Audio On Demand's terrible secret...
"Are you starting an audio journey for the money...?"
The is the first question I ask people when they say "I'm going to do a podcast".
"Are you in it for the money?"
Many of them say "Yes," and unfortunately they are going to unpleasantly surprised over the next 2-3 years or longer when their audio expedition doesn't make a dime.
The audio on demand world has a secret, and it's something I want to reveal to you now.
Unless you hit it big and are prepared to invest a significant amount of time and resources into audio, your project is almost certain to fail.
There's an element of luck to every program, just as much as there can be an element of skill, and an element of investment.
So why am I telling you this?
Because I want you to get serious about the idea of making audio for your business.
Audio for your business is generally a loss-leader, especially in the early stages. Investing in equipment and consulting are of course financial aspects. There's also the time to record, edit, and actually hone the craft of making quality content. And to top it all off, unless you are a master of self promotion and already have a sizable existing audience, you'll need to pay to promote your show.
Vintage Video Podcast is a part of a focus group that Westport Studios is connected to. The host, Patrick O'Reilly, is a part of the Hollywood video and sound editing industry and puts out an incredibly quality show. (Check out their episode on The Empire Strikes Back) The host treats his show like a business and shared his balance sheet with the focus group for the month of November.
It was not a positive number.
So why do this if on the surface it looks like a poor business decision?
Because at its very core, a podcast or other piece of audio work is an advertisement for your business and your brand, whether it's a company or personal version of either.
Tracking how much brand recognition and revenue come out of it are difficult to do, because the ecosystem for this type of product is so new.
Your competitors will eventually start doing shows of their own, as will most other businesses that aren't stuck in the 1950s. Having content about your brand to consume that both educates your audience about who you are and what you do, PLUS gives them knowledge and entertainment is the new way to bring customers to your brand.
Creating audio for your business is an investment in creating a catalogue of content that builds familiarity with your brand without hard selling.
Another show that does exceptionally well in the business space is Home Building Hero, put on by my fellow Milwaukee native and all around great guy, David Belman of Belman Homes.
His show has crossed the 100,000 download mark in just under 2 years and has translated into a great lead engine for his business. He puts out a great product talking about everything from man caves to resources available to Veterans to help buy their own homes.
The amount of GIVE from his show is outstanding and is a role model for what a product like yours could be.
Want to talk more about building a show that sounds like these? Reach out to us here at Westport studios for a FREE Consult.