Stand Up NY Labs co-founder Jonathan Fatigate explains the business of podcasting, how to grow your audience and make money with audio, and why companies should invest in word-of-mouth marketing.
This week on TechRepublic's Business Technology Weekly podcast, host Dan Patterson interviews Stand Up NY Labs executive producer and co-founder Jonathan Fatigate about the most successful podcast formats, how to grow and market programs, and how audio programs can strengthen your brand.
Podcast takeaways for business listeners:
- Podcasting is a long-term investment: Most podcasts experience linear, not exponential, growth. Don't buy advertising or spend budget on traditional marketing tactics. Instead, spend money and invest time crafting high-quality content. Expect slow, but consistent growth.
- Passion is key: Podcasts work best when the content intersects listeners and passionate topics. The "show about nothing" is rarely successful. The most effective programs are niche-oriented and tightly produced.
- Cater to loyal listeners: Although audio podcasts grow more slowly than video, word-of-mouth marketing leads to listener loyalty.
- Live read advertising is the most effective: Most podcasts start to generate revenue when they reach 30,000 downloads per month. Shows are best monetized on a cost per thousand, CPM, model and the most effective ads are interstitial spots read by live by hosts.
- Successful podcasts don't have to make money: While some programs can generate revenue, successful podcasts can help reinforce your company's position in the market, keep your company top of mind with consumers, and extend your brand offline, into customers ears.
- Read more: Laugh Tech: one comedy club identified and capitalized on innovation opportunities
SEE:Seven ways to build brand awareness into your digital strategy (Tech Pro Research story)
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Thanks for listening.