Podcasts are a powerful platform upon which to share your stories and expertise while simultaneously building your brand and your network, however, industry experts are noting that more than half of newly launched podcasts never survive past the seventh episode [1]. In this second part of the series, we offer a roadmap for launching a podcast into the private wealth world. Drawing on our work with clients, we have identified the essential steps to launching a podcast that will take you to episode seven and beyond.
Step 1: Decide on a concept or theme
Most new podcasters veer towards a theme upon which they have existing expertise. This is certainly the right starting point, but there are two other considerations that must be factored in if you want your podcast to last into the long term. The first consideration is: what is entertaining to your audience? Carry out some keyword research into your audience and their interests, ensuring that the theme you choose is both entertaining and aligned with what they care about. The second consideration is: what is entertaining to you? Put your professional hat to one side and think about the things you’re truly passionate about. Themes that lie in the middle of this ‘venn diagram’ of expertise, passion and audience can, in our experience, lead to some of the most compelling podcast concepts in the market.
Step 2: Line up the right resources
The most successful podcasts are often fronted by a single person with a personality big enough to carry the brand. For this reason, many would-be podcasters are mistaken into thinking that a podcast is a one man or woman endeavour. The truth is, launching – and sustaining – a successful podcast is a team effort. A leading reason why so many podcasts fade away before their time is because the producers underestimate the resource requirements necessary for keeping your podcast afloat. From booking and scheduling guests, to production and editing, to marketing and distribution, it is essential to ensure you have the right support in place.
Step 3: Choose your title and branding
From a marketing perspective, podcasts are one of the hardest content types to promote due to their inherent intangibility. For this reason, the tangible elements of your podcast – i.e. its title and visuals – must carry a lot of weight. Peruse your favourite podcasts and see if you can come up with a title that is compelling, catchy, and aligned with the topic and personality of your brand. Socialise your ideas with clients and colleagues, and gather feedback. Alongside your title, your branding must also pack a punch. Your cover art is probably the first element upon which your podcast will be judged. It’s worth investing in the services of a designer with specific expertise in podcast art to help you create a visual ID that stands out.
Step 4: Build a list of dream guests
The quality of your guests determine the quality of your podcast. This doesn’t mean you should necessarily target only the most well-known or controversial names, but it does mean that you should aim for guests who have a compelling story to tell and/or are experts in their field. Make a list of some of the most interesting people you know (or would like to know) in the field, bearing in mind that a podcast is also a great networking tool for you and your brand. Your podcast is ultimately a means to generate business and there are few more compelling ways to open-up a dialogue with a dream contact or collaborator than by inviting them to share their story with your audience.
Step 5: Design your episode format, tone and structure
Planning your podcast at episode level is an opportunity to play around with different forms and structures. At this stage of the process, there is no right or wrong. Decide on a structure that feels compelling to you, and then test it. Think about whether you’d like to try your hand at the standard one-on-one interview format or the more ambitious multi-layered ensemble style podcast in which several speakers contribute to a single story. Decide on your desired episode length. Will you break between seasons? Will you batch record episodes; record them remotely? Will you publish monthly or weekly? Because it’s hard to know what format works for you until you try, at PCD Media, we work with clients on a series of dry-runs to help them identify the format that feels best for them and their team before committing to an overall approach.
Step 6: Distribution and marketing
Effective podcast marketing requires a targeted strategy that starts with seeing your podcast as the base material for a range of other content (such as blogs, social posts and graphics, videos, reels, shorts and audio grams). Finding opportunities to repurpose podcast content for other social media and digital platforms is the secret sauce for helping your audience find you. Guests are also a vital marketing channel as they can also share the episodes in which they appear, and its corresponding microcontent, with their own audiences.
Step 7: Equipment
The return on investment of a successful podcast often outweighs that of most other content formats. You can launch a podcast with very little investment up front, and start building an audience in a relatively short period of time. Here's a basic list of the kit you’ll need to get started: · a good-quality (although not necessarily expensive) microphone; · a webcam; · a quiet, well-lit room to record in; · Audio editing tool · Podcast hosting platform. If you’d like to explore how your brand could benefit from the power of podcast, PCD Media can help you. Check out our podcast 'PCDcast' on Spotify - to get more tips. https://open.spotify.com/show/5gD290dGQpbv7VYYU8iPqk?si=b2a55de077654162
[1] https://truthworkmedia.com/5-reasons-podcasts-fail-and-how-to-make-yours-a-success/#:~:text=Podfade%20is%20the%20word%20people,as%2050%25%20among%20new%20podcasts
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