EP88: The Podcast Checkup Show
What is the status of podcasting in terms of growth and popularity?
How can podcasting benefit your small business and brand in today’s rapidly changing technology world?
Breakdown of Episode 88:
Brief history of podcasting
Findings from annual reports on podcasting by Edison Research and Bridge Findings.
My perspective on the future of podcasting and Benefits of podcasting for your small business or brand whether you are a brick and mortar business or online business.
Origin of Podcasting
Portmanteau (/ˌpôrtˈmantō/): is a blend of multiple words or their (sounds) are combined into a new word.
Examples of Portmanteu:
Motorists and hotel =motel
Smoke and fog=smog
Emotion and icons=emoticon
Spoon & Fork=spork
Turkey, Duck & Chicken=Turducken.
Apple iPod + Broadcast = Podcast (coined by BBC journalist by Ben Hammersley in 2004)
Definition of Podcast: a digital audio file made available on the Internet for downloading to a computer or mobile device and new installments can be received by subscribers automatically using Real Simple Syndication or RSS feeds.
Podcasts started in the early 2000’s
Podcasts caught on in 2005 when Apple added podcasting to iTunes.
What is the difference between Podcasting vs. Traditional Radio:
Podcasts are often called Internet or Web Radio.
Broadcast or Traditional AM/FM radio is referred to as “terrestrial radio”
1. One significant difference between podcasts and terrestrial radio is podcasting is on-demand meaning podcast listeners can choose when and what they listen to. Plus, RSS feeds enables podcast listeners to subscribe to podcasts so they get notified when new episodes are released.
2. Another big difference is podcasts cover a wide range of topics and niches and radio must appeal to a broad audience.
Released in Spring of 2017, two market research reports were published about podcasting:
Edison Research and Bridge Ratings.
2017 Bridge Ratings Report (Report 1):
3 problem areas of podcasting that need to be solved in order for podcasting to succeed and those are:
Ease of Use- it has to be really easy for listeners to pull up podcasts on any device. Agreed.
Search- Discovering content needs to be effective.
Better metrics for revenue generation. Meaning, the only way podcasts will survive is if the creators and sponsors can make money.
Technology to help Podcasting:
The Consumer Electronic Show (CES) in Las Vegas showcased a lot of tech that solved all three of these podcast needs and voice-activated tech like Amazon Alexa and Google Home along with Bluetooth will give podcasting a good bump.
In August of 2016:
–64% of people surveyed said they had no interest in podcasts.
–25% of people said they had ever listened to a podcast
In February 2017:
-Only 48% of people surveyed said they had no interest in podcasts.
-Jump to 45% of people saying they have listened to a podcast
The Bridge Ratings Report findings for why people do not like podcasts:
1. They don’t know how to find them or what to do with them
2. They don’t have the time or patience to listen to podcasts
3. They were too boring, long or too much rambling.
The reasons people liked podcasting:
1. They can find a podcast about any niche
2. You can listen while doing other things like exercising
3. They’re free
4. They can be educational
5. Meet other people with similar interests.
2017 Edison Research (Report 2):
Monthly listeners are growing from 21% to 24%
Age range of podcasters predominately 18–54 with slightly more men
Podcast listeners tend to be educated and more affluent
People listen to podcasts mostly at home with vehicles closing in at a close second.
Podcasts are the most popular type of audio content listened to (over music)
What is my perspective on podcasting?
Podcasting will thrive because of mobile devices and ease of access using voice-activated technologies (Alexa) and integration of podcasting in car stereos.
I think reading books is going to decline and podcasts will fill the educational and entertainment void for the busy worker bees.
Why Start a Podcast?:
1. Reach Spread your brand reach to a larger audience.
2. Community. Build a bigger and stronger community of loyal fans and clients.
3. Establish Authority. Podcasting about your thing or your business or your passion automatically gives you and your business social proof and helps you establish yourself as a leader and expert in your industry or topic area.
4. Self-Development & Growth. Podcasting will help you grow as an individual and brand. A better you is a better brand or business.
5. Revenue & Opportunities. Podcasts can lead to business opportunities, more clients or customers and if your audience grows or you have a specialty niche or strong local presence, you could make some money from sponsors.
Questions, Comments, Feedback?
Complete Show Notes:
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Music: Life of Riley & Wallpaper (incompetech.com)
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