Is it worth starting your own podcast?
Did Clubhouse kill the podcast craze? Are there too many podcasts for me to start my own this year? Is it worth all of the time and money to put a podcast out?
I get a flood of questions from Amplify Your Authority Inner Circle members (and of course all those great DMs on social) asking about podcasting as a viable authority boosting platform.
Podcasts continue to be a valuable platform and as a content creator or leader with a message, it’s an important authority boosting medium to get traction in your market. Yes podcasting is becoming quite popular. Even the grocery store Trader Joe’s has its own podcast. If you are going to start your own podcast, there are some key questions to ask yourself first.
Before I cover those questions, let’s look at WHY podcasting is working as an authority positioning, client attraction platform.
Podcast Growth Projections for 2021
As of January 2021, PodcastHosting.org reports there are over 1,750,000 podcasts and over 43 million episodes aired. At the end of 2019, there were 950,000 podcasts active on Apple Podcasts.
And, here are some impressive demographics about podcast listeners in the U.S. (see this article for other countries.)
- 75% of the US population is familiar with the term “podcasting”
- 50% of all US homes are podcast fans
- 55% (155 million) of the US population has listened to a podcast
- 37% (104 million) listen to podcasts at least every month
- 24% (68 million) listen to podcasts weekly
- 16 million people in the US are “avid podcast fans”
- 41% of monthly podcast listeners have household income over $75K (vs 29% for US population)
- 90% of podcast listening is done at home and 64% listen while driving
- Podcast listeners subscribe to an average of 6 shows
- Podcast listeners listen to an average of 7 different shows per week
- 93% listen to all or most of each episode
That’s a lot of podcasts, and the growth projection continues to be astronomical. Does that mean you missed the boat? Not exactly. But it does mean you’ll want to take some time to research and strategize a great podcast before you go through the time and money to get started.
I’ve had two successful podcasts over the span of eight years (Amplify Your Success Podcast is my second podcast.) So quite a few clients have turned to me to help them create a smash hit. I’ve mentored several clients through the planning-launch-delivery of a podcast and have come to realize…hosting your own podcast is not for everyone!
Podfade is real.
Podfade happens after launching a podcast and attempting to monetize it, attract clients, or achieve more visibility, the podcaster fails to see results and gives up on their show.
Doing something consistently is hard for a lot of entrepreneurs, especially when they don’t see results fast enough. If you are considering hosting your own show this year as an Authority Platform, be sure to review the signs it’s time — as well as the signs this might not be for you yet.
So before you bootstrap your way through launching a podcast, let’s look at the signs you would benefit from hosting your own podcast:
- You are driven to share a message or advice in a bigger way
- You’d like to build more influence and authority
- Audio is your thing, video is not
- You are looking for ways to connect with other influencers
- You love interviewing people (and wish you could get paid to do so)
- Your target audience listens to podcasts
Not 100% sure if hosting your own podcast is your boss move this year?
Here are a few reasons why you should hold off (and maybe just focus on sharing your message on OTHER people’s podcasts.)
- You need your podcast to bring you clients…now…and you need a faster path to profiting with your message.
- You have ZERO dollars to invest in building listeners, gaining momentum and developing leads.
- You don’t have the time or energy to consistently generate your own podcast content.
- The tech of starting and hosting your own podcast is overwhelming (and you can’t financially swing investing in a production team.)
- You are just getting started in your business and aren’t sure what your real message is.
- You aren’t sure if it’s a good move for you to host, but you want to capitalize on podcasts (guest instead.)
If you find yourself saying yes to the questions above, then it makes sense to create your magnetic message and start guesting on other people’s podcasts before you take the host position. You’ll learn a lot about show flow and the kind of host you want to be.
Now the secret to being a great guest lies in developing a compelling talk title, creating a Golden Thread with you talking points, and confidently inviting the listeners to take an action to further connect with you.
One of my superpowers is creating magnetic talks that become your #1 client attraction system — so let’s get you set up before you invest a ton of time to discover what doesn’t work! Even if you do decide to start your own podcast down the road, having a solid guesting strategy will help you build up your listenership quickly.
Avoiding the common messaging “pitfalls” will help you get a lot more traction from your podcast guesting. I’ve put together 17 of the most common mistakes people make as a guest expert in this FREE Resource.
Either way, podcasting is here to stay and there are a lot of ways to get you more visible and magnetize opportunities by sharing your message. Let’s figure out what you need to make that happen!
Before you go, tell me in the comments below what your goals are around podcasting!