Podcasting as a Marketing Tool for Small Business

Duct Tape Marketing has a post on the usefulness of podcasting as a marketing tool for small business.

The hype surrounding Podcasting, especially among early adopters and those who tried to make a quick buck, eventually led to a backlash and a subsequent hype about 'the end of podcasting'. But as the writer notes: "the usefulness as a marketing tool for the small business is better than ever."

If you have a small business, he continues, think of Podcasting as:

● A great way to feature the stories of your best customer - interview your customers and post their stories for prospects to hear. It doesn’t matter if you have a large audience for your podcast, your customers will dig the attention and you’ll get content on the fly.

● A great way to open doors - when you contact an author, industry leader, or expert of any kind with the offer to interview and feature them on your podcast, you’ll be amazed at the quality of guest you can secure and then the quality of content and exposure that can bring. If you run a print shop in the middle of Des Moines Iowa you can offer your customers and prospects access to the leading design, print and color experts from around the world - would that be valuable?

● A great way to build and solidify your strategic network - By routinely interviewing the members of your network of partners that you would like your customers to meet you can build a stronger network and make referrals to that network more easily because of the focus you can bring with an interview and audio content featured on the partner section of your site.

● A great competitive advantage - Does your competitor have an interview with the current president of your trade association on their site?

● Two for one - hold live web conferences using either interviews or presentations, record and viola, podcast episode.

From the beginning, podcasting has been a very promising component in the marketing mix. Now that the hype (either way) has died down, actual practice is finally defining the terms.

Studies: Podcast Ad Recall Rates Impressive

Advertising during podcasts has been thrust into the limelight, thanks to recently released data from a series of ad effectiveness studies.

Podcast audiences are loyal to their regular hosts and pay attention to the advertisers that support their favorite shows, according to online and podcast show network, Podtrac and TNS.

Podcasts attract niche audiences that are more receptive to the carefully targeted brands being advertised or that are sponsoring their favorite shows. So much so, the average unaided ad recall among Podtrac’s respondents was 68%. Podtrac’s CEO Mark McCrery says this is “considerably higher… than in other offline and online media.” He’s not wrong. Industry benchmarks currently put unaided recall for ads in streaming video at just 21%, mobile ads 20% and television 10%.

Some experts believe that ad recall might not be such a viable measurement of an ad's effectiveness. However, Podtrac's studies showed a "73% increase in likelihood to use or buy an advertised product which is an indication of successful targeting, the unique relationship audience members have with the hosts of today’s online shows, and their ability to quickly move audiences from awareness to consideration to purchase,” said Velvet Beard, Podtrac’s vice president of products.

So what of the future of podcasting? According to eMarketer analyst Paul Verna in his report “Podcast Audience: Seeking Riches in Niches”, the podcasting audience is set to rise 251% to 65 million in 2012. The same goes for spending which will he predicts will rise from last year’s $165 million to $435 million in the next four years.


Courtesy of Helen Leggatt - Bizreport.com

Podcasting as Recruiting Tool

A growing number of employers are beginning to use podcasts as recruitment advertising in an effort to standout and connect with the iPod generation now entering the workforce.

'Jobcasting' as it's called is a fairly new tool among corporate recruiters. Companies like Microsoft and Accenture were among the first to recognize the media as a marketing tool. Microsoft began theirs in March of 2005. You can hear several of them on the Microsoft Jobs Blog. Now a new service called 'Jobs in Pods' has become the most prominent site to hear jobcasts from employers in the US and Canada. In existence since March of 2007, the site now claims several prominent companies such as Intel Corporation, ZoomInfo.com, AT&T, Verizon Wireless among its clients.

What's unique about the service is that employers don't have to have any knowledge about actual podcasting. "We do all the work," says Chris Russell the founder of Jobs in Pods. "All the employer has to do is pick up the phone and answer the questions," he adds. Once the call is finished, the audio file is then published on Jobinpods.com and sites like Podcast.com, Blogorama and Podcast Alley. They even make their way onto a YouTube channel as videos where the audio is teamed with an image placeholder that details the topic of the podcast.

Jobcasts are also available for employers to place directly on their own corporate career site via the use of a widget or RSS feed.

Each jobcast is about 8-10 minutes long and typically discusses one job in detail or a particular career path within a department. Employers are given the questions ahead of time so they may prepare. Russell believes that podcasting is part of online recruiting's future. "Social media is taking over and employers can either embrace it or hide. Blogs, podcasts, video and social networks will soon become the candidates preferred choice of contact", he adds.

Courtesy of pr-usa.net

A Bottle of Red. A Bottle of White. And Podcasting.

The Australian wine industry has taken the hi-tech route in its communications strategy by taking the podcast path in order to educate people about its wines. And it seems to have worked. The first podcasts describing Australia's wine regions have been downloaded more than 10,000 times since being launched in April this year.

