When you look at the ever-increasing number of new shows, many of which fail to attain their goals, it’s easy to see more risks than opportunities in podcasting.

Take a closer look at the successful examples, however, and you’ll find that a well-designed podcast that provides value to its audience can grow a large, loyal community. You’ll see that such podcasts have a better return on investment than other forms of advertising. From creating your concept to production, distribution, and earning, this post will give you the tools to reach your customers in new and exciting ways.

Before you start a business podcast, you need to clearly define who your ideal listener is in order to create a show that caters to their specific needs. Your podcast should support your business, but this doesn’t happen by accident. If you want to produce a great program, you have to be clear about what it is that you’re trying to achieve. Put differently, you need to have an ultimate goal in mind.

Given podcasts’ ability to attract and keep an audience, it’s no surprise that business owners, entrepreneurs and marketers are looking to capitalize on the popularity of this medium. As a podcaster, you can position yourself as an authority in a particular topic or field, which will help you influence clients and customers in ways that encourage them to purchase your products and services, invest in your business, or promote you to their peers. And all of this can be done on the cheap, because in most cases, creating a podcast does not require a significant financial investment.

The simple fact is that you need to have an audience to make your podcast worth the time, effort, and money you’re putting into it. The larger your audience, the faster your growth, in many cases. Why? First, you’ll be able to attract quality guests. Secondly, you’ll be more likely to get high-quality sponsors. Finally, word-of-mouth is a great marketing tool. The more people listening to your show, the greater the chance that your content will be shared.

How fast can you grow? How do you get more than a trickle of new listeners? Are keywords and a web presence really enough? Of course not. To really build your audience, you have to take things to the next level.

Let’s talk about branding. The start of your show needs to make a good impression. The title, artwork, and a polished audio introduction will give a professional feel that will act like the cover of a book. It should be clear what the show is about from the get-go. Any audio element should be to-the-point so as not to sound monotonous to returning listeners.

One important aspect of recording is making sure you have the right hardware and software. It can take a lot of research and get a bit pricy, but the quality of what you put out makes it worth it. Spending some time finding the right tools is essential.

Launching and maintaining a podcast can allow companies to position themselves as thought leaders within a certain industry or space, especially if they focus on creating unique and compelling content. By aligning themselves with a specific narrative, brands can control the way they are perceived and help consumers connect with their products and services. Moreover, podcasts as a medium are particularly geared towards educated millennial professionals – a sizable demographic which will account for 75% of the workforce by 2025.

Internet users are already being tracked to death, with ads that follow us around, search histories that are collected and stored, emails that report back to senders when they’ve been read, websites that know where you scrolled and what you clicked and much more. So naturally, the growing podcast industry wanted to find a way to collect more data of its own, too. Yes, that’s right. Podcasts now track detailed user behaviour, too. This new technology aims to help publishers collect more comprehensive and standardized listening metrics from across platforms.

Once you have your podcast up and running, you’ll find there are several ways you can make money with it, even if you’re just getting started. If you already have your own products and services than certainly, you can mention those on your podcast. If you don’t have your own products or services, you can promote other people’s products and services as an affiliate and earn a commission for doing so. Once your podcast grows and has a large enough audience you can receive income in the form of sponsorships and product mentions. There’s really no limit to the number of ways you can make money with your podcast.