Business Idea: Podcasts

Podcasts have been popping up all over the Internet in the past year or so. I have come across podcasts on anything from the latest tech gadgets to gardening tips. With millions of listeners out there and plenty of new people listening to podcasts every single day, now is a great time to start your own podcast and make some money along the way.

So far podcasts sound pretty similar to an Internet Talk Radio Show, doesn’t it? Even though the two have many similarities, there are also quite a few differences. Podcasts are unusually not as structured as an Internet Talk Radio show. The tone of a podcast is very informal. Podcasts are usually on blogs and are also available for automatic download to your mp3 player through RSS. Podcasts also don’t have guests on every show. The host of the podcasts does a lot of the talking him or herself. Podcasts be shorter or just as long as a talk radio show, plus they can vary in length from one show to the next.

There is a little bit of both hardware and software you will need for a good sounding podcast. Podcasts are usually broadcast as mp3’s, so you need some sort of software to record your show as well as a decent microphone. Plantronics has some great mike’s available. You can either use software like Allrecorder or a complete service like Audio Acrobat that will also host your audio files for you. Having your files hosted through a service like audio acrobat has the added benefit that people listening to and downloading your podcast will not eat up your bandwidth. This may save you quite a bit of money in hosting fees. You also don’ t have to worry about troubleshooting when there is an issue with the audio files.

Let’s talk about how you can start making money with your podcast. Your two main sources of income will be paid advertising and affiliate programs. You can sell 30 – 60 second ad spots on your podcast, as well as advertising spots on the site that links to the audio file of your podcast. As far as affiliate marketing goes, you can promote related products on your website and mention them in your show. If a listener follows your recommendation and buys the product through your link you will make a commission.

Another, newer source of income for podcasts that’s starting to pop up is sponsorship. Companies will pay good money to be mentioned as the main sponsor of the podcast both on your podcast website and in the show itself. Once your podcast attracts some listeners and you start getting some publicity, it should be easy to attract a corporate sponsor. In the meantime you could contact a few small businesses in your target market that may be interested in sponsoring your podcast for a few months.

Now sit down, grab a pen and paper and come up with a great topic you can talk about for hours. Jot down a few ideas and start recording. Before you know it, your first own podcast will be up online.

Benefits of Business Podcasting

Mention podcasting and the image of someone sitting in their basement with a computer and microphone, dreaming of becoming a professional DJ, is what comes to mind for many.  It may surprise you to learn that this emerging technology is actually becoming a mainstream marketing and communication tool for businesses, with the potential to make significant contributions to the bottom line.  

Podcasting is simply the act of making radio-quality audio programs available for download through an RSS feed to a computer, MP3 player or other portable media device.  Listeners need only subscribe to a podcast once; afterwards, new content is automatically delivered to them as soon as it becomes available. With computers and portable media devices being everywhere, podcasting is a powerful tool for businesses to extend their brand, improve “customer stickiness” and increase sales and their online visibility.

Small to mid-sized businesses are known for being early adopters of cutting-edge technology because they are generally more willing to try new things that can help them gain a competitive advantage.  Business podcasting is an inexpensive, effective means for these companies to get their messages in front of potential customers, globally.  And because listeners have a vested interest – otherwise they wouldn’t subscribe to the show – delivering specific information so precisely to target audiences yields a higher ROI than any direct marketing or advertising campaign.  This unique ability has even large companies like IBM, Disney and General Motors either exploring or already experiencing the benefits of business podcasting. 

Companies are also using podcasting to streamline business processes and enhance their internal communications.  Instead of sending out monthly newsletters or conducting group training sessions, business podcasting is a more effective method for distributing and sharing information.  Simply create a podcast and your target audience can listen to the information whenever and wherever they want by simply downloading it into their portable media device. Not only does this create a more enjoyable listening experience, it’s more cost-effective and less time-consuming than the old traditional methods.

The benefits of business podcasting are still emerging; but, it’s only a matter of time before businesses leveraging this new medium become commonplace.  Inexpensive, easy to implement and greater ROI, podcasting is one of the most effective tools a company can use to communicate with potential customers and grow its business.

Avoiding the Pitfalls - Common Podcasting Mistakes

In learning anything new there is always a sharp learning curve, and you’re sure to make a few mistakes a long the way, we all do. However in an effort to save you some grief and embarrassment along the way I’ve compiled a short list of some common mistakes and how to avoid them. So read on, and enter the podcasting arena a few steps ahead of the competition.

