Nine out of ten new podcasters quit after only seven episodes... so to say there aren't cons to starting yours is misleading.
Podcasting has surged in popularity, becoming a vibrant medium with a broad and engaged audience. One of the key benefits of starting a podcast is tapping into this growing market, where between 25% to 33% of people are regular listeners, engaging with content on a daily basis. Podcasts have a particular appeal to millennials, the largest listener age demographic, followed closely by Gen X and Gen Z. This popularity extends to a diverse range of topics and interests, making podcasts a versatile platform for reaching various audiences. Moreover, podcast listeners are often more affluent and better educated than the average population, making them a highly coveted audience for content creators and advertisers. This demographic alignment presents a unique opportunity for creators to connect with an audience that is not only large but also influential and capable of driving trends.
However, the journey into podcasting isn't without its challenges. One significant downside is the underestimated amount of work involved in producing a quality podcast. From planning and recording to editing and promoting, each step requires time and effort, which is why nearly 90% of new podcasters eventually quit. Additionally, while podcasts are excellent for building brand awareness and engagement, they are not typically direct sales tools. Instead, they are more effective in the middle of the sales funnel, nurturing audience interest and desire for a brand or product. This aspect often leads to a mismatch between the expectations of new podcasters and the reality of the medium's role in a marketing strategy.
So, should you start a podcast? The answer depends on your goals and commitment level. If you're looking to directly boost sales, a podcast might not be the most effective tool. However, for those aiming to build a community, establish thought leadership, or engage with an educated and affluent audience, podcasting can be a powerful platform. It's essential to enter the podcasting world with clear objectives and realistic expectations about the work involved and the role your podcast will play in your broader marketing or communication strategy. Our video series delves deeper into who can benefit most from podcasting, helping you make an informed decision about whether this popular medium aligns with your personal or business goals.
