How a Podcast Should (And Shouldn’t) Fit into Your Growth Strategy
Plenty of business owners plan to use podcasting as part of their growth strategies, but only a fraction of them do it effectively.
The key piece I see a lot of people get wrong is figuring out where a podcast should fit in.
Having helped dozens of business owners start and produce their podcasts through our Podcast Launch Services, I’ve seen firsthand where podcasting works best within a growth strategy, as well as where it isn’t as impactful.
So in this article, I’m going to explain how this powerful tool can—and should—be used to help you grow your business.
FIRST THINGS FIRST
Before we get started, it’s important to touch on the concept of the marketing funnel.
A marketing funnel is essentially how you attract leads and convert them into customers or clients. It illustrates a customer’s journey from discovering you to purchasing from you.
In its simplest form, a marketing funnel consists of three main parts:
1. Lead generation
Lead generation is about getting in front of your target audience and expanding your reach. Think of it as your introduction to potential listeners and clients. Some effective lead-generation tactics include:
Content Marketing:
Blog posts, infographics, videos, and case studies are powerful tools for building visibility. Don’t let creativity hold you back—each type of content has its benefits. For example, blog posts are great for targeting keywords and boosting SEO, while videos excel at breaking down complex concepts in an engaging way. An infographic summarizing the highlights of a podcast episode can be particularly appealing to visual learners.
Search Engine Optimization (SEO):
Optimizing your website in conjunction with a strong content strategy is key to improving your visibility in search results. Transcriptions, show notes, and keyword-rich titles can make your podcast much more discoverable, allowing you to reach a wider audience who may be searching for topics you’ve covered.
Social Media Marketing:
Social media is crucial for getting your podcast in front of more people. Sharing snippets, audiograms, or quotes from your episodes on platforms like Instagram, LinkedIn, or Twitter helps you engage listeners who are already active on those channels.
Paid Advertising:
Targeted ads on platforms like Google, Facebook, or LinkedIn can help you reach specific audiences based on interests or demographics. The key to success with paid advertising is writing copy that resonates with your audience’s pain points, fostering a deeper connection with potential followers.
Networking Events and Conferences:
Industry events, whether virtual or in-person, offer valuable opportunities to promote your podcast to a captive audience. Whether you’re speaking on a panel or casually networking, mentioning your podcast can attract professionals who are likely to tune in.
Measuring Success:
To evaluate how well your lead generation strategies are performing, track metrics such as website traffic, social media followers, email subscribers, and the number of new leads acquired over time.
2. Engagement
Once you capture the attention of potential listeners, the next step is to engage them.
Engagement aims to build trust and educate your audience, helping them understand what drives the results they desire. Here are some effective engagement strategies:
Email Marketing Campaigns:
Personalized email sequences can significantly enhance audience engagement. For example, follow-up emails with additional resources related to your latest podcast episode can deepen listeners' connection to the content.
Social Media Interactions:
Regular interactions on social media with your target audience are essential for maintaining momentum. Initiate discussions on podcast topics, solicit feedback, or host live Q&A sessions to address listener questions directly.
Webinars or Online Workshops:
These events can serve as excellent platforms for further engagement. For instance, you could host a webinar that expands on a popular podcast episode, diving deeper into the content while allowing attendees to ask questions.
Blog Posts and Articles:
Complementary blog posts can reinforce key messages from your podcast episodes and serve as additional touchpoints. A blog summarizing the main points discussed in a podcast episode can drive more traffic to both your blog and your podcast.
Podcasts:
Your podcast itself is the most powerful engagement tool at your disposal. Ensure each episode delivers value through expert interviews, in-depth discussions of relevant topics, or Q&A sessions that address frequently asked listener questions.
Measuring Engagement:
To assess how engaged your audience is, monitor metrics such as email open rates, click-through rates, social media engagement (likes, comments, shares), and the time visitors spend on your website.
