Is Podcasting Worth My Time?
We're constantly asking one question all day long. Is it worth it? Is it worth it to:
Run this light and get a ticket?
Workout an extra 5 minutes to eat a cookie tonight?
Call that prospect one more time and risk total rejection again?
It's completely natural and wise to ask if podcasting is worth the time, money, and opportunity cost. So I'll share my thoughts. Now, keep in mind, this isn't meant to be an article to persuade you. I'm writing this based on my own experiences and the experiences I've seen with other hosts and shows we've worked with.
Is It Worth Building The Relationships?
You might be reading this as you're facing the bright future of having a deep wealth of relationships in your industry. Still, no one can say they couldn't benefit from having stronger relationships and exposure to new opportunities. As an entrepreneur, there's nothing more fun than hearing from a new prospect or someone interested in your brand. It's just exciting.
Having a podcast can be the warmest entry point for building new relationships. There is still something novel about podcasts and videocasts. When you ask someone to be on your show, it's typically received pretty well, even if you have a small show. Not many platforms are like that. If you asked a big guest to be featured on your blog, you might have to send that email 5 or 6 times. And they miiiiiggghttt say yes, but then they will probably cancel when it's time. Podcasts aren't like that. People love being featured because it's still a new and ever-growing platform. As well it's super easy to share about being on your show.
Speaking from first-hand experience, the access I've gained to incredible people through podcasting has been an enormous gift. So many leaders and key relationships that would have been devastatingly hard to cultivate in other ways felt effortless by simply asking that leader to be featured on a podcast.
Prestige
You're more likely to find that prospects pick up the phone or email you back more readily, knowing that you have the show in the first place. There's a layer of prestige that comes from having a podcast. It elevates you in the mind of others and certainly in your industry.
It also shows you care. Mainly through the interview format, you'll be able to show how you're trying to learn and grow through your guests. It demonstrates how you're pushing yourself.
Future Opportunities
Podcasting allows you to have a platform that connects you to other unexpected opportunities. This is, sadly, one of the double-edged swords of podcasting. One of the main reasons so many walk away from a podcast is that they grow into incredible opportunities. So many times, we've seen key relationships align through podcasting.
One particular company we've worked with has seen explosive growth through its main lines of business by simply interviewing other industry leaders. It's led to reselling products, redistribution, and referrals that have more than paid for any costs they've accrued from our services.
You said you'd be unbiased? Liar!
I told you I'd try to be unbiased, but I think I've failed a bit so far.
I've only told you the good things.
Let me unpack the potential ways it might NOT be worth it.
We do know businesses and entrepreneurs who are too busy. They seriously do not have 30 minutes to do an interview, nor do they want to spend time preparing or pulling in their team to help push the episodes. That's completely cool. I have a hard time relating, but I do know these people.
For some, being known as a thought leader in their industry is just not important. For example, I have a friend who runs a wildly successful insurance agency, and he gets all of his work from referrals. Having a podcast would not help him at all. He likes being behind the scenes and running a small operation — podcasting is NOT worth it for someone like him.
We have also worked on shows that are heavily regulated and have entire compliance teams to make sure they're staying above board. While not impossible, if you're in a heavily regulated industry, it may not be worth pulling more time from your team to make sure every word you say is approved.
"Is it worth it?" is a tricky question to answer. Every business and season of business is different and unique. I hope this article helped you better answer the question if podcasting is worth it to you. If you’d like to discuss further, please shoot us an email - we’d love to help you walk through the pros and cons of podcasting.