Studies suggest that around 60% of listeners look up a product that they hear about on a podcast, and a quarter of those go on to make a purchase. That’s real advertising power.
Not only are B2B podcasts one of the most cost-effective forms of marketing, but you can also use them to generate leads for your company and to learn more about your target market.
This is most evident when you interview guests that represent your ideal prospects. Interviewing experts in your niche also builds authority, which will ultimately lead to more exposure and therefore potential revenue for your business.
Let’s take a look at the steps you’ll need to take to produce an engaging and profitable B2B podcast.
CONTENTS
- Are Podcasts Profitable?
- How to Start a B2B Podcast
- How to Plan Your Podcast
- How to Create Your Podcast
Are Podcasts Profitable?
While it’s true that podcasts are affordable, it’s never a good idea to fly blind with a new marketing medium. This is why it’s important to determine if starting a podcast is within your budget, along with how much revenue you can make from a podcast.
We have a simple formula to calculate podcast revenue:
Now, let’s put this formula into action:
How much would you make if you decided to produce a premium podcast at $3,000 per month? Let’s repeat Step 6:
So there you have it. It’s clear that a podcast can be very profitable. But which type of podcast will work best for you? Let’s take a look at your options…
How to Start a B2B Podcast
To start a podcast for your company, you first need to choose the right type of podcast. There are two main types of podcasts in B2B marketing:
- The Authority Builder is for businesses that want to generate steady lead flow and build a deep network in a niche target market.
- Top of the Market podcasts use industry-leading content to grow an audience and generate leads from that audience.
Now, let’s take a look at these two formats in more detail.
1. The Authority Builder Podcast
The goal of this style of podcast is clear from the outset: To build authority. This usually happens in a niche market.
The Authority Builder Podcast works to build authority in two main ways: You interview experts related to your niche or you interview ideal prospects.
Having an expert on your show has a dual advantage. Not only do they help you gain authority and credibility, but they also bring their audience along for the show.
On the other hand, having a prospect as a guest has simple benefits.
You get the chance to showcase your expertise, qualify guests as leads, and gain knowledge about your target market. A healthy balance between experts and ideal clients will have your podcast producing market knowledge, ROI, and authority for your business.
Some good examples of authority building podcasts include:
- Consulting Pipeline Podcast – Centers on the journey from generalist to specialist.
- High-Velocity Radio – About celebrities and top performers.
- Talk With the Top: St. Louis – Positive stories about the local business and entrepreneur community in St. Louis, MO.
2. Top of the Market Podcast
Top of the Market shows seek to reflect you as a market leader and tend to be the best option for businesses with established brand names. These podcasts will cover the state of the industry, focus on macro trends, feature well-known guests, and discuss hot topics.
The ultimate goal for a Top of the Market show is to showcase expertise, help you maximize your reach, and produce quality content. This means professional production, including post-production audio engineers, that give podcasts a clean finish.
Some examples of current Top of the Market shows are:
- Hubspot’s The Growth Show – Explains how to grow a business.
- Unbounce’s Call to Action – Shares marketing success stories.
- Copyblogger FM’s Digital Marketing and Sales Network – Discusses content marketing and related topics.
Each of these shows (and networks) features a rotating lineup of experts talking about all the topics relevant to listeners in their field.
How to Plan Your Podcast
However time-consuming and intimidating it may be, inviting ideal guests can be a win-win situation. You will both gain something valuable: For them, that will be media exposure and you, an authoritative stamp of approval.
That doesn’t make inviting guests any easier. So let’s go through an outreach plan you can put into action to invite your next guest.
Reach Out to Interview Guests
When you reach out to guests, do it four to six weeks in advance to give you enough time to follow up and schedule the recording. Once you have selected your prospect, there are four crucial steps to follow to secure your guest.
STEP 1. Start by engaging them on social media. You can retweet their Tweets, share their content on Facebook, and comment on their posts. This way, when you approach them, you will already be familiar with your prospect.
STEP 2. Once you have engaged your prospect on social media and are confident that you made an impression, it’s time to engage directly. Send them an email and compliment them on a post, telling them you’d like for them to share their views in a podcast interview. Here is an email outreach template we’ve made to give you an idea:
STEP 3. Follow up on your message and continue to engage until you get an answer. In our experience, there have been many, many times that the guest just missed the message, or forgot to send a reply. If they do respond and say yes – fantastic! If your prospect said no, find out why. They might be willing to consider this opportunity at a later stage. Also, remember that there are so many guests out there, you cannot possibly interview them all.
STEP 4. Once you’ve secured your guest, it’s important to manage expectations to ensure your guest stays on board. In the time running up to your interview, you will need to communicate:
- Recording dates and times
- Info about your online promotions (so your guest can participate)
- Questions they may need to answer in the interview
How do You Record a Podcast for an Interview?
All you need is a computer, headphones with a mic and a decent Internet connection, then you’re good to go!
In terms of recording platforms, Zoom is free and easy to use for individual tracks. More professional options would be Squadcast or Descript.
All of the above contribute to the success of your podcast, but a stable Internet connection is crucial. You wouldn’t want all your efforts to go to waste because of a connection that isn’t strong enough to hold a call. You will only know the connection is secure if you test it beforehand.
How to Create Your Podcast
Now that you have your guest, recording date, and all the equipment you need in place, you can get ready for the production and post-production of your podcast. In these last two phases, conducting your interview effectively and following efficient processes are the two key factors to bear in mind.
How to Conduct a Podcast Interview
What makes a good podcast interview? Treat the interview like a conversation with a close friend or colleague. Plus, engaging dialogue thrives on debate, as it can make for incredibly entertaining conversation.
Here are five tips for conducting a podcast interview:
1. Prepare a set of questions. This should include open-ended questions, as well as follow-up questions. If any of your interview questions have even the slightest potential to only generate a “yes” or “no” answer, scrap them from your list.
2. Minimize distractions. You might have all the right equipment to optimize sound quality, but you risk derailing the conversation if your phone starts ringing or your dog barks in the background.
3. Remember your audience. You already chose a guest and topic that is relevant to your audience – do not let the conversation drift off-topic. Keep the interview on track by always considering what your audience would like to know.
4. Let your guest do the talking. An interview allows you to bring fresh ideas and variety to your show. Avoid interrupting your guest, unless they go off-topic, go on a tangent, and/or you’re exceeding the allocated time.
5. Listen. Up your listening skills to the max to ensure you do not miss out on any opportunities to expand on or further explore any of your guest’s answers. Your guest might also cover some of your next questions in an earlier answer – by listening closely, you will avoid duplication and possible embarrassment.
Complete Your B2B Podcast
Now that your interview is done, there are two essential items to cement your podcast’s success.
It’s essential to have a professional intro and outro for your podcast. It costs about $100 to outsource, and once it’s made, you can use it for all of your podcasts.
Lastly, it’s always a good idea to add some meat to your schedule by recording some of your interviews in advance. This way, you’ll always have something to fall back on in the event of a guest pulling out on short notice.
Final Word
You should now have enough information to be able to start your B2B podcast. Your podcast will generate enough leads to see positive ROI, while building your authority!
We’ve covered all the essentials – from inviting guests to deciding on a show format, and the tools that you’ll need to make your podcast a reality. Each is as important as the next and deserves their own focus.
