Even if you’re an avid consumer of podcasts yourself, you might be wondering how and if they would work for a financial advice firm.
The answer to whether they work or not is, of course, yes.
Podcasts are able to cut through to young and old, across different socio-economic brackets, and can be very niche. They’re probably the single best out of-the-box long-term opportunity for advisers to market themselves, which is a big claim. But here’s why:
Audience versus traffic
When it comes to marketing, a lot of what I talk about to people these days is the difference between building an audience and getting traffic or ‘impressions’.
An audience is people who know, respect and trust you, in short, people who see you as an authority. This is very different from people who just clicked on your add or stumbled across your website.
In building an audience you find a group of people who want to hear from you. As such your marketing content isn’t a distraction or an unwanted intrusion, it’s something that’s valuable to them; or even better, something they actively seek out and recommend to others…
But what has this got to do with podcasts?
Podcasts are a fantastic way to cultivate an audience. The very nature of the medium is long form, detailed and personal; it’s exactly the sort of media that allows you to win trust and build relationships at scale with your audience.
They’re also ideal for busy professional people because they can listen to a podcast while doing other things such as going for a run, bathing the dog or travelling (remember that?!).
It’s also a good medium for advisers, because many of you will be used to talking about what you do with clients and professional connections. While appearing in front of a camera, a livestream or webinar may be a bit more daunting, talking into a microphone or having a conversation with a guest is often not.
But it’s not just that podcasts are the kind of content that you can get people hooked and keep them coming back, it’s also a great way to find your audience to begin with.
Finding your audience
A lot of you have heard of search engine optimisation or SEO and I’ve talked previously about the importance of video for search (that YouTube is the second most powerful search engine in the world etc). What’s also key here is that iTunes Podcasts is the first is the third most powerful search engine in the world. And it’s an awful lot less competitive.
Podcasts therefore are a great way to be found by a new audience and draw them into your world.
So let’s make this real. How would this actually work in practice?
Well, the first thing you should think about is appearing on existing podcasts as a guest. This will also help you to get a feel for the medium.
Begin by asking yourself: what sort of things would my ideal clients listen to? This is easier to answer if you have a clear niche.
Let’s say your ideal audience is junior doctors for example, then what sort of podcasts would they listen to? (As a side note, you will be amazed at how niche some very successful podcasts are!) If there’s a podcast that talks about the daily life of junior doctors, then they will almost certainly benefit from having on a guest who can give advice and pragmatic thoughts but how they can manage their finances.
Do this by sending an email to the organiser explaining why what you have to say is relevant and useful to their podcast audience. Set a date, buy a microphone and a decent pair of headphones, and you’re ready to rock and roll (see my section at the bottom of that equipment for more on this).
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