How To Know if You Should Start A Podcast in 2021
Updated: Jul 27
How does your playbook change depending on the business or creative goals? Is there a predictable ROI on podcasts? How do you measure your success (besides downloads and sponsors)? 📒
📒 Podcasting Playbook - A worksheet for coaches who are thinking about starting a podcast:
🎤 Podcasting on a Budget - A checklist for anyone who wants to build a home recording studio without breaking the bank: https://free.mizhq.com/checklist
All right, everybody today. I want to talk about something that might be on top of my mind. If you're considering starting a podcast, you might be wondering, well, everybody's starting when everybody has one. Now, is it still worth it to start a podcast in 2021? And my answer to you would be, it depends on what your goal is. So if you have a very business driven goal, which is, you know, you want to increase sales, sell products, get more clients through your podcast, relying on just the podcast is probably not the best way. There are way more efficient strategies out there. If you want to do it in a quicker amount of time, if you're trying to prioritize creative expression and you just want to build a catalog of content where over time it finds the right people, you know, you build a community around you know what you're talking about.
You find like-minded people who connect with your stuff and organically, you will get clients through that, especially if you, you know, if your business systems are structured for it. I think it's absolutely worth it. If that's the priority to start one in 2021 it's never too late to start when creativity is kind of the priority for you and building a catalog of work, earns trust. So in the end, it is going to help you execute on your goals, whether that's increasing sales, getting more clients you know, winning a deal, whatever it might be. If you have, if you've created 300 pieces of content that are valuable, that people enjoy, that really says something, it shows that you've put time and energy into building something. And it really does work for you in the background. I still have people who consume very old episodes of mine on Ms.
Unfiltered that I knew at the time kind of were timeless. The thing questions I was asking, the things I was covering in that episode was something that hopefully was going to be relevant for for years to come. Some of it is some of it isn't, but really what it did was create a documentation of me being really bad at it, starting out all the way to kind of improving, you know, with, with each episode and the shifts and evolution that I had in my goals and the things that I got involved in when after there's a bit of that you get to capture that. And, and I find that to be the most fulfilling part of it. So being able to look back on a catalog and that person does too, but being able to look back on a catalog where you're like, wow,
I put work
Into this. I'm really proud of it. It's something I feel confident. Yeah. You know it's something like if you feel like you want to explore, you enjoy the act of exploring, learning and being then basically a podcast will allow you to do that publicly. And it's a very cool thing to have a public record of your work. You know, that spans over several years and months and things like that. So that's what I would say. If you feel like you're more on the creative side you know, with building something that, that you enjoy and people connect with and, you know, it does have a wind, probably that's monetary, and I think it's still worth it to start in 2021. Now let's talk about if your goal is to be, you know generate sales and really is business focused. A lot of people ask, what is the ROI?
Do you know what the ROI is to starting a podcast? And I would say, it's not the same as it is definitely not the same as running something like Facebook ads. And then you see exactly what your cost per lead was. And can you configure it out easily, right? You it's harder to track because similar to radio I heard Gary V give this example similar to radio back in the day, people would hear it on the radio, but then they would go to Google. And so search gets the credit versus radio is what built the awareness, right? Similarly with podcasts, people are going to build a relationship with you and listen over time. And you are going to have to do a little more work depending on your systems to find out if, if people are finding you through the podcast, if they're consuming your work.
When I dig into clients that I work with, and I'm like asking about what they listened to or what they consumed with me beforehand, you get a lot of data in terms of like, oh wow, they listened to this one episode and they even referenced, they will often reference, oh, this thing that you said really resonated with me that's really cool because by the time you're on the phone with a client or it's time to close the deal, like people that you're attracting are almost ready to rock. So that's the benefit I find with the business side of things, the ROI on it really is the conversations that are started, right? And the deals that are closed closed with the help of this content. So if people are a five out of 10 in terms of reading to buy your coaching or whatever your service is, if you follow up with a piece of content, and this is something that really addresses some of the objections, they might have to getting started with you, it does it in a fun educational way.
And it makes them feel like, Hey, this would be a great decision for me, right? Let's say you recorded a piece of content like that. You could share that podcast with them, and it's not abnormal for something like that, to push somebody to an eight out of 10 in terms of getting ready to roll. Right? So that's how I would measure the ROI is the power that it has on a smaller scale in your sales process on a larger scale, if you're really trying to go for a volume it, it takes, it takes a while. So you have to buckle in, it's a long-term move. It's not something like you can start at tick-tock and explode within, you know, a couple of weeks. That is a little more rare with something like podcasts. So what I would say is, if you have other assets, bill, you have Instagram, you have an email list, you have other things you should utilize that to point people to the podcast, because it's a place you want to look at the podcast as a way to connect with your community and anybody who is involved with your business or will be involved with your business on a more intimate level.
Yeah, to me, is, is worth it in terms of starting one for business purposes is that it's a very easy shareable piece and consumable piece of content that can really push somebody over the edge in terms of getting started with you. And at the same time, if you're going to create content anyways, which you probably are to some degree doing it in a long form podcast format allows you to create clips. It allows you to repurpose it in many different ways. So I do think that intimate, I do think that being able to bottle up the energy in a room that there is with you and or another person that is super valuable and, and there will be people who go out and I had somebody the other day, when we hopped on a call who had listened to one of the episodes I had did with Dr.
John Berardi and Marcus filly. And it was one of my favorite episodes that I had done. And I had personally sent that out. There will be people who want to check out your energy before they hop on a call with you before they do business with you. And they can do that through YouTube, in a video format, right. They can also do it through an audio format and they can really get an idea. Somebody hopped on a call with me and was like, oh, I was listening to one of your clips. And it was, you had a very uplifting energy. So it made me want to hop on and talk to you. And I was like, wow, the fact that you can get that across is still crazy, right? That you can capture it and press play and relive it over and over and over again.
Right? So create that same experience. If you have a good sales system, if you have a good sales system and a funnel, then your results will be faster in terms of podcasts, growth and downloads and things like that. If you are starting from scratch completely, it's going to take longer. But the strategy for that is different. I think the strategy 2021 changes to a human, the human, you know, past like individually sharing your content with people that you've come across and doing it in a personalized way. That's going to be how you leverage a podcast to get more clients and close more deals. It's not necessarily going to be, get a million downloads and then get a sponsor. And then you monetize it through, like, that's just going to take too long. You're not going to make that much money, but the way to probably utilize it for your business is by injecting it into different parts of your sales funnel.
So I hope that helps
It, depending on what your business goal is, I hope you have an idea of whether this would be a worthwhile pursuit for you or not. Check out some helpful resources that I have in the description below. If you enjoyed this video, make sure that you like and subscribe. And if you have any questions, make sure you drop them in the comments. I appreciate you taking the time. Thank you so much for watching and I'll see you next time.
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