Podcasts are an extremely powerful business tool—mostly because podcasting is such an intimate medium. Your voice in someone’s ear can build trust a lot faster than mere words on a page. But what does it really take for a law firm to produce a successful podcast? Do you need one?
We often get calls from law firms that think they should have some type of podcast—but most don’t understand what it would take to create an effective and engaging podcast.
This is a primer on podcasts. Keep reading to learn about the current state of podcasting, the benefits of podcasts, and a brief guide to help you decide whether your firm is ready for a podcast.
Popularity of podcasts
In 2021, there were 850,000 active podcasts with over 48 million episodes.
It’s safe to say that the market is saturated with creators! The good news is that podcasts are continuing to grow in popularity.
51% of Americans report having listened to a podcast. It’s easier than ever to subscribe to a podcast and listen while commuting, doing the dishes, or exercising.
There is a wide range of ages among podcast listeners, too. About 47% of monthly listeners in the U.S. are between 12 and 34 years old, with 35 to 54-year-olds making up 33% of listeners nationwide.
To sum up, podcasting is more popular today than it was five or 10 years ago—and experts predict that the industry will keep expanding with the support of platforms like Spotify.
Benefits of podcasts
A successful podcast could benefit your business in two key ways: brand awareness and revenue generation.
Brand awareness is critical for attorneys who want to attract new business.
Podcasting puts your firm top of mind for past clients who might subscribe to your show. Even if someone is no longer working with your firm, a useful podcast episode may inspire a former client to make a referral. Podcasts enable you to massively scale your audience without increasing your budget.
If awareness is the pretty package, then trust is the postage stamp that actually gets your message to its destination. Podcasts are excellent at building trust. By showcasing your expertise and revealing your personal side, a podcast can build trust with prospective clients, current clients, past clients, and colleagues.
There are SEO benefits to podcasting as well. Podcasts can support content marketing by bringing organic traffic to your website. The keywords used in episode descriptions, show notes, and transcripts can improve SEO. And don’t overlook the benefits of content stacking!
Revenue generation is usually only possible with highly popular podcasts, but it’s definitely worth considering the revenue that your podcast could produce. From advertisements and sponsors to merchandise and memberships, a successful podcast could generate thousands of dollars each month.
Considering the valuable benefits of podcasting, it is surprisingly easy to get started. The up-front investments are minimal and you probably already have enough material (or people in your network) to produce several episodes.
Should you start a podcast?
First, consider the intent of the podcast. If your goal is to generate new business, then think about your ideal customer personas. Does this type of channel align with them? You must find a relevant niche that aligns with your expertise and your clients’ needs.
Next, think about your capacity to execute. Podcasting requires a big time commitment. Can your business afford to invest time and money into podcasting right now? Do you have enough to talk about? Do you have a bench of experts that you can call on to join you?
Finally, let’s talk about you. Great podcast hosts must be highly knowledgeable, great storytellers, and capable of building rapport with guests on the show. Does your personality lend itself to podcast hosting? If not, could you step outside your comfort zone to strengthen that skill set?
Starting a podcast can be deeply rewarding. Podcast listeners are loyal! The intimate audio interface of podcasting creates a unique familiarity between you and your listeners. When someone likes your podcast, they are more likely to come back and listen again rather than try another podcast. This kind of community should not be undervalued.
But starting a podcast can be very challenging as well. It takes time for a new podcast to find its footing. Of the 10 most popular podcasts in the country last year, the majority of top-ranked shows had already existed for at least seven years.
Review and next steps
Although launching a podcast requires a serious time commitment, podcasts can support your business by increasing brand awareness and possibly generating revenue.
To achieve your business goals, you need a cohesive digital presence. Whether or not you decide to start a podcast, reach out to the Omnizant team. We’re a team of digital marketing experts, designers, writers, and legal professionals with a passion for helping law firms succeed.