How can podcasts help businesses to beat the competition?
Last month, I answered some really interesting questions in an interview with Digiperform. This is Part 1 of a five-part series that brings those answers for you to read here on Medium.
In the days of ferocious competition, businesses are always on the lookout for ways to grow and to market their product or services. With various aspects of businesses transforming every day and changing customer requirements, new tools and strategies have turned out to be necessities to stay afloat in this highly competitive market. One of these new tools, increasingly used by businesses is podcasts. But the question is how do podcasts help businesses?
Last month, I interviewed with Digiperform, an HT Media company dedicated to training a million Indians in digital skills. The team at Digiperform gave me an opportunity to reflect on some very thoughtful questions.
I’m rehashing my thoughts here that I will like to bounce off of you on Medium. Hope you find these interesting.
Let’s begin with the question that is the title of this post
“How can podcasts help businesses to beat the competition?”
First of all, I think the best competitor for your business is you yourself. Today, it is critical to disrupting our own businesses before somebody else does it.
The only way to build a lasting business is to continuously find innovative ways to serve your users and customers well.
Think of podcasts from that lens. Podcasts have the potential to take away your users’ attention. Particularly, if you are reaching out to educated, affluent millennials.
Now, before someone else makes a podcast and captures your customers’ attention, it’s time you start your own.
Podcasting is a unique way for you to communicate with your audience.
When it comes to communications, I can’t stress enough on the importance of storytelling. It is a skill that brands of all sizes must develop.
Effective storytelling can actually be a BIG competitive advantage. This thought usually gets much less attention than it deserves, but it’s true.
Now, it so happens that not many brands are doing podcasts yet.
When a medium is that young, you have the luxury of putting out imperfect stuff. Early adopters can be patient while you improve yourself. This is as true in podcasting, if not more.
This fact makes it a perfect place to hone your communication skills. So, if “I haven’t done this ever” is holding you back, take that feeling in your mental backyard and shoot it.
Try putting out stories you think your audience will find interesting.
You can tell stories about your company.
You can tell stories about the people who are running the show.
You can tell stories of the products you are making.
You can even tell entertaining stories that just align well with your brand.
GE is a great example of the last kind of those stories.
General Electric (GE) launched an eight-episode, fictional sci-fi thriller podcast called ‘The Message’. The podcast used storytelling techniques that reminded people of the radio in the 1940s and 1950s.
It was a hit, getting millions of downloads and a shelf-full of industry awards.
Walmart’s podcast, Outside the Box, interviews entrepreneurs and innovators in sustainability, manufacturing in America and the future of work. They are building thought leadership in the industry using this content.
These are just a couple of examples of how podcasts can be used by businesses.
Find topics that relate well to your brand and then tell stories around that topic that your audience finds interesting. It builds your brand at the least and works as a powerful marketing engine at its best.
Let’s do this.
Talk to me about the business you’re running. I’ll come back with ideas for podcasts, uniquely suited to your brand.
Game on? 😉
