Podcasts have become one of the chief ways to reach audiences in recent years. In fact, in 2023, 31% of individuals aged 12 and older said they listened to a podcast in the last week (up from 26% in 2022), while 42% listened to one in the past month.¹

Perhaps more compelling, 45% of listeners have household incomes of over $250,000.²

Reasons to Start a Podcast

Podcasting is an excellent way for financial professionals to expand their reach and build trust and credibility within their target markets, generate leads, and establish personal connections with the investing public.

Podcasts can be especially valuable through the inherent leverage they create; this is to say, they can reach clients and prospects even while a financial professional is sleeping or on vacation. Moreover, they can have a multiplier effect by repurposing the content in the form of 3-5 minute videos, 60-second YouTube Shorts, a blog article or two, and other video or audio communications.

Ingredients for Podcasting Success

1. Commit to being committed. If you choose to start, understand that success doesn’t occur overnight. Being consistent—sticking to a regular schedule is foundational to success.
2. Make it professional. Plan out your podcast structure. For example, there are a number of ways to approach a podcast, including an interview format, a solo monologue approach or co-hosted conversational structure. Create a discussion outline for each episode to ensure that it flows in an interesting and engaging way. Finally, be sure to practice, practice, practice.
3. Choose compelling topics and provide value … then present them in an entertaining way. Stay away from over covered subject matter. Find topics that are relevant or entertaining: top income strategies for retirees, worst financial advice on TikTok, top mistakes investors make, behavioral finance principles, etc.
4. Promote your podcast. This is not a post-it-and-forget-it endeavor. There are a number of ways to promote your podcast. For example, leverage social media and your website, and use the audience of any guests by making it easy for guests to share snippets with their audience.

Release at least three episodes at the initial launch so you can hook your audience immediately. Repurpose the podcasts and post to other platforms, like Facebook, YouTube, etc. Finally submit your podcast to podcatcher apps that can assist with discovery.

So, if you’re a natural speaker and have the commitment to podcast in a disciplined and regular way, maybe now is the time to take the leap.

Sources:

1. https://www.pewresearch.org/journalism/fact-sheet/audio-and-podcasting/
2. https://nealschaffer.com/podcast-statistics/

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