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    How To Use Podcasting to Grow Your Business Today

    If you’re one of the many business owners out there interested in getting into podcasting, then rest assured that you’re headed in the right direction. Podcasting is one of the most effective forms of content and has exploded onto the scene with listener stats rapidly increasing year over year.

    Recent research conducted by Apple found that there are currently over 550,000 podcasts established as of June 2018. This number includes “…over 525,000 active shows and over 18.5 million episodes”, according to Fast Company.

    That’s pretty insane.

    There’s pretty much no denying the rising popularity of podcasting — especially for savvy business owners. So, if you’re looking for an article that can give you the scoop on the benefits of podcasting, then you’ve come to the right place. In the following paragraphs we’ll not only discuss various reasons why podcasting can help grow your business, but also provide you with a handful of tips on how to start off on the right foot.

    Why Podcasting Boosts Growth (600w)

    You’re totally #trending

    Podcasting has steadily grown in popularity with both consumers and businesses for over a decade. The charts don’t lie. If you’re one of the many business owners out there who feel like you may have missed the boat on trends in the past, then podcasting is the perfect option for you, because you’re right on time.

    As of 2018, a whopping 50% of all households listen to podcasts. Podcast listening has grown from 15% in 2013 to a whopping 27% in 2017 for men. For women, the stats are even more significant. In 2013 only 9% of women had listened to a podcast in the past month. This number grew to 21% in 2017 — almost tripling.

    Another interesting fact is that 65% of listeners have been listening for less than three years — which gives a great deal of insight regarding the status of the trend. Furthermore, Bridge Ratings recently predicted that podcast ad spend will grow as much as 30% in 2018.

    Podcasting establishes authority

    Podcasting, just like other forms of content is an extremely effective way to help you and your business establish authority in your industry. When implemented professionally and properly, podcasting gives you a platform to voice your knowledge, insights and opinion on topics in your industry that matter most. If you’re well-read, in-the-know and have a good amount of quality information to bring to the table, then you’re officially an authority figure.

    Podcasting spreads awareness

    Podcasting  tis an excellent tool to help spread awareness of your brand. Whether you’re a budding startup, entrepreneur or an established business, tapping into the listening pool of podcasting is a killer way to help get your brand out there. The key once again, however, is implementation. Consistent, high-quality content delivered to a well-defined target demographic in a niche where you can effectively compete is key.

    Podcasting can be extremely cost-effective

    When it comes to content creation, podcasting can be extremely cost-effective in comparison to other forms of content. Writing requires the combination of both ability and time to create high-quality content, and with long-form content proving to be most effective, many entrepreneurs can quickly find themselves burned out. Hiring a writer to turn around high-quality industry-specific content can also be a difficult endeavor for entrepreneurs and businesses facing a more limited budget.

    Vlogging also presents problems for those less-tech savvy entrepreneurs or businesses on a limited budget. If you want to stand out and be effective with your vlogging, you’re going to need a quality camera, accessories, editing software and a decent camera and lights setup.

    Furthermore, handling edits can be extremely time consuming and outsourcing just adds to the cost of production. Then, once it’s all said and done — where are you going to put your setup? If you’re a home-based business owner, you’ll need to dedicate an entire room to this process when it’s all said and done or have the ability to rent studio space.

    Podcasting on the other hand, in comparison is much more cost-effective. All you need is a good microphone and audio editing software such as Audacity to start.

    Podcast listeners are extremely loyal

    Even better is the fact that podcast listeners tend to be an extremely loyal demographic. According to recent research by Nielsen in the first quarter of 2018, 16 million individuals in the United States alone identify as “avid podcast fans”, with 80% of listeners listening to either most of or all of their podcast episodes in full. Furthermore, these listeners also listen to an average of 7 shows per week.
    Podcast listeners are a prime demographic to target

    Finally, podcasting can help boost business growth largely in part due to the fact that many of the listeners are an ideal pool of consumers to target for business purposes. The listening demographic is split almost down the middle with 56% of podcast listeners being male and 44% being female and an insane 45% of monthly podcast listeners report a household income over $75k.

