piggy bank with headphones on to represent the business benefits of podcasting
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How to Reap the Business Benefits of Podcasting

The best way to win new customers isn’t by creating more lead magnets. It’s done by getting in front of your ideal customers as early as possible. By the time B2B buyers fill out a form on your website, they’re already well into the buying process and have practically finalized their buying decision.

 

You’ll win more customers by providing opportunities to experience your brand early and often. Give them ways to feel like they actually know your company. If they know you, like you, and trust you, they’ll buy from you. 

 

(Also check out this podcast on the topic!)

 

And the medium that tackles know, like, and trust all in one fell swoop? Podcasts!

 

Podcasts are in. Like, real in. They’re hip, they’re informative, they’re bitesized, and they’re convenient. You can listen to them anywhere — even in the shower. 

 

But you know this already, because you have your own favorite podcast shows and you listen to them in the shower. (It’s okay, you’re not the only one.)

 

You may have even fantasized about having your own podcast show — for business purposes, of course. Because a podcast would be good for business, right? Good question.

 

Is Branded Podcasting Good for Growing a B2B Brand?

Branded podcasting is a podcast that is hosted by a business in order to grow the business. The business advantages to branded podcasting seem obvious: 

 

  • It’s another way to get your company’s name out there
  • They’re probably good for SEO, right?
  • They probably don’t cost a lot
  • Podcasts are so popular that people listen to in the shower
  • They seem like fun — for you, and for your audience

And if your competitors aren’t podcasting, you can claim a competitive advantage by establishing an audience they don’t have.

 

Also, if your competitors ARE podcasting, you’d better hop on the bandwagon, right? 

 

Okay, we’ve just listed a bunch of assumptions without any actual data to back them up. So maybe it’s a good idea to look at the raw data on the business advantages that a podcast could actually provide to your company.

 

I’ll tip my hat right out of the gate: podcasting can provide significant business advantages to B2B companies. However, that doesn’t mean your company should start a podcast — at least, not now. And possibly not ever. 

 

BUT that doesn’t mean you can’t take advantage of podcasting, either. So let’s dive into the truth about podcasting for business and whether or not it makes sense for your company.

 

The Benefits of Podcasting for a B2B Business

As a whole, podcasting provides terrific business advantages, and trends indicate that they aren’t slowing down. Let’s take a look at some key numbers.

 

I could go on with exciting stats about the power of podcasts for brand building, but you get the picture. Podcasting offers bountiful business benefits for your B2B company.

 

The Downsides of Branded Podcasting

So it’s a no-brainer, right? Your company should definitely start podcasting! Except that many others have jumped into branded podcasting without counting the cost, and have regretted it. For example…

 

  • With more than 5 million podcasts out there, it’s dang hard work to get discovered.
  • On average it takes two years and 100 episodes before podcasters see results, 
  • Most branded podcasters quit before reaching episode 10.
  • 91% of podcasters say audience growth is their biggest hurdle and 82% say that getting discovered by new listeners is a major obstacle.

If you’re going to be successful with your B2B podcast, you can’t just show up once a week and start talking with a guest. Podcasting is a huge commitment, and it takes a lot of resources. You need to:

 

  • Create a budget for podcasting. Podcast startup costs can range from $150 to $7,000. And there are ongoing costs beyond that.
  • Plan your topics months ahead — and make sure they align with your business goals and podcast strategy.
  • Purchase quality recording equipment, or rent studio time.
  • Find, vet, and secure guests. Ideal guests, not just any guest. I can’t hyperbolize the importance of a quality guest.
  • Research every topic ahead of time.
  • Edit your audio so you sound like the world-class professional you are.
  • Promote every single episode you produce — across multiple channels.
  • Do it all without dropping any of your other responsibilities.

Does podcasting still sound like fun?

 

Actually, I think it’s a ton of fun, even with all that effort. And it can be incredibly rewarding for your business. But doing a podcast isn’t for everybody, and it might not be right for your company. If you don’t know what you’re getting into, your podcast will fail and you’ll be frustrated with another marketing tactic that “doesn’t work.”