The Australian Wine and Brandy Corporation (Wine Australia) has benefited from this new media with 15 per cent of website traffic visiting the podcasts, claimed Lucy Anderson, Manager of International Marketing and Communications with the Australian Wine & Brandy Corporation (AWBC).

"Narrated by Australian wine writer Max Allen from his book Crush, Wine Australia's first series of podcasts have proved a popular addition to our marketing efforts," said Lucy, "There's nothing intimidating about it” she continued, “the use of technology in wine education makes it easy and fun for anyone that has an interest in wine and wants to learn. This is an innovation that will benefit all of the Australian wine industry as it quickly and easily facilitates knowledge transfer. "By enabling people to simply download a host of regional information and listen to it on their computer or iPod we've taken Australia's wine regions to the world. The popularity of the podcasts and flexibility of the medium has prompted us to launch a new varietal series and additional episodes of Crush. "There are now 47 episodes available with a new series of vodcasts showcasing the diversity of varietal wines from across Australia. Presented by Ben Glaetzer - one of Australia's own 'Regional Heroes' - Ben comments on how the region dictates the style of wine that ends up in your glass and then talks through the variation you might expect to find between enjoying a Coonawarra, Limestone Coast, Riverland or Margaret River Cabernet, for example."

To access the Wine Australia podcasts or multimedia files visit www.wineaustralia.com (Resources) or go to the iTunes music store and search for 'Wine Australia' or 'Regional Heroes' and subscribe for free

'BusinessWeek' Hits 1 Million Podcast Downloads

For the first time since its Web site introduced podcasts in January 2006, BusinessWeek recorded more than 1 million podcast downloads in June. Leading the way were podcasts that supplement its cover stories and its regular Q&A column "The Welch Way," penned by Jack and Suzy Welch (Jack Welch is the former CEO of General Electric). The cover stories for the month were "Hot Growth: The 100 Best Small Companies To Watch," "3M's Innovation Crisis," "The Real Cost Of Offshoring" and "Telecom Back From The Dead."

In their podcasts, the Welches discuss in lively fashion (relatively, for business reporting) the issues suggested by readers. His status as the legendary leader of GE, and her wide-ranging business knowledge--she was formerly editor in chief of Harvard Business Review--have contributed to the popularity of both the column and the podcast.

BusinessWeek has been careful to avoid some of the familiar mistakes made by magazine publishers trying to cash in on podcasts. Foremost, the podcasts typically feature new content, rather than stale retreads of the print stories.

Nor do they steer clear of personal controversy, often lacking in business journalism. Some BusinessWeek readers (and listeners) may remember that Suzy Welch was forced to step down as head of the Harvard Business Review for having an affair with her future husband while reporting on him. There's a certain appeal in hearing the voices of this famous couple as they banter about issues of the day. Done correctly, this kind of human element can be a huge boost for podcasts.

Courtesy of mediapost.com

Rainer Mueller-Mueffelmann of BASF discusses its corporate podcast with WPF

BASF, headquartered in Germany, is the world’s leading chemical company with more than 150 production sites worldwide. In December 2006, the company launched two podcasts, under the lead of the corporate PR department.

The main reasons behind the podcast project were to develop new target groups, explore new ways in reaching the public, raise brand awareness, and convey the values of the BASF.

The process from conception to launch was rapid, taking only about 4 months, with the bilingual BASF podcast launching in April 2007 (see here and here).

The podcast team is headed by Rainer Mueller-Mueffelmann, the responsible editor, who controls the realization of the podcasts. First, the team conducts research about the topics, then the script is created. Appointments with interview partners are scheduled and the interviews are recorded. The content is new and unique for the podcast, not simply repackaged material.

BASF uses an external production company, and one of the hardest parts of launching the podcast series was to select the best one, as many production companies competed for the business.

The podcast is for external communication purposes and seeks to present interesting BASF topics to the public in an informative and entertaining manner. Two different topic channels are offered: “Chemistry of innovations” in which topics of research and development are covered. “The chemistry reporter", a weekly show, is more entertaining and responds to questions of our “chemistry” everyday life. The show has educational aspects, and listeners can send their questions to a dedicated email address.

A key focus of the podcast is to make BASF more transparent. BASF is a chemical products company. Some people have reservations about such companies and one of the purposes of the podcast is to show how BASF's heavy investment in R&D touches and improves people's lives.

In terms of promotion, the BASF podcast is advertised prominently on the company websites and is registered in places such as iTunes, podcast.de and podster.de.

