Podcast Growth Maturity Benchmark for SMBs
What if, as the brilliant marketer behind a thriving SMB, you have a direct line to thousands of potential customers, each hanging on your every word? Sounds awesome, right? Well, that's the magic of podcasting. In a world saturated with content, podcasts are exploding in popularity.
With over 2 million podcasts and 4 billion monthly listeners globally according to Podcast Insights, it's a goldmine for reaching targeted audiences and establishing brand authority.
Did you know that according to Edison Research, over 70% of Americans aged 12 and over have listened to a podcast at least once in their lifetime and a whopping 70% of podcast listeners have taken action after hearing a podcast advertisement? That's a massive audience just waiting to be tapped into.
But launching a podcast is just the first step.
The real challenge lies in growing it, nurturing a loyal listenership, and turning those listeners into brand advocates (and, ideally, customers) of your brand.
That’s why in this article, we’ll be exploring the Podcast Growth Maturity Benchmark specifically designed for SMBs. This handy framework will guide you through six distinct phases, acting as your roadmap to podcasting success. Come along – let’s get to it.
Phase 1: Pre-Production Strategy - Laying the Foundation for Podcast Growth
The first phase is all about laying the groundwork for your future podcasting success. It's like building a house – you wouldn't start putting up walls before you have a solid foundation, right? This phase is crucial for ensuring your podcast is well-defined, targeted, and has a clear path for growth.
Strategic Planning: Knowing Your Why and Who
Before you hit record, grasp your company's offerings. What are your core products or services? How can a podcast help elevate your brand awareness and message? Research is key here. According to research, 62% of podcast listeners say they've learned something new from a podcast. Use this to your advantage! Develop a podcast that educates and informs your audience about your industry, subtly weaving in your expertise and solutions.
Next, define your podcast's objectives. Do you want to generate leads, build brand loyalty, or establish yourself as an industry thought leader? Having clear goals allows you to measure success. Will you be tracking downloads, website traffic, or social media engagement? Define key metrics that align with your objectives and establish a system for monitoring them.
Now, let's talk about your target audience. Who are you trying to reach with your podcast? Understanding their demographics, interests, and pain points is vital for creating relevant, engaging content.
Tailor your content to resonate with your ideal listeners.
Show Format Development
Once you have a solid understanding of your "why" and "who," it's time to develop your show format. Will it be an interview-style podcast featuring industry experts, a solo show where you share your insights, or a narrative format that tells captivating stories? The possibilities are endless! When making this decision, consider your budget, team expertise, and target audience.
How often will you publish new episodes? Deciding on a publishing cadence (weekly, bi-weekly, monthly) ensures consistency and keeps your audience engaged. Remember, building a loyal listenership takes time – create a schedule you can reliably maintain.
Tech Stack: Tools of the Trade
Technology is your best friend in the podcasting world. Choosing the right hosting platform ensures your episodes are readily available across all the major podcast apps (think Spotify, Apple Podcasts, etc.). Look for one that offers robust analytics to track your audience demographics and listening habits.
Competitor Analysis: Learning from the Best
Don't reinvent the wheel! Research other podcasts in your industry that are achieving similar goals. Analyze their format, content themes, guest selection, and marketing strategies. This "competitive intelligence" can reveal valuable opportunities to differentiate your show and stand out from the crowd.
Branding Your Podcast: A Visual Identity
Your podcast needs a personality, just like your brand. Develop a catchy show name that reflects its content and resonates with your target audience. Creating a compelling brand pack with a logo, cover art, and consistent color schemes fosters brand recognition and makes your podcast visually appealing across all platforms.
Finding Your Voice: Selecting Your Host
Now, let's discuss the person at the helm—your podcast host. This could be someone from your internal team or an external talent. When making this call, consider factors like budget, desired voice and personality, and existing team expertise.
Guest Research: Cooking up Compelling Conversations
Imagine interviewing the dream guests who will leave your audience buzzing with excitement. To achieve this, conduct thorough guest research. Identify individuals with titles, companies, and industry experience relevant to your target audience. Aim for a good mix of seniority levels to offer diverse perspectives.
Pro tip: leverage social media platforms like LinkedIn to connect with potential guests.
Project Management: Keeping it Organized
Finally, set up a project management system to streamline your production process. Tools like Asana, Trello, or Monday.com can help you keep track of deadlines, and guest bookings, record schedules, and ensure everything runs smoothly.
Phase 2: Show Launch and Amplification - Taking Flight
Having laid the groundwork in Phase 1, it's time to launch your podcast to the world. Here’s how you do it…
Podcast Episode Production: Powering Up Your Content
The first step is crafting compelling content that keeps listeners hooked. This phase involves recording a podcast trailer that serves as a captivating sneak peek of your show's format and value proposition. Think of it as a movie trailer – it should pique listeners' interest and leave them wanting more.
