In the ever-evolving world of digital marketing, podcasting has emerged as a powerful tool for businesses to connect with their audience and drive growth. This week on the show, I had the opportunity to speak with  Virginia Elder, founder of Podcast Abundance on the world of podcast marketing. With years of experience helping entrepreneurs create and manage successful podcasts, Virginia has become a leading expert in leveraging audio content for business growth. This week we are going to be sharing five strategies that will help you unlock your podcast's true potential and take your business to new heights.

1. Podcasting as a Sustainable Marketing Strategy

Podcasting offers a unique advantage over traditional marketing methods: longevity. Unlike billboards or social media ads that disappear once you stop paying for them, podcast episodes remain accessible to your audience indefinitely. This creates a lasting library of content that continues to work for your business long after its initial release.

 

The cost-effectiveness of podcasting compared to other marketing channels is immense. While businesses typically spend 2-5% (or even up to 10%) of their revenue on marketing, podcasting allows you to create content once and have it live forever. This makes it a more efficient use of your marketing budget in the long run.

 

To maximize the sustainability of your podcast, focus on creating content that remains relevant over time. This ensures that your episodes continue to attract and engage new listeners, providing ongoing value to your audience and your business. By building a library of episodes, you're essentially creating a self-sustaining marketing engine that works for you 24/7.

2. Set Realistic Expectations for Growth and Conversion

One of the key insights Virginia shares is the importance of understanding the growth trajectory of a podcast. Unlike other marketing methods that might provide instant gratification, podcasting is a long-term game that requires patience and persistence.

 

Here are some realistic benchmarks for podcast growth:

• Under 30 episodes

• Around 50 episodes:

• 70-100 episodes

 

While these numbers might seem modest at first, it's important to consider the high conversion rates associated with podcasting. While the average marketing conversion rate is around 1%, podcasts can see conversion rates up to 9%. This means that even with a smaller audience, you can potentially see better results compared to other marketing channels.

 

Focus on consistent, quality content creation rather than obsessing over immediate results. As you build your podcast library and audience over time, you'll likely see exponential growth in both listeners and conversions. 

3. Drive Listeners Towards Becoming Paying Customers

To effectively convert podcast listeners into customers, Virginia recommends implementing a clear and focused call-to-action (CTA) in your episodes. This CTA should direct listeners to a valuable free resource, such as a PDF guide or checklist, in exchange for their email address.

 

By building an email list, you create a direct line of communication with your audience outside of the podcast platform. This allows you to nurture relationships, share additional value, and ultimately guide listeners towards your paid offerings. Placing your CTA within the first 20% of your episode can ensure maximum visibility.

 

Don't be afraid of sounding "salesy" when presenting your CTA. Most listeners actually want to take the next step with you and are waiting for you to offer them something of value. By providing a free resource that solves a specific problem related to your business, you're not only adding value but also demonstrating your expertise and building trust with your audience.

4. Own Your Podcast Assets

One of the most critical pieces of advice Virginia shares is the importance of maintaining ownership and control over all your podcast-related assets. This includes your domain name, hosting accounts, and all raw and edited episode files.

 

By retaining full ownership of your podcast assets, you protect yourself from potential issues that could arise if you lose access to third-party platforms or have disagreements with service providers. This approach also ensures that you can easily make changes or move your podcast if needed, without losing your content or audience.

 

To implement this strategy:

1. Use your own domain for hosting your podcast website

2. Keep secure backups of all your episode files

3. Maintain a list of all usernames and passwords for podcast-related accounts

4. Consider using a password manager to securely share access with team members when necessary

 

Your podcast is a valuable business asset. Treating it as such and maintaining full control over it is crucial for long-term success and security.

5. Avoid "Pod Fade" by Focusing on Sustainability

"Pod fade," or the gradual abandonment of a podcast, is a common issue that many podcasters face. Virginia identifies two critical points where pod fade often occurs: between episodes 3-7 and around episode 50. To combat this, she emphasizes the importance of creating a sustainable podcasting strategy from the outset.

 

When designing your podcast, consider your available time and resources. If you can't commit to hour-long episodes, opt for shorter, more manageable formats. Choose a content style that plays to your strengths - if interviews make you nervous, start with solo episodes where you share your expertise. The key is to create a show structure that you can maintain consistently over the long term.

 

Try batching your content creation. Whether you're scripting episodes or conducting interviews, try to produce multiple episodes in one sitting. This approach helps maintain a consistent publishing schedule and reduces the ongoing stress of content creation. By focusing on sustainability from the start, you'll be better equipped to overcome the challenges that lead to pod fade and continue growing your podcast over time.

Use Your Podcast For Your Business

As we've explored in these five strategies, podcasting offers a unique and powerful way to market your business. By embracing podcasting as a sustainable strategy, setting realistic expectations, effectively converting listeners to customers, maintaining ownership of your assets, and focusing on long-term sustainability, you can unlock the full potential of your podcast as a marketing tool.

 

Consider how you can apply these strategies to your own podcast or business:

 

• How can you create more evergreen content that will provide value for years to come?

• What free resource can you offer to start building your email list?

• Are all your podcast assets securely under your control?

• How can you restructure your podcasting workflow to make it more sustainable?

 

Success in podcasting doesn't happen overnight, but with persistence and the right strategies, you can build a powerful marketing asset that continues to grow and benefit your business for years to come. Start implementing these tips today, and watch as your podcast transforms into a key driver of your business growth.

 

 

---

 

If you're looking for a great all-in-one podcasting platform with 35 integrated modules, you can get a free trial at PodUp.com. 

 

Thanks for joining us for this episode. I wish you all success as you leverage podcasting or continue to leverage podcasting as a marketing strategy for your business.