Listener involvement and participation is important, and BASF maintains direct communication with its listeners via the dedicated email addresses

Philip Der Sahaguian, CNET country manager for France, Discusses Podcasting with WPF

Podcasting at CNET started in the US, and then expanded to France two years ago. As an Internet company, CNET knew it should not stick to written content, but rather needed to add audio and video, given the ability of the Internet to handle all types of content. This demonstrates the CNET vision. Internet is not just another media, but rather a revolution – one that changes the old media landscape. CNET believes that we will no longer talk about radio, television and publishing, but rather audio, video and text. As a result, CNET sites cover text, audio and video on each of its sites

CNET does not differentiate between podcast, video on demand or TV. It's all just content, with CNET trying to find the best way to bring content to its audience.

CNET first decided to create podcasts sensing that its audience would like it. It started with technology news in the US and the response was incredible. From day one, CNET had thousands of users subscribing every day - 20% of which new to CNET.

Internal barriers were few, as innovation is one of CNET's core values. The costs of producing podcasts was not a factor either, nor was there much consideration given to whether the acquisition costs for new users via podcasts was cheaper than other modes of communication. The focus was on delivering the best possible content. Money was secondary.

In France, CNET's podcast activity began with ZDNet and it has been a great success. ZDNet has 75 000 listeners to each episode, which focuses on news technology for companies rather than consumer electronics news.

Where will CNET be in 10 years? It will produce text content when text is most suitable. Subscription will remain a key factor as it allows getting a better qualification of the audience and people don't have problems with subscribing to things which provide them with value

The podcast business model? Clearly advertising, but today, companies, both advertisers and advertising agencies, are not there yet. Podcasting is not popular enough and the companies don't know how to position it in their media mix - is it radio money or Internet money? So today, the ZDNet weekly podcast follows the sponsorship model and the fee charged is enough for ZDNet to cover expenses and show a profit for the activity.

At CNET we think that 2008 will be the year video advertising on the Internet takes off. Video will become a traditional format with good contents and the right context.

Phil Filleul of Sun Microsystems Discusses its Innovative MiFID Podcast with WPF

The Sun MiFID podcast is one of my favorites. Not because I enjoy listening to it, as it is targeted to a very specific group – business and IT management of banks. Not because the subject matter might interest the general public, as the podcast consists of interviews of bank managers and analysts on the subject of MiFID – a controversial and technical new Banking regulation which European banks must comply with later this year.

However, the innovative way in which podcasting is used has turned the MiFID podcast into an industry standard show, and produced significant direct and indirect ROI for the company behind the podcast - Sun Microsystems. Sun and its MiFID product line are leveraging the podcast to win many multi-million Euro MiFID deals in a very competitive environment.

At Sun, there was and is no corporate podcast or corporate podcast policy. Rather, it was an innovative third party vendor and Phil Filleul of Sun's MiFID product line that initiated the activity with a specific opportunity in mind.

Looking for ways to create quality leads for its MiFID solution, the MiFID marketing division employed several tools and had a budget for generate leads. A creative vendor pitched an interesting idea - rather than use "cold-call" marketing, why not create a MiFID interview-via-podcast series focusing on the controversies and views relating to the new regulation. The target interviewees - decision makers at the major banks who are also the decision makers in the buying process. The goal - use the interview as a way to create quality leads, gain valuable insight into customers, and position Sun as the best supplier.

Time to market was rapid, as the team was wise to identify and comply with internal policies, and use already-available budgets. Also, in order to gain credibility, it was crucial to position the podcast-series as vendor-neutral, and not just a Sun sales tool. Getting the first one or two interviews was a bit difficult, but very quickly the idea quickly caught on in the industry, with high-level management and analysts most willing to be interviewed for a podcast listened to by the industry.

The results by any measurable target were great: cost per lead, cost per quality lead, accumulate valuable customer insights and thoughts, and position Sun's solution as innovative – all this while having fun as well.

Alcatel-Lucent's Pascal Roobrouck talks to WPF about why it podcasts

Alcatel-Lucent is a multinational corporation, and Alcatel-Lucent University ("ALU") is the corporate training center, responsible for technology-supported learning. ALU uses a wide variety of e-learning tools, yet for the last year has been using podcasting to a greater degree.

There were several reasons why ALU started to look at podcasting. First, internal podcast trials demonstrated that audio provided the user with a very pleasant experience. Audio did not require the user to read text, and user feedback demonstrated that users preferred listening to reading. Also, audio training did not require the same exclusive focus that video did. People could listen to audio training, and do other things, something not possible with video. Finally, and equally as important, audio content was much easier and cheaper to produce than video.

As the podcasts were for internal use, APU encountered relatively few internal hurdles. The main initial effort was simply to define what content was suitable for the company and how to format the podcast to get people to listen to it.

