Should I Start My Business Podcast?

I get this question from clients and non-clients every week. Businesses from start-ups to established corporations are often, just now, Insight-on-business-news-hour finding out about podcasting and thinking that it may be the perfect answer to an ever increasing number of media opportunities in which to connect with consumers.

The answer to the question is, as with most answers, it depends.

The number of podcasts that are now being done is stunning. Research from June of 2018 puts the number at 550,000 in more than 100 languages. That is a ton of competition but it also isn't a complete story. However, if you want to deep dive into the numbers like who listens, how often do they listen and more here is a link to PodcastInsights.com that we found to be enlightening. 

Bottom line is the people are there and they are consuming hours and hours of podcasts.  But, the question remains..."Should I start my business podcast?"

Linda  Harmon MPL Feb 2 2011I've been in this podcast/webcast world for nearly ten years. We started out in a closet at a local bar (no, really!). We put in a "studio" of sorts and I was one of 60 people doing a podcast/webcast from that location. We moved from there into a real studio and launched something called Webcast One Live. It was all years ahead of its time. 

Six years ago we launched Insight on Business the News Hour a daily business news broadcast/podcast that covers national, regional and some local business news plus long form business interviews that run between 15 and 20 minutes. So, yep, been there. Here are some considerations you've got to think about moving forward:

  • Do you really, really have something to say? - This is an important question because it's really about the long term. To simply launch a podcast and then, within two months you run out of material. Not such a great place to be.  So, be honest;
  • Do you have the talent to carry it off? - This is so critical. To just sit in front of a microphone and talk is a world away from having the talent to make it work. Talent goes to the ability to carry on the conversation, a voice that is listenable and the technical issues that go into creating a successful podcast;
  • Do you have the technology? - True you can get into podcasting pretty cheap and that's why it's attractive to some. But when you start adding up the costs and the knowledge it can get expensive. So, if you are willing to to make a commitment to and you don't mind learning and working...it can be done;
  • Do you have the time? - I do a daily business news podcast. It takes me roughly two hours to write the news another hour to record and edit and another hour to polish the finished product and start to share across multiple channels. But in our case we also do business interviews so there is another hour per interview. But if you're not doing that you can figure at least four hours a day. True you can do a weekly podcast and your time will be much, much shorter;
  • Do you know social media? - Yes, you can put your podcast up on one of many podcast platforms but how do you let people know that you exist. If there are over 550,000 podcasts out there how do you let folks know about yours?  Social media is key and you've got to not only understand it but be pretty darn good at the art of engagement;
  • Do you know how to measure and how to monetize? Measurement is sort of like the "wild west". We do track the number of downloads but some of the platforms we're on don't track them. Also, is this going to be a marketing expense or is there a plan in which you can make a little money and how do you do that?  Sponsorship? Pay to Play? If you are investing hours of your time how do you pay for it?
  • Do you have staff? - Yes, you can DIY your podcast but if you don't know how or lack the equipment and the ability to share the show you are going to have to count on hiring others. That, friends, can be really expensive and cost hundreds of dollars an episode. Who will line up guests, will you do remotes, what new items will you bring to the effort?  Us?  We find we are always evolving. 

Final thought. Podcasting is a bunch like blogging. I've known businesses and individuals that are all HOT on creating their blog for...maybe a year but then they don't see the value or the return on investment so they quit. It's taken us years to be financially secure with our format. 

Your thoughts?

 

 

 


You MUST Automate!

Long ago I stopped going to Walmart for maybe ten years. It wasn't a political thing. It wasn't about low pay, no benefits and a crummy, dirty store. Nope, it was all about the service. It was the worst. Employees that could care less, a return policy that drove me nuts...and away. I was absent a Walmart until last year when my local re-opened after spending about $2 million. So, I tried it. And, I've been back a numbeMcDonalds Kiosk April 2018r of times. It's been a positive experience.

Enter McDonald's and this crazy tale of automation.

I stopped in to pick up an egg and cheese biscuit. I don't eat bacon and sausage is out so...egg and cheese it is. I walk in, with little time to spare as I headed to my next meeting. The person who was to be working the counter was working at something else so I waited, patiently, until she spied me.