Following the trailer, it's time to record your intro episode. This sets the tone for your show, introduces your host and format, and provides a clear picture of what listeners can expect. To get your episode production fast, good and pretty, companies like podthrift or we edit podcasts can help product episodes o a budget.
This is your chance to make a stellar first impression, so keep it informative, engaging, and polished.
Technical Considerations: Reaching the Right Ears
Once your episodes are recorded, you'll need to ensure they're readily available to your audience. This involves securing distribution on major platforms like Apple Podcasts and Spotify.
Remember to connect your podcast to your hosting platform, which will handle the distribution process seamlessly.
Making Your Podcast Findable
Now, let's talk about discoverability. Publish your episodes on your chosen hosting platform. This platform will automatically distribute your show to popular podcast directories like Stitcher, Google Podcasts, and many more. Don't forget about the visual giant – YouTube. Uploading your episodes to YouTube with engaging thumbnails and descriptions can tap into a whole new audience segment.
Your Podcast Launch Strategy
A successful launch doesn't happen by accident. Develop a comprehensive podcast launch strategy that incorporates best practices. Consider factors like social media promotion, press outreach, and influencer marketing to generate buzz around your show.
Building Your Podcast's Home: The Microsite
Every podcast needs a digital HQ – a microsite dedicated to your show. This can be a standalone website or a section cleverly anchored within your company's existing website. Whichever route you choose, ensure it's user-friendly and includes essential information like episode descriptions, guest bios, and clear calls to action for subscriptions and reviews.
The SEO Effect: Ranking High in Search Results
Search Engine Optimization or SEO is your secret tool for attracting organic traffic. Research high-performing keywords related to your podcast topic and target audience. Use these keywords strategically in your microsite's content, including article titles, meta descriptions, and title tags. This improves your podcast's searchability, making it easier for listeners to discover you.
Internal Launch: Spreading the Word Within
Building a loyal listenership starts from within. Launch your podcast with a soft internal campaign. Ensure you have at least 5-8 episodes pre-recorded before launch day. Publish these episodes on your microsite and hosting platform.
This creates a content library for your initial audience and allows them to binge-listen (hopefully!).
Leveraging Existing Networks
Don't underestimate the power of partnerships. Craft a captivating partnership announcement highlighting your podcast's launch and promote it through your internal channels. Consider collaborating with complementary businesses or influencers in your industry to cross-promote and reach new audiences.
Phase 3: Steady Podcast Campaign Cadence - Building Momentum
Congratulations! You've launched your podcast and your audience is starting to grow. Now, it's time to shift gears and focus on maintaining momentum. Here’s how…
Guest Outreach: Keep Building Compelling Conversations
Remember those amazing guests you identified in Phase 1? Now's the time to leverage their expertise.
Continue your guest outreach efforts, scheduling interviews with individuals who resonate with your target audience. According to a report by Riverside.fm, 63% of podcast listeners say they're more likely to trust a brand advertised on a podcast they enjoy.
Partnering with influential voices in your industry can significantly boost your credibility and attract new listeners.
Consistency is Key: Sticking to Your Publishing Cadence
Remember the publishing schedule you established in Phase 1? Stick to it religiously! Whether it's weekly, bi-weekly, or monthly - consistency in publishing new episodes creates listener expectations and keeps them engaged. A sporadic release schedule can lead to listener frustration and ultimately, churn.
Content Repurposing: Spreading Your Podcast's Wings
Your valuable podcast content doesn't have to live solely within the confines of your episodes. Embrace the power of content repurposing. Transform key takeaways and insights from your show into engaging social media posts, blog articles, or even email newsletters. This expands your reach and allows you to connect with potential listeners who might not actively seek out podcasts.
Building Your Promotion Backlog: Staying Ahead of the Curve
Preparation is key to podcasting success. To maintain a consistent flow of content, create a buffer of pre-recorded episodes. Aim for up to 5 episodes in advance. This ensures you have content ready to publish even if unexpected circumstances arise. Think of it as building a content "war chest" that safeguards your publishing cadence.
Phase 4: Analyze, Optimize, & Systematize - Fine-Tuning Your Podcast Machine
Having established a steady podcast production rhythm in Phase 3, it's time to explore data-driven optimization further. Here, we'll focus on analyzing your performance, identifying areas for improvement, and systematizing your processes for even greater podcasting success.
PVO (Podcast Value Optimization): Measuring What Matters
Just like any business venture, data is your best friend in podcasting. Schedule regular Quarterly Business Reviews (QBRs) specifically dedicated to your podcast. During these reviews, analyze key metrics to understand what's working well and where there's room for improvement.
