- Today, 30-40% of the US population listens to podcasts.
- The conversion rate from visitor to a lead for a podcast it is 25-50%, versus a blog’s rate of 1-2%.
- 80% of podcasts die within the first 10 episodes.
In 2015, Tom began to test the idea for Interview Valet, a service that handles all aspects of scheduling interviewee’s with relevant podcasts. The feedback soon became overwhelmingly clear: people looking to guest on podcasts wanted to spend their time doing just that, so the market was there for Interview Valet to do the leg work.
“Podcasts matter because your customers matter. Marketing at its heart is starting a conversation with somebody who would be an ideal customer.”
The tools you use to share your message are just amplifiers of your creativity, your stupidity or your brilliance.
Podcasting is based around great content. With podcasts, the hosts are bringing on somebody because the host thinks this person adds value. This is why you see better conversion rates off of podcasts than other mediums.
Tom’s outlook is based on the concept that “The ordinary to you is amazing to others.” He says that we underestimate what we know and what we offer. If you’ve been through something, you have expertise in that area.
They Trust You
Tom says that he believes in the concept of only needing 1000 real fans because podcasts are so much more intimate, real and raw. People see the real you and they trust you, which is why the nice people do best in podcasting.
“The traffic from podcast interviews closes faster than other forms of traffic.”
If you’re deciding whether to guest or host your own podcast, Tom says that it doesn’t have to be either or, you can do both. However, if you are going to host your own show, you need to consider your level of commitment. Eighty percent of podcasts that die, die within the first 10 episodes because if you take a few months off, you kill your momentum.
It takes a while to get traction and it is hard work. Don’t be afraid to ask for help or outsource support in areas you don’t understand. Finding a partner who understands the business side and your strategy and your why are key. It won’t matter if you have good audio or the optimum podcast length, if you don’t have a strategy to support it.
“You understand the power of podcasts and that it is growing. So there is only one question: are your potential customers going to hear you or your competitor on podcasts?”