Podcasting Can Open up Various Revenue Streams for SMEs

Even just 10 years ago, podcasts were a fringe media form. Many consumers couldn’t work out what they were – a radio talk show? an audiobook? Skip to 2021 and podcasts have gained serious ground. Covering a range of topics and genres, podcasts offer consumers media that’s ‘just right’ for them.

What has made this medium so popular is that it allows consumers an ‘on-the-go’ experience. Rather than reading the latest book or news article, consumers can listen to the audio version thereof or discussions related thereto during their morning commute. It also provides an entryway into other media forms. In fact, the podcast’s ability to interconnect other media sources and broaden listener’s interests, knowledge, and general consumption has made this medium a powerful tool for anything from sparking political debates to selling niche products.

As such, many SMEs are embracing podcasts as a means to reach their target market. Not only can podcasts help in accessing a wider audience, but they set the creators up as experts in their field, thereby bringing in more paying clientele. There’s also the added benefit of potentially monetising content through advertising or selling subscription rights. Many consumers also actively seek out merchandise from their favourite podcasters, which can help SMEs add a further income stream along with valuable branding opportunities.

The difficulty, however, can be to keep up with content creation. Many SMEs looking into harnessing podcasting in NZ have, thus, begun outsourcing such work to professional podcasting services who can help with scripting, organisation, guest bookings, and so forth. These services also often provide necessary equipment and other technical production services that are key for ensuring a high-quality end product.

Considering the number of revenue streams podcasting opens up for small businesses, it is likely that this particular medium will soon become a staple in any valuable marketing strategy.