Business Podcast: How Every Business Can Benefit from Podcasting

This is Episode 23 of This Old New Business weekly business podcast with Jeff Korhan. 

Business Podcast: How Every Business Can Benefit from PodcastingIn this episode we dive into why every business should be podcasting – and how to get started. My journey with podcasting started long before our launch on July 26th, 2014.

Many of my friends said: You have to start podcasting! After 23 episodes I now understand their enthusiasm. If anything, I would say they undersold the benefits of starting a business podcast.

Note: There are some affiliate links associated with the recommended resources in these notes, but only for products and services that I personally use and pay for myself. That’s why I recommend them.

Podcasting is the New Talk Radio

It’s helpful to think of podcasting as the new talk radio – because it is. Just a few days ago I was listening to a traditional radio station in my car and the host suggested downloading their app for listening on a smartphone.

That alone should tell you that the proliferation of mobile devices is behind the explosive growth of podcasting.

Just like so many other forms of media, reaching an audience used to require hefty budgets for equipment; but no more. You only need a computer and microphone to record with free software, and a low-cost hosting service (there are many) that syndicates your content to iTunes and other channels, including your own website.

In the next episode we tackle the technology. For now, let’s take a look at 5 benefits of a business podcast that will get you inspired.

#1 – Share Your Unique Perspective

The goal of marketing is be memorable, and that is naturally accomplished by sharing your voice on topics relevant to your business audience.

Your perspective and that of the people within your organization is a differentiator that personalizes the business, thereby making it more likeable.

#2 – Learn from Experts and Like-Minded Professionals

You are in an enviable position as a podcast host, because people want to tell their story. They are eager to reach and help your audience, and when encouraged to share, your show will help their audience in return.

Your podcast interviews give you the opportunity to meet and learn from influential people. Plus, you’ll learn how to be a better listener and conversationalist.

#3 – Build a Sustainable Audience

Podcasts help to build sustainable audiences because the audio content tends to naturally build familiarity and intimate relationships. Listeners tend to subscribe and regularly listen to each episode, often more than once.

As long as your show continues to deliver valuable content, it will earn the trust of listeners that is vital for them to invest in your products and services.

#4 – Audio is Easy to Create and Consume

It takes time to create quality content for a blog. However, with a little organization and a few good ideas you can create interesting and useful audio content. That’s the creation benefit.

In terms of consumption, people tend to listen to podcasts when they are commuting or exercising. These are times when you have their full attention, which is seldom possible with a blog or even a YouTube video.

#5 – Technology is Affordable and Easy to Learn

We’ll cover technology in detail in the upcoming episode. For now, check out some of the resources in the KeyTakeAways below.

The key to learning the technology for podcasting is a structured, step-by-step approach that is coupled with a reliable support system.

Is your business ready for podcasting? Listen to the audio to learn more.

Lighting Round Tips and Advice

Jeff’s Sales or Marketing Advice – Make lists of whatever requires your focus, such as prospective buyers, key influencers, or social media channels that need more attention. You can use Checkvist to organize your lists.

One of My Favorite Productivity TipsTrello is a flexible workflow management tool that helps you organize projects into lists and tasks according to their place in the workflow.

A Quote that has Inspired Jeff’s Success – “To give anything less than your best is to sacrifice the gift.” Steve Prefontaine.

Key Take-Aways

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About the Author:  Jeff Korhan, MBA, is the author of Built-In Social: Essential Social Marketing Practices for Every Small Business and host of This Old New Business podcast.

He helps mainstream businesses adapt their traditional growth practices to a digital world. Connect with Jeff on LinkedInTwitterFacebook, and Google+

Stories Are Valuable Marketing Assets

In a world in which content is clearly king, one of your most valuable business assets are stories that validate its capabilities.

Stories can not only express how your business can help potential customers, but also the vital human qualities that differentiate it from look alike competitors. Consider that your business made a considerable investment to earn its stories. In fact, sometimes the best stories are the result of persevering through costly circumstances to ultimately prevail in the end.

“Look at the bright side; you’ll have a great story to tell.” You’ve heard this expression, right?

So, the question for business owners is this: Knowing that stories are invaluable for differentiating a business, why are most companies not taking the time to mine the value of the investment they have already made?

The following three steps will help you to accomplish this.

#1 – Inventory and Care for Your Stories

The stories that every business needs to capture are its beginnings, core beliefs or values, and unique capabilities. Ideally, this information is summarized on the company website.

This may earn the initial attention of a prospective buyer; but then what?

To engage buyers and move them through the sequence of getting to know, like, and ultimately trust your business, there has to be a whole lot more.

The solution is to inventory your stories by categories, such as the type of buyer, product or service solution, and customer challenge or pain point, to name just a few.

If a business does not hold sufficient inventory to serve new customers, they go elsewhere. The same holds true when responding to social media and direct sales inquiries.

The idea is to have the stories for successfully serving your current customers ready for the next similar opportunity when it comes along.

#2 – Use Stories to Educate and Engage Buyers

If you have founded a business you know that getting that first customer is crucial, because then you have a result to point to when the next inquiry comes along, and the one after that, and so on.

However, not all customers are alike, so it helps to organize your stories to share the right ones with the right prospects. For example, a small project is not going to resonate with a high-end buyer that needs a complex solution.

Conversely, the entry-level buyer will be put off by grandiose projects. They may rightfully assume your business will not give them the attention they deserve; or they may reason your business is only interested in more lucrative projects.

Thus, you need stories in your back pocket to handle these concerns and objections. For example, when I owned my landscape design and construction business we were often asked to justify our prices. Here is the formula we used to handle that, and every other objection.

1. Identify the pain point
2. Offer a solution
3. Back it up with a story

We explained that roughly 50% of what a landscape customer pays for is hidden underground. This includes the root system to a locally grown tree, the proper base for patios and walls, quality valves for the irrigation system that will last for decades, as opposed to years, etc.

Then we would share the story of one of our many clients that wished that had come to us first, because the investment they made with another company was lost after most of it failed to perform as promised.

Here is the story lesson: You cannot evaluate pricing without fully understanding all of the hidden qualities that contribute to the integrity of a project.

Pulling back the curtain to educate buyers builds trust, plain and simple.

#3 – Stories Cut Through the Competitive Clutter

In my opinion, there is no better way to differentiate a business than with stories that are the result of direct experience with real customers.

There are many reasons for this.

  • Real stories are credible
  • They can be validated with names, places, and dates
  • Stories make emotional connections with buyers
  • They are personal, often memorable, and tend to build trust
  • A story lesson is easily shared
  • The challenge is to inventory your stories, practice, test, and refine them, and always be ready to use them well.

Traditional marketing is being replaced by social selling and relationship marketing, with stories being the cornerstone for executing both well.

Is your business ready?

About the Author:  Jeff Korhan, MBA, is the author of Built-In Social: Essential Social Marketing Practices for Every Small Business – (Wiley)  

He helps mainstream businesses adapt their traditional growth practices to a digital world. Connect with Jeff on LinkedInTwitterFacebook, and Google+.

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