After conducting various brainstorm sessions, ALU decided to start podcasting in Belgium, the country where the podcast activity started, and in Dutch, the language spoken by 1400 of the 1800 employees. Among the key topics that ALU decided to focus on were things like how to make people more aware of the company - its markets, business and products. Other issues involved improving productivity. Finally, a crucial part of the planning was how to make the podcast enjoyable so that people would listen to it. Here, ALU decided to make the podcasts somewhat underground, not following the generic "company line", as did other communication tools such as the company newsletters.

The results? Very good. More than 50% of the Dutch-speaking audience are downloading the podcast. And when management started relying on information they received in the podcast, word got out that the podcast was indeed a valuable and popular tool.

Can ALU justify podcasting in terms of ROI? Many more people are accessing the podcast than the traditional material, and the cost of producing podcasts is much less. So the answer is yes. And with core product-divisions now asking for English podcasts for their employees around the globe, it seems podcasting is indeed catching on.

The State of Corporate Podcasting

Nick Saalfeld of Wells Park Communication (Platinum sponsor of the London 'Corporate Podcast Summit' 2007), shares his thoughts on the event, what he learned and the state of corporate podcasting:

1. Clients still need education. Not on the intricacies of podcasts: I mean on the basics. Like, what is a podcast. Start there. If you’re reading this and you know that podcasting is not beholden to Apple, you’re already way ahead of the crowd.

2. The podcasting industry needs to get its head out of its arse (or ass for my US readers). I got a real sense that delegates were embarrassed because they enjoyed broadcasting so much, perhaps there wasn’t actually a business in it. There is. Enjoy. Stop worrying.

3. Some podcast companies seem to think that this is about editing or production. No it is not, and anyone who sets up a podcast agency to do production will fail. Production is a “flat-rate”, price-sensitive off-the-shelf service which someone on Elance or an outsource agency could do. The value of a podcast agency is in strategy, format development, monetization, audience engagement, ongoing maintenance of feedback loops etc. Production is not a service.

4. The excellent David Prever of BrandSpanking asked a superb question. “If a brand has £19 million to spend, how does podcasting achieve a deserving place as part of that budget”. He didn’t get a straight answer. Let me provide it. Media in the brand context is valued according to its value to the client, not the cost of production. Otherwise the people who think up slogans would charge tuppence ha’penny. Podcasting must prove its value- and do so in the context of engagement, whether to new audiences, existing customers or as a customer service tool. The metrics are currently badly argued (not non-existent, just badly argued in pitches) and we all owe it to ourselves as an industry to present our case more effectively. In the absence of perfect stats (and thank you Feedburner for improving things) I simply say to clients, start with a £20K job. If I can prove a £100k return on the metrics of the client’s choice, then we’ll start talking about a share of the £19million.

So there it is. A highly educational Summit, and let’s get our house in order!

Thoughts from the 'Corporate Podcast Summit ' in London

Just back from the event and thought I’d post some general impressions, balancing optimism and skepticism.

The event was pretty well attended, with an estimated 150 people present over the two days, mainly from the UK. As is often the case in such events, there was a definite element of preaching to the converted. There were a lot of speakers and panelists – I heard a few people place the number at 47. So 33% of the people had a business or other vested interest in the subject matter. In other words, it is happening now, it is happening big, and those companies that do not get it, well, ….

Peculiar, however, was fact that very very few big businesses (and no big media) were present to discuss what they were doing with podcasting, and how they were making money from it. Why?

That being said, there were several solid presentations from medium and large businesses that were podcasting. These presentations conveyed a very concrete analysis as to why they started podcasting, and the benefit they derived from it.

Sun Microsystems stands out with their MiFID podcast. The European financial market is being forced to upgrade their systems to comply with an EU MiFID directive. The opportunity for Sun and its competitors is huge. Competition fierce. Sun’s MiFID podcast is a vendor-neutral podcast, hosted on the Sun website, conveniently next to the Sun product whitepapers. By being neutral, the podcast hosts get to interview opinion leaders, many of them being upper management of the prospect customers themselves. The hosts gain unparrelel “inside info” that the industry can download and listen to, all which positions Sun as the market leader. Great idea.

First Direct, a telephone/internet only bank in the UK (HSBC member) launched a podcast that provides valuable financial planning information to its customers, as well as strengthens the ties between the customer to otherwise invisible bank employees.

There are companies using podcasting internally, such as Alcatel-Lucent (training).

Are businesses adopting podcasting? In the UK, slowly. Less so elsewhere in Europe. With the exception of the early-adopters, corporate podcasting must answer to the all mighty ROI analysis. Clearly, the blog + podcast combination creates a new way for companies to get a more personal message out (podcast), and create a feed-back mechanism (blog).

Is it a compelling opportunity? Like any other technology, podcasting is crossing the chasm with the early adopters and will grow.

Anita, the event was very well organized, and the presenters knew their stuff. Good job.

Monte Silver