You don’t need to be Joe Rogan to make money with a podcast.

TL;DR:

• Podcasts are a great way to establish yourself as a thought leader/authority in a market
• Podcasts can be used to nurture leads and eventually turn your leads into customers
• There are a number of personal developments benefits that come with producing a podcast like developing your listening skills, your ability to think on your feet, and to quickly build rapport with strangers

The Branding Deep Dive podcast launched in September 2020 with the first episode diving into the marketing strategy of Ford’s revival of the iconic Bronco.

Taking the first step and starting a podcast was the hardest part, and once we saw the benefits of having a podcast we never looked back. Here’s some of the biggest benefits we’ve seen running a podcast ourselves.

1. Establishing Yourself As A Thought Leader In Your Market

The most obvious benefit of having a podcast is that it builds your authority in the market you’re in. If you start a podcast about B2B content marketing for example, even if its just you talking about best practices without any guests, you can leverage the content to prove to people that you know what you’re talking about.

In this example, if you had a business that did B2B content marketing for clients, you can see how this would be beneficial. Educating your prospects is one of the fastest ways to build trust with them and eventually convert those prospects into customers.

2. Nurturing Leads

Google ran a study on what it takes for people to trust someone enough to make a buying decision and they coined the 7-11-4 rule. The rule states that 7 hours of interaction, across 11 touch points, in 4 separate locations before a prospect makes a purchase. What this means is that if you’re only doing one type of content on one platform, you’re leaving money on the table.

Alex Hormozi’s quick rise to internet fame and becoming a best selling author is a great example of this concept. The man shows up everywhere. He’s on YouTube, Instagram, X, Linkedin creating content, but he also has his own podcast, does guest appearances on other podcasts, has business courses online, and does live speaking events. He’s increasing the radius of how many people are exposed to his content, and also increasing the depth of the relationship they can develop with him by giving away hours and hours of his best stuff for free.

3. Personal Development Benefits

Being an entrepreneur means that you constantly have to be developing your own personal skillset in a variety of domains in order take your business to the next level. Having a podcast allows you to develop a number of important interpersonal skills that will easily translate to other aspects of business. Here are the skills that I honed the most with:

1. Building Rapport with Strangers Quickly

If you have an interview show, what usually happens is that you book the slot for about an hour and you spend the first 10 min introducing yourself and building rapport with the guest before you start recording. You have 10 minutes to break down the walls and connect so that the next 30-50 min aren’t a total nightmare.