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Does YOUR Business Need a Podcast?

In an age where “let’s start a podcast!” is as ubiquitous as “let’s start a band!” was in the ‘90s, it can be all too tempting to grab a mid-level microphone and Adobe Audition in the hopes of creating the next “Armchair Expert” podcast. Podcasting can be incredibly lucrative, or it can be incredibly draining — oftentimes, it’s both. If you’re still on the fence about whether your business would benefit from the time and energy necessary to create and maintain a podcast, read on for our expert opinion on things to consider:

1) What are you bringing to the proverbial table?

Business podcasts are a dime a dozen. Entrepreneurs currently saturate the market with tips and tricks on financial literacy, innovation, and success stories. If your business caters to a very specific niche market, that may be your “in”. You may also benefit from a podcast if your business is owned or operated by an underrepresented community. Your unique voice and perspective is a welcomed break from the typical Silicon Valley entrepreneur, so consider adding your two cents to the digital world. No matter what your perspective may be, before you start planning episodes, guests, and titles, be sure to browse through different streaming services to make sure your corner of the market isn’t already spoken for.

2) Are you an actionable brand?

Think about the potential content of your show. The last thing your listeners want is a 45-minute ad for your products or services. What type of KPI (key performance indicator) can you extract from your audience’s interaction with your podcast? Are you hoping to position yourself as a thought leader? Are you offering advice? Are you simply telling stories? If so, make sure those types of stories haven’t already been told, or that the stories tie into something your audience will benefit from hearing. In other words, don’t bother expending emotional and physical labor into a podcast that won’t reap any measurable ROI (return on investment) for your business.

3) How sustainable is your podcast?

A business going through significant change may benefit from a podcast because it helps develop a new voice for the brand. It also acts as a built-in promotions tool for upcoming launches, giveaways, sponsorships, and affiliate deals. Product-based companies can use branded podcasts as a guerilla marketing tactic, which may boost conversions during holiday or gifting seasons. Businesses that tend to remain stable but stagnant may not benefit as much — for example, think about the last time you heard a compelling podcast about the drone manufacturing industry, or the dental hygiene industry? These are important, well-established markets, but growth tends to be slow with lots of stagnation in between spurts of innovation. If your business were to start a podcast, would you have enough to talk about? Could a biweekly or bimonthly posting schedule capture and retain a captive audience? Or would it end up costing time, money, and intern fatigue?

Fortunately, the team at Mr. Thrive Media is primed and ready to help you decide whether to start a podcast. Not only that, but we’ll help post, host, and promote your show to our international network of creatives and professionals. Contact us today to schedule your free consultation. You can also check out our current podcasts here!

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