I talked about the benefits of podcasting quite a bit last year, and with the new year up and running, I wanted to take the time to re-stress the value that podcasting can bring to your business ( I can’t even begin to explain the wonders it has done for mine). Plus, it’s actually very easy to set up and is a much more efficient use of your time compared to how long it takes to create other pieces of content.

If you haven’t already included it somewhere in your plans for the next 12 months, I highly recommend doing so, and here are a few of my reasons why.

1. Increased engagement

Let’s face it, these days, it’s hard to pay attention to content for extended periods of time. With podcasts, however, you can fit them into your day whenever it works best for you, making the consumption of this type of content for extended periods of time far more common than it is with other forms of content.

This gives you opportunities to showcase your knowledge in a way that you’re unable to otherwise. This goes without saying, but having your brand in front of your audience for extended periods of time can be extremely valuable.

2. Less competition

As of July 2017, there were around 350 million blogs from Tumblr alone. If that stat doesn’t show you how crowded the online space is, I don’t know what will.

Podcasting is different. While becoming increasingly popular year over year, there’s still significantly less competition in this space, making it easier for you to stand out with your target audience.

Podcasting still allows you to compete on an even playing field.

3. Establishes an emotional connection

Podcasting allows you to develop a deeper relationship with your audience. Hearing your voice frequently makes your audience feel like they actually know you. The more a person feels like they know you, the more likely they are to trust you, and in turn, buy from you.

Plus, if people feel a loyalty to you and your brand, they’ll be more likely to leave you positive reviews, which further builds on your trust and credibility.

4. Networking at its best

One of the big surprises to me was the relationships that you develop during an interview.

Reaching out to others to have them as a guest on your show is a great way to build your network. The more people you can connect with, the more you’ll increase chances of referrals, leading to more opportunities and business for your company.

What’s even cooler about networking on this platform is that you can network with people you would never be able to otherwise, like influencers and people you view as mentors or role models.

5. Catalyst for additional content

Creating content is essential to the success of a business today, but finding time to create a bunch of content can be difficult.

So, why reinvent the wheel? With podcasting, you can repurpose the material into other forms of content, such as video or a series of blog posts. Repurposing the content will also help you to further expand your reach because part of your audience may not consume audio-based content, but they may be avid readers and vice versa. See what I mean?

6. Monetization

You certainly don’t have to monetize your podcast if you don’t want to, but if you are interested in making money from your show, there are a number of ways to do that, including:

• Sponsorships
• Affiliate marketing

In general, a podcast is also a great way to build leads, so although the monetary benefits may not be immediate, the business in can bring you over time can be huge.

7. Podcast guesting provides new opportunities

Earlier in this post I discussed how having guests on your podcast can be great for networking, but you being a guest on another person’s podcast can provide the same benefits.

As you are interviewed on more podcasts, your reach begins to snowball. It’s a great way to get exposure with very little effort (far easier than taking the time to write a guest blog on another website).

A few other perks to keep in mind include:

• Gives you access to an engaged audience outside of your own
• You have virtually no preparation (the host does the majority of the work)
• High production value will make the content more shareable
• There will likely be show notes (and often transcripts) that will drive links back to your website (helping improve your SEO)

Now, in order to be truly effective with podcasting, be sure to have a clear vision of what you’d like to get out of it and know who you are targeting. Once you have those in place, dive in and start receiving the benefits discussed above.

Bottom line, in one interview, with little preparation, you can gain access hundreds or thousands of targeted listeners. Who wouldn’t want that? Do your research, set everything up, and get going.

If you liked this post, check out our Guide to Content Marketing for Small Business.