    This is 10% higher than the general population.


    Podcasting for business: 6 tips to get started

    So, you’ve been made aware of the numerous reasons why podcasting is a great tool to use to help grow your business, so now what? Well, we’ve included a quick and snappy little guide to help get you started on the right food if you’re considering using podcasting to boost business growth.

    1. Come up with a strategy

    What are you looking to accomplish with your podcast? Is your primary objective to build your email list? Is it to establish and build your brand or spread awareness? Define your target goals and then proceed to set up periodic milestones to help keep you on track. How many listeners are you looking to pull in a month? How quickly are you looking to grow and what numbers are you looking to achieve by what date?

    Defining and documenting a well-thought out strategy and constantly reviewing and tweaking it is absolutely imperative for success.

    1. Define your niche

    We can’t emphasize the importance of defining your niche enough. The biggest mistake you can make when it comes to podcasting is jumping in headfirst without doing and market research. What industry are you currently in? What is your competition? A simple Google search can quickly answer this for you.

    What about your target demographic? The more detail you give to this the better. For example, identifying your target as millennial women, is going to be significantly less effective than a target demographic of, let’s say, millennial women with children and household incomes of $50K or greater. Your consumer pool may decrease with specificity, but it’s important not be afraid of this as the more specific you become, the more your marketing strategy increases in effectiveness.

    Finally, what’s your USP? What are you going to do differently with your podcast that others arent? For example, John Lee Dumas of Entrepreneurs On Fire decided to position himself in his industry as one of the only podcasters in the business pumping out podcasting episodes on a daily basis. It’s pretty intense, but he’s been extremely successful with this strategy.

    1. Create a schedule
      Creating a schedule and sticking to it is going to be of paramount importance as well. If you’re going to go through all of the trouble to start up a podcast and then follow through with delivering content on an inconsistent basis, then you’re going to fail — point blank.

      You need to instill trust in your listeners and a large part of the job is simply just showing up when you say you will.
    1. Record ahead of time
      In the television industry series are often filmed months in advance of their air date and podcasters should take a page out of their handbook when it comes to recording. Whether you’re recording a week’s worth of episodes, three month’s worth of episodes or an entire series in advance, just do it. Trust us — you’ll thank yourself in the end. So maybe you decide you want to release a weekly podcast. An effective option to take in order to get on top of your recording schedule is to film perhaps two to three podcasts a week, while only releasing one.

    This helps keep the process smooth and efficient and will help you immensely when it comes to the inevitable crises that will pop up from time to time.

    1. Collaborate
      This is extremely important advice, especially for all you loner, rebel entrepreneurs out there. We’re not telling you that you can’t do it alone — but why the heck would you want to? Collaborating is efficient, effective, helps build your professional network and helps establish credibility. Plus, when you collaborate with like minded individuals, you’re able to leverage their audiences as well. It’s a win-win. So whether you’re a guest on someone else’s podcast, or you bring guests onto your own, collaborate with those around you.  
    1. Monetize
      There are tons of ways to monetize your podcast — all it takes is a little bit of research and some good old fashioned hard work. Selling sponsorships is probably the most popular method and with ad revenue increasing as much as 30% in 2018 alone, sponsorships present an awesome opportunity for podcast monetization.

    So get your email pitch together and start scouting businesses. Pricing is typically done in  CPM (costs per mille) manner. This means that industry rates are calculated based on how many thousand listeners you can guarantee the advertiser that you’ll be able to pull in at the 6 week mark. Other options are CPA (cost per acquisition — the cost of acquiring one new customer), or just a flat out “Name Your Own Price” strategy.

    When it comes to advertising, it generally works best when it’s baked into your content. So if you’re covering a topic related to an advertiser, this is the ideal way to do it. Negotiating with your advertisers is key to ensure statisfaction and longevity, but many professionals structure their advertising by offering both a pre-roll and a mid-roll.

