Competition between small businesses is always tight. That is even truer now because of the pandemic where consumer spending has declined. Thus, small businesses need to be more creative to attract customers and increase revenue.
If you want to get a leg up on the competition, you might consider starting a podcast. It is a form of entertainment that is becoming more and more popular over the years. For example, only 22% of the U.S. population knew about podcasting back in 2006. But in 2019, there were approximately 88 million podcast listeners.
Here are some more reasons why your small business needs a podcast:
Podcast contents are usually discussions about relevant topics. If you talk about trends and issues in your podcast and share insights, you can demonstrate that you and your business are credible. For example, in a podcast episode, a business that supplies packaging materials might discuss common product packaging issues. The business can recommend solutions. As a result, listeners will see that the business can be trusted.
Create Brand Awareness
In addition to establishing your credibility, having a podcast can also help you increase your brand awareness. Starting a podcast will give you a wider online presence so that your target market can recognize your brand more easily.
Promote Products/Services Organically
Consumers hate hard selling. The more they feel like a product or service is pushed to them forcefully, the more unwilling they will be to purchase it. And worse, they might dislike the brand or company entirely.
Your podcasts can help you avoid hard selling and promote your products more organically. Each episode will focus on a relevant topic, so you won’t really be pushing your products to your customers. Instead, you can mention them occasionally during discussions. This will make the listeners curious and check out your products on their own.
Market Products/Services with Low Costs
And apart from organically promoting your business, you can also market your products/services at a low cost. Sure, you still need to buy some equipment, like a microphone and a headset. But the total cost of the minimum equipment needed will be relatively low, about $300 or less. This amount is relatively cheap compared to other marketing strategies.
Podcasts can be monetized too. Even a small podcast can earn something. So if you start one now, you can potentially earn from your podcast while also advertising your business. ;
Expand Your Network
A podcast is a great tool to expand your network. Discussing topics directly related to your business can help you attract listeners and convert them into leads. You can also gain more listeners if you talk about topics not directly related to your business but still have a certain connection.
One common trend in podcasts is interviewing guests. You can invite experts outside your field to your podcast. By doing this, you can create a cross-industry network. This will further increase brand awareness and make you seem more trustworthy to your target market.
Cultivate Customer Loyalty
Podcasts provide value to listeners. An episode can be entertaining and educational. For instance, a consulting business can share case studies and educate listeners on how to improve their business processes.
If you create an entertaining and educational podcast, you can make your existing customers more loyal to your brand. They will see that you are not only trustworthy but also helpful to others.
If you start a podcast, you can’t expect to see results immediately. It will take time before you can achieve all the benefits mentioned above. Still, looking at how a podcast can help you move your business forward, it’s worth taking the risk.