Number One – Reading from a script. While I strongly recommend writing out an outline of what you want to cover in your podcast it isn’t necessary to read verbatim from a script. When most people try reading directly from a script they wind up sounding like Ben Stein. “Bueller?” It isn’t entertaining and you’ll lose your audience before you even have a chance to get started. So unless you have a background in acting or extemporaneous reading it’s probably a good idea to forgo the script. 

An easy solution is to make a list of talking points, note cards, or even a more detailed outline of what you intend to say in your podcast. So long as the format leaves room for improvisation it will come across as more friendly and conversational. It may take a few tries to get used to “winging it,” but you’ll sound much better. It’s still advisable to rehearse and edit your podcast whenever possible you not to the point where it sounds too scripted or contrived. 

Number Two – Sound. While not everyone can afford really slick production values it is important to appear at least somewhat professional. This means investing in a good quality microphone, some headphones, and an editing program of some sort. 

This doesn’t necessarily involve a large investment though. The mic and headphones can be obtained for a reasonable amount, and you can download a free program like Audacity which will allow you to edit your show. Audacity will allow you lay down tracks of music, edit out coughs, “ums”, or even portions of the podcast that you aren’t happy with. It’s also worthwhile to do a sound check before spending 15 to 30 minutes recording a podcast that is unintelligible. Check that the mic volume is properly adjusted and that there isn’t any background interference. 

Number Three – Infrequent episodes. No one wants to subscribe to a show if it only airs sporadically. Why? Mainly because it’s hard to get into and maintain interest in a show if it isn’t on enough to keep you engaged in the content. At the very least try to have shows broadcast ever other week if not weekly. It’s true that some shows are only released monthly but generally the more frequent the show airs the higher its ratings are. 

Number Four – No call to action. It’s rare that a listener will come to find your podcast in the context of your site. Most people will probably stumble across your podcast via podcast directory that’s why it’s important to make sure you include a call to action at the end of your podcast. The fact is that if you don’t provide a clear way for people to interact with you then they won’t. 

Number Five – No album art. This really only applies when submitting your podcasts to the various podcast directories and podcatchers. iTunes, for example, allows album art and more often than not people don't even take a second look at the podcasts without it. It doesn’t have to be anything fancy, and you can even use your logo as the album art so long as it communicates something about the podcast. 

A Brief History of Podcasting

Ever wonder about the evolution of the podcast? While podcasting is a comparatively young technology it still has a rather fascinating albeit brief history.  The background of the word, "podcast" is quite fascinating and is reflective of the dynamic nature of the Internet community.  

  

Podcasting is a term that was only coined in 2004, combining two words: iPod and broadcasting.   Ironically, this definition is somewhat of a misnomer since neither component is completely accurate.  Neither podcasting nor listening to podcasts requires an iPod or other portable player.   In fact, podcasts can be listened to on any mp3 enabled device including a desktop computer.  The name association came about simply because Apple Computer's iPod was the best-selling portable digital audio player when podcasting began.   What's more, no over-the-air broadcasting is required either.

Even the editors of the New Oxford American Dictionary jumped on the podcasting bandwagon by declaring "podcasting" word of the year for 2005.   The term was defined as "a digital recording of a radio broadcast or similar program, made available on the Internet for downloading to a personal audio player."   The word will be added to the online version of the dictionary during their next update.

The term, podcasting was coined by journalist, Ben Hammersley, and then popularized by former MTV VJ and media entrepreneur, Adam Curry.   Mr. Curry created an Applescript application that automated the process of downloading and syncing audio files to iPods.

  

Other names or alternative interpretations of the letters, "P-O-D" were proposed, the most popular of which was "Personal On Demand".   Technology writer, Doc Searls came up with this phrase back in September, 2004.  Terms such as "audio-blogging", audio magazines" and "web-casting" have also been offered to describe this unique form of media distribution. 

  

Other "pod"-derived phrases include "podcasters" (those who create podcasts) and "podcatchers" – the special RSS aggregators which periodically check for and download new content automatically. Podcatching software enables the user to copy podcasts to portable music & video players. 

The popularity of podcasting is spreading like wildfire because of the rapid adoption of MP3 players and the desire of consumers to have fresh content.   Podcasting has flourished because it gives people more control over what they listen to, and the freedom to take their programs with them with them. 

Not since blogging has a technology seemed so unexpected and been so quickly and widely adopted as podcasting. Growth in this nascent industry is expected to accelerate quickly due to the rapid acceptance of the technology by the radio broadcast industry in 2005 and Apple's iTunes distribution.    The rising popularity of podcasts is challenging conventional radio's broadcasting model.