    John Lee Dumas for example recommends offering a 15-second pre-roll at $18/1000 listens (where you roll off information about your sponsors in the beginning of your episode) and a 60-second mid-roll at $25/1000 listens (dropping sponsor information mid-way through the podcast episode).

    At this amount, if you could pull in 10,000 listeners by the 6 week mark for your episode, you would pocket $180 for the pre-roll and $250 for the mid-roll, bringing in a total of $430 for the combination. Add another sponsor and you’ve just doubled your income to $860. Release 4 episodes a month and you’re raking in $3,440. Cha-ching!

    Keep in mind that sponsoring is nowhere near the only way. There are dozens more ways in which you can monetize your podcast and all it takes is some research and creativity. For example, you could also use your podcast to build your email list and sell products such as apps and books, courses and even business services.

    Conclusion
    So there you have it! All of the amazing reasons why you as a business owner should definitely be considering harnessing the power of podcasting for your business. With podcasting, you have the ability to help spread awareness, establish yourself as an industry authority, build your brand and tap into an insanely loyal and lucrative pool of consumers in an extremely cost-effective manner.

    The numbers don’t lie — and with consistent year-over-year growth for the past decade, now is the perfect time for you to dive in headfirst into what can quite possibly be your most lucrative endeavor yet. U So what are you waiting for?

    Have you started a podcast in the past or are you currently running your very own podcast to help boost your business? If so, leave a comment below for some first-hand insight! We’d love to hear from you!

     

    Sources:
    https://www.podcastinsights.com/podcast-statistics/

    https://www.fastcompany.com/40563318/apples-podcasts-just-topped-50-billion-all-time-downloads-and-streams

     

     

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    The Top 10 Reasons Why Gary Vee is Winning the Marketing Game

    Let’s be honest – pretty much everyone and their mother has heard of Gary Vaynerchuk in the world of entrepreneurship and digital marketing. I mean, this guy is the absolute personification of marketing success. This award-winning entrepreneur, author, public speaker and thought leader has everyone from Turner Broadcasting System to Anheuser-Busch vying for his expertise.

    In fact, his list of Fortune 500 companies include the likes of General Electric, Mondelez and even PepsiCo.

    So what’s the key to Vaynerchuk’s success? Well, we’ve isolated the top 10 reasons why Vaynerchuk is absolutely killing it at the marketing game and we’ve boiled them all down in a nice little listicle for your reading pleasure. Enjoy.

    1. Time

    Many individuals may be surprised to find out that Vaynerchuk started out in his family’s wine business at the age of 14. Now, while he may have not necessarily known at the time that his life path would take him into a world of  digital marketing and entrepreneurship, the fact remains that he was putting in work in the family business at an age when most of us were still playing video games and watching Are You Afraid of the Dark?

    Vaynerchuk graduated with his bachelor’s degree in 1998 at which point he assumed daily control over the family business. Yes, that’s right – 1998 – twenty years ago. When it comes to time, Vaynerchuk doesn’t play around – and it’s this very quality that sets him apart from the rest.

    Source

    2. Embracing Video Since Day One

    Vaynerchuk started with video from the very beginning, when he was still working for his family’s wine business just out of college. Needless to say, he had a bit of an edge up on the competition. After switching the family business name to Wine Library, Vaynerchuk launched online sales with the inception of Wine Library TV – a daily webcast which he hosted from 2006 to 2011.

    Vaynerchuk attributes his success to being a “good entrepreneur”. The media mogul credits a good entrepreneur as one that “…tastes the vibrations of  where the world’s going…I though online video was going to be a big deal…I just knew that I wanted to try it because it was going to be a big deal.

    Source

    3. Authenticity

    If you’ve ever been witness to a Gary Vee podcast, interview, speech or read any of his books, then you know firsthand the kind of no-nonsense, in-your-face honesty this man has to offer. This guy does not shy away from profanity and his matter-of-fact style coupled with the depth of insight he brings from his life experiences is what makes him shine.

