Here Is Why You Should Start A Podcast

When you mention starting a podcast to anyone, you will receive many mixed suggestions. Some will be wildly negative, and others might be positive.

There is a general perception that podcasting is a dying medium, but it could not be wrong. Statistics show over 80% of listeners spend up to seven hours a week listening to podcasts.

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Podcasts have a large audience, especially among the young generation. Statistics reveal that 41% of podcast listeners are millennials. Still on the fence about starting a podcast? Here is why we think it is a great idea: 

If You like to Talk, Start a Podcast

Start a podcast if you are passionate about a topic or a niche and like to talk about it. Podcasting is perhaps the best means to communicate with an audience over a topic you commonly feel passionate about. There are limited restrictions, and it is an engaging medium. 

If you understand the topic, you can position yourself as a field expert by imparting your wisdom to the audience. You could also geek out with your community over mutually shared interests. Since it has an audial aspect, podcasting is more engaging than writing. 

It Is Relatively Cheap

Contrary to popular belief, podcasting is a low-cost way of producing content. Video production can be expensive. Worrying about the camera angles, lighting, sound, and the extensive editing process would be best. It is not the case with podcasts. Podcasts are unedited, long recordings of you talking. It is meant to be raw and original. 

The video component is optional. However, even if you do record a video for your podcast, it would be just you sitting in one spot. You do not have to worry about a multi-camera, fancy shot. The video setup can be simple, as, with podcasts, the audio takes center stage.   

Organic Traffic

Podcasts are a great way of bringing in an audience. You generate organic traffic through podcasts if you run a website or have a business online. It is an engaging medium. You can talk about your business and the products/services you sell and call guests relevant to your industry. This would engross your target audience. 

You can also use podcasts to advertise. According to statistics, 55% of listeners have bought a product/service promoted on podcasts. Furthermore, almost 90% of podcast listeners find advertisements in this medium useful.   

Potential for Monetization

There is a prevalent belief that podcasts do not make you any money. This is an exaggeration. If your content is engaging and capable of drawing in an audience, you will be able to monetize it. According to statistics, the popular show ‘The Joe Rogan Experience’ grossed over $30 million in 2019. 

Furthermore, statistics reveal that comedy, true crime, and sports are the most popular genre of podcasts. If you can make these your niche, you can earn good money.

A Convenient Method to Consume Content 

Podcasts primarily engage your sense of hearing, so you can perform other tasks while listening to a podcast. This makes it the most convenient way to consume content. According to statistics, 94% of the audience listens to podcasts while performing other tasks. Therefore, you can quickly run errands, drive to work or back home from work, and work out while listening to a podcast.

Summary

Contrary to popular opinion, podcasting is not a dying medium but a thriving and practical way to share content. With over 80% of listeners dedicating up to seven hours a week to podcasts and 41% of those listeners being millennials, the audience is large and engaged. Podcasting is an excellent avenue for those passionate about a specific topic or niche, as it allows them to interact with a receptive audience. It’s also a cost-effective way to produce content, as it doesn’t require the extensive editing and technical considerations that video production does.

Podcasts can generate organic traffic for online businesses and websites, with 55% of listeners have purchased a product or service promoted on a podcast. Nearly 90% of listeners find podcast advertisements useful, indicating the platform’s potential for monetization. Successful podcasts, like ‘The Joe Rogan Experience,’ have earned millions in revenue.

The convenience of consuming podcasts is indeed highlighted, with 94% of listeners being able to multitask while tuning in. As I conclude this article, I strongly encourage those interested in adding something meaningful to the conversation to consider starting their own podcast.

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Author

Steve has entrepreneurship in his DNA. Starting in the early 2000s, Steve achieved eBay Power Seller status which propelled him to become a founding partner of VisionPros.com, a contact lens and eyewear retailer. Four years later through a successful exit from that startup, he embarked on his next journey into digital strategy for direct-to-consumer brands.

Currently, Steve is a Senior Merchant Success Manager at Shopify, where he helps brands to identify, navigate and accelerate growth online and in-store.

To maintain his competitive edge, Steve also hosts the top-rated twice-weekly podcast eCommerce Fastlane. He interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, that assist Shopify-powered brands to improve efficiencies, profitably grow revenue and to build lifetime customer loyalty.

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