A few years ago, most of the population did not know what a podcast was or why people were even listening to them. Now, it seems like everyone knows someone hosts their own podcasts. People are listening to podcasts more than ever and now is the time to take advantage of its growth and popularity to help expand your business. Below are three reasons why your business should have its own podcast.
1) Podcasts are Easy and Cost-Efficient to Produce
Microphones
Starting and creating your own podcast may seem very intimidating at first, but when you actually start the process, you will realize how easy it actually is. You also do not need to spend hundreds or thousands of dollars to purchase professional audio or editing equipment to have a good podcast. The first step in starting your podcast is buying a microphone. It is obviously 
important to have good audio quality for a podcast and the microphone will make that difference. If you really are trying to spend as little as you possibly can, you can use the built-in microphone on your phone. But, the audio quality will not sound as good compared to a microphone. You can buy exceptional microphones that are fairly inexpensive. The Samson Q2U costs $49.99 and many people have left great reviews about it. The microphone will be the largest cost to you starting your podcast and the cost will also depend on how many people you have on your podcast. Once you have decided on a microphone, you will need audio and editing software.
Software and Hosting
Audacity is a free audio and editing software that allows you to record and edit your podcasts. Editing your podcast is important because it allows you to cut out audio you decide you do not want in there, you can add audio you recorded at a different time, or you can add music for transitions. Once your podcast is edited, it needs to be uploaded to a hosting site. There are many different hosting sites like Libsyn, Soundcloud, or TuneIn. Once you have downloaded your podcast to a hosting site, you can upload your podcast to Spotify, Google Podcasts, Apple Podcasts, Pandora, etc. Again, the startup cost will depend on how many microphones you need. If you are planning to have one to three people, the start-up cost should be around $55-$160. From there you are free to record as many podcasts as you want.
2) More People are Listening to Podcasts
The percentage of Americans that have listened to a podcast is growing every year. According to Edison Research, in 2019 51% of Americans have listened to a podcast compared to 33% of Americans in 2015. That is around 144 million Americans that have
listened to a podcast in 2019. If half of the United States population is listening to podcasts and 32% listened to one in the last month, then you need to get your voice out there. Even if half of the population isn’t listening to podcasts, they are familiar with what they are. Edison Research also found that 70% of the United States population is familiar with the term “podcasting”. So, this shows that having a podcast is a legitimate form of marketing and it also shows that more people will be listening to more podcasts in the future.
3) Podcasts are Engaging
Since podcasts have become so popular in recent years, a lot of data has come out that shows how effective they are in engaging its audience. A study done by fastcompany showed that out of the 300,000 podcasts listeners surveyed, 63% bought something that was promoted on the podcast. It was also found that 71% visited a sponsor’s website and 62% considered buying that product or service. This level of engagement from an audience is very high compared to other marketing strategies. A reason why people are more engaged with podcasts is that they can be downloaded on your phone from many different platforms. This allows people to take their podcasts anywhere and listen to it whenever they want. Another reason why engagement is high is that people feel or develop a relationship with the hosts. If people listen to a podcast weekly, the podcast becomes apart of their routine and they will have a connection with it. With engagement being so high, there is no reason why you should not have a podcast.
Having a podcast for your business is a great way to change up your marketing strategy and will allow you to connect with a broader audience.