Two weeks ago I kicked off a discussion on questions to consider before starting a podcast. If you missed it, you can access it here.
This week we will continue this discussion by tackling four additional questions to answer when evaluating whether your startup should start a podcast.
1. Is your goal to build relationships, create inbound leads, or get downloads
If your goal is to build relationships and create inbound leads, then a podcast could be right for your business. Podcasts do this best for businesses and startups. Unfortunately, we often hear metrics on the number of downloads certain podcasts receive and think this must be the goal.
Downloads don't really measure anything of value. Most podcasts created by businesses have a narrow focus, which means even thousands of downloads per episode are way out of reach. You are not going for mass appeal like Joe Rogan or Tim Ferriss. Instead, you are reaching people who want to learn about your niche and hear your opinions and expertise (and hopefully buy your services).
If you use a podcast as a content cornerstone for your business, you will build loyal listeners and fans who trust you, which is way more valuable than downloads.
2. Do you have the name of someone who will host it (it can be you)?
You can have the right vision for the show, the resources to produce the show, and even the approval to make it happen. Yet, it's all for naught without a host. Someone must be on the recording, because if not, you don't have a podcast. The good news is you have flexibility on who the host (or primary voice) will be.
It is not necessary for the CEO to the be the host. The most important skill with being a host is being able to speak clearly in an engaging way. This is true for solo episodes or interview episodes. The ability to listen and ask questions are additional skills for the host of an interview show. These skills can be learned.
3. Does this person have the time and willingness to host it (it can be you)?
This is where it can get sticky. Not everyone has the time to devote to hosting a podcast. There are ways to reduce the time involved or to schedule their recording in blocks to be more efficient with the time requirement for those who want to be a host. Ideally, recording episodes a few weeks ahead of time will allow for the needed schedule flexibility.
Another facet to consider is the willingness of a person to be the host. It is a commitment of time and a commitment to learning the craft. Your tenth episode will be better than your first and your 50th episode will be better than your tenth. Repetition matters, so if the host is not willing to learn and improve, it's best to find a different host. 😁 It will save your company time and money in the long-run.
Plus, you can outsource the hosting of your podcast (feel free to ask me about this option).
4. Do you and/or the other key decision-makers understand it is a long-term sales and marketing play?
Misunderstand this point and you will give up long before you see the benefits. Podcasts do not provide instant "virality". In fact, it's quite the opposite.
Podcasts provide long-term SEO value. They generate content which people will listen to for years to come. You can repurpose podcast content 27 different ways on every social channel, for your website, and in your emails. You can reuse this content. Again, tons of long-term value. In the short-term, it will seem slow.
It takes a while for people to learn about your show, listen to your show, and then trust your show. The relationships you build through interviews and cross-promotion provide value, though this does not always translate into immediate sales or revenue.
How did you answer this week's questions? Don't forget to go back and check out last week's questions too. If you have mostly nos and maybes, this gives you four additional questions to consider. You can make a plan and determine how you can get them to yesses. If you were all or nearly all yesses, a podcast might be worth further investigation.
My goal is not to discourage you, but to prepare you for success and set expectations.
If haven't subscribed yet, be one of the first to receive this newsletter each Tuesday afternoon, sign up at https://podcastprep.xyz/.
P.S. Tired of feeling anxious and unprepared when you guest on a podcast? I can help you become the savvy and confident guest for your next appearance. Email me or DM me to find out more.
Till next time!