Episode 19: What is the Future of Podcasting for Businesses?
Come with me on a little experiment I did to find out what the future of podcasting is for businesses in 2024 and beyond.
You'll learn about:
Authentic brand storytelling
Sharing your thought leadership
Increasing employee engagement
Shopping directly from podcast platforms
Creating from data driven insights
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Good Chat Media acknowledges the traditional owners of the land where we work, live and record the Wurundjeri people of the Kulin nation and we pay our respects to elder's past and present always was always will be Aboriginal land Hey, I'm Cass, the founder podcast production agency, Good Chat Media and welcome to Good chats. Good chat is a podcast with a holistic approach to business and marketing. And with the help of some super special people, I'll be spilling all the secrets about boosting your brand building credibility and connecting with community through podcasting. Let's get into the episode.
Hi friends, welcome back to another episode of the Good Chats podcast. It is your girl Cas from Good Chat Media here. What the heck is up? How's your week going? I don't know when you're listening to this, but I hope whatever day it is outside you're looking and it's sunny and it's not a cold winter's day in Melbourne and you're feeling good, you're feeling fresh.
I hope that's what you're getting today because it's not when I'm recording this. Anyway, I'm not here to bitch about the weather. I'm here to talk to you about a little experiment that I did to understand the future of podcasting 2023 and beyond. So I asked our little friend ChatGPT, what does the future of podcasting look like?
So to make this very clear, this is not my words. This is not my thoughts. This is what ChatGPT thinks the future of podcasting will look like. And I asked it specifically what it's going to look like in 2023 and beyond, but what it's going to look like for businesses, because that's really why we're here, right?
We're here for business. So let's get into it. So they said in 2023 and beyond, the future of podcasting for businesses. Looks promising with significant opportunities for growth and engagement. Here are some key trends and developments that businesses can expect in the podcasting landscape. Now, I'm saying that these aren't my opinions, but to be honest, it aligns with everything that we talk about anyway, which makes it very good for me because it means that I know what I'm talking about.
Okay. So if you've heard this before, Amazing, but I wanted to share it with you. So number one, surprise, surprise brand storytelling. So businesses will increasingly recognize the power of podcasts as a medium for authentic storytelling. They will use podcasts to share their brand story, values, and mission connecting with their audience on a deeper level.
Bing, bing, bing. We already knew this. So that's good that they're expecting that this will still continue in the future. The second one is thought leadership. Podcasts will serve as a platform for businesses to establish themselves as thought leaders in their industries. Companies will create podcasts featuring experts, industry leaders, and employees sharing valuable insights and knowledge.
Another win for us, we already knew that. That's why you're here. That's why you started your podcast, to share your thought leadership. An interesting one that came up, number three, was employee engagement. And I don't think I've ever really thought about it in this way, so I thought it was very interesting, this one.
Businesses will turn to internal podcasts as a means to enhance employee engagement. communication and training. Podcasts can become an effective tool for sharing company updates, providing training materials and fostering a sense of community among employees. Now for me, I don't know that that one is super relevant.
I think they're thinking of it kind of like an email or like a intranet type thing. Uh, I don't think it's incorrect, but I think you'll still find a lot of videos being used for these kind of employee engagement things. So you know, training materials, most of the time you need a video. Company updates, sure.
They can do a quick voice note, but I don't know that I would call it a podcast. So that'll be interesting to see there. Number four is content marketing. Now I don't know if you can hear the smile on my voice because...
And I'm so glad it does. Content marketing. Podcasts will become an integral part of content marketing strategies for businesses. Companies will create podcasts to compliment their existing content, engaging with their audience in a more conversational and intimate manner. I always talk about how intimate it is when you're putting your headphones on and you can hear someone talking to you.
It feels like a one on one, and there's not many places where you can get that kind of one on one. Connection with someone that you're probably never going to be in a room with so that is a really special thing that we have, and I definitely think that one will stick around the next one says niche targeting so businesses will recognize the potential of niche marketing through their podcasts, enabling them to reach specific and highly engaged audiences interested in their products or services.
I think that's definitely something. I think most businesses have a way of niche targeting through their marketing. So that will just be more of a conversion tool to be able to convert a certain group of people, maybe segmented. Uh, so we'll have to see where that one goes. The next one is interesting.
It's sponsored content. It says, as the podcasting industry evolves, businesses may explore sponsoring podcasts or collaborating with influential podcasters to promote their brands and products. This is something that makes sense. Now, as I've told you before, sponsorship isn't the only way to monetize your podcast, but if you're doing, this is like a influencer campaign rather than a normal sponsorship situation where a business sponsors your podcast so that you can make money.