 

If your business doesn’t have the time, resources, or budget to do a podcast right, then don’t do it at all. Your audience won’t stick around for a podcast that doesn’t sound good, doesn’t follow a consistent release schedule, and doesn’t offer interesting and valuable content.

 

That said, I still think your B2B company can take advantage of podcast opportunities. If you aren’t ready for the commitment of hosting your own show, you can hop on other podcasts as a guest. 

 

So how do you decide if hosting or guest podcasting is the right choice for your B2B company?

Hosting or Guest Podcasting?

Hosting a podcast could be a really great move, if you’re prepared for the time, effort, and expense it takes to run a successful podcast. 

 

In contrast, guest podcasting has a low barrier to entry, costs basically nothing, and requires very little time to do.

 

Generally speaking, guest podcasting is best if you’re budget-conscious, resource limited, and need to increase your audience quickly. It’s often a great option for startups and small businesses.

 

On the other hand, hosting a podcast may be the right move if you have the resources and have a vision for carving a unique space in the podcasting universe that fills an empty void in the industry.

 

Often, I recommend that most brands gain some podcasting experience by getting booked on other shows, then launch their own podcast after they’ve gained some familiarity with the format. 

 

Let’s take a look at the specific benefits your business could see from guest podcasting.

 

Business Benefits of Guest Podcasting

The most obvious benefit of guest podcasting (versus hosting a podcast) is that you can pretty much just show up to a show and talk about your area of expertise. You instantly boost your street cred as a thought leader and solution provider, and you also immediately amplify your audience reach.

 

Hopping on someone else’s podcast means you’re also hopping onto their audience. It’s just like speaking at conferences — but much less expensive and time consuming. And there’s no TSA.

 

As I mentioned earlier, a single podcast listener is 100 times as valuable as a social media engagement. And all of those stats at the top of this article apply to guest podcasting as well. 

 

Also consider this: every time you appear on another podcast, you’re multiplying your audience reach (and your credibility) that much more. Just think about the instant benefits of guest podcasting versus gradually building your audience over two years. 

 

Tons of ROI for comparatively very little effort.

 

But…

 

The Challenges of Guest Podcasting

Of course, there had to be a but.

 

But, guest podcasting doesn’t come without its challenges, so you need to know what bridge you’re jumping off of before you dip your toe in the deep end of the pool. Or…you know.

 

It’s possible to waste your time if you’re getting on the wrong podcasts, or if you don’t think strategically about maximizing your ROI. Just because you’re on a podcast doesn’t mean the audience will take action.  

 

Getting the Most ROI Out of Guest Podcasting

Make sure you can maximize the ROI of guest appearances on podcast shows. Here are some questions you need to ask yourself BEFORE you start your guest podcasting venture.

 

What are your goals?

The success and satisfaction that you get from guest podcasting depends on this question. If you don’t know what you want to accomplish, you’ll probably end up tired and frustrated by too many swings and misses. 

 

If your goals drive every podcasting decision you make, you’ll only settle for the best podcasts that have the best audience fit, with the best opportunities to get the best ROI and drive the best business growth. All while getting the best enjoyment out of it all.

 

Who is your ideal audience?

You may have noticed that I didn’t ask about the right podcast. That’s because you can’t identify the right podcast to meet your goals until you know what podcasts have the right audience. And so, who is your audience?

 

Get as specific as you can. If you have buyer personas from your marketing department, chances are at least one of them is your ideal audience. If not, it’s time for your marketing team to do some more persona work.

 

If you don’t have buyer personas, get some cranked out. This is the absolute most important part of a successful marketing strategy (after your business goals).

 

In any case, identify the persona(s) that you need to get in front of in order to hit your podcast goals.

 

What types of podcasts does your ideal audience listen to?

Now we’re starting to hone in on things. If you’re a cybersecurity consulting firm that’s targeting CISOs, it’s probably a good bet that they’re listening to podcasts about cybersecurity and podcasts for CISOs. 

