CORPORATE PODCASTS: LET'S TALK BUSINESS
Esther Stein PODCASTS ARE GROWING IN POPULARITY AND COMPANIES ARE LOOKING TO GET IN ON THE ACT. BUT IS IT WORTH THE EFFORT?
REPORT
According to a study conducted by Edison Research, last year 22% of Americans listened to at least one podcast per week (compared to 13% in 2016). Among those under 50, the figure rises to almost 40%, almost half of whom even listen to podcasts daily. Some fashion brands are also using the medium as a marketing channel. Take, for example, ‘True Tales of Luxury’, where host Mariella Frostrup interviews various experts on behalf of Harrods, or Chanel’s ‘3.55’, which hears from celebrities such as Pharrell Williams and Sofia Coppola. Each episode of Selfridges’ ‘Hot Air’ explores a different sustainability topic, and in
Maison Margiela’s podcast ‘The Memory of ... with John Galliano’, the designer offers up insider tales.
But many brands’ forays into podcasting come to an end after just a couple of episodes (as was the case with Asos and Marks & Spencer), exhausting either their subject matter or budget. That is why companies should be clear on their podcast’s objective before they even start. Corporate podcasts can be used for both internal and external communication. When it comes to the latter, they can help develop a brand, increase customer loyalty and ensure listeners interested in a certain topic know about your company. Managers and brand ambassadors can be introduced via an informal chat, increasing their appeal while benefitting the brand. Internally, podcasts are a useful tool for recruitment, sharing news or training staff.
So far corporate podcasts have failed to reach large audiences, and depending on the requirements, can be rather costly. Primarily, such formats are designed to establish a business’s expert credentials. That is why you should choose a topic that you are well versed in, and that both you and your employees find fascinating. To discover just what that is, Larissa Vassilian – author of the book ‘Podcasting!’ – recommends “inviting five employees from very different teams to take part in a morning of brainstorming. No ideas are off limits.” Then you can see if a suitable podcast concept takes shape. There is only one condition: it shouldn’t feel too much like advertising.
If you do decide to launch your own podcast, here are some tips. Release new episodes ideally every other week; the interview format featuring different guests each time is more engaging than a single speaker; 15-30 minutes is the perfect length; good presenters are a must (and they can be expensive!)
And if you decide a branded podcast isn’t the way to go but still want a slice of this fast-growing medium, you can appear as a guest expert on other podcasts. ‘Podguesting’ means not having to splash out on your own show and can ideally help you reach new customers. Alternatively, you can host a suitably themed podcast in your own store, like Saks Fifth Avenue: since January 2019, the muchloved ‘Where Brains Meet Beauty’ podcast for beauty industry professionals has regularly recorded its shows on the beauty floor of the luxury department store. A win for both retailer and podcaster.