"I'm sorry I was doing something else. How may I help you?"

I'd like an egg and cheese biscuit please.

"Let's go over to the kiosk and place your order."

Uhm...no let's just order here.

As she comes out from behind the counter and marches toward the kiosk she said, "Oh, don't worry I'll help you."

I'm not worried. I'd just like an egg and cheese biscuit.

"Well, come over here and let's use the kiosk. I'll show you how. Is this to go or for here?"

It's to go.

"So, how has your morning been?"

It's been fine until I walked in here. I just want to order an egg and cheese biscuit and I'll be out of your way.

"Here is our kiosk.(She said it in almost a reverent tone.) Now, would you like me to help you?"

No. I think I can do this.

So it went. I ordered my egg and cheese biscuit under the watchful eye of the young lady "helping me". I'd call her by name but she was working under cover...no name badge.

Egg and Cheese Biscuit. No, I don't want to customize the order. Yes, I would like a drink. What kind? A Diet Coke. What size? A small. All the time pushing the buttons. Finally I had ordered by Egg and Cheese Biscuit with a small diet coke.

McDonalds Bisciut April 2018We went back to the counter, she gave me my ticket and within 90 seconds I was handed a bag by a smiling young lady who said, "Egg and Cheese Biscuit to go, sir."

Thank you.

I gathered my drink, headed out to the car. Got down the highway, opened the bag and...

Yes, there was a biscuit. Yes, there was egg. Yes, there was bacon... BACON? Did I ORDER WRONG from the blasted kiosk?

Uhm...nope as you can see by the receipt. 

I wonder if, when I take this back...and I will...If I'll be forced to visit with the kiosk or (heaven forbid!) a human?

What should have happened? Yep, she should have just taken the order. Weary.


Hobby Lobby - A Missed Opportunity - The Horses Mouth

There is a new, sort of, social media trend out there. It's where teens are flocking to Hobby Lobby stores across the country for the Hobby Lobby Challenge. What's going on?  Young people descend on the local craft centric store and then use everything from fake flowers to ferns Hobby Lobby Imageto other items as props to create Twitter, Instagram and Snapchat images. They then challenge friends and family to take up the challenge and do the same.  Cool?

Nope, Hobby Lobby staff and workers don't like it. In fact many store employees have used social media to rail against the trend.

They complain that they have to clean up and fix the shelves that some might disturb.

But..what it... What if Hobby Lobby embraced the trend, no matter how short lived. Think of the free publicity!  Hobby Lobby could:

  • Welcome teens to their store and encourage them to use their products as prop for social media posts;
  • The company could then actually re-tweet or share those images to connect with a youthful demographic;
  • Hobby Lobby could, in just a few weeks, ditch the "old school" label and become (sort of) cool...even for a short time.

What a missed opportunity. Any idea what some companies might pay to have their name shared across thousands, if not millions, of images sent to a demographic that may not mean anything today...but how about tomorrow.

It's a gift.

But then there is that horses mouth... 


QR Codes - Hello Again...

It may surprise you to know that the QR Code (you know that funny looking image you may have seen on products and print ads) has been around for a very long time. In fact it was developed in Japan back in 1994 to track automobile production. IOB QR Code

Over the years we’ve used QR Codes (QR is short for “Quick Response”) for a number of our clients. Pet food clients put QR Codes on their pet food bags that points to short videos about the product, lawn and garden clients do the same. We’ve put QR Codes on shelf tags so shoppers can access short informative videos about what they are looking at.

Sadly, the QR Code fell out of use mostly because businesses that used them didn’t tell consumers what would happen when they scanned the code and, perhaps more importantly, you had to download a QR Code Reader for your smart phone. Many consumers didn’t know that or didn’t want to be bothered.

Welcome Back!

The QR Code is back and this time it’s due to the help of Apple. If you have an iPhone and you’ve downloaded the recent IOS update you can now go to your camera, point your phone at the QR Code and the camera will recognize it as such and ask you if you want to open the website in your browser. Android phones still have not made this as part of their update but that could be coming in the near future.

Now that QR Codes can be scanned without having a special app watch for more business and marketing applications. Like go ahead and check our our daily business news radio broadcast page. 

Go ahead, give it a try!