Starting A Podcast in 2020: Tips on Running A Podcasting Business Model
Starting a podcast can be a perfect business idea, if you are ready to take the necessary steps, as there are more technicalities to starting a podcasting business.
Podcasting is far less crowded and competitive than blogging, which means that now is perhaps the perfect time to explore this business model and get started with it. If you’re looking to start a podcasting business, then this guide will walk you through how to get started with podcasting, and the steps you’ll need to take in order to launch fully into the business.
There are currently a little over 800,000 podcasts as at January 2020, according to Podcast Insights, against over 450 million blogs available today!
The potential of breakthrough in podcasting is enormous, and it’s a relatively easy and affordable business model that affords you a way to promote a brand, connect with influencers, and showcase your expertise.
What is A Podcast?
The word “podcast” refer to an individual media file that is made available on the Internet for downloading to a mobile device or computer, available as a series, which can be received automatically by subscribers.
A podcaster is a person who creates podcasts, and it can target any market, because a podcast can be just about anything, which is up to the podcaster to determine the niche.
Generally, podcast listeners are particularly lucrative if they are more prone to e-commerce purchases, and a podcaster’s market are those who listen to the podcasts.
What You Need To Start A Podcast?
The basic requirements for a podcaster is a portable XLR recorder, an audio interface, laptop, and audio editing software which can be purchased along with the publishing software.
In all, the start-up costs should be a little under $1,000 which still falls into a low-budget business. Then you’ll need to be technically sound in the area of computer operations, and also know how to work with the various software and tools.
You can acquire the necessary skills through SeekaHost University, a digital online academy that offers access to all kinds of online courses related to eLearning. Whether you’re looking for a course about digital marketing, WordPress management, or mastering online systems and platforms.
Starting A Podcast & How Podcasting Business Work?
The major challenge for those who are interested in starting a podcasting business is the technical know-how and logistics which may seem a little overwhelming. But the following steps will enable you to start a podcast, of course, without the hassles.
1. Choose A Name & Create Your Business Website
First, you need to start by searching out a perfect domain name for your business website, which you can start from here.
And note that choosing the right name is very important, as it helps with the overall branding of your business. We recommend you read this post on how to choose a perfect domain name for your business.
Then move over to setting up a business website, as it allows your customers to learn more about your business and the services you offer.
Similar to naming your business, also name your podcast in that you want a memorable name that fully describes the nature of the content. If your podcast revolves around your current home business, you may want to include your business name.
2. What Content to Create?
Just like choosing a blogging niche, you’ll need to choose a niche that your podcast will cover. There are basically two main scenarios that you can find yourself.
Scene 1. Starting a podcast to bring in additional traffic or customers to your existing business.
Scene 2. Essentially chosen niche by you that is highly in demand and forms your business model.
The second scenario is more that you want to start podcasting as a business, with the hope to make money directly with it over time.
However, you must consider the fact that listeners typically look to podcasts for expert advice, as such choose a category that you have a reasonable level of expertise. So start by asking yourself, “What your skills are, or What are you an expert at?”
Albeit, you can start by connecting with experts in select topics that you can interview on your podcast, but only few people will turn up for this without good motivations. Otherwise, it’s pretty tough to get expert guests if you don’t already know them personally.
Most experts agree that about 20 – 45 minutes time frame is an ideal length for a podcast. While some podcasters post content daily, others post weekly. But, whether you post weekly or monthly, it is important that you know how to produce a solid and valuable show for your audience.
3. Podcasting as a Business
Nowadays, you don’t just put up crap content and hope to make a fortune off of it, those days are far gone. You need to raise a bar of high quality of great audio combined with structured, well researched, and great writing skills, that alone is guaranteed to succeed.
And to effectively compete with those already established podcasters, You’ll surely need a full armory, and top strategy to hold onto your own in a saturated digital world overflowing with great content.
You need to package your content in a way that truly reflect its quality and it needs not just reflect quality, but to actually be of high quality. It isn’t all about how you promote your podcast, or your brand, but your actual services which will make it easier if it offers a learning curve.
You need a website from which to share and promote your podcast. And many podcasters prefer WordPress in creating their business website because of availability of great podcast-related plugins.
Podcasting business is great for those who are already into public entertainment business. As a podcast creator, you can join the slew of commercial and entertainment networks, connecting with celebrities, and industry leaders.
And to be a good podcast host, you should focus on being audible and clear, not just clever. If you have a pre-existing business, then running a podcast around it can be great. Also, if you’re skilled in news gathering, and artwork, on any level of expertise, as a podcast host you are able to interview other experts in your industry.
A podcast business owner must have a niche to discuss, be very tech-savvy, and understand modern tools and entertainment angles.