Content Strategy: Is a Podcast a Good Idea?

Content strategy is a big component of the work I do with clients, and many of them often want to chat about including podcasting as part of their strategy. While podcasting can seem like a no-brainer, it’s actually not always a worthy investment in terms of time, money, and resources.

Similar to the works of art that Jackson Pollack, Pablo Picasso, or Mark Rothko produced, podcasting always seems easier to do in theory than in practice. After all, if either painting or podcasting were easy, everyone would do it and there'd be little value in either.

So, if you are wondering if a podcast is a good idea for your marketing strategy this year, here are a few things to consider before you dive in head first:

Podcasting is a Crowded Field

The podcasting space is highly competitive, with literally millions of podcasts available for listening audiences worldwide. When you have this many active podcasts it is incredibly difficult to stand out and attract a substantial audience, regardless of your field.

The average podcast has about 30 listens per episode, but this number can vary widely based on the podcast’s niche, promotion efforts, and overall quality. There are tons of people that have started podcasts that are now inactive, so it’s really necessary you’re excited about having your own and ready to fully commit.

When considering using podcasting as part of your marketing strategy, evaluate whether or not it makes sense to your specific brand, and what it is you’re trying to sell. More importantly, consider what it is you're trying to say. Weigh whether or not a podcast would benefit your brand, and if it’s something you WANT to do, rather than something you’re doing to keep up with the joneses. 

Podcasting Requires Time and Money

There are so many moving pieces to consider if you decide to start a podcast. If you're going to do it, you better do it well, especially with so much competition.

Before deciding whether or not to launch a podcast, first consider the cost of production, the recording equipment, and editing software (or hiring a proper producer or editor), all of which are associated with maintaining a decent podcast. The average podcast can cost up to $5000 to produce, not to mention the time you’d need to dedicate to creating a good product. From planning out each episode, finding potential guests and scheduling time to record with them, editing each episode for sound quality and time, and then actually promoting each episode--producing a podcast is not for the faint of heart.

It's worth noting that the quality of your podcast depends on how much attention and energy you are willing to give it, so if you're wondering if a podcast is a good idea, first ask yourself how important it is to you and your brand before biting off more than you can chew. 

Growing a Podcast Audience Takes Time and Persistence 

Your audience is a crucial component that has to be considered whenever you craft any content as a brand. As with any organic marketing strategy, growing a loyal audience for a podcast can take time because it involves building trust, engagement, and consistency with listeners. If you're looking for a quick win or a way to broaden your audience, podcasting might not be the best use of your energy and talents.

Unlike viral social media content, podcasts rely on developing a loyal fan base that tunes in regularly. This requires delivering high-quality, valuable content over time, which helps establish credibility and connection. Audience growth is often gradual, driven by word-of-mouth, reviews, and social sharing, so patience is a must (unless you already have a big engaged audience or are a celebrity). With so many podcasts available, it’s crucial to stand out by maintaining a consistent release schedule and continuously refining the show based on listener feedback.

It's also worth noting that it can be challenging to gauge the success of a podcast accurately. Metrics like downloads and listens may not always fully capture engagement, and in turn, the benefit it is or isn’t having for your business may not be immediately clear.

So, Is a Podcast A Good Idea?

A podcast can be an excellent tool for marketing your business, but whether it’s the right fit really depends on your time commitment, audience needs, and overall business goals.

On the one hand, podcasts allow you to share your expertise, build authority as a subject matter expert, and create a personal connection with listeners. By offering valuable content, insights, and storytelling, you can foster trust and engagement, which can ultimately lead to customer loyalty and brand awareness. If done well, a podcast can effectively boost your brand’s visibility and reputation.

On the other hand, they require consistent effort, time, and high-quality production, so it's essential to commit to putting the time, money, and resources into doing it right if you're going to pursue a podcast. Otherwise, you'll have wasted all of those things on an endeavor that will yield little to no results in terms of moving the marketing needle for your business.