Marketing is the art of getting people to buy things, right? Wrong.
Marketing is really the art of promoting yourself in front of the right people to persuade them to choose your product or service over your competitors. This means you could have the best chocolate in the world, but if you’re trying to sell it as a dog treat in your local pet store, your business is unlikely to find success.
A big part of marketing is knowing what you’re selling, whom you’re selling it to, and where those people can be found.
Sometimes you’re selling a product that a lot of people need, like insurance. Sometimes, you’re selling a product that few people care about, like lie detectors. What do these two types of products have in common? Not everyone will buy it.
So, in either scenario, what’s the best way to increase the chances of someone buying your product? At the very least, you have to make sure you’re reaching the right people. Advertising on the radio or in a newspaper can be risky, because while a lot of people will hear your advertisement, it’s unlikely that many will care. This matters less if you’re selling something like insurance, but if you’re selling lie detectors every listener who doesn’t care becomes expensive because you’re spending resources on people that you will never see a return on investment from.
Even worse, with radio, the more listeners that hear your ad, the more expensive the airtime is. This means that if 5,000 people hear your ad, but only 5 of those people become customers, you’ve now paid for 4,996 people to ignore you. In contrast, if 10 people hear your ad and 5 of them become customers, you’ve sold to 50% of them and wasted fewer resources on the other 5. Which would you rather pay for?
However, reaching the right people is only part of the equation.
Every market has competitors, and one of the best ways to distinguish yourself is to create quality content for the audience that establishes you as a thought leader in your industry.
What’s one of the best ways to do this? Podcasting.
Quickly outpacing radio as the preferred audio entertainment of Americans, podcasting provides all the benefits of radio without the risks of mass marketing. Podcasts are on-demand radio shows with specific themes and online analytics that give you insight in to exactly who’s listening and where they’re located.
Give us a call at 612-272-7970 when you’re interested in knowing more about the value of adding podcasting to your marketing budget. You have a voice—let your market hear it.