What is a podcast? Anyone might ask this question, thanks to the fact that we nowadays stumble across them all the time. Every decent company or organisation has started one, or is at least flirting with the idea. In today's post, we'll a look at what a podcast is, what benefits it can bring to your business and what to look out for if you want to ensure success.
What is a podcast?
The name podcast comes from Apple, a combination of iPod and broadcast. A podcast is in fact a digital audio material, typically without video, that deals with a clearly defined topic.
The genre is not a single episode, but a series of episodes that either cover the same topic from different angles or each episode covers a new area. Once a new episode is uploaded to the internet, it is published via RSS technology on various podcasting sites such as Spotify or Apple Podcasts.
Their length varies widely, depending mostly on the maker and the subject. In general, podcasts vary in length from 30 to 40 minutes.
The audio material is therefore published on the internet and can be listened to and downloaded anywhere and at any time, although in the latter case you do not need to be online, i.e. you do not need an internet connection to listen to the episodes.
Podcasts are published as a series. By subscribing, listeners will be notified when new episodes are uploaded and available, ensuring they don't miss out on what's new. This is similar to YouTube, where new material uploaded to the channel is sent to followers via push notifications after subscription.
The point of podcasts is that the opportunity for entertainment and meaningful entertainment is in your pocket wherever you go. Most of us take advantage of this mobility and start an episode while travelling, driving, doing the housework or even waiting.
Podcast in numbers
According to Edison Research and Triton Digital 2021, 78% of the US population knows what a podcast is, and 57% have listened to at least one. The latter number has been climbing year on year, up from 44% in 2018.
The genre is particularly popular among 12-34 year olds, with one in two of them choosing to listen to podcasts at least once a month. However, it is important to note that older people are also catching up in this area, with the proportion of regular podcast listeners aged 55+ increased by 18% in just one year.
Unfortunately, we do not have such comprehensive data on podcasts in Hungary. However, it is clear from the feedback from podcast creators that the popularity of podcasts is growing and that more and more people are getting the "podcast fever". A well-established, well-known podcast can reach tens of thousands of listeners.
A 2018 survey by podkaszt.hu attempted to describe what a Hungarian podcast listener is like. To do this, they created a poll that was completed by nearly 900 people. The results show that the typical listener is male, lives in a big city and belongs to Generation Y. They mostly listen to podcasts on their mobile phones and are most interested in tech, film and lifestyle.
Why should you start making podcasts?
How can a podcast be a powerful tool for your marketing strategy? What are the benefits for a company to start a podcast?
CONSUMER-FRIENDLY
From a user perspective, podcasts are very convenient and simple. Content is easily accessible, all you need is a smartphone/laptop and a podcast app. The target audience can choose what they listen to and when they listen to it, giving them complete freedom. Whether you're exercising, in the car or on the bus, the podcast is always available, wherever you are.
MORE EFFECTIVE ADVERTISING
There are two ways to place advertising in podcasts. One is the classic way, where the advertisement is separate from the content, and the other is when it is embedded in the content, for example when the invited guest mentions a product, service or event. As podcasts are a series of thematic programmes, they naturally attract an audience that is engaged in the topic. This creates a well-described follower base that helps target further marketing messages.
INTERACTIVE
This genre has the ability to engage the target audience directly. Thanks to useful and informative/funny content, engagement is created, the brand speaks to the audience, who in turn react and respond to the contact. Subscribing allows this engagement to be ongoing.
LOWERS MARKETING SPENDING
Although a podcast requires some investment at the start, namely the purchase of equipment for recording, it can cut marketing costs overall. There are no additional equipment costs, no printing costs, no graphics costs and so on.
What to look out for?
There are many benefits of making podcasts, but there are a few things to keep in mind. Let's take a look at them!
FILTERED AUDIENCE
If you want to reach a broad audience with a podcast, you may not have chosen the right tool. There are barriers to entry that many people do not meet, such as having a smartphone and a stable internet connection. It should therefore be recognised that podcasting will never be a medium for the general public. But it is an excellent way to reach certain social groups.
STRONG COMPETITION
There are now millions of podcasts on thousands of topics to choose from, and the Hungarian-language selection is growing. Consequently you need to think carefully about the purpose of the podcast and its role in your marketing strategy. It is essential to define who the target group of the podcast is and to work on topics that are interesting for the target audience. It is worth following statistics to determine this, and audience surveys can also provide very useful results.
MUST BE DONE CONSISTENTLY
A podcast is great, but it will only deliver the expected results if there is consistency and regularity. You have to deal with it, plan the episodes, visit the guests, follow up the feedback. Disappointment and unsubscribing can result from inconsistent content and presentation. So if you really want to get an advantage from your podcast, you need to engage with it.
However, sometimes the intention is there, and the podcast is a good marketing decision, but there is not enough capacity to organise it. In such cases, it is worth turning to a marketing agency to get the job done and help make the episodes happen.
Podcasts have been with us for almost two decades, but in recent years more and more people are discovering the flexibility and potential of their mobility. Fortunately, at the same time, the audience is growing in size and the future looks bright for podcasts.