For podcast engagement specifically, track the following metrics:
Number of downloads per episode
Listener retention rate (how much of each episode listeners complete)
Reviews and ratings on podcast platforms
Social media mentions and shares of your podcast content
3. Selling
This is where you communicate your offer clearly: what it is, how it works, how it can benefit your audience, and how they can get started. The key here is to demonstrate your understanding of the results your leads are seeking and to show that you have developed a process, system, deliverable, or product designed to help them achieve their desired outcomes.
Each step in this process naturally leads to the next. First, you need to attract attention, then engage with your audience, and finally, you can sell effectively. As people progress through the funnel, you’ll identify those who aren’t a good fit for your offer while guiding those who are ready to the next step.
Your role as a marketer is not to sell to everyone you encounter. Instead, focus on helping the right fits move through the funnel and connect with those who resonate with your message and align with your offer.
Effective Selling Techniques Include:
Sales Calls or Meetings: These face-to-face interactions can effectively convert leads into customers. Referencing a podcast episode that addresses their specific concerns reinforces your expertise and helps build trust during the sales call.
Product Demonstrations: If your business offers a product, showcasing it through your podcast or via video content can be highly effective. A step-by-step walkthrough of how your product solves a particular problem can be compelling and persuasive.
Case Studies and Testimonials: Social proof is incredibly powerful. Sharing testimonials from real users who have benefited from your product or service adds authenticity and builds trust. Including feedback from podcast listeners who found your content or services helpful can enhance this effect.
Limited-Time Offers or Promotions: Creating a sense of urgency can encourage conversions. When promoting time-sensitive offers on your podcast, pair them with a strong call to action to motivate listeners to act quickly.
Clear and Compelling Calls-to-Action (CTAs): Just like any other piece of content, each podcast episode should include a clear CTA. Whether you're asking listeners to join your email list, visit your website, or set up a consultation, ensure the next step is straightforward for them to take.
So, Where Does Podcasting Fit In?
Podcasts have a unique ability to win the trust of listeners. Many people enjoy podcasts during their free time—whether on the train, at the gym, or home. This creates an intimate bond with the host, and the consistent presence of a podcast in their routine significantly builds trust.
This phenomenon can be explained by the "mere exposure effect" in psychology: the more someone is exposed to something, the more they tend to develop a preference for it. As you release episodes regularly, you become a constant presence in the lives of your listeners, fostering a growing sense of familiarity and trust over time.
Unlike social media, podcasts provide a direct, uncomplicated connection with your audience. There’s no algorithm obstructing their access; listeners choose to spend time with you—often for extended periods—by tuning in to your episodes. This long-form format allows for a unique opportunity to establish authority and build trust. For instance, a business coach can position themselves as an expert in their field even before meeting potential clients, simply by sharing valuable insights weekly.
Podcast listeners are known for their loyalty and engagement:
80% of listeners consume all or most of each episode they start.
45% of podcast listeners earn $75,000 or more monthly, which is 10% higher than the general population.
These figures illustrate that podcasting attracts an affluent and engaged audience, likely to listen regularly and stick with you over time. This loyalty fosters a stronger relationship between you and your listeners, making them more inclined to consider your products or services when they’re ready to make a purchase.
Moreover, the long-form nature of podcasts enables deeper connections. Unlike social media posts or blog articles, which are often consumed quickly, podcasts engage listeners for extended periods. This prolonged exposure helps reinforce your brand message, keeping you top of mind.
Convenience for On-the-Go Audiences
Podcasts cater to individuals who are constantly on the move and seek entertainment, motivation, or personal development. They can be listened to anytime and anywhere, making them ideal for busy lives. Fans can save episodes to their phones and listen while working, driving, exercising, or relaxing.
The typical podcast episode is around 35 minutes long, containing approximately 4,000 words—equivalent to seven average-length blog posts. This makes podcasts a convenient option for those looking to maximize their time.
Repurposing Podcast Content
One significant advantage of podcasting is the potential for repurposing content. Each episode can be transformed into multiple forms of content, broadening your reach and lightening the workload for your marketing team.
For example, you can create short social media snippets from podcast episodes, perfect for platforms like Instagram and Twitter. These snippets can showcase key points, intriguing quotes, or behind-the-scenes insights, driving traffic back to the full episode.