Here are some crucial metrics to track:
Average consumption rate: This metric reveals how much of each episode listeners typically consume. A high average consumption rate indicates high engagement.
Downloads per episode: This is a straightforward measure of listener interest in your content.
Total Podcast followers (Apple, Spotify, YouTube): Tracking follower growth across platforms helps gauge your overall audience reach.
Average download growth rate: Monitor this metric to see how your audience is expanding over time.
Downloads to listener ratio (return listeners): This metric indicates audience loyalty. A high ratio suggests you're attracting and retaining dedicated listeners.
Average video views (if applicable): If you upload your episodes to YouTube, track video views to understand how this platform contributes to your reach.
Number of sales-qualified leads from guests (For Account-Based Marketing or ABM): If you're focusing on ABM strategies, track the number of qualified leads generated through guest appearances.
Optimizing Your Podcast Campaign Process
By analyzing these metrics, you can further optimize your podcast. Let's see a few areas for potential improvement:
Podcast episode content review: Analyze listener feedback on various platforms to identify topics that resonate most and adjust your content strategy accordingly.
Podcast host review: Review your episodes (solo or show host). Focus on pacing, delivery, and audience engagement. For solo hosts, self-evaluate to improve skills and listener experience. If you have a show host, offer constructive feedback to optimize their delivery and audience connection.
Phase 5: Revenue Conversion Optimization - Turning Listeners into SMB Leads and Customers
Having established a loyal listenership and a data-driven optimization approach, this phase focuses on monetizing your podcast. Here, we'll explore strategies to convert listeners into leads and paying customers.
Sales & Revenue Synergy: A Collaborative Approach
Collaboration between your podcast team and your sales and revenue team is essential for successful podcast monetization. Schedule regular meetings to discuss your podcast's performance metrics, particularly those related to listener demographics and engagement. This shared understanding allows your sales team to tailor their outreach efforts to resonate with your podcast audience.
Make Some Money Using Host-Read Sponsorships
One of the most effective ways to convert listeners into customers is through host-read sponsorships.
According to a report by the Interactive Advertising Bureau (IAB), podcast advertising revenue is expected to reach a whopping $4.8 billion by 2025 in the US alone. Host-read sponsorships leverage the trust and connection listeners have with your host to promote relevant products or services.
On the other side, you can be the publisher of Host-Read Ads. Build your podcast to 5k downloads an episodes and you should get some deals for pre-roll or mid-roll ad placements.
Phase 6: Thought Leadership - Establishing Yourself as an Industry Authority
Having successfully monetized your podcast and established a loyal audience, this phase zooms in on elevating your brand's thought leadership within your industry. Here, we'll explore strategies to leverage your podcast's success and position yourself as a trusted authority.
Conference Speaking: Sharing Your Expertise on a Bigger Stage
This is your chance to step out from behind the microphone and onto the main stage. Identify key conferences tailored to your industry.
Research their speaker selection process and submit compelling proposals that showcase your expertise and the value your podcast provides. According to a report by Bizzabo, 68% of event attendees are more likely to buy from a speaker they connect with.
Presenting at industry conferences allows you to connect with a wider audience, establish yourself as a thought leader, and potentially attract new listeners to your podcast.
Trade Publication Syndication: Reaching Targeted Readers
Industry-specific trade publications are valuable platforms for extending your reach beyond your podcast audience.
Explore opportunities to syndicate excerpts from your podcast episodes or contribute guest articles based on the insights you share on your show. This allows you to connect with readers who might not actively seek out podcasts but are interested in the topics you cover.
Podcast Marketing: Expanding Your Influence
This is all about amplifying your podcast's reach through strategic marketing initiatives. Let's delve into a few key strategies:
Podcast SEO: Optimize your podcast website and episode descriptions with relevant keywords to improve search engine ranking and ensure listeners can easily discover your show.
Earned Media: Secure coverage for your podcast in industry publications, online media outlets, or even podcasts with complementary audiences. Positive mentions can significantly boost your credibility and attract new listeners.
Podcast Promotions: Consider running targeted advertising campaigns across various platforms to reach potential listeners who might not yet be aware of your show. There are solutions that alow you achieve this on a budget.
Final Words…
This concludes the six phases of the Podcast Growth Maturity Benchmark for SMBs. By following this framework and diligently implementing the strategies outlined in each phase, you'll be well on your way to establishing a thriving podcast that delivers valuable content, attracts a loyal listenership, and drives real business results for your SMB.
Want to launch a podcast or turn your existing podcast into a powerful lead-generation tool and establish your SMB as an industry thought leader? Let's chat - email me at dots@dotslovesmarketing.com!