This is more the business is going to sponsor the podcast that has a huge influencer to be able to promote their product. It's kind of giving affiliate marketing as well a little, but we shall see what it means in the future for sponsored content. All right. There's a couple left. The seventh one on the list is interactive advertising.
Businesses may leverage interactive advertising formats within podcasts, encouraging listeners to engage with the content. Participate in surveys or even make purchases directly through podcast platforms. Now that is interesting. Like if you're able to directly, you know, click on something like how Instagram brought in, you know, shop when it came in that you could just tap on it, see something tagged, and then actually buy it almost immediately.
I think that will be quite fascinating to see happen. I think we've already got some things going with questions. So where it says like participate in surveys, we're already kind of doing that. I mean, Spotify for podcasters already has an option where they say, you know, they put a question on every episode.
That's usually, what did you think of this episode? Uh, but for some clients that post their episodes on. Spotify for podcasters. I do change up the episode questions so that we're really getting a good understanding of how interactive people are and how we can make them more interactive by letting them know that those questions are there.
The eighth one is data driven insights. And it said, podcast hosting platforms will likely provide businesses with more sophisticated data analytics. Allowing them to better understand their podcast performance, listener demographics, and engagement metrics. So these kind of data driven insights are really fascinating because it includes things like not just, you know, the geographic distribution, the listening platforms, the engagement, but it includes the listener behavior.
And that's what I think is really interesting. So, you know, which episodes they think are most popular, where are they dropping off during the episode? And those things are really going to help you create, and we've already got this. So it's not a super future thing, but it really helps you. Identify which content resonates best with your audience and then what might need improvement to make either people want to listen to the episode more or how to keep them involved in the episode so that they feel like they want to stay now in saying that everyone's busy and when you're listening to podcasts, you're not listening and doing nothing else.
I don't know anyone who just sits there and does nothing and only listens to the podcast. In my brain, that seems a little psychotic, but you might, if you're doing that right now, hey. But I would think you're doing something else. You might be in the car, you might be, I don't know, doing grocery shopping.
You might be walking the dog. You know, there's so many things. You might be working. There's so many things that people are doing. And say that someone drops off because they're getting a phone call. Or they're walking the dog, they got home. They're going to listen to the rest of it later. Just because it says that someone drops off doesn't mean that it's a drop off point exactly.
But if there's a trend in those analytics, then that's where you're going to want to change up the strategy. We've got two more. The second last one is quite an interesting one. I like AI. But I'm not hugely across it. So I don't really know how these things will work, but it is a fascinating thing to think about, and it says businesses may invest in podcast optimizations for voice search and integration with voice assistants to make their podcast easily accessible to a broader audience.
No, I don't know what that means fully. But I'm here to learn more, and I want to know more about that. And then the last one is international expansion. It says, as podcasting gains popularity globally, businesses will explore opportunities to create content for international audiences and to cater for different languages and cultures.
So to sum it up, businesses in 2023 and beyond will find podcasting to be an essential and dynamic component of their marketing and communication strategies, which... It should be already if you're doing your podcast and it will provide an effective means to connect with their target audiences, build brand loyalty and drive business growth.
It's such an interesting one. We don't know what's going to happen with podcasting. Same as we don't know what's going to happen with businesses in general. I did a co hosting episode with Darby Linden on Brand Chats and we were speaking about go to skincare and what we love, their tone of voice, things that make them special.
And something that we really were saying was she was asking if a podcast would be a right thing to do for someone like Zoe Foster Blake. and And my answer was no. The reason why I'm saying no is because she doesn't need the brand awareness. Maybe internationally, but as far as I know, she's not shipping internationally at the moment.
But in Australia, they're a well known brand. The brand awareness is there, so they don't need to, because they've got huge marketing teams with all of the ideas that they can, but if you've got a small business and one, you want to make your marketing much easier to have it as your master form of content and then trickle it down to all of your other social posts or EDMs or blogs or repurpose it to the cows come home.
Or you really want to boost your brand awareness and help make people understand who you are, what your values are, what you care about, what you stand for within your business. If you're wanting to do all those things, a podcast is perfect for your business. So I will leave all that with you. Let me know what you think of any of these things.
I'm really curious to know what other people think that their future of podcasting will look like. It's such an interesting medium of connecting with people and I think that it's not going anywhere. But what do you think? I would love you to let me know. Thank you so much for sticking around and listening to this episode.
And I will chat to you next week. Bye.
We want to say thanks so much for joining us for another good chat. We would love if you would help us with our 2023 goals to get to 100 ratings and reviews and then send this podcast on to someone who you think will love it just as much. Connect with us on LinkedIn Instagram, my good chap media. I will chat with you next week. Bye. This podcast was produced by good chat media.
