If you are a content creator (YouTuber, blogger, course creator, social media poster), starting a podcast should be your next project.
My top reasons for starting a podcast in 2018:
- Podcasts are more popular than ever
- Podcasts are easy to consume
- Connect with your audience on a deeper level
- It’s easier and cheaper than ever to start
- Make money with your podcast
- Create Raving Fans
1. Podcasts are More Popular Than Ever
In 2017, over 112 million Americans had listened to a podcast.
67 million Americans listen to podcasts monthly, up 14% from 2016.
42 million Americans listen to podcasts weekly.
That’s a lot of people.
If you’re not creating a podcast now, you’re missing out on providing content to your target audience. No matter what your business, there are people looking for that kind of content on iTunes, Stitcher, Google Play, and Spotify.
2. Podcasts are Easy to Consume
Now that most people have a mini-computer in their pocket, people can listen to podcasts anywhere.
With smart cars becoming the norm, podcasts can be streamed while driving.
One of the reasons I personally love listening to podcasts is that it’s something I can do while doing other things. I can exercise. I can cook. I can clean. I can even work, while listening to my favorite podcasts.
Unlike video-content, which is still my favorite form of content, podcasts can be consumed more easily.
3. Connect with Your Audience on a Deeper Lever
85% of podcast listeners listen to the entire show. That’s incredible.
Compared to video engagement and blog bounce rates, people commit to their favorite podcasts. This allows you as a podcast creator to educate, entertain, inform, and inspire on a deeper level.
Because people are committed to listening to you for 30, 45, 60+ minutes, you can spend more time connecting with your audience.
Think about how hard that would be to do that with a single blog article or YouTube video.
4. It’s Easier and Cheaper than Ever to Start
You can start a podcast with a computer and an inexpensive USB microphone like the Audio-Technica ATR 2100. Using free software like Audacity, you can record and edit software professionally.
Hosting your podcast online is relatively cheap with a service like Libsyn or Buzzsprout. Submitting to iTunes, Stitcher, Google Play, and Spotify can be done with a few clicks.
You don’t need a radio voice to get started!
When I started my podcast (The Online Course Masters Show), I was afraid that I didn’t have the right voicefor a podcast. Hearing from my listeners and reading reviews makes me realize that it doesn’t matter what your voice sounds like.
As long as people can clearly hear you, people will enjoy your podcast!
5. Make Money with Your Podcast
The four main ways to make money from your podcast are:
- advertising & sponsorship
- affiliate marketing
- selling your own products
- donations
CPMs (or cost per mille… or cost per 1,000 listens) is higher for podcasts than web ads and YouTube videos. The typical rate is between $20 – $45 per ad for every 1,000 listens.
For a weekly show with an intro, midroll, and outro ad, that’s ~ $2,400 for a show with 10,000 episode listens.
For a daily show, that’s over $12,000!
I think promoting your own products or services is an even better option. You can create something that truly helps your audience, making it more irresistible. Plus, you control how often you promote.
Even with a small audience, you can make decent side-income or even full time income with your podcast!
6. Create Raving Fans
For me, there’s something special about listening to someone on a podcast. You’re truly connecting with their thoughts. You spend a lot of time with that person.
The messages I get from my podcast listeners are more special than any other reviews I get. People seem to truly enjoy listening to my podcast.
Even when I doubt myself, and think ‘oh, this is just the same kind of thing over and over…’ people reach out to me and tell me they’ve listened to all 50+ episodes and can’t wait for more.
These are your raving fans.
These are the people who like, know, and trust you… who will spread the word about your podcast, and be ambassadors for your brand.
You can create raving fans with other types of content, but for me it’s been easier with my podcast.
In Conclusion
These are just 6 of my favorite reasons for why you should start a podcast in 2018.
Now is the time to take action.
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