The earliest days of podcasting are hard to pin down, but, in truth, they are simply digital and updated versions of pirate radio stations. The internet has been pivotal in changing how many of us consume entertainment and media, and the grassroots nature of podcasting means it doesn’t take much to set up your own pod.
For many, this dynamic has created an ambivalent approach to podcasts. On the one hand, we have those who have a set of podcasts they’ll listen to every week, many of which are hyper-specific in their appeal.
Many of the top podcasts are comedy shows that follow a similar format, but there are others that generate millions of views and listens across several social media platforms. And when a podcast reaches this level of success, it starts to generate money and becomes a business model.
Following A Set Blueprint
With more podcasts exploring ideas like affiliate marketing, sign-up codes, and partnering with some of the biggest gaming brands, we’ve seen more podcasters frame their marketing in the same ilk as established marketing ideas that have littered the internet over the last 20 years.
In casino gaming, for instance, the industry has been leveraging those with a sizeable subscriber or follower base for well over a decade now. However, it wasn’t until recently that we saw podcasts enter this equation as a fruitful source of fresh customers.
As the casino gaming world shifts toward new ideas, with cryptocurrency becoming one of the latest market trends, there is still a flurry of platforms that use affiliates and sign-up codes and are now fusing them with new technologies like blockchain and crypto. Cafe Casino has taken aim at this market, with cryptocurrency playing a significant role in their design, but from a marketing perspective, they still aim to use modern channels, such as affiliates and contemporary media like social media.
It’s not just casinos that have mastered this approach, but for those who have a podcast and are looking to monetize their audience, taking marketing tips and inspiration from successful industries is not a bad place to begin.
Turning Clicks To Cash
Podcasts often start as DIY projects, but as they grow in scope and audience size, they quickly become a business operation, and depending on the intricacies of the podcast, some can employ up to a dozen people.
These roles can cover sound engineering, make-up, show writers, set designers, individual guest procurers, and lighting specialists. If a podcast becomes big enough, it can be a fully-fledged business that rivals the income of a late-night talk show. Given the saturation in the market, monetizing a podcast has become more difficult and nuanced, but the general rule of thumb focuses on being able to generate an audience and sustain it. If you can do this, then this is the most crucial aspect of turning it into a profitable idea.
As you can see in the link below, YouTube is becoming an increasingly popular route for marketing, regardless of the industry you are in. Ultimately, it is this scattergun approach that covers a variety of socials that lays the foundations for the most successful marketing ideas.
Why Podcast Marketing Can Be Lucrative
Like any advertising strategy, it all revolves around your ability to generate and maintain an audience. If a podcast generates tens of thousands of views and listens per episode, this is an excellent starting point from a marketing perspective. Not only is it a large pool of potential clients, but, depending on the podcast, it can also be a bespoke market that can yield a greater return.
For instance, if a gaming podcast becomes popular and partners with a major game designer, this specific type of marketing is more likely to yield a return. In the US, podcast marketing is set to surpass $2 billion within the next year, and many market analysts see this growth year over year through 2030.
Unlike the days of radio advertising, where a generic ad would go out to millions, and a significant portion of that audience would not find it engaging, podcasts work on the other end of the scale. The potential audience is much smaller, but because they are subscribed to a specific type of podcast, you have a good idea of the kinds of brands they enjoy.
Final Thoughts
It’s important to remember that when we talk about entertainment and marketing ideas that partner with entertainment bands, the audience size has not changed. In fact, in many ways, the internet has enabled podcasts to reach millions of people they wouldn’t have otherwise.
Gone are the domestic marketing days of radio and TV; international audiences now command the largest share of the market, and if you can carve off a niche in several international markets, rather than a generic, domestic approach, then you have every chance of turning your podcast into a successful business.
To read more content like this, explore The Brand Hopper
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