 

That’s a good start, but what else are they listening to? Here’s a few ideas:

  • Tech shows
  • Leadership podcasts
  • AI podcasts
  • Compliance shows
  • IT podcasts

They might also subscribe to D&D, true crime, and PokemonGo podcasts, but those aren’t relevant to your business. Which brings us to…

 

What podcasts within those topics make sense for you?

Now we’re getting to the nitty gritty stuff. And to answer this question, you actually have to answer a bunch of questions that will filter out the non-ideal shows and drill down on the ones you want. Ask yourself: What are all the shows out there within the topic clusters we identified above?

 

Then, for each podcast you identify within those topic clusters, start filtering out the bad shows:

 

  • Would this show be a good fit for the topics we want to talk about?
  • Is this podcast still active (only about 15% of podcasts that are listened to on Apple Podcasts are still producing new episodes)?
  • Do the hosts interview guests?

At this point, you should have a good list of podcast shows to solicit for guest appearances. All you have to do now is get booked on them!

 

How do you get booked on a B2B podcast?

This is an entire blog article in itself! At a high level, you want to create a pitch script that you can email to the show host. Introduce yourself, share what you appreciate about their show and mention an episode that you found particularly interesting (this shows that you aren’t just spamming every podcast out there and you’re actually being thoughtful about your solicitations).

 

Next, state why you would make a great guest on their show. Include a very brief professional background that’s relevant to the host, and share some topics that you could speak about. If you’ve been a guest on other podcasts, include links to those episodes as well.

 

Attach a one-pager about yourself that goes into a little more detail and has contact information.

 

Follow up a couple times, if necessary, but don’t be annoying about it.

 

If you’ve never been on a podcast before, or only on a couple of small shows, I recommend starting with newer podcasts or podcasts with a smaller audience. These shows will be eager to find guests as they establish themselves, and they can be some quick wins to help you establish more credibility as you pitch more podcasts.

 

How do we get the most ROI from our guest podcast appearances?

You don’t want to just get booked on a podcast. You want to boost your ROI on it. Just because someone published an interview with you, that doesn’t mean ideal customers are going to start flocking to your website and filling out sales forms.

 

The podcast host will do some promotion of your episode, but you shouldn’t leave it in their hands. After all, they’re promoting their podcast, not your business. So have a plan to boost your signal once the episode is live.

 

Some ideas:

  • Keep the episode top-of-mind by creating several social media posts — like, a good dozen of them — to promote your podcast appearance for months to come.
  • Create a special offer for podcast listeners, and mention it at the end of the interview. Give the host a URL to include in the show notes, so listeners can sign up for the deal.
  • Provide a lead magnet that’s relevant to your topic. Mention it during the interview and ask the host to include a link in the show notes.
  • After the interview, before you end the call, see if there’s an opportunity to have a referral partnership. Or you might do this during the initial exploratory call.

 

Measuring Your Podcasting Success

Podcast analytics are notoriously difficult to measure — especially as a guest. But there are a few things you can do to get some sense of success. 

 

  • Create a UTM code for any link you provide to the podcast host. Do the same for the social media posts you create. Every click on those links will be attributed to the podcast.
  • Monitor comments, mentions, and post engagement on social media.
  • Watch your website traffic on the days that your posts go live, and for a few days afterwards.
  • Ask the podcast host to share their audience stats related to your episode.
  • Use Google Alerts to track how your brand is being mentioned in relation to your guest appearance.

Remember that even with guest podcasting, your ROI increases over time. This is a marathon, not a sprint — and while you want to see some immediate results, the biggest benefits happen over time.

 

Get Started with Guest Podcasting!

Podcasting can provide tremendous business benefits, and you don’t need to host your own show to enjoy them. In fact, you’ll get more ROI right away from guest podcasting. Follow the process I’ve outlined in this article and you’ll be a seasoned pro before you know it.

 

Need some help getting up and running with guest podcasting? No problem! I’ve helped clients get booked on shows and I can help you too. Grab a time to talk and see how Good Gnus can help.