    Simply put – he’s not your average, run-of-the-mill entrepreneur out there giving speeches riddled in business talk and ambiguous concepts. He breaks things down in layman’s terms and gets straight to the point – and this is why he’s so beloved.

    “I didn’t realize I was a showman, or an extrovert on-screen, but I ended up being that too, which didn’t hurt.”

    Source

    4. Maintaining a Consistent, Active Social Presence

    Ever since 2006 Vayner’s had his eye on the prize and his social presence has been felt for over two decades. Through his wine vlogging efforts and business savvy, Vaynerchuk was able to grow his family’s business from $3 million to $60million a year by 2005 – just seven years after he graduated with his bachelor’s from college.

    Vaynerchuk’s YouTube docu-series’ #DailyVee details his life as an entrepreneur and was started in 2015. The series also gives viewers the benefit of seeing him interview other important figures and gives an  up-close and personal view of his investor meetings and strategy sessions at VaynerMedia.

    His other series,  #AskGaryVee began in 2014 and involves him answering pressing questions from his viewers on topics such as social media, entrepreneurship and family. These two channels collectively bring in more than 1 million subscribers combined and you better bet he’s still writing, speaking, holding podcasts and yes, even occasionally reprising his role on WineLibraryTV.

    Source

    5. Self-Promotion Through Authorship

    Vaynerchuck doesn’t just stop with a massive YouTube presence and making a name in the business world. This guy reaches for the stars.  Not too long ago he signed onto a $1 million, 10-book deal with HarperStudio.

    His first publishing experience brought him widespread recognition with the ever so memorable Crush It! Why Now is the Time to Cash in on Your Passion (2009). This book reached #1 on the Amazon best seller list for web marketing books, #2 on the New York Times’ hardcover advice best seller list, and yes — even made it on the Wall Street Journal best seller list as well.

    His second book The Thank You Economy was released in 2011 and reached #2 on New York Times hardcover advice bestseller list. Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World, released in 2013 topped both the New York Times and Wall Street Journal’s best seller lists.

    His most recent book, AskGaryVee: One Entrepreneur’s Take on Leadership, Social Media, and Self-Awareness, was created after his insanely popular YouTube show and published in March of 2016.

    The point? Authorship not only establishes and spreads brand awareness — it also promotes credibility and thought leadership. #winning.

    Source

    6. Thinking Out of the Box

    In a recent interview, Vaynerchuk credited his success with his ability to think outside of the boox and find the most creative solutions for legacy companies and startups alike. The key is, according to him, to “look at the problem from different altitudes” and “bend the lines”.

    “You can tinker with the parameters in ways people didn’t think were possible,” says Vaynerchuk.

    This is precisely why legacy companies such as General Electric value his mind. According to Linda Boff, GE’s Chief Marketing Officer, Vaynerchuk shows companies how to “behave like a startup”. Boff credits him and his team as being “essential” in their efforts to stand out on social media and “act as a person…rather than a company.”

    Source

    7. Data Collection

    While much of Vaynerchuk’s success can be attributed to his personal traits and character, the truth of the matter is that his initial achievements were founded upon data collection and still to this very day are.

    In fact, Vaynerchuk credits the family business email service as the main driving force between the success he found when switching the business to online, crediting it as a “hugely positive” step. He credits data collection as a “huge force” in the business’ growth and the main reason as to why he is relevant today.

    There was no way I was building something from $3 million to $60 million in a heartbeat without the Internet or the website…Now, I look at social media and it’s the same thing, but it takes longer for it to develop. It’s running a marathon instead of sprint. Email and Google AdWords is a sprint, social media is a marathon. Together, you’re an unstoppable force. 

    Source

    8. Passion

    This guy just absolutely oozes passion whenever he speaks. I mean, who ever thought that anyone could steal the spotlight from Casey Neistat? it’s pretty clear that Vaynerchuk loves to talk — and this is exactly what makes him so awesome and fun to watch and view as a mentor.

