10 Terrific Reasons For Starting A Podcast

Why should you start a podcast? In this article, you’ll learn 10 terrific reasons for starting a podcast for your business.

Podcasts are audio programs or spoken word broadcasts delivered through podcast networks or channels. They aim to provide the audience with useful and actionable information in an engaging and conversational format.

Podcasts are both effective and convenient, as the listener can multitask and play them in the background while commuting, doing chores at home, or relaxing in bed.

Podcasts can be delivered individually, or as a series, depending on the topic, and the needs of the audience.

Podcast Statistics You Should Know

In 2006, only 22% of US citizens knew what podcasts were. Today about 70% of them are aware of podcasts and their benefits. According to TechCrunch, there will be a 27% increase in podcast production, equivalent to 29 million episodes, in 2020.

Further, Spotify is likely to outdo its competitor, Apple, in the popularity game, as only 20% of the millennials and Gen Z population listen to Apple music, while 46% of them listen to Spotify, according to a study by The Podcast Host.

However, many new platforms will be distributing audio content this year, so you can expect competition to increase. So, if you’re planning to make money with podcasting, there’s no better time to start one.

10 Reasons For Starting A Podcast In 2020

Are you wondering whether you should start a podcast? Here are 10 reasons why you should leverage podcasts to grow your business in 2020 and beyond.

1. Ease of production

Creating a podcast is easier than producing a video. All you need to do is speak on a certain topic and record it with the help of podcasting software to minimize noise and enhance the audio quality.

Podcast editing is also much easier than editing videos. You’ll need an intro and outro to start and end your podcast. There are a number of podcasting tools that will make it easy to do this.

2. Low entry costs

Another advantage of podcasting is the low entry cost, as compared to video production. All you need to do is download a free podcasting app and you can start recording your first show.

You don’t even need expensive audio equipment as Smartphone audio recorders will give you good enough audio quality that you can clean up with the help of the podcasting app.

Once you become a professional podcaster, you can create a high-end podcast studio, with all the bells and whistles, but by no means do you need it to get started.

3. Language is no barrier

You don’t need to learn English to start a podcast. It’s easy to create a podcast in any language, so go ahead and record your podcast in your native language.

According to a KPMG study, Indian language internet users are set to reach 536 million people by 2021. As of June 2019, PWC estimated the Indian podcast listener base was at 40 million by end of 2018, a 58% rise from the year before.

India is now the third-largest market for spoken-word audio such as podcasts and most Indians who listen to podcasts do so on their phone. A vernacular podcast has more chance of success as it has much less competition than English language podcasts.

4. Repurpose your blog and video content as audio

If you have a blog and YouTube channel, you can repurpose your existing blog and video content into audio to create a podcast. This will allow you to reuse your existing content to reach listeners who prefer audio over video and text.

5. Less competition than blogging and YouTube

Blogging and YouTube marketing are both reaching saturation with over 10 million blog posts published every day and more than 500 hours of video uploaded to YouTube every minute.

Podcasting is still relatively new as compared to blogging or video marketing, so the competition is not as fierce and it’s still possible to get found by your listeners.

6. Easier to grow a following as a podcaster

Because of less competition and the fact that those who listen to podcasts can’t get enough of them, you’ll find it easier to grow a following as a podcaster.

If you choose a good niche and put out great content consistently, you shouldn’t find it hard to build a loyal following.

7. Successful podcasters make millions of dollars a year

John Lee Dumas generates over 100k a month from his Entrepreneurs On Fire podcast and the Podcaster’s Paradise community for podcasters.

Of course, these guys have been at it for years, painstakingly building and nurturing an audience. If you intend to make a full-time income from podcasting, you’re going to have to work at it and treat your podcast as a business.

8. Build connections by interviewing influential guests

One of my favourite advantages of starting a podcast is that it allows you to connect with and build relationships with very influential people who might otherwise not have given you the time of day.

I’ve managed to build a relationship with a number of influencers and well-known personalities through my podcasts, even though I don’t have hundreds of subscribers yet.

Interviewing influencers on your podcasts will give your followers a glimpse into the mind of their favourite influencer and help you get more subscribers and downloads, too.

9. Showcase your public speaking skills

One of the best ways to promote yourself as a speaker is to start a YouTube channel. The next best way is to start a podcast. If you’re serious about a public speaking career, ideally you should have both.

A video channel and podcast will help you showcase your public speaking skills in front of meeting and event planners who need to ensure that you’re a good choice when they invite you to speak at their conferences and events.

10. Build authority links back to your website

When you start your own podcast it’s very likely that you’ll get invited to speak on other podcasts too. Every time you land an interview on a podcast, your host will link back to your website and landing pages in the show notes.

Podcast interviews are one of the best ways to get lots of relevant, authority links pointing back to your website because there’s no cost involved.

All you have to do is spend some time sharing your insights with the audiences of other podcasters. In exchange, you’ll land a high-value link to boost your search rankings and get more exposure for your brand.

Did you like this article on 10 terrific reasons for starting a podcast for your business? Do leave a comment and let me know.