Boost Profits by Advertising on a Podcast Now

The Reasons Why Podcasting Can Now Boost Your Profits More Than Before

This format is awash with more audience size and advertiser enthusiasm. Now is the perfect time to benefit.

Key Takeaways

  • 81% of those who listen to podcasts respond to an ad read by the host, and 52% of listeners report having more faith in the advertisers on their favorite show, which means it’s now easy to make money.
  • Considering the content type and format carefully, preparing lists of experts who are available to interview for new insights, utilizing cross-show strategies for promotion, and ensuring consistency of the show are key to successful events.

The opinions of Entrepreneur contributors are their personal opinions.

Of the numerous advertising and growth strategies that can boost the bottom line of a company, it’s unlikely that podcasting is the first thought that pops into your mind. However, even a quick look at the numbers shows that it could be a great engine for actual growth.

As an owner or entrepreneur, you are most likely to bring real-world experience to your field of expertise — you have unique perspectives and expertise that offer entertainment as well as valuable insights to an audience. This can lead to more awareness and sales.

An engaged and large audience.

Pew Research from 2023 has revealed that an astounding 43 percent of Americans who are between the ages of 12 are listening to podcasts on a regular basis. Statista estimates the amount of daily U.S. listeners to be in excess of 100 million at 2024’s end and 110 million in 2029. Perhaps even more significant than the number of people listening to this show is the degree of engagement this industry has, especially in responses to advertisements. Research from Spotify shows that 81 percent of those who listen to podcasts decide to take action following hearing ads read by hosts, while 52% say they are more likely to trust advertisers who a host of a podcast supports.

If you’re not confident about creating your podcast, becoming a sponsor can also pay off. Through advertising on a podcast, you get access to an audience that is highly engaged and is more likely to respond differently than if they were exposed to your message by other means.

Connections that result in actions

Although podcasts can give significant benefits to companies marketing on them, their impact is greater when a company actually creates the show, largely because hosts are one of the most influential individuals in the lives of listeners. As per research by Marketing Charts, 78% of those who listen say they share a close relationship with their favorite podcast hosts. They also are more likely to state that podcasters (as opposed to those who influence social media, for instance) change their minds regarding topics. In fact, 75 percent of podcast listeners believe that hosts are their most influential media influencers (far ahead of celebrities in other media fields).

The sharing of your experiences and voice in this manner each week — can help viewers feel connected on a deeper scale in a way that isn’t feasible with other forms of advertisement. For instance, as per a report by Tamra Andress, the host of The Messenger Movement podcast, has over 450 shows and is at the top 0.3 percent globally for faith and business-related shows within this category. The leads generated by the show helped propel her business to a six-figure income in 2021. The number of leads will double every year after that.

Utilizing the platform effectively

One of the most significant benefits of podcasting is the fact that it provides a variety of avenues to boost the bottom line. However, to get the most out of it, the use of a solid plan is essential, which includes being aware of what type of content will bring the highest interest and worth. Make connections to discover experts to interview and share unique insights. Be mindful of the various ideas and perspectives only you are able to impart.

The next step is for content to be consistently produced. A schedule that is once per week is suitable for a variety of brands because it gives the time to prepare for each broadcast while also becoming an integral part of the viewers’ routines.

Through the combination of regularity eng, engagement, and consistency, you establish authority in your field of expertise. You will go from being unknown to being considered an authority, usually by engaging with the appropriate guests. In the ideal scenario, they will bring in their audiences, who are likely to stay and take a look at future episodes. The data has shown that these people who are new to listening tend to recommend your podcast to friends within their network.

The idea of sitting down at the microphone to talk about your story, tips, or ideas on the latest trends in your industry may be daunting initially however, many entrepreneurs have discovered that a successful podcast can provide a way to expose your brand to new viewers who would not have been aware of the brand otherwise.

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