How the Continuing Growth in podcasting is Fantastic News for Your Future Revenue

Dare I say it; podcasting is finally here to stay. I've been in the game long enough to remember all the previous false starts the medium had. From the start of the simple syndication provided by the invention of the RSS feed, through to the release of the iPod, access has been slowly improving. And now podcasting is booming like never before.

Source data from Edison Research, RAJAR and YouGov can be seen here; https://podknowspodcasting.co.uk/podcast-statistics-uk

But why should B2B brands care?

Simple: podcasts are not just for entertainment. They're also a powerful marketing tool to help with your business growth.

The Surge in Popularity

Podcasts have evolved from niche entertainment that was mostly driven by tech nerds to mainstream media. With millions of listeners downloading and listening in regularly, the audience is vast and diverse. There's now enough compelling data from the likes of Edison Research, RAJAR, and other research companies, that we now have a better picture of the listening landscape.

Half of the US and UK population are not only now aware of podcasts, but a majority of them are regularly listening to them. And a massive proportion of those are business owners.

For B2B brands, this means an opportunity to tap into a ready and engaged market.

Think of it as a direct line to your potential clients.. And one that's way more fun than a boring newsletter email.

Everyone attributes this growth to the release of "Serial" - a popular podcast that's now been listened to by hundreds of millions of people. But the truth is, that podcast wouldn't have been a hit if it wasn't for the fact that Apple Podcasts made it easier for non geeks to find it in the first place.

Thanks to making their podcasting app native in every single iPhone sold.

Revenue on the Rise

Speaking directly to the revenue from podcast advertising, it's soaring, and expected to hit billions in the next few years. For British businesses, this is a great opportunity.

While I still suggest that selling your brand as the product and having a podcast as the marketing tool is the quickest way to more lucrative and sharper growth, we're not far away from brands being able to create new revenue streams through collaboration with suppliers and partners on advertising messaging.

Investing in podcast ads or creating branded podcasts can already provide a substantial return on investment though.

It's about getting your message to the right audience in a format they enjoy.

Nostalgia and The Path to Engagement

Podcasts are now starting to tap into a sense of nostalgia, reminiscent of old-school radio shows but with a modern twist.

"Rewatch" podcasts, where stars of past TV shows are sitting down to watch old episodes they were in, are growing rapidly.

There are ones for Smallville and Cheers that are in my own personal playlist.

This emotional connection with your ideal audience keeps them coming back. For B2B brands who can tap into this, creating a podcast that resonates emotionally with your audience can foster loyalty and engagement. It’s not just about selling; it’s about storytelling.

Practical Tips for B2B Brands

1. Plan your Podcast, Properly! By all means, share industry insights, interview experts in your space, and provide valuable content to establish your brand as a thought leader. But think on a deeper level. Don't approach it from a purely self-serving point of view. What does your listener get out of it? Will your idea entertain and engage them? If you're not sure, it might be a good idea to go back to the literal drawing board, and map out a better idea!
2. Plan to Invest Budget: Nobody is just going to find and listen to your branded podcast because you want them to. You're not going to get any kind of audience if you don't consider point 1 (entertaining and engaging them). And even before you manage to do that, you're going to need a plan for targeting your ideal audience so that they know you exist. We can help you do this at Podknows Podcasting
3. Engage Your Audience: Don't just 'broadcast' one way communication. Use your podcast to foster a connection with your ideal customers by answering common questions, solving their basic problems, and connecting with them on a personal level by encouraging them into your online communities and email communications. Also, the odd incentive to encourage loyal listening never hurts!

Neal's final thoughts

Podcasting is a powerful tool for B2B brands. It offers a way to engage with a growing audience, generate revenue, and build emotional connections. Don’t miss out on the opportunity to leverage this medium for your business growth. Start planning your podcast today, and who knows what could be on the horizon for your brand next year!

And as always, if you need any help of advice, get in touch.

I'm happy to help.