    On a recent episode of #AskGaryVee, Vaynerchuk and Neistat discuss the importance of  discovering one’s true passion and building a life around this passion. He also discusses the importance of not lying to oneself and being more realistic about their talents and gifts, as well as their weaknesses.

    “I think that being authentic to yourself, first and foremost, has a very substantial…very substantial upside.”

    He also touches upon the importance of being productive with one’s spare time and not just paying lip-service to the ideal of entrepreneurship but actually putting your nose to the grindstone.

    “You gotta do — There’s really no alternative to doing…the only way to succeed is to execute and the only way to execute is to do it after hours…and unless you come home and work until 2AM, nothing is going to happen.”

    Source

    9. He’s Extremely Media Savvy

    There’s no denying that Vaynerchuk is one media savvy guy. I mean seriously, he’s been featured in GQ, Time Magazine, The Wall Street Journal, Inc.com and The New York Times — to name a few. Oh, and that’s not all, he’s also been featured on various popular television shows such as Late Night with Conan O’Brien and Ellen.

    Even more, in 2003, Market Watch magazine made him the youngest recipient of it’s “Market Watch Leader” award. In 2009 Decanter ranked him as #40 on “The Power List” and two years later he made it onto the Wall Street Journal’s list of Twitter’s Small Business Big Shots.

    Phew.

    Did we mention Bloomberg Business Week named him as one of the top “20 People Every Entrepreneur Should Follow” and in 2013 he made the cover of  Inc.magazine due to being spotlighted in a feature titled “How to Master the 4 Big Social-Media Platforms.”

    In 2014, he was named to Fortune’s “40 Under 40” and during this time period he also judged a Miss America Pageant, the 2016 Genius Awards, and was working on several entrepreneurial pursuits including his Planet of the Apps.

    This reality TV series was a self-described “Shark Tank Meets American Idol” and was hosted by Vaynerchuk, himself, Gwyneth Paltrow and Will.I.Am.

    Needless to say, the guy loves the spotlight — and apparently — the spotlight loves him too

    Source

    10. Grit

    “Ya, going back even further, when I was 5, I was doing lemonade stands, washing cars, shovelling snow.”

    Vaynerchuk’s got grit.

    Not only was he working in the family business at 14 years old, but he spent practically every single day of his high school life dedicated to the job. “And I mean everyday, literally from the first day of the summer to the last, except for Sundays sporadically”, says Vaynerchuk about the experience.

    This led to an increase in knowledge, which was perpetuated by his voracious appetite for reading and his commitment to understanding customers and their needs on an innate level.

    “I used my ears quite a bit in those early days” he says.

    At around 17 he started making waves in business sales which led to him having influence in business decisions at 18 and by the time he was 22 years old, Vaynerchuk was running day-to-day operations.

    Ever since then he’s never looked back. Fast forward to 2009 and he’s co-founded VaynerMedia, The Gallery, VaynerRSE, BRaVe Ventures, VaynerSports and has a boatload of best selling books under his belt.

    This guy is unstoppable and his grit and determination are unparalleled.

    Source

    Conclusion

    Vaynerchuk is perhaps one of the most successful digital entrepreneurs in the industry. His diverse online presence coupled with his media savvy, drive and years of hard work have made him practically a household name. I mean, seriously – the guy’s even been on Ellen.

    Those looking to follow in the steps of Vaynerchuk need look no further than his never-ending drive and commitment to consistency and personal growth. While it’s true that Vaynerchuk has developed a sound number of business strategies that he’s implemented to practical perfection, the truth can’t be ignored that his personal character traits play a vital role in his success.

    One of my favorite quotes  remarks about how the only time you’ll ever find success before work is in the dictionary. The plain, simple truth of the matter is that Vaynerchuk’s success boils down largely to the fact that he’s just a hard-working dude with a lot of grit. Point blank. We just so happen to think that his $160 million net worth is proof of this enough.

    What’s your favorite Gary Vee quote?

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