Having done 25 episodes of Wealthtech Unwrapped, we’re bringing in podcasting pro-Mike Townsend to share some tips and tricks of the trade as well as his insights into how the industry has evolved.
Mike explains that the development of digital technology has made podcasting a lot more convenient. In the past, there was a lack of tools available for podcasters to create content. Speaking from his own experience, Mike shares that he previously had to record his content over skype before depositing the audio clips into an audio software tool. With companies like Zencastr, the process is highly simplified and automated, considerably reducing the time and labour required to develop a podcast. Alongside the growth of digital technology, Mike notes that the proliferation of advertising has helped to match many podcasters with their audience. With the tracking of listenership, podcasters can conduct more intelligent and targeted advertising. This is also beneficial to the listener as they are directed to content that they gravitate towards and would potentially enjoy consuming.
When sharing about the podcasting landscape, Mike first explores the idea of the mainstream. Like other forms of entertainment like music and books, a small portion of content becomes mainstream because they are on mainstream channels. For instance, radio channels will play the same music for a given duration, becoming mainstream music. However, Mike highlights that outside of the mainstream; there are many independent music producers and authors. The same is true for podcasting content. While there might only be room for a few mainstream producers, there is a ton of opportunity for people who are domain-specific experts. He highlights how Wealthtech Unwrapped is one such example where listeners can tune in for an in-depth look at Fintech and wealth management.
Expanding further on the idea of mainstream content, Mike expresses how one does not need to be mainstream to be successful. The concept of pure listenership is not the only objective for a podcaster and many different goals can drive a podcast. Whether it be looking for sponsors, new business referrals, or simply learning things, there is a whole range of intents that motivates someone to begin podcasting. To the point of success, Mike feels that many people have been missing the mark on what makes a podcast successful. Mike believes that the content of the podcast itself should be where success and accomplishment are found. For him, the podcast is simply an excuse to have engaging conversations with unique people. At the end of the day, if a podcaster is interested and invested in the conversation, that should count as a success.
If you’re looking to begin your podcasting journey, Mike suggests that you dive right in and have fun with it. ‘Podcasting is beautiful in the sense that there is no barrier to entry.
