As podcasts continue to grow in popularity, Faith Liversedge recommends that advice businesses give it a go! With listeners being able to tune in on the go, connecting with your target audience has never been easier.
Who’s started a podcast this year? It might be easier to ask who hasn’t.
But lockdown has been the perfect breeding ground for this burgeoning new media.
Accessed while washing the car, the dog or kids, podcasts can be so easily slotted into lockdown life (and are so much easier than picking up a book!)
And the beauty is your dog will never know that you’re inside a prison / round a celebrity dinner table / chatting to Peter Crouch. You can multitask without guilt.
Podcasting for your business
Although podcasts have been around since 2004, the last few years have seen a continued increase in listenership. Apparently, we now listen to almost 60m hours of podcasts per week, which is over twice what we did two years ago and seventeen times what we did in 2015.
There are currently over 2,000,000 different podcasts and over 48 million episodes as of April 2021.
This might well put people off starting one of their own, but the great thing about podcasts from our point of view is that no matter who or what your interests are, there’s a podcast for everyone.
That means there’s a hungry audience out there for your tuppence worth. More bluntly, it means that no matter what you’re talking about, there will be someone, somewhere who will be interested.
And this gives you a huge opportunity to cut through the noise and access the people who are right for your business.
And once you have your listeners, podcasts are exactly the sort of media that allow you to win trust and build relationships at scale with your audience.
So how does it work?
Everything needs to revolve around your ideal client and what they would tune into.
The former might be something along the lines of how do I ensure financial security if I set up a ‘side hustle’? Or the latter, ‘How do I have to declare selling my wine store as a capital gain’? I joke, I joke. As ever, it’s good to keep a note of the most frequently asked questions you get on a day-to-day basis and base your content on this.
And the content doesn’t always have to be purely financial. Your podcast should speak to the things that really matter to people: almost always there’ll be a link to wealth, but if it chimes with another universal theme, such as health and wellbeing for example, then even better.
And if you have enough of hearing your own voice, bring on guests, perhaps members of your team, other advisers, or outside experts.
A word of caution
Launching a podcast isn’t easy. It takes time and a lot of consistency.
You should aim to upload at a minimum one episode a month, but, ideally bi-weekly or weekly, and stick to this come what may.
It will take some time to build up an audience and you need to do everything you can – from pulling favours to sending out emails to existing clients or using introducers – as well as the marketing tactics I’ve previously written about in this series to really give it a first push.
But, stick with it, create great episodes, and it will be one of the best investments you’ll make.
Remember, you don’t need 5,000 monthly listeners or to drive 50,000 visits a month to your website. What you need is 500 people in your niche who regularly listen to your podcast, talk about you, recommend you and create a buzz around you – if you can do that it will pay off in the long run.
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 what are you waiting for?
Get yourself a decent USB microphone, a good pair of headphones and an app for recording, like Zencastr and go for it. You won’t regret it.
About Faith Liversedge
Faith Liversedge is an experienced communicator with a wealth of knowledge and understanding of the adviser profession. She was Marketing Manager at Nucleus for 5 years, creating innovative and award-winning campaigns. Before that she worked for Standard Life, Prudential and Royal London. In 2017 she set up her own consultancy to help forward-thinking financial advisers and planners to become more profitable through websites, communications and other laser-focused marketing techniques.