Additionally, you can turn podcast episodes into blog posts, catering to those who prefer reading or enhancing your SEO. You might also create YouTube videos by pairing your podcast audio with relevant visuals or slide presentations, appealing to an audience that favors video content.
Furthermore, transcripts of your podcast episodes can be transformed into downloadable guides or eBooks, which can serve as lead magnets for growing your email list. By offering these resources, you provide additional value to your audience while capturing new leads.
Repurposing content not only helps you reach a broader audience but also ensures that the effort you invest in creating your podcast pays off in multiple ways. It maximizes the impact of each episode and keeps your content strategy efficient and scalable.
Pitfalls to Avoid
While podcasting offers numerous advantages, there are a few pitfalls that can hinder your growth strategy.
Lack of a Clear Target Audience: Many businesses jump into podcasting without a clear understanding of their target audience. Without knowing who your ideal listener is, it becomes challenging to create engaging and relevant content. It’s crucial to identify your perfect listener and craft episodes that directly address their desires, interests, and pain points.
Inconsistent Publishing Schedule: Failing to maintain a regular publishing schedule can lead to waning interest from your audience. To keep listeners engaged and committed, it's essential to release episodes consistently. A reliable schedule helps maintain momentum and fosters a loyal following. If episodes are released sporadically, listeners may lose interest over time.
Neglecting Promotion: Producing great content is only half the battle; promoting your podcast effectively is equally important. Failing to publicize your podcast can result in it being overlooked. Utilize social media, email marketing, and collaborations with other podcasts to spread the word. Creating buzz and attracting listeners is key to growing your audience.
To maximize the potential of your podcast and enhance your growth strategy, it’s vital to avoid these common mistakes and approach your podcasting efforts with a thoughtful plan.
Measuring the Success of Your Podcast
To ensure your podcast effectively contributes to your growth strategy, it’s essential to track and analyze key metrics.
Listener Retention Rate: This metric indicates how much of each episode your listeners actually finish. A high retention rate signifies that your content is engaging and relevant to your audience. Conversely, low retention may suggest that episodes are too lengthy, lack focus, or fail to deliver sufficient value. To improve, consider tightening your content, honing in on the most engaging topics, and experimenting with episode lengths.
Number of Downloads per Episode: This is perhaps the most straightforward metric for gauging your podcast's popularity. While downloads alone don’t tell the entire story, an increasing rate over time indicates growing interest and reach. Additionally, comparing download numbers across different episodes can provide insight into which topics resonate most with your audience.
Subscriber Growth: Tracking subscriber growth is crucial for understanding how well your podcast retains existing listeners and attracts new ones. Steady growth in subscribers suggests that your content is appealing and valuable, encouraging listeners to seek out more episodes.
Social Media Engagement: The level of engagement your podcast generates on social media can reveal how well it resonates with your target audience. Monitor likes, shares, comments, and mentions to gauge your podcast's reception. High engagement on social media not only enhances visibility but also attracts new listeners.
Reviews and Ratings: Positive reviews and high ratings—especially on platforms like Apple Podcasts—greatly enhance your podcast's credibility and visibility. Encourage your listeners to leave reviews and rate your episodes, and take the time to respond to feedback. This demonstrates that you value your audience's input and fosters a sense of community around your podcast.
Listener Feedback: Direct feedback from listeners via social media, email, or surveys can provide valuable insights into what works and what doesn’t. Use this feedback to refine your content, explore new topics, and implement changes that align with your audience's interests.
Conversion Rates: Ultimately, one of the most critical metrics is how well your podcast converts listeners into customers or clients. Track the number of listeners who take action after hearing your podcast—whether that’s signing up for your email list, attending a webinar, or making a purchase. This will give you a clear picture of how effectively your podcast contributes to your overall business goals.
By consistently monitoring these metrics, you can make data-driven adjustments that keep your podcast strategy aligned with the growth of your business.
The Role of Podcasts in the Broader Content Ecosystem
Podcasts are becoming central to a business's content ecosystem and should be seamlessly integrated with video, written articles, and social media.
