Podcasting has emerged as the hottest medium for many celebrities, entrepreneurs and brand builders. Yet, even though the most recent podcast boom, there are still brands out there that question if starting a podcast is “worth it.” Before we get into why every brand or business should have a podcast, lets first cover the industry in general, and who is listening to podcasts.
- Over 70% of the US Population (over age 12) is familiar with podcasting
- 51% have listened to a podcast
- 32% have listened in the last month
- 41% of listeners have an annual income of over $75,000+
- 80% of listeners have at least some college education
- 65% listen on their smartphone/portable device
- 97% listen to an episode within a week after downloading
- 93% listen to most of or the entire episode
- 74% listen to learn new things
- 71% listen to be entertained
- 87% enjoy listening because they can enjoy while doing other things
- 54% say they are more likely to purchase products/services they hear on podcasts
So what does this mean?
- Podcast Listeners are everywhere- Over 70% of the population is familiar with the term podcasting and over 50% have listened to a podcast. If your brand is not communicating with 50% of the population, you’re leaving a huge opportunity on the table.
- Podcast listeners have buying power- Over 41% of podcast listeners make an annual salary over $75,000+ which means that if they hear a product, message or service they connect with, they have the power to buy that product. This is why podcasting has become so valuable to advertisers, brands, products.
- Podcast listeners are educated- 80% of listeners have some college education, and 74% are listening because they want to learn new things. This means that if brands can educate listeners about who they are and what they do, while also entertaining those listeners (71% listen to be entertained), they have a real chance of breaking through.
- Podcast listeners value the host’s opinion- 54% are more likely to purchase a product they heard on a podcast, and that number rises when hosts naturally integrate products and advertisements into the content. Podcasts are an “opt-in” format, meaning that users must subscribe to receive podcasts episodes. By subscribing, listeners put their stamp of approval, and trust, on the host along with the podcast.
- Podcast listeners are current and engaged- 93% listen to most of or the entire episode and 97% listen within a week. This means that if you can capture an audience, they will stick with you throughout the episode. This also means that if you can keep their attention, you can directly engage with that audience and keep them up to date on happenings within your business.
Podcast listeners are engaged, they crave information, they love to be entertained, they have buying power and they are very busy people. These are people that are working, growing companies, building families and buying products. Podcast listeners love podcasts because podcasts fit within their crazy schedules. Podcasts can be listened to on the go, whether that’s the morning commute, in the car on a lunch break or at the gym in the evening. Podcast listeners are the listeners and potential customers that your brand or business needs.
If you own a business or brand that has long considered starting a podcast but hasn’t yet made the leap, think about the opportunity cost of not connecting with over half of the population. Your podcast may some time to set up and create, but the cost of not connecting with your audience is far greater. Starting a podcast allows you to connect directly with your potential customers and fit within their busy schedules, making you part of their routine and their lives.
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