Is It Too Late To Start a Podcast?

Ralph: 00:00:10

What's your prediction on podcasts?

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I belong to a CEO group and every week,

everyone's I got to start a podcast.

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I got to start a podcast.

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Is it too late?

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is it the right time?

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There are so many damn podcasts.

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Now, so just in our space

alone, there's like hundreds and

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hundreds of marketing podcasts.

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So it's just the reason why

we love our listeners so much

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because they're so loyal.

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But the point is where do you

think like audio, pure audio

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content and podcasting is going?

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Does it continue to?

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Thrive and survive, or is it,

that's too crowded of a marketplace?

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I think that we've been really

spoiled recently just because we say

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now it's too crowded, that's like

saying that stock is too expensive.

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back before Berkshire Hathaway

was trading it, whatever it

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is now, you know what it is?

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What is it for sure?

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Like a hundred thousand

dollars or something obscene.

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Oh my God.

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Yeah.

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Imagine the people are like,

Oh my God, it's 500 a share.

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I could never afford that.

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That's what I'm saying.

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That's what it feels like because

anytime you're looking at that graph,

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all you have to do is zoom out and

realize if it is 500, 000, when it

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was a hundred thousand dollars, people

were like, Oh my God, that's insane.

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And when it was a thousand dollars, people

were like, Oh my God, that's insane.

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So I think what's going to end up

happening inside the space of podcasts is.

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Each listener, we get 300, 000

downloads a month on this show.

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Ralph, that's unbelievable.

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That's like Madison Square Garden

times what, 12 or something?

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How many people fit in

Madison Square Garden?

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20, 000?

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30, 000?

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Is that what it is?

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So 10 Madison Square Gardens a month?

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and we look at that and we're

like, Oh, how do we get to 350?

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But, and I'm going to get

a little dramatic here,

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dude, that's 300, 000 souls.

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That's 300, 000 households.

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That's 300, 000 individual incomes.

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And so I think what will start to happen

with podcasts is instead of thinking

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in those large aggrandize numbers.

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It's man, if you're getting a hundred

listeners a month, good on you, dude.

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And that's okay.

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podcasts will continue to get more

niche down more specific, more targeted.

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And I think every HOA

should have its own podcast.

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I think every community

should have its own podcast.

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I think every boy scout troop, every

individual, Chick fil A, like it's okay

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to get that niche down and they don't

have to be daily the way that this

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is daily, but podcasts are meant for.

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Exactly this talking about specific

topics relevant to a specific audience.

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Then the question is, where's

the limit on specificity?

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And my answer is there isn't one.

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so I think podcasts continue

to proliferate, but I think the

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listenership available to Podcasts as

they proliferate, obviously goes down.

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It's the way that there used to be 10

television stations and now there's

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500, but there's still this insane

hunger for content that doesn't stop.

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It hasn't stopped.

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Yeah.

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And I think podcasting is still a

smart thing for businesses to do.

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Absolutely.

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I don't even think from an

acquisition perspective.

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I'd say go send your prospects to

your podcast after they land and then

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use that as an indoctrination method.

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it's 20, 000 people are held at the

madison square garden Which is about like

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the boston garden like td garden So that's

a lot so that we get 10x that amount every

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single month if we get 300 000 downloads

It's 15 15 times madison square garden.

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That's a ton of people you launch

a podcast, you are not going to get

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those numbers for quite some time.

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We haven't had this eight years plus, but

the point is, is we have a common friend.

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I always use him as an example.

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Like he's in the M and a

space in the agency world.

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He has a podcast.

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he just did one that

was worth over 900, 000.

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He got on a commission and you know

what he did to help bring that in?

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It was a referral, obviously, but

he had them listen to a bunch of his

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podcasts to get to know, and trust him.

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And he used it as sort of

part of his sales funnel.

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It's brilliant.

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And he probably gets.

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If he gets a thousand,

I'd actually be surprised.

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once a week, maybe a couple hundred

per episode, but the point is

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it's the right couple hundred.

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That's exactly right.

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It's agency owners looking

to sell their business.

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Second bite podcast shout

out for my boy, Todd Tasky.

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one of the guys, my CEO group asked

me about this particular subject, very

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niche related only to his industry.

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I'm like, yes, absolutely do it, You

can't give up after the third month when

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you start getting discouraged because

that's when most you can't give up.

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But at month three is

when most of them stop.

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think there is absolutely

still a market for it.

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And the niche, the deeper You go into

one specific niche, a niche of a niche.

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You can get found in all

these, podcast platforms.

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And then you become that micro

influencer we're talking about that

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people want to work with and through.

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Correct.

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And you end up, even the, thousand

listeners or whatever that Todd's

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getting, ends up being worth a massive

amount to the right strategic partner.

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absolutely.

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So when I graduated college, Berkshire

Hathaway stock was at 4, 700 a share.

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It is now at 549, 000 a share.

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think of it that way.

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are you at the early stages of podcasting?

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No.

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Are you in a mature phase?

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Maybe is it passed?

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I don't think it will.

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So yet another prediction.

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Podcast market is still a strong

way to boost your business.