Content Integration: Podcasts can complement and deepen the discussion of topics covered in other content formats. For example, a blog post might introduce a subject that is then explored in greater detail in a podcast episode. This cross-platform approach ensures that your message reaches your audience through their preferred medium—whether they enjoy reading, watching, or listening.
Content Repurposing: As previously mentioned, podcasts are incredibly versatile and can be transformed into various other formats. This not only extends the life of your content but also helps maintain a consistent presence across multiple platforms. For instance, a podcast episode can be transcribed into a blog post, summarized in a newsletter, or broken down into a series of social media posts.
Building a Content Hub: A well-organized content hub on your website can house all types of content—podcasts, blogs, videos, and downloadable resources—in one convenient location. This makes it easy for your audience to access your content and engage with your brand on multiple levels. By integrating your podcast into this hub, you create a comprehensive resource that caters to diverse learning styles and preferences.
Enhancing SEO: Incorporating podcasts into your broader content strategy can also boost your SEO efforts. By providing transcripts, show notes, and related blog posts on your website, you increase the amount of keyword-rich content available to search engines. This can improve your website's rankings and drive more organic traffic.
Cross-Promotion: Podcasts offer excellent opportunities for cross-promotion. For instance, you can promote blog posts, webinars, or video content during your podcast episodes to encourage listeners to explore more of your content. Conversely, you can use your blog or social media platforms to promote your podcast, effectively driving traffic within your content ecosystem.
Podcasting in Your Growth Strategy
As we've discussed, podcasting can be a powerful asset in your overall growth strategy. Understanding where your podcast fits within your marketing funnel and using it primarily to engage and build trust can significantly enhance your connection with your audience, ultimately guiding them toward becoming loyal customers.
Remember that podcasting is not a standalone tactic; it must be integrated into a larger marketing framework. By aligning your podcast with lead generation and the sales process, you can cultivate stronger relationships, establish thought leadership, and convert more leads into loyal clients.
However, it's essential to approach podcasting strategically to avoid common pitfalls and to regularly measure your success through key metrics. As podcasting continues to evolve, staying informed about emerging trends and integrating your podcast into your broader content ecosystem will be crucial for maintaining its effectiveness as a growth tool.
Ultimately, the success of your podcast—and, by extension, your business—depends on how well you implement these strategies. By adopting a value-driven approach, maintaining consistency, and adapting to your audience's changing needs, you can ensure that your podcast plays a meaningful role in your overall growth strategy.
Invest the time to refine your approach, whether you're starting fresh or optimizing an existing podcast, and be open to experimenting with new ideas. The effort you put in can yield significant rewards.
Putting It All Together
Your business’s growth will really boil down to how effective your marketing funnel is.
If you’re still figuring that out, I recommend choosing one tactic for each step in the process that works well for your business.
Just keep in mind that it should be a sequential process.
That means your lead gen source should flow naturally into your engagement source, which should flow naturally into your selling mechanism.
For example, let’s say you’ve decided that doing Facebook ads has been a great way for you to generate leads, and you’ve used email to stay engaged with those leads and tell them about your upcoming webinar that will sell your product or service: That’s your marketing funnel.
And as I said, you can mix and match how you do it.
Once you’ve got a solid setup, you can figure out how to make other methods work in your overall strategy, too.
Podcasting often gets added in after business owners have figured out their lead gen source and have their sales mechanism ready to go.
Sometimes they even have an engagement mechanism already set up, as well.
Typically, it will be email, which is a great start.
But there’s even more opportunity for engagement and trust-building among existing leads via podcasting.
What’s more, a lot of times a podcast helps people do email better because it gives them a good reason to reach out with a value add for their audience regularly.
But where business owners tend to get tripped up is by thinking that podcasting should be how they grow their audience.
That’s not the most effective way to think about podcasting.
Yes, generating leads is important, but if you are looking to grow your audience, do more lead-generation activities like Facebook advertising, networking, speaking engagements, etc.
The leads you generate from those activities will feed the rest of the process, which—if you do it right—will ultimately generate more sales.
And that’s where true business growth happens.