Of the many marketing and others gROWTH tactics that can drive a business's bottom line, podcasting may not be the first thing that comes to mind. But even a cursory look at the numbers makes it clear that it could be a very real growth engine.

After all, as an entrepreneur/owner, you most likely bring real-world expertise to your niche—you have unique insights and perspectives that can provide both entertainment and useful insight to an audience—and thus generate awareness. and upsell.

A large and engaged audience

Pew Research by 2023 REVEALS that a remarkable 43% of Americans ages 12 and older listen to podcasts on a monthly basis. Statista, meanwhile, projects the number of monthly US listeners exceed 100 million by the end of 2024 and 110 million by 2029. And perhaps even more important than the size of this audience is the level of engagement this media sector commands—especially when it comes to responding to ads. Research from Spotify reveals that a stunning 81% of podcast listeners take action after hearing an ad read by the host, while 52% report that they trust advertisers approved by a podcast host more.

And, if you're not comfortable with the idea of ​​starting your own show, being a sponsor also pays off. By advertising on a podcast, you gain access to a highly engaged audience that is more likely to act than if they were exposed to your marketing through other channels.

Connected: 5 reasons why brands should consider creating a podcast

Links that lead to action

While podcasts can provide a significant boost to advertising on them, the impact is materially greater when a business actually produces a show, in part because hosts can be some of the most influential figures in listeners' lives. According to explorative from Marketing Lists, 68% of listeners feel they have a deep connection with their favorite podcast hosts. They're also more likely to say that podcasters (as opposed to social media influencers, for example) have changed their minds about topics. In fact, 75% of listeners say hosts are their most influential media figures (far exceeding celebrities in other media sectors).

Sharing your voice and experiences in this way—week after week—helps your audience feel connected on a personal level in a way that simply isn't possible with other forms of advertising. For example, according to a case study by Tamra Andres, to whom Movement Messenger The podcast now counts more than 450 episodes and ranks in the top 0.3% globally in business and confidence shows in the sector, resulting in results generated that propelled her business to six-figure revenues in 2021, and DUAL every year after that. She also cites loyal listeners as a contributing factor in her book, The Joyful Entrepreneur: Principles, Power, Presence: Inside Secrets for Blending Faith with Business(FIT Press, 2022), which hit the number one spot on the Amazon and Barnes & Noble bestseller lists.

Connected: 7 Steps to Grow Your Podcast Audience Faster

Using the platform successfully

One of the biggest advantages of podcasting is that it offers multiple routes to increase output, but to achieve maximum results, a sound strategy is mandatory, including careful consideration of the type of content that will be of greatest interest and value. Use the links to find experts who you can interview to bring unique insights, and always be aware of the kinds of perspectives and insights that only you can share.

Next, the content needs to be produced continuously. A once-a-week cadence is convenient for many brands, as it allows time to prepare between each show while becoming a regular part of listeners' routines.

By combining consistency and commitment, you build authority within a niche—can transform from an unknown to a legitimate expert—often simply by interacting with the right guests. Ideally, these people will bring their own built-in audience, many of whom will stick around and listen to future episodes. And statistics have amply proven that such young listeners are more likely to share your podcast with others in their circle.

Connected: 5 questions that separate a successful podcast from a failed one

Getting in front of a microphone to share your story, advice or thoughts on industry trends can be intimidating at first. But as many other entrepreneurs have experienced, a strong podcast can be a gateway to exposing a brand to new audiences that might never have discovered it otherwise.

Put the time and effort into producing quality, and the results will come!