Why Podcasts for Financial Advisors?
While not “new,” podcasts – like video – are achieving all-time highs in their popularity. Open any popular podcast app and you’ll see there’s a podcast topic for just about anything you can imagine and type in the search bar. So where does that mean for financial advisors?
Financial advisors are in a great position to be able to effectively join the ranks of podcasters and get their message sout to much wider audiences than ever before.
Podcasts are simple and effective. They are audio recordings that are in lieu of written content.
Of course, as with anything, there are varying levels of podcast execution and overall success. So how can you make sure your podcast lands on the over-achievement end of the spectrum? Read on for tips about how (and why) podcasting for financial advisors can help you reach your goal for a fast growing business that is based on organic growth.
Your Personality And Communication Skills Are On Display
Even more than video, high quality podcasts can become more frequent experiences for your listeners. That’s because video requires dedicated time to watch your videos. Your viewers are tied to screens that give them access to what you produced for them.. On the other hand, they can listen to podcasts anytime, anywhere. It could be said, podcasts may provide the same information, but the method for communicating the information is more convenient.
There is a good chance your listeners are doing additional tasks while they are listening to your podcasts. This is a positive not a negative because they are making connections in ways that are convenient for them. Plus the alternative may be not listening to your podcast.
Be sure to let your personality shine through. After all, that is who the investors will be dealing with after they select you. The more investors know about you the more comfortable they will be when you are their advisor.
Don’t Let A Lack Of Podcasting Experience Hold You Back
Like most new ventures, podcasting can be intimidating for financial advisors who have not used this method of communication before. From discomfort when hearing the quality of your own voice on a recording to a form of stage fright (there is no stage), people are listening to you and forming their opinions. That is better than not hearing you and not having an opinion. Plus, you will become more proficient over time.
For many well-established podcasters, their earlier recordings do not have the level of professionalism they were seeking. The lesson to be learned? The first step is the most important - getting started. Open the audio recording app on your smartphone or computer, and start talking. Even if you never use those first recordings, you have at least taken that all important first step! Your subsequent records will keep getting better as you learn the tricks of the trade.
Establish a Format
One of the most important things you can do before ever publishing your first podcast is to establish a format. For example, are you going to start with a music intro? What about an opening segment? Are you going to interview guests? Perhaps you will end each episode with the same closing line or phase.
Also, how will your content flow? Prior to each episode will you have a complete script, talking points, or will it be extemporaneous? We recommend a question and answer format with talking points in the beginning based on a very specific topic, so your audience knows what it is getting.
While there’s no one right answer, it is considered a best practice to establish one format and stick with it. This way your audience knows what it is getting before they commit time to listening to your podcast. An effective format is to tell them what you are going to tell them, tell them, and tell them what you told them. This particular format has a major impact on your listeners’ retention. This is a good habit to get into from the very beginning to stay organized and keep your episodes consistent.
Provide Quality Content – and Value
As with any digital marketing effort, there’s no substitute for high quality content. It is why people listen and what causes them to keep coming back. If you want followers you have to generate a lot of value. Every podcast should have a few “pearls of wisdom” that creates a network of listeners who follow your podcasts. While general topics can be repurposed from existing content such as blogs and videos, this may be too vague for a library of podcasts.
We can not say too often that it requires a focused approach and discipline to be successful.
Because there are no visual elements, and you’re often competing with whatever else the listener is doing (walking, driving, exercising, etc.), you must record the podcast with that in mind. Simply reading a blog post into a microphone isn’t the same as curating that content with a podcast audience in mind.
Utilize Your Existing Network to Promote
When you’re ready to launch your first podcast, don’t forget to leverage your existing digital marketing audience. You’ve worked hard to create a solid SEO strategy for your website, social media, and other online channels.
Now’s the time to use those channels to spread the word about your podcasts. Remember, it’s not likely your podcast will become an overnight sensation. Be patient and keep promoting and sharing, and that combined with quality content will be the key to success.
No matter how hard you try, there’s no getting around the importance of SEO in digital marketing, even for podcasts. That’s because in 2019, Google started indexing podcasts. Prior to this, podcasts were not being included in search results, so that was a huge step for podcasters. SEO best practices for podcasts are a bit different from traditional website SEO, so here are a few tips:
- Take advantage of the ability to upload transcripts. This will help Google analyze your content and make your podcast more searchable.
- Break your podcast episode into chapters. This not only helps Google find it but helps listeners get to the topic they’re most interested in
- Keywords are still crucial. You are missing out on a big SEO opportunity if you do not include relevant keywords in your podcast titles and descriptions.
Leverage Your Podcast as a Lead Generation Tool
In addition to providing your audience with quality content, your podcasting efforts can also be one more way to generate leads using a sales funnel approach. This can be done by adding a CTA at the end of each episode and the description. Additionally, encouraging listeners to subscribe to your podcast ensures they’ll know when you release new episodes. This is a key element for gaining popularity and building a larger following.
Create Content with Compliance in Mind
While constantly changing, compliance should always be at the forefront of any financial advisor marketing endeavor - podcasting included. Make sure you’re keeping up with the latest regulations to avoid any issues down the road that may cause you to have to do your work over again.
Learn from the Professionals
From publishing on podcast platforms to editing and formatting recordings, you may choose to leave the details to the professionals. If this is the case, look no further than a financial advisor digital marketing agency that has experience producing podcasts in your industry. You want a specialist who can produce high quality content for target markets. You can simply record the content and leave the rest to your team – from content creation and SEO to promotion and analytics tracking. Knowing you have an experienced team behind you will make the process simpler and more effective.