4 Ways to Leverage Podcasting to Grow Your Business

When I first launched my podcast,?The Fractional C-Suite Retreat, I had no idea what would come from it. The actual process of making a podcast is surprisingly straightforward. The three key ingredients: a computer to record the podcast, a good microphone to capture your voice, and a software program to edit your audio. (Some say a fourth requirement is an attractive voice … but if I made it, so can you.)?

The hardest part of podcasting? It’s nothing related to sound engineering or fancy marketing?strategies. It’s the ability to find that bedrock idea that ties it all together.?

A unique angle is critical — and with the rapid growth of podcasts as a media form built for?communities, going niche and specific is key. However, the most important element I’ve learned?throughout my podcasting experience: identifying a purpose for the podcast you want to?launch.

Podcasting is an exercise in longevity. Identifying a big mission or purpose — the reason why you?started this thing in the first place — will propel you forward on the days you feel too busy or too?low on energy. Most likely your purpose lies in the audience you strive to inspire or the feeling?you get when you are deep in discussion with a guest. Financial gains will come, but lead?generation and monetary ROI cannot be the primary motivators (money alone is never a?sustainable driver for anything, I’ve learned).

The results and impact a podcast creates far outweigh the challenges. The benefits are so?significant that I believe every entrepreneur, leader or fractional professional should consider?incorporating a podcast into their business model. The reasons are straightforward.?

Branding and marketing?

When I first started my podcast in November 2021, I knew I wanted it to support the latest business I was building?(yorCMO: a fractional CMO company). I was quickly getting fascinated with the fractional model?of work — and I wanted a platform to share my excitement for it while speaking directly to the?audience my business was targeting.

A podcast is a marketing channel – and it can be a key part of a strategic marketing mix. But?there was one small difference:

The podcast wasn’t a Facebook ad being spread across the internet by a faceless corporate?brand. The podcast was me: my voice, my thoughts, the types of guests I felt excited about?speaking to. It was my brand.?

What came out was: The Fractional C-Suite Retreat podcast

The concept is simple: a show meant for an executive audience to listen to while unwinding and?learning about various issues affecting the C-suite. I had always loved (still do) reading, listening?to a podcast or writing over a cigar in my backyard after a long day. I figured other busy leaders?might already be doing the same thing I did, and they might want to join in my cigar-fueled?audio retreat.

While branding the podcast, I was able to brand my company and myself at the same time to?my listeners. Talking about shared experiences with my guests makes listeners associate certain?feelings with me and, by extension, the company I founded. The podcast began to act as a?supporting pillar of my corporate brand’s marketing and my own personal brand’s marketing.

What’s more: a steady flow of episodes started to fuel content for social media accounts.??

From a branding perspective, a podcast can be invaluable: it can create valuable online?engagement for your brand(s) while giving you marketing content for your other channels.

Audience connection and authoritative presence

The name of the podcasting game? Creating personal connection in today’s disconnected world.?

Podcasting establishes a more direct connection to your audience. While blogs and posts on?social media are used to connect with your audience, podcasting has a unique place in the?social media landscape. Your audience hears your voice and mannerisms in ways that texts?cannot compete with.

Do podcasts for a long enough time, and you will have an audience who simply loves listening to?your (and your guests’) thoughts. If your voice is an authentic one, and if you hold back from?the temptation to make everything “perfect,” your audience will see you as an authoritative?figure on your core topic; they’ll get to know you, and feel you understand them; and?inadvertently they’ll develop a sense of trust.?

The goal isn’t to be a “thought leader”; it’s to be an unfiltered, interesting, reliable lighthouse?standing out in a crowded sea of voices guiding your audience home. Be the lighthouse!

New avenues for online presence

Whether for your corporate brand or for your personal brand (or both, if they are?interconnected), a podcast is a smart way to reach audiences outside of your immediate?industry or network.

Podcasting helps your business reach an audience disconnected from but adjacent to all your?other marketing channels. Traditional marketing rhetoric tells us to be on “every” social media?platform — but more often than not we end up focusing on one platform above the rest (likely a smarter strategy). Most commonly, it’s the one where the biggest concentration of our?target audience is found.?

Podcasting is, in some ways, natively disconnected from a singular social media platform –?which means it creates opportunities to reach people you have never met, known about, or?marketed to.

According to the?Infinite Dial 2023 survey?by Edison Research on digital media consumer?behavior in the United States, 42% of the US population listens to podcasts monthly. In 2012,?this percentage was only 14%.

It’s a rapidly-growing segment — one that is diversifying in terms of appeal. The same survey?notes that podcast listeners’ demographics (gender, ethnicity, and age) are diversifying just as?rapidly. The interest in podcasts is not only an American phenomenon: Latin America and Asia?Pacific, for example, have seen remarkable growth.

The point: podcasting creates new avenues for new exposure to new audiences — and despite?what seems like a “crowded” podcasting market, in some ways it’s still in its infancy as a channel?to reach and inspire audiences.

Building a learned community?

Nothing beats honest intellectual conversations.

A main (and understated) benefit of podcasting: Getting to have conversations with smart,?interesting people. I’ve had many wonderful guests of various backgrounds on my podcast, from?whom I learned so much about different facets of business. One week I am talking to a world-class expert about modern-day marketing; another week on company culture; the next about?the future of work.

Beyond concepts related to my core topic (executive business leadership?issues), I’ve learned so much about psychology, philosophy, health, strategic thinking,?relationship-building, and much more. The guests I’ve had on my podcast continuously remind?me and my audience that no matter how experienced you may be in your field of expertise,?there are always new things to learn.

Moreover, the simple act of hosting guests on a weekly podcast builds a sense of community:?I’ve expanded my network and audiences exponentially; built real relationships I will hold onto;?and have received messages on how I’ve inspired others to achieve their goals. Even if a podcast?is by default a one-way conversation, a community gets created where people can exchange,?learn and grow. It’s remarkable, really.

Whether you are a seasoned entrepreneur or a C-level leader, I believe podcasting can help your business grow.

My suggestion: Give it a try. Start with a mission and purpose— and who knows where the?podcasting journey can take you from there??

Contributed to EO by Joseph Frost, an?EO Nebraska member, who is a decentralized entrepreneur, university professor of entrepreneurship, public speaker, and a four-time founder. He is the founder of?Guided Outsourcing, a people-centric outsourcing business, and?YorCMO, the first decentralized leadership marketing system. Joe has written about reasons to decentralize your leadership team, strategies to lead globally distributed teams and how technology empowers distributed teams to build culture.

For more insights and inspiration from today’s leading entrepreneurs, check out?EO on Inc.?and more articles from the?EO blog.?

See the source here.