Preventing Podfade and Increasing Your Podcast ROI
It’s no surprise that podcasting has exploded in recent years, with a staggering 5 million podcasts available today – up from the 2016 data of less than 350,000.
But there’s a side to this data that isn’t talked about nearly as much, and that’s what is known as “podfade.” Podfade is a phenomenon coined by podcaster Scott Fletcher in February 2005 when he gave up on two podcasts of his own. It is when a podcast releases episodes less frequently and eventually fades into obscurity.
One in five podcasts are estimated to experience Podfade – a shocking number.
Why does Podfade Happen?
You name it, we’ve heard it: lack of time or interest, losing enjoyment for the process, disappointment in not meeting goals, time management, social media overwhelm….
And while all of these are valid things to feel, they all boil down into one core issue: a lack of a focused growth strategy. When podcasters don’t have a strategy and aren’t sure how to attract and engage listeners, generate opt-ins or monetize the show, they lose their excitement to record and start looking for excuses of anything else to do during those recording slots. And then, podfade happens.
For podcasts that are supposed to support business growth goals, visibility, leads, and sales, pod fade can be detrimental. Millions of dollars are left on the table when these types of podcasts fade away. Direct program sales, advertising, and sponsorships disappear, and potential business growth opportunities are lost.
How can you Prevent Podfade of your Own Show and Increase your podcast ROI?
Podfade is solvable. It’s best if it is solved from the initial launch of the show. Podcasters often launch with all the energy and excitement in the world, but there’s a lack of education on how to grow and scale a podcast to support your business’s growth. And more times than not, the agencies they work with are solely focused on the tactical build out of the show (meaning the intro, outro, music, etc.) and not the marketing and monetization strategy as well.
Let’s start with an honest look at your current workflows for podcast growth. At Produce Your Podcast, when we do Podcast Audits or work with clients in our Growth Accelerator Program, we focus on 3 core areas:
*Visibility:
- Have you made sure that everyone from current clients, to sales prospects to referral partners know about and are listening to the show?
- How often are you doing PR initiatives, such as guesting on other podcasts, speaking on stage, etc. and inviting people back to your own show?
- Is your podcast siloed from other parts of your ‘marketing engine’ – ie. is it in your email newsletter? Your follow up emails after a new opt-in? Being shared to your sales prospects? Mentioned in your speaking appearances?
*Lead Generation:
- How many new opt-ins are you getting each month from your podcast?
- How often are your current listeners sharing your show? Have you made it a point to make it easy to share, and ask to share?
- Are you utilizing a Call-to-Action in your episodes to bring your listeners one step closer to you in your overall ‘marketing engine?’ (Check out our latest blog How to Optimize Your Podcast CTAs for Engagement and Action.)
- Are you or your sales reps actively sharing podcast episodes to new potential leads while prospecting?
*Sales:
- Are you promoting your own products and services within your show?
- Are your listeners totally clear on what you do and how you can help? If we asked them what your products are, would they be able to tell us?
- Are you inviting listeners to book consultations with you after listening?
- Have you done your research as to how sponsorships and advertisers might benefit you?
So, what do you do with all of that information above?
First, and maybe most importantly, don’t feel overwhelmed by the idea of implementing a strategy to grow your show. We encourage you to celebrate the opportunity to get better – as a podcaster and a business owner. A knowledge gap hasn’t stopped you yet in your business journey, so why start now?
So, let’s prioritize: what from the list of questions above were you able to answer confidently vs. not? Next, look at what you need to focus on from each category.
From there, work with an expert – who is well versed in the podcasting industry as well as business development – to tackle those objectives.
If this is resonating with you, we welcome you to connect with our team about our strategic support options:
Our Podcast Power Audits include a full audit of your show – from discoverability to marketing – and includes 1.5 hours of personal consulting. You will also receive a customized blueprint that will outline what you can do to take the next steps with your show in its visibility, lead generation power and sales effectiveness. Learn more here or send us a message.
Our Growth Accelerator Program (or as we call it, ‘GAP’) is a 6 month small group coaching and mastermind program designed to work with you and your show to increase your visibility and ability to attract new listeners, convert more listeners to website subscribers, and build out plans for monetization – from your own products and services to external sources like advertisers and sponsors. Send us a message if you’d like to talk about the program and if it might be right for you.
Produce Your Podcast is a premier podcast consulting, production & marketing agency. Our team of experts provides comprehensive, full service high quality solutions for B2B and B2C clients to incorporate podcasting into their overall marketing strategy. If you’re looking for a reliable partner to help launch or grow your business branded podcast and boost your sales and marketing goals, we’re here to help.
Click here to schedule a conversation with our team today. Let’s work together to create a high quality podcast that takes your business to new heights!
