Podcasting is the dynamic new way to grow South African businesses.
From comedy to social commentary, from health matters to true crime series, podcasts have exploded onto the world stage in the last few years. And South Africa hasn’t been slow to become a part of the phenomenon. In fact, we lead the world in the percentage of listeners who spend more than an hour a week consuming podcasts.
With the number of South African podcast listeners projected to grow to 4.8 million by 2027,[1]it’s a good time for local businesses to take the medium seriously as a way to sell more of their products and services.
A few pioneering South African podcasting ‘brands’ are already proving just how effective a marketing tool the podcast can be. Podcast and Chill with Mac G, Mpoomy Ledwaba’s Wisdom and Wellness, and Ideas That Matter with Vusi Thembekwayo are examples of local podcasts where individuals have created their own ‘personal’ brand. They generate income from advertising revenue but also from marketing ‘product’ associated with their brands.
Some companies leverage the medium through hugely successful business-orientated podcasts such as Michael Avery’s Business Talk or Money Matters with Jeremy Maggs. Many Financial Institutions have developed their own podcasting channels that, to varying degrees, transcend mere sponsorship and sell their brand through association with trusted industry experts, insights and analyses.
Media outlets have also sought to mitigate audience or readership loss by expanding their brands into podcasting.
For smaller or medium-sized businesses podcasting represents a golden opportunity to stand out and be heard.
Podcasting gives your brand a voice
For this rapidly growing medium to be effective for businesses they must first be a brand instead of merely a company selling products or services.
In marketing terms, building a brand to increase sales is already well understood. People are more likely to buy from a company that has a personality. A point of view. A way of doing things and talking about things that people understand, respect and empathise with.
Podcasting is the perfect way to build a brand by developing, in this case literally, its own, unique, brand voice.
Presented by a person or persons, the podcast has the power to build a much more ‘one-on-one’ relationship with the consumer.
The voice (including in a video podcast) becomes almost a trusted friend. A friend giving useful advice, information or just relating some light-hearted experience.
If that ‘relationship’ seems a little one-sided it certainly doesn’t have to be. Successful podcasts extend engagement to a proper conversation by encouraging and facilitating responses from listeners. Some podcasts even support the creation of podcast ‘community groups’ to broaden the discussion about ongoing topics.
By building a brand in this way businesses are giving their customers a reason to like them, not just their product. They turn their customers into followers.
Followers are brand loyal.
How podcasting turns consumers into followers
How to create a podcast that gets heard and sells
Anyone can get hold of a microphone and maybe a camera. And that’s all you need to record yourself. In theory, you could start a podcast with just your cellphone. But if no one is listening it’s like whispering in the wind.
To build your business through podcasting you need to build a brand (even if you are the brand). Then you need to build an audience for your brand.
The first thought for many is to reach as many people as possible. Actually, the first thing to do is narrow down your audience to only the type of people who might be interested in what you are saying and what you are selling. This is your target market. The people who will become your followers. 100 listeners who are in tune with your brand are worth much more than 1000 who have just ‘tuned in’.
Identifying a more niche audience will help you better define your brand voice and give you ideas for the kind of content you need to create.
Many processes need to be considered and put into practice. Deciding on the format of your podcast, submitting the podcast to every podcast app and directory, search engine optimization of the show, promotion through social media channels, and creating a website as a base for your podcast. There’s a lot to do.
Podcasting requires a level of skill in areas that include marketing, content creation and production.
The quality of your podcast production is critical because it gives you the credibility that your audience needs.
Most podcasters agree that no one should attempt to do everything on their own. The way to build a brand through a successful podcast is with a professional production and marketing enterprise.
Why now is the time to podcast
The forecast for growth in the number of listeners in South Africa is exceptionally high. At the same time, in many ways, these are still early days for podcasting. The field has not yet been saturated giving particularly small and medium-sized businesses a great opportunity to make their presence felt.
- Investing in podcasting instead of traditional media to increase profits has distinct advantages.
- Production costs are often lower than traditional media.
- Podcast content can be refreshed more easily.
- Podcasting fulfils the on-demand nature of the modern consumer. It can be listened to or watched as and when they choose.
- Podcasts remain accessible for an indefinite period.
- The personal voice of podcasting creates a more powerful engagement and brand loyalty.
- Podcasting allows for the building of ‘communities.