The Hidden Costs of Podcasting
If your business is considering the benefits of a podcast, you may be having a number of internal conversations about the cost. And honestly, the cost of creating a podcast varies widely. For aspiring creatives who want to try their hand at the medium as a new hobby, the cost of entry is relatively low. But for brands that have an array of important factors to consider, not the least of which is the quality of the final product and how it impacts listeners’ view of said brand, the cost might entail more than meets the eye.
While we can’t give you a bottom-line number that applies to all B2B brands interested in starting a podcast, we can at least uncover some of the important items you may not have considered.
It all starts with the right microphone, and truthfully, there are a number of relatively affordable, quality USB microphones available on the market, the most common being either the Blue Yeti or Blue Snowball. But if you’re conducting an in-person interview-style show, you’re going to need multiple mics, and that’s going to require cables, pop filters, and stands for said mics, along with a mixing board to tie things all together.
But wait: now that you’ve got all the equipment, do you have a place to record? The nicest microphones in the world can’t make up for a poor recording environment. If your company doesn’t currently have a studio on hand, you’ll want to consider what it will take to soundproof a small room to ensure that you capture the best audio. For listeners, audio quality matters, and the last thing you want to do is turn people off of your brand by putting out a poor product.
Once you have everything set up, you’ll want to consider the right recording and editing software to create your show. There are free options on the market, like Audacity or Garage Band, but brands that go with a top-notch product like Adobe Audition will need to consider an added subscription cost.
Hosting and Distribution
Now that your show is recorded and edited into a final product, you’ll need to find somewhere to host and distribute the podcast. There are a number of options when it comes to hosting your show and RSS feed, including mainstays like Libsyn and Podbean. Again, hobbyists who aren’t producing regular content will benefit from lower pricing plans, but many brands creating a weekly show will benefit from enterprise plans with advanced analytics, which can run around $99 per month.
With your show now live and available on all of the top podcasting apps, you’ll want to consider how to distribute and track your show across your website, social media, and email marketing. One great tool is Chartable, which creates SmartLinks to help direct listeners to their native podcast app and then provides back-end insights into who is listening and for how long. Whatever tools you choose, you’ll want to make sure you’re tracking the right metrics for your business in order to show a solid return on your investment.
Time and Resources
This seems obvious, but it can’t be overstated. Time is money, and creating a great show takes time. Time to schedule guests, record the audio, edit the show, upload files to your podcast host, write episode descriptions, create (and execute on) a solid marketing strategy, track and measure the performance...you get the idea. There’s a lot of work to do, and it often involves more than just one stakeholder.
Because all of these tasks require different skill sets, you’ll need multiple members of your team to pull it off. If you don’t have an audio engineer currently in house or need an additional marketing analyst to help carry the load, you’ll have to make a hire. Again, more money.
Is it all worth it? We think it is! With over 48 million Americans listening to podcasts every week and more and more marketers tapping into the powerful content engine, B2B brands can’t take the decision likely and must consider the benefits of a podcast as their content flywheel. So what do you do?
If you have the budget, internal expertise, and time to invest in a quality product, you’ll want to consider taking the plunge. But consider a podcast-specific agency like Share Your Genius, which can help manage the entire process from start to finish, cover time investments like audio production and reporting, and craft a show to help you sell your story to your target audience, increase brand awareness, and guide you toward your desired ROI.