While iTunes is less than two years old, roughly 4.8 million people downloaded a podcast in 2005, as compared with just over 800,000 in 2004.  And 11.4 million listeners are expected this year, according to research from The Diffusion Group.  Already the Apple iTunes service offers 15,000 podcasts and listeners have signed up for more than 7 million subscriptions. 

  

A study by Bridge Ratings in November 2005 with radio listeners in ten national markets showed that approximately 20% of users who have ever downloaded and listened to a podcast do soon a weekly basis. This group downloads an average of six podcasts per week and spends approximately four hours a month listening to the podcasts they download. 

This study projected even more dramatic growth in the industry in the future. According to Bridge Ratings, by 2010, podcast audience growth is expected to reach a conservative 45 million users who will have ever listened to a podcast.   Aggressive estimates place this number closer to 75 million by this date.

How does this affect you? 

With podcast listening rising exponentially, podcasts offer you a very powerful tool for promoting your products or services.   The great thing about podcasts is that they are relatively easy and inexpensive to create. Podcasting can help ensure a closer relationship with your target audiences by providing them with engaging, informative and frequent updates about the goings on in your industry. If you have a website then there's no reason you shouldn't have a podcast available as it's not difficult to set up and can bring a significant increase in traffic to your site. So in short podcasting should be a vital component of any online marketing campaign.

4 Reasons to Create Your Own Podcast for Your Business or Hobby

Podcasting is a powerful, inexpensive and easy new medium for sharing your message with a focused and passionate audience.  As a podcaster you’ll become a recognized expert in your area of interest or expertise. 

You can use podcasting to boost your credibility, build your list of customers and gain a fan base very quickly. This makes podcasting a great tool to promote a product or service. 

Here are four reasons you need to start a podcast today whether for fun or for business.

1. Become a Recognized Expert or Celebrity in Your Chosen Niche

How would you like to be recognized as an authority  in your area of interest or expertise? Podcasts are popping up all over the internet on every imaginable subject. 

But things are just getting started. Chances are you can still be one of the first to start a podcast in your chosen niche. 

You can quickly be recognized as an expert in your field. This is a powerful way to build a following or strong customer base. 

Think about when you hear or see someone on the radio or TV. They have instant credibility. As a podcaster you will enjoy the same credibility. People will value your opinion. 

You can leverage this position to influence your audience, promote yourself and even make money. If you have an audience that is interested in a specific niche, there will always be others who want to reach that audience, too. This is how you find advertisers or sponsors.

2. Quickly Gain a Very Focused Audience

With the right content, you will gain listeners fast. Not only that, but your audience is potentially worldwide. You can offer quality content to keep in touch with your customers and keep yourself, your product or your service in the front of their mind. 

Podcasting is a great way to cut through the clutter and reach your audience. This is not like the radio where your listener is waiting for something that interests him. He has chosen to listen to your podcast because it interests him.

This makes podcasts very effective for promotion, marketing and growing a focused audience.

3. Podcasting is a Convenient, Automatic and Inexpensive Way to Reach Your Audience or Customers

One reason that podcasting has become so popular is that it's automated. Listeners subscribe to your feed. This means they don’t have to remember to return your site to check for new content. When you post new content, it's automatically downloaded to your listener. 

Because listeners subscribe to podcasts, they have chosen to receive your content. They have already shown interest in your message by subscribing. In addition, a podcast does not get lost in SPAM like with e-mail. You can be sure your message is reaching a focused audience.

This means your content automatically reaches your audience without any barriers increasing the efficiency and ease of delivering your message.

Because your podcast is delivered over the internet, it's a very inexpensive means of communication. 

4. With Equipment You Probably Already Own and For Very Little Cost, Your Podcast Could be Online in Just Hours

All you need to start your podcast is a computer, a microphone and a broadband internet connection. Later, you can buy nicer gear if you want. For now you can get started with very little cost. All you need is something to say and a desire to say it. 

If you were to try and do the same thing on the radio, you would have to face all kinds of FCC regulations to learn and follow. Plus you would have the expense of broadcasting. Podcasting removes all of that cost and trouble.

With my how to podcast tutorial web site, your first podcast can be online in less than a day.

SUMMARY

Podcasting is a powerful and easy way to reach a focused audience. Whether for fun or to make money, podcasting allows you to easily reach a focused and loyal audience. You can brand yourself as an expert or celebrity in your niche. 

You can get started with no more gear than your computer, a microphone and a broadband internet connection. People could be listening to your podcast in less than a day. Make your voice heard.