The Infinite Leverage of a Podcast
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The Infinite Leverage of a Podcast

An executive from a bank calls me up, eager to discuss marketing. They’re on a mission to modernize their company and are particularly intrigued by the potential of podcasts. Their main question: “How much return on investment can we expect after 10 episodes of a new podcast?”

I told them the potential is infinite, though it might not fit neatly into a TPS report. Silence followed.

Sure, you can attempt to analyze metrics like new accounts and money deposited. You can certainly track downloads, listens, customer comments, and social media views. But that’s not really what they’re after. They want to say, “We invested $10,000 and got back $23,000,” in clear, trackable terms.

That’s the wrong approach in this context.

If you want a straightforward ROI where you invest X and get back X+Y, run ads for easily tracked products.

Can Bank of America track the ROI of their stadium naming rights for the Carolina Panthers and Charlotte FC? Not exactly. They can measure brand visibility but can’t directly link it to new account openings.

So, what can a podcast offer? Leverage. And lots of it.

  • Leverage in guest relationships: Speak with people you want to connect with.
  • Leverage in audience engagement: People listen while you sleep.
  • Leverage in brand presence: Better communication, becoming a media entity, discussing crucial topics, uncovering new opportunities, and more.

That $10,000 investment could yield unexpected and invaluable returns. However, it might seem intangible for a CFO seeking clear, easy, and obvious returns. And if said CFO isn’t into such things, it’s not for them. And in this context, they would be wrong.

As an engineering client once told me—a person who loved spreadsheets and returns:

“You can’t spreadsheet this shit.”

 

Related content to The Infinite Leverage of a Podcast:

The Mind-Blowing Leverage and Return of Your Own Podcast

Creating Connections Through Stories

Creating Content Changes Lives

And more:

Stanford: Using Podcasts for Learning

The Guide to Podcasting for Business