Podcasting: Too Diverse To Fail?
05/11/22 • 12 min
2 Listeners
The next few months are looking pretty rough for podcasting. And just about every other industry. Historically, podcasting has proven itself to be rather resilient. But there are lean times ahead. Are you prepared?
#podcasting
Photo by Robert Bogdan from Pexels
Everything just looks... bad right now. War in Europe. A down market. High inflation. Personal liberties revoked. Even crypto is tanking. So to ask the question outright: can podcasting survive the coming storm?
Yes. But not because it's too big to fail. Because podcasting is too diverse to fail.
First, some good news: I'm stoked to welcome Tom Webster to the Sounds Profitable team. Both Tom and Bryan share in my commitment to make podcasting better, and you're going to love what we're cooking up. OK. Back to the bad news:
I don't know a single serious podcaster who isn't looking at the world around them and wondering just how their world will change in the coming months. Me included.
But I'm convinced that podcasting will survive simply because I don't see podcasting, or even podcasters, as a monolithic group. But that doesn't mean all podcasters will survive. Candidly, I think "big podcasting" will face the brunt of the onslaught, with casualties expected.
Faced with financial pressures, businesses start cutting costs. And one of the first line items to be cut is always advertising and marketing. And podcasting is often under that umbrella.
If you're getting paid to run ads on your show, you may see some of your advertisers pull back. So start having conversations with those advertisers now or your agency rep now. And be ready to be flexible and creative.
If you're pursuing paid campaigns for the growth of your show, start talking to the other shows, sites, and services you advertise on to see what their plans are. And watch your performance metrics!
If people or companies pay you to podcast on their behalf, start talking to your clients and help assuage their fears. And if you get the impression their commitment is wavering...at least you know ahead of time, right?
If you work for a company in the business of podcasting, start talking to your bosses. Don't expect the CFO to lay everything out on the table for you, but it never hurts to ask. Gently, though.
None of us know how this is going to play out. But it will play out, one way or another. Keep your eyes open. Plan for the worst but hope for the best. The coming recession won't kill podcasting, and I hope you, your show, or your services make it through to the other side.
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Sponsored by:
-----
Links
-----
- Got a podcasting service? Become a sponsor of Podcast Pontifications.
- Serious about podcasting? Join the Advancing Podcasting Community today!
-----
Podcast Pontifications is a production of Simpler Media. New episodes are released weekly, providing ideas and questions every serious podcaster should be thinking about.
It's created and hosted by Evo Terra. Follow him on Twitter for more podcasting insights as they come. Allie Press assists with the production and transcription of the show.
If you received value from today's episode of Podcast Pontifications, return some of that! We call it value-for-value and ...
The next few months are looking pretty rough for podcasting. And just about every other industry. Historically, podcasting has proven itself to be rather resilient. But there are lean times ahead. Are you prepared?
#podcasting
Photo by Robert Bogdan from Pexels
Everything just looks... bad right now. War in Europe. A down market. High inflation. Personal liberties revoked. Even crypto is tanking. So to ask the question outright: can podcasting survive the coming storm?
Yes. But not because it's too big to fail. Because podcasting is too diverse to fail.
First, some good news: I'm stoked to welcome Tom Webster to the Sounds Profitable team. Both Tom and Bryan share in my commitment to make podcasting better, and you're going to love what we're cooking up. OK. Back to the bad news:
I don't know a single serious podcaster who isn't looking at the world around them and wondering just how their world will change in the coming months. Me included.
But I'm convinced that podcasting will survive simply because I don't see podcasting, or even podcasters, as a monolithic group. But that doesn't mean all podcasters will survive. Candidly, I think "big podcasting" will face the brunt of the onslaught, with casualties expected.
Faced with financial pressures, businesses start cutting costs. And one of the first line items to be cut is always advertising and marketing. And podcasting is often under that umbrella.
If you're getting paid to run ads on your show, you may see some of your advertisers pull back. So start having conversations with those advertisers now or your agency rep now. And be ready to be flexible and creative.
If you're pursuing paid campaigns for the growth of your show, start talking to the other shows, sites, and services you advertise on to see what their plans are. And watch your performance metrics!
If people or companies pay you to podcast on their behalf, start talking to your clients and help assuage their fears. And if you get the impression their commitment is wavering...at least you know ahead of time, right?
If you work for a company in the business of podcasting, start talking to your bosses. Don't expect the CFO to lay everything out on the table for you, but it never hurts to ask. Gently, though.
None of us know how this is going to play out. But it will play out, one way or another. Keep your eyes open. Plan for the worst but hope for the best. The coming recession won't kill podcasting, and I hope you, your show, or your services make it through to the other side.
