So, you’re thinking about starting a podcast! Or maybe you’re reading this so you can forward it to that friend who really needs to start one. Either way, I know the world of podcasting can feel like an enigma to most people, including avid podcast listeners! We’re used to the ephemeral nature of internet trends, so it can be pretty surprising to see an creative industry like podcasting maintain growth after all these years.
Having a top-charting marketing podcast myself, I get questions about podcasting impact all the time. How can I make a successful podcast on my own? Can I use podcasting as a marketing tool for my current business? Does podcasting actually help with brand visibility? Does the world really need another podcast in the mix??
But before you hit that record button (or avoid it for another year), let’s catch you up to speed on what you need to know for starting or growing a podcast in 2024!
Want to take it a step further? Click here to take my free, virtual, podcasting masterclass! Podcasting 101: 3 Easy Steps to Launch Your Show
Examining the Current Podcast Industry
I hear from a lot of people that they’ve considered starting a podcast, but pull back when they think about the abundance of podcasts already out there. I get it — when you open up a podcast app and browse, it can feel like there are so many already! But the podcasting trends and numbers don’t lie: a recent stat from Insider Intelligence estimated that there are around 464 million podcast listeners globally as we step into 2024.
26% of Americans listen to an average of 8 different podcasts throughout each week, and even more people reported to listen to over 10 different shows per month. People are always looking for fresh podcasts to discover and slip into their weekly rotation, especially ones that feel unique enough to stand out in their podcast library. I’ve seen brand new podcasts launch into even the most competitive genres, like True Crime, and with consistency, they’ve soared to massive success! At the end of the day, the connection that comes from pressing play on a podcast while you live, work, commute, eat lunch, travel, or even drift off to sleep? It’s unrivaled.
While there are 450 million podcasts and growing, there’s still room for you. That’s what I’ve always believed as a marketer, an entrepreneur, and a creative. And I can’t stress that enough! Develop a unique podcasting idea and run with it! You can always pivot as you learn.
Related: Should Your Start a Podcast? Answer These 5 Questions
Podcasting FOR Your Business, or AS Your Business?
One of the biggest questions I like to ask people who are thinking about starting or growing a podcast is what they want their podcast to do for them. Understanding what the primary vision is for your podcast will help you know how much time and energy you need to put into it, how much it can/should differ from the work you’re already doing, and what kind of goals to set as markers of success!
Do you want your podcast to becoming a supporting branch of your current business ecosystem? Or do you dream of having a podcast be your full time job? A podcast doesn’t have to be a side gig! You don’t have to be 100% of this before starting your podcast, but keep your mind open to what’s possible as you start.
While successful podcast metrics might sway your plans to go full time into podcasting, remember that ‘success’ with your podcast is ultimately up to you to define. Buzzsprout’s monthly podcast download numbers report shows that 25-30 downloads a month would put you in the top 50% of podcasters. You don’t have to see huge numbers in order to deem it “successful” or for it to have a meaningful impact on your business and your listeners.
Pro tip: as you plan to be consistent with your podcast, think in terms of weekly content pillars. What are approximately four (since there are about 4 weeks each month) content pillars that you won’t get tired of talking about? As you get comfortable with the podcasting process, you can rely on these pillars to keep you from the overwhelm of not knowing how to plan your content. And your audience might love the rhythm, too!
Related: How to ACTUALLY Make Money as a Podcaster
Podcasting as a Marketing Tool
Leveraging your podcast as a marketing tool for your business at large is a brilliant way to maximize results and bring new faces, clients, customers, and connections into your world! Podcast listeners are more than open to becoming more than listeners. In fact, recent stats show that frequent podcast listeners are in the primary age ranges of people who make the purchasing decisions in their lives (i.e. not super young kids) and are interested in opportunities that make their daily lives easier. And this is impacting the podcasting market as a whole, as it’s set to grow to $4 billion this year!
A simple but important question to ask is how your podcast is directly connected to driving results for your business. A lot of podcasters, both old and new, tend to miss this step. Unfortunately, you can’t just launch a podcast and then hope it grows your business for you. You have to intentionally and consistently give your listeners opportunities (ones that are hard to resist!) to other parts of your business.
A common method for podcasters whose show is their primary business (rather than a smaller piece of the whole) is to invite their listeners to join a podcasting community group, like Patreon! A top performing podcast makes roughly $50,000 a month just from their Patreon subscribers.
While podcast sponsorships and ads are a valuable way to bring in a profit from your podcast, you can also use your episodes to share about your paid offers, like your products or services, either overtly or covertly through your episodes. Link your offers in the description of your episodes and guide your listens to click and engage! The goal here is to get your listeners out of the podcast app and onto your website, into your offers.
Podcasting for Audience Connection
As you get strategic about inviting your listeners to jump out of your podcast and into your offers, you also have an opportunity to convert them into long-term customers. Weave in your free offers and other opportunities to connect with you and your work in new ways.
Do you have a YouTube channel? Social media? An email list, Pinterest page, website, and blog? Focus on the arenas that impact your business as a whole, and give your podcast listeners a reason to come meet you there. Your audience can get to know you better as they spend more time with you (i.e. listening to you and learning from you). In fact, 74% of podcast listeners say they press play on podcasts to learn new things, be entertained, stay ‘in the know’, relax, and be inspired.
And as you share about your podcast on your other channels, your social media followers become listeners. Your email list subscribers want to subscribe to your podcast. You can give your current audience an opportunity to connect with you on a deeper level. They can learn from you through a podcast episode more easily than most other formats. Meet them where they are, and your connection to your audience as a whole can help you grow not only your show, but your whole business!
Simple Keys to Long-Term Podcasting Success
Give yourself a goal and stay consistent. You can take breaks, give yourself space between seasons, and even give yourself an end date if that makes sense for your podcast. But don’t give up before you reach your goal. Ask yourself what you want to have accomplished with your podcast within the first year. How often will you check in your progress?
Remember this: starting a podcast is really an experiment. You’re trying something new! You’re curious about new podcast strategies and you’re watching for what works and what doesn’t. Optimizing your podcast for year over year success is all in checking the stats and trends where needed, listening to your listeners, and making sure you un-flip that autopilot switch every once in a while to make adjustments.
The benefits of a podcast for your business, your joy, a creative outlet, or a supportive tool for your larger business ecosystem are unmatched. I can testify from personal experience that sitting down on my podcast batch-recording days, I am so excited that I get to create something that feels good for me AND supports the creative, ambitious lives of my listening community. Worth every little moment of this experiment!
Launch Your Own Podcast in just a DAY.
Calling all storytellers! This post by Jenna is pure gold for anyone dreaming of starting their own podcast. It’s not just about the hype – Jenna dives deep into WHY podcasting is amazing, then shows you exactly how to get started and grow your audience. Thanks for sharing this detailed post with us with this advice and down-to-earth tips, anyone can be a podcasting pro in no time!