Podcasting 101 for Financial Advisors
Content marketing isn’t limited to the page. You can use video, images, and, which is why we’re here today, podcasts to share your messaging and promote your business. Podcasts have significantly grown in popularity these last few years – between January 2013 and September 2015, the number of podcasts listed on iTunes US has doubled, and nearly 1 in 5 U.S. adults listen to podcasts – but a lot of advisors aren’t familiar with them.
Here, we’ll share the 101 on podcasts, including what they are, how they serve as a marketing avenue, and your opportunities for starting your own.
What is a Podcast?
We like to think of a podcast as the child of a blog and TV show. Similar to a digital radio program, a podcast audio broadcasting. It is typically a series with new installments released on a regular schedule, be it weekly, monthly, or other alternative. Like a blog, you can subscribe to podcasts, download them, and listen to them on websites, iTunes, or another music service.
Podcasts are an average of 40 minutes long, but they can range between a few minutes and several hours. However, it’s best to keep them between 15 minutes and one hour. Some podcasters do “seasons,” so they may host six episodes over the course of three months and then take a hiatus for a few months before returning for a next season. Each season may have an overarching theme, or it may be a mixed bag of topics that all fall within one general theme, such as entrepreneurship, investments, politics, or traveling.
What are the Marketing Benefits of Podcasting?
- It’s inexpensive. Once you have the equipment – a microphone and software to record and edit your show – you can spend as little as a few dollars per month to host a show online.
- It’s another platform to connect with prospects. The more places you are online, from social media platforms to email to websites, the more you can reach a new audience.
- You have the opportunity to build relationships and a loyal following.
- You can build your credibility and authority in your industry, highlighting you as an expert on a specific subject.
- You can market to a targeted audience. Want to target business owners? You may tie into your podcast business tips, such as staying organized, developing relationships, etc.
What are the Cons to Podcasting?
- You need to be tech savvy, or at least dedicate time in the beginning to learn how to record, edit, and upload your show.
- It can be intimidating to record your voice and talk for a long period of time without breaks.
- It can take a lot of work to find the time to create your content, record it, edit it, and distribute it online.
- You may struggle to document how effective your podcast is and whether or not it’s working.
Is Podcasting a Good Marketing Avenue For You?
Podcasting is an intimidating marketing strategy. People either love it or can’t imagine trying it. Podcasting may be a good option for you if:
- You want to build brand awareness
- You want to establish yourself as a thought leader
- You want to partake in content marketing but don’t want to blog
- You like the idea of speaking online but are intimidated by video
- You are ready for a new marketing challenge
What are the First Steps to Start Podcasting?
- Invest in quality equipment. Your computer microphone won’t do it. If you want your podcast to sound professional, invest in a good microphone.
- Read the instructions. Play around with the equipment and test out the audio and editing software. You’ll get better over time, but you don’t want to be distracted when recording. Get a feel for the buttons and the steps you have to take to record.
- Determine your niche and topics. With podcasts, you can’t be everything to everyone unless you’re a famous celebrity. Outline what you plan to talk about, who you are speaking to, and how you will bring a new angle to the topic. During this step, you should also determine the length and frequency at which you’ll podcast. To start, aim for 15 minutes once a month, then increase as you get more comfortable.
- Evaluate where you’ll host your podcast. Popular hosting sites include Libsyn, TuneIn, and Soundcloud.
- Get the word out! The best way to build an audience is to start with the people you know, including email contacts, social media followers, clients, and prospects.
Creating your own podcast may seem like a tactic reserved for business tycoons and national figures, but you’d be amazed at how many people podcast on every day topics. If you’re remotely interested in podcasts, try creating your own and see what happens. You may just be the next big advisor podcast star!