-----
Sponsored by:
-----
Links
-----
- Got a podcasting service? Become a sponsor of Podcast Pontifications.
- Serious about podcasting? Join the Advancing Podcasting Community today!
-----
Podcast Pontifications is a production of Simpler Media. New episodes are released weekly, providing ideas and questions every serious podcaster should be thinking about.
It's created and hosted by Evo Terra. Follow him on Twitter for more podcasting insights as they come. Allie Press assists with the production and transcription of the show.
If you received value from today's episode of Podcast Pontifications, return some of that! We call it value-for-value and ...
Previous Episode
PREMIUM - Podcasting: Too Diverse To Fail?
The next few months are looking pretty rough for podcasting. And just about every other industry. Historically, podcasting has proven itself to be rather resilient. But there are lean times ahead. Are you prepared? This podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacy Podsights - https://podsights.com/privacy
Next Episode
Can You Still Make A Really Big Podcast In 2022?
1 RecommendationsToday's podcast landscape is busy. So is it still possible to grow a really big podcast? Yes, but you can't rely on just good content and luck. You have to address these five realities. (And get a little lucky.)
What does it take to have a really, really big podcast in 2022? It'll take more than just making great content. It'll take more than satisfying your audience. If you're not content to let your show grow over time, you have to do more.
Sorry, there isn't an easy-to-follow recipe to creating a really, really big podcast. If there was, everyone would follow it. But I can, perhaps, help you out with the mindset it takes to have a really, really big podcast today.
Realize That Reality Trumps A BHAG
If your goal is to have the number one podcast in your category, knocking the current leader out of their position, or to just the top 10 list, do you know what it takes to get on that list? Do you know what the shows that are already on the list have done to get there?
Maybe you've set a goal of 100,000 downloads per episode so you can monetize seriously. Cool. Do you have the first idea of what you need to do to make that happen? How did other shows do it? Are you banking on luck to get you there?
Become Undeniably Unique
If you want to have a really big podcast that defines the category, it needs to be demonstrably different. You can't sit back and rely on guests or other contributors to do the heavy lifting. You have to put in the work.
And it doesn't stop with episodes. You have to ensure your undeniable uniqueness carries through to all aspects of your show: your website, your social media shares, heck even the emails you send. If that means changing how you communicate on other channels... well, that's a price to pay for having a really big podcast.
Your Angle Is More Important Than Your Topic
Why should anyone listen to what you have to say on a topic? Especially if it's a topic that already is well covered, as most topics already are. To break out, you have to develop and pursue an angle that clearly demonstrates why you and your podcast are worthy of being called the authoritative voice.
This Is Going To Cost Money So Make Sure It's Worth It
Having a really big podcast today almost certainly means putting a sizeable marketing budget behind it. And by sizeable, I may mean jaw-dropping amounts of money on each of those. What's the payoff? Before you drop $10–15K per episode to engage a top-notch production firm or spend $50,000 per month on a promotional plan, you must have clear measurement systems in place that aren't based on hope.
5. Keep Your Eye On The Prize
If you're investing seriously to get a really big podcast for yourself you need to ensure that your time and money are both well spent. If you're not seeing results quickly enough, or you're not seeing any at all, then prepare to make adjustments. Just because you put it in your plan doesn't mean it's going to work. In fact, many of the tactics and strategies you put in place won't work. So you'll have to adapt constantly.
That's what think it takes to have a big podcast in 2022. A very different list of things than what it took five years ago, I'm sure you'll agree. And it's completely disassociated from any advice that you might've received 15 years ago back when just keep plugging along was all you had to do to have a really good shot at making a big podcast.
-----
Sponsored by:
-----
Links
-----
- Got a podcasting service? Become a sponsor of Podcast Pontifications.
- Serious about podcasting? Join the Advancing Podcasting Community today!
-----
Podcast Pontifications is a production of Simpler Media. New episodes are released weekly, providing ideas and questions every serious podcaster should be thinking about.
It's created and hosted by Evo Terra. Follow him on Twitter for more podcasting insights as they come. Allie Press assists with the production and transcription of the show.
If you received value from today's episode of Podcast Pontifications
Podcast Pontifications - Podcasting: Too Diverse To Fail?
Transcript
The next few months are looking pretty rough for podcasting. And just about every other industry. Historically, podcasting has proven itself to be rather resilient. But there are lean times ahead. Are you prepared? Hello, and welcome to another Podcast Pontifications with me, Evo Terra. Everything just looks bad right now. War in Europe, the stock market in turmoil, skyrocketing inflation, rekindled assaults on personal freedoms. Heck, even crypt
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