How can you use content benchmarking to identify new podcast formats?

1 Why benchmark your podcast content?

Podcasting is a popular and growing medium for content creation and consumption. According to Edison Research, 41% of Americans listen to podcasts monthly in 2021, up from 37% in 2020. However, podcasting is also a competitive and saturated market, with over two million podcasts available on Apple Podcasts alone. To stand out from the crowd, you need to create podcast content that is relevant, valuable, and distinctive for your target audience. Benchmarking your podcast content can help you understand what works and what doesn't in your niche, and how you can improve or innovate your podcast format.

2 How to define your benchmarking goals and criteria?

Before you start benchmarking your podcast content, you need to define your goals and criteria for comparison. What are you trying to achieve with your podcast? What are the key performance indicators (KPIs) that measure your success? How do you define your target audience and their needs, preferences, and behaviors? How do you position your podcast in relation to your competitors or industry leaders? These questions will help you set clear and specific objectives and standards for your benchmarking process. For example, your goal might be to increase your podcast downloads, retention, and engagement by 20% in the next quarter. Your criteria might include podcast length, frequency, format, tone, topics, guests, production quality, and promotion strategies.

3 How to select and analyze your benchmarking sources?

Once you have defined your goals and criteria, you need to select and analyze your benchmarking sources. These are the podcasts that you will compare your content with, based on their relevance, popularity, and quality. You can use various tools and platforms to find and evaluate your benchmarking sources, such as podcast directories, charts, ratings, reviews, social media, and analytics. You should aim to select at least three to five benchmarking sources that represent different levels of performance and style in your niche. For example, if your podcast is about digital marketing, you might choose podcasts that are ranked high, medium, and low in your category, and that have different formats, such as interviews, case studies, or tips.

4 How to identify new podcast formats from your benchmarking data?

After you have selected and analyzed your benchmarking sources, you need to identify new podcast formats from your benchmarking data. This means looking for patterns, trends, gaps, and opportunities in the podcast content of your competitors or industry leaders, and how they relate to your own podcast content. You should compare and contrast the strengths and weaknesses of each podcast format, and how they affect the KPIs that you defined earlier. You should also consider the feedback and expectations of your audience, and how you can meet or exceed them with your podcast content. For example, you might discover that your podcast is too long or too infrequent compared to your benchmarking sources, and that your audience prefers shorter or more frequent episodes. You might also find that your podcast lacks variety or novelty in its format, and that your audience wants more interactive or creative content, such as quizzes, polls, or challenges.

6 How to implement and evaluate your new podcast formats?

After you have tested and refined your new podcast formats, you need to implement and evaluate them. This means launching and promoting your new podcast content, and tracking and analyzing its performance and results. You should use various channels and platforms to implement and evaluate your new podcast formats, such as podcast directories, charts, ratings, reviews, social media, and analytics. You should also compare and benchmark your new podcast content with your previous podcast content, and with your competitors or industry leaders. You should also review and update your goals and criteria for comparison, and repeat the benchmarking process regularly. For example, you might implement your new podcast formats by publishing and distributing them on your website, Apple Podcasts, Spotify, and other platforms. You might also evaluate your new podcast formats by measuring and reporting on your podcast downloads, retention, engagement, and other KPIs.