Starting a podcast on a budget may seem impossible if you don’t know where to start. Podcasting has quickly become one of the most popular forms of social content for businesses of all sizes, but the barrier to entry can seem very high if you aren’t familiar with all the options. In this article, we will go over the benefits of podcasting for your business, the costs involved, and ways you can get started quickly without needing a big budget.
Why You Need A Podcast for Your Business
Not only is podcasting a great way to connect with your audience and build your brand, but it can also be a powerful marketing tool. According to a survey conducted by Edison Research and Triton Digital, the number of monthly podcast listeners in the United States has grown from 19% of the population in 2013 to 41% in 2021. Through the recent pandemic, we saw a surge of podcasts being created out of the need to create from home, and it has turned into an influx of new small businesses.
Podcast listeners also seem to be more engaged than with other types of content, with 80% of them listening to all or most of each episode. This demonstrates the value of producing quality podcast content for your audience and highlights the importance of incorporating it into your overall marketing strategy.
On top of engagement, podcasting has been shown to have a significant impact on consumers’ purchasing decisions. A study by Midroll found that 61% of podcast listeners reported buying a product or service after hearing about it on a podcast. This demonstrates the power of podcasting as a marketing tool and highlights the importance of businesses incorporating it into their overall strategy.
By starting a podcast, businesses can showcase their expertise and build authority in their respective industries. For example, a real estate company could start a podcast discussing the local housing market, while a restaurant could start a podcast featuring interviews with local chefs or discussing new trends in the food industry. Whatever your niche, podcasting can help you establish your brand as a thought leader and create a loyal following of listeners.
The Best Way To Create Social Media Content at Scale
One of the best reasons to start your podcast on a budget today is the social content benefits. Famous keynote speaker, marketing expert, and social media guru, Gary Vaynerchuck (AKA Gary Vee) coined the term “Document. Don’t create.” His idea is simple yet effective.
The concept here is that instead of killing time creating custom content every day, in an attempt to keep up with social media – You can take existing long-from content and repurpose it. Podcasts are great for this! Once you’ve recorded your podcast, you can convert it into different formats to increase its reach across multiple platforms.
For example, you can transcribe your podcast into a blog post, which can then be shared on your website and social media channels. This not only makes your content more accessible to people who prefer reading over listening, but it also helps with search engine optimization (SEO), as search engines can index the text content of your podcast.
Another way to repurpose your podcast is to create short video clips or audiograms, which are short audio snippets accompanied by eye-catching visuals. These can be shared on social media platforms such as Instagram, Facebook, and Twitter, and are a great way to grab people’s attention and entice them to listen to your full episode.
The Real Cost of Building Your Own Podcast Studio
Building your own multi-camera and audio podcast setup can be a costly endeavor. According to Caspian Studios in California, they have seen podcasts costing as much as $500k for a single podcast season.
The equipment needed to produce high-quality audio and video can add up quickly. For example, you’ll need multiple cameras, microphones, lighting equipment, and a way to switch between cameras or edit footage.
The cost of cameras alone can cost several thousand dollars each, depending on the quality and features. Microphones, particularly high-end ones, can also be quite expensive. Lighting equipment is another expense to consider, as proper lighting is crucial to producing high-quality video.
On top of all the equipment costs, you’ll also need to factor in the cost of your time. Learning how to operate and maintain the equipment, as well as the post-production process, can take a significant amount of time and effort. This can take away from other important aspects of your business, such as developing your product or service, managing your team, or networking with potential clients.
Additionally, getting your podcast out to the world can be quite costly, having to rely on a distribution service that can add up month after month. Many of these services are intended for production companies which can justify the cost by spreading it across multiple podcasts, while singular podcasters will find that it is much more difficult to afford.
Affordable Podcast Solutions Near You
Overall, building your own multi-camera and audio podcast setup can easily cost several thousands of dollars to start, and accrue monthly costs as well. This simply may not be attainable for every business or entrepreneur. But there is a solution! Just imagine being able to create a brand-new podcast, with consistent filming and uploading, without breaking the bank. This is where podcast studio rentals come into play!
For smaller businesses, those just starting out, or even larger businesses that simply don’t have the space to build a studio, renting a professional podcast studio like The Nevada Room at The Coop Cowork can be a more cost-effective and convenient option.
The Coop is a coworking space right here in Las Vegas, NV. that we have recently partnered with to bring our clients and businesses all over the valley an affordable podcast studio rental. You get all the perks of a coworking space, plus the expertise and equipment from an experienced marketing agency!
With our state-of-the-art equipment and professional engineers, you can focus on creating great content without having to worry about the costs and logistics of setting up and maintaining your own studio. Not to mention, you can jump right past the years of learning required to pull off a high-quality podcast shoot.
For those who still like to be hands-on but simply don’t have the space or time to set up, we also offer quick training sessions, so you can get familiar with our equipment setups and get straight to work. Simply book the room, show up, get the gear, and start filming! It’s a great way to keep costs down and have a consistent flow of content and quality with little effort.
Starting a Podcast on a Budget is Possible!
So, if purchasing expensive equipment or finding a space to build has stopped you from getting your podcast started, now you have no excuse! We offer affordable podcasting in Las Vegas, NV, for businesses of all sizes. Whether you’re just getting started or have been podcasting for a while, we have everything you need to create content that resonates with your audience.
By leveraging the power of podcasting, businesses can create engaging content that speaks directly to their target audience. Whether you’re a B2B company looking to attract new clients or a B2C company looking to build brand loyalty, podcasting is powerful… and with these affordable podcast studio rentals in Las Vegas, there is no excuse not to take advantage of this great marketing tool.
Not sure if it’s right for you? Check out this brand-new podcast shot entirely on our multi-camera system, right here in The Nevada Room!
If you are ready to start podcasting on a budget, we would love to help you. Reach out to MNGR today to get started, or simply go to The Coop Cowork’s Website and book today!