Why Every Consulting Firm Needs A Podcast
The most popular marketing channel that 95% of Consulting firms aren't using.
Effective Digital Marketing means embracing a wide range of different mediums, but there’s one form of content we recommend above all others: the podcast.
Simply put, we think that almost every Consulting firm can benefit from producing a podcast.
In 2019, podcasts are no longer a niche interest. They are one of the most popular forms of media consumption, with an estimated 67 million regular listeners in the United States, and around 5 million regular listeners in the UK.
The popularity of podcasts might be due to people becoming tired of staring at screens, or because of the volume of high-quality content from the likes of TED, the FT and 11:FS. Whatever the reason, we are now in what Wired magazine dubbed the “golden age of podcasts”.
Why are podcasts so effective for marketing?
Audio content has one key advantage over text or video. It is a perfect accompaniment to whatever else a person is doing. That means it’s ideal for people who are short on time - your target clients, for example. In fact, recent stats from LinkedIn show that 44% of C-level execs, department heads, VPs and business owners who have heard of podcasts regularly make time to listen to them.
If your target client has a busy day, going straight from home, to their morning commute, to the office, to the gym, then back home again, it’s hard to carve out time to sit down and read a whitepaper. However, they can easily listen to a podcast during their commute, their workout, or a walk or train journey between meetings.
These occasions - commutes, working out, travelling - are usually times when the listener is less likely to be distracted or interrupted. You can have their full attention for a solid period of time. That’s what makes podcasts so powerful from a marketing point of view.
Producing a podcast will also help to build massive social proof for your firm. Although they are relatively easy to make and release, there is still a certain aura to making a podcast, in the same way that there would be if your firm published a book, for example. A podcast - particularly a polished, well-produced podcast - is a high credibility sign of authority to your audience.
As well as this there are a ton of benefits that accrue purely from the podcast production process itself. An invitation to a podcast interview or panel interview can be a perfect excuse to reach out to a new target client, ask your network for introductions, or re-connect with people you’ve worked with in the past. Sitting down with a target client for a 30 or 60-minute interview gives you a chance to build real rapport and create a lasting positive impression, at minimal cost.
Podcasts can also be a powerful tool when it comes to recruitment. They’re a simple way of making sure that more people know about your firm, are exposed to the sorts of ideas and work that your firm is involved in and understand the ethos and culture of your firm. That can be a huge asset when it comes to finding talent.
Before you grab a microphone and hit record, you should "start with the end in mind". Think about what you want to get from your podcast - for example, increased brand awareness and conversations with new clients - and how what you do is going to be different from what’s out there already.
Different doesn’t mean crazy, it just needs to be unique enough to pique the interest of your prospective guests and your listeners.
For example, if your firm specialises in organisational design and people change, could you create a podcast focused on sharing expertise and insight on this topic. If you are a firm that specialises in a particular industry, could you create a podcast that focuses on the latest issues or cutting edge innovation in that vertical (for a great example of this see the FinTech Insider podcast by 11:FS).
Once you know what you want to achieve from your podcast and how you’re going to position it to be different from what’s already out there, you should then brainstorm the first 5 - 10 episode ideas, including any prospective guests you could ask to interview.
If you’re struggling to get inspiration for episodes, then ask yourself:
Could we turn any of our current written or video content into podcast episodes?
Are there any recent trends or events in our industry that we could give a unique perspective or insight on through a podcast?
Who are the people in our vertical/horizontal that would be interesting to talk to? Can we interview them?
Could we ask our Partners to debate an issue and record that for the podcast?
Now you’ve got your episode ideas and prospective guest lists, you can start reaching out to them and getting your questions ready.
If you want to hear some examples of what different interview formats can sound like, we’d recommend checking out:
You’ll find that a podcast has the power to generate leads, build social proof and credibility, and help your firm to develop crucial connections and relationships in a way that blogs or whitepaper never will.
Podcasts are a rapidly growing medium and a perfect way to reach your target clients at times when other forms of media are unsuitable.
Podcasts build trust, demonstrate your expertise and clearly show your target clients that you are embracing innovation.
Creating your own podcast also generates real benefits in terms of making new connections and strengthening existing connections, as well as recruitment.
You can start small and simple with conversations between partners, for example.
If you want to develop a Digital Marketing strategy that drives results for your Consulting firm, feel free to get in touch - we’d love to talk to you!