In 2017, podcasting is revolutionizing the way communication works! There was a time when bloggers were seen as people who never left their basements. Today, bloggers are well respected as a part of society in nearly every niche and industry. That same view was attributed to podcasting for a long time and now things are changing. Recent studies have shown that 1 in 4 adults downloaded and listened to a podcast last week. The growth potential of this communication medium is astonishing. In fact, in the past 5 years, it’s grown upwards of 21% which is real growth in the minds of every business-minded individual out there. There is a lot going on in this arena; the reasons why podcasting is growing deal strictly with how communication works and how much it costs.
The Problem With Marketing
In order to fully grasp podcasting for business and brand marketing, you first have to consider the cost. Costs associated with marketing can be very expensive to say the least. Consider the cost of buying a 30-second radio ad. A 30-second spot is purely fascinating because it’s short—it gets to the point and it’s only audio. This can cost you upwards of tens of thousands of dollars, depending on the radio station. Now, consider the same radio ad you would run on a podcast. The cost could diminish to less than $100 on a very popular show.
The problem with traditional advertising and marketing products and services is they can cost a great deal of money. The production costs associated with podcasting allows many advertisers can jump in without spending a lot. Not only that, you can reach your targeted audience fast.
Running Podcasts (The Cost Side)
Another way to look at this is from the production side. Consider the costs of running a radio show. You’d need to pay for the equipment, the air time, and a DJ to host programming. Now consider a podcast. Anyone with a microphone or a smartphone can record a show and upload it within a few minutes. Thousands of people have the ability to search, download and listen to shows on any number of topics. The cost break down is far less and can reach the same audience (if not larger) than terrestrial radio can.
You won’t need to spend a lot of money to start your podcast. On the basic side of things, you could get away with recording a show with your smartphone, uploading the file to free services like Podbean. Distributing your show through other free means like Blogger, among others, is doable. Using completely free resources, you can launch a brand with global potential in a short timespan. Simply put, it’s easier to communicate in this fashion compared to any other communication device with the same size audience.
The Difficulty Level
Perhaps the best way to look at podcasting is in regards to the difficulty level of starting a show. If you were to go through the process of becoming a DJ to host a radio program, you’d need a degree, and you’d need a license to run the mixer board. Then, you’d need to find a radio station to hire you and those jobs are scarce. If you did find one, it may not last long. Not everyone can become Don Imus or Howard Stern—it’s just not in the cards for everyone. Hypothetically, after you spend tens of thousands of dollars on your degree, you could very well be moving from radio station to radio station trying to get your foot firmly planted in the radio world. Remember: there are no guarantees, which makes this a difficult task overall.
Now, in regards to the world of podcasting, you’ll find that the learning curve is quite low. You don’t need a degree, fancy equipment or an established personality to start. You simply need an idea, your voice, and a willingness to speak into a microphone to start. Over time, you can learn how to manage free software for editing audio. Not only that, you can build a global audience without leaving the comfort of your home!
The Reality of Making Money
One last thing about podcasting we previously touched on in monetization. Some podcasters who pull in six figures in advertising revenue just from speaking their minds. Other are making major money through partnerships, and ads within the confines of their show. They promote products, run 30-second advertising spots, and recommend things through affiliate marketing. You’ll find that some broadcast live across several channels and even big radio pays for shows that are podcast formatted 100%.
Making money in this fashion may be motivating, which comes from the fact that millions of people listen on the go. Millions of podcasts are downloaded every month. Listeners are patronizing the hosts projects. It feels more like a community to support a podcaster than to tune into a terrestrial radio show.
There is no end in sight to the creative power that comes with this type of communication. Get started, listen, and learn within a matter of minutes. Rest assured, you can find your voice in the world of podcasting easier than any other medium. You can rant and share your opinions. Even better, someone will find you, listen to you, and perhaps even pay you for your two cents!