With over 850,000 active podcasts, and more than 30 million podcast episodes, this only shows that podcasting has become a mainstream in information, technology, and business. Podcast Insights (2020) shares this startling growth of podcasts statistics in 2020 considering that there were only about 500,000 active podcasts in 2018. But, why is podcasting so popular these days?
To start, podcasting actually was introduced by Apple about a decade ago. A combination of the words iPod and broadcasting. It is basically similar to listening to a radio; yet, with a bit more of perks for the listeners’ convenience. With podcasts, listeners can choose the topics that they want to listen to; which makes it different from listening to a radio wherein listeners have no control over the topics that the disc jock would want to talk about. Another benefit of podcasts is that listeners can listen to podcasts at any time because podcasts can be downloaded in to iPods. Listeners can also subscribe to their podcasts of choice; so, they will be notified if new episodes are uploaded. Hence, listeners will never miss an episode.
At the start of podcasts in 2009, it only captured 11% of the American population; but, as of 2019, Statista reported an estimate of 51% of the American population above the age of 12 are listening to podcasts. Why just now? In the advent of technological innovation, podcasts can now be downloaded in mobile apps. Thus, making podcasts more accessible to anyone who has a mobile phone; and, 93% of the world population have mobile phones. This is one of the reasons why a lot of businesses are now moving towards podcast marketing. But, why podcast? Why not blogs or video blogs? Or, why not even YouTube videos?
Ashley Ward, Vice President of Operations at Top Hat Rank marketing agency, explains that podcasts are very convenient and efficient to the listeners. Unlike with video blogs or YouTube, podcasts only require listening attention. Mom and dad can prepare their kids breakfast and continue doing house chores while listening to podcasts. Commuters can drive while listening to their favorite podcasts. Blogs need to be read, and require full attention; but, podcasts do not.
In business, podcasts are more preferred because they are cost-effective. Marketing executive, Mark Imhoff, shares that the cost of production for a video presentation is three or four times more than the cost of production in recording your own podcast. It also very efficient because it does not require a lot of editing work, unlike in video blogs; therefore, a much faster submission of contents.
Another benefit of podcasting is that Podcasts listeners have more disposable income. This means that the average podcast listeners can afford to buy what your company may be advertising in your podcast. eMarketer (2019) reported that more than 15% of the listeners are earning an annual income of $150,000; and, 54% of podcasts listeners are more likely to buy the products being advertised. This is also why a lot of people listen to podcasts because it also provides a chance to learn and discover new products and new brands.
Moreover, podcasts, unlike YoutTube videos or vlogs, have options for audience interaction. Some podcasts, although not many, allow audiences to answer questions, take polls, and even call the host. This type of interactive podcasts pulls audiences to listen and can develop loyalty amongst listeners.
Lastly, since podcasts just started to become more and more a choice for many businesses, the competition is not yet saturated. You can start your own podcast with your own unique topics, and eventually develop and establish a following before your competition can start. So, the sooner you publish your own podcast, the better.
There are probably a hundred more benefits that podcasting can bring to your business; but, the ones mentioned above are the most common and the most convincing reasons why you should start your own podcast. The time is now! Podcast now!