The pandemic has changed the way consumers consume content all over the globe. In the UK, restrictions have led to shutting down cinemas during the lockdown, with significant releases being delayed to a later date. In the US, on the other hand, traditional media channels such as newspapers and magazines were on the decline, and the pandemic has accelerated this further. According to the International Media Consumption report, 2021 by YouGov, radio and podcasts now come second after video and television content in terms of popularity. B2B brands who want to educate and establish themselves as experts can use the power of podcasts to educate, engage and reach a newer target audience. Let’s look at some statistics on the use and effectiveness of podcasts worldwide so you can make an informed decision on whether it would benefit your brand.
Podcast consumption is on the rise worldwide.
According to the International Media Consumption report 2021, podcast consumption is on the rise worldwide. In the US, the average yearly podcast audience grew from 39% in 2019 to 43% in 2020. In the UK, podcast listener numbers also saw a significant increase, rising from 27% in 2019 to 33% in 2020. Similar trends have been noticed across various countries around the globe and the demand for podcasts is expected to continue rising.
Do your Business Goals and Podcasts align?
With audiences growing worldwide, a podcast can be a powerful medium for B2B brands who want to position their company as an industry innovator and thought leader. Depending on which sector your company is in, a podcast might be the right way to go. Many tech companies believe that having a podcast is as important for them today as having a website. But on the other hand, many marketers feel that the effort is not worth the benefits.
Producing a podcast requires a major investment of time, effort and company resources. Delivering content that consistently creates value for the listener requires hours of planning, production and post-production. While some marketers feel that the investment is not worth the effort, having a podcast can help companies build a solid brand name in the industry.
If you’re considering starting a podcast, you need to take some time to understand whether your business goals align with a podcast. Next, you should also think of how your podcast will add value to your target audience and check what competition there is in the field. After carefully considering all these aspects, you should be in a better position to decide whether starting a podcast is the right fit for your B2B business.
Benefits of Starting a Podcast
Starting a podcast might not result in direct selling or lead generation, but there are still various benefits for B2B businesses. Let’s look at the benefits below:
Gain Brand Visibility
Podcasts are a great medium for brands that want to gain visibility and establish themselves in the industry. Through podcasts, businesses can share their expertise and build trust by sharing their knowledge. Using the podcast to collaborate with various distinguished individuals in their sector can help them gain valuable brand visibility.
Gain Credibility in their Niche
Putting out consistent content that creates value for the target audience and teaches them new things in an entertaining manner can definitely help a brand build credibility in their niche. Podcasts are a great way for brands to build an audience of people who think like their ideal customer. They can be good tools for creating a following that cares about your brand.
Ash Read, editorial director at Buffer, produced a documentary-style limited-series podcast called Breaking Brand for his company. The podcast follows the direct-to-consumer branding agency, Gin Lane, as it starts a DTC business of its own.
Start Conversations and Lead the Industry Forward
Using the podcast to discuss the various industry-related developments and hold discussions with a variety of industry leaders can help establish the brand as a leading voice in the industry. This can add value for brands who are looking to establish themselves as experts in their field and gain a loyal following that looks to the brand for their views and opinions for all industry-related developments. The podcast will position the company more effectively in the minds of prospective customers in the long run.
Create Reusable Content
Brands that create podcast content can use clips and takeaways from the podcast to create content for all other platforms. The podcast can be spun into posts and campaigns for social media, blog posts, YouTube videos and a lot more. This can be beneficial to reach more audiences and add value to followers across mediums.