Multiplication can be achieved by taking an audio file (podcast episode), transcribing it, editing it for accuracy, and selecting key talking points. Next, we create what we call “content snippets.” These snippets represent bite-sized content that we can share digitally for engagement. These include audio clips, quote memes and a text-motion video. Not everyone is prepared to listen to an entire podcast episode so we multiply an advisor’s single episode into many snippets that we can now distribute every day through social media.
This is what mega-influencers do well; they multiply a single piece of content (e.g. podcast or video file) into digital sound bites. Now they are in a position to share their thought leadership with greater frequency without having to create organic content every day. This may be one of the biggest advantages of podcasting––having the ability to multiply content easily. It is an incredible advantage for micro-influencers to position them to become the local authority.
Sharing is using this new source of regular content with the audience you already have which usually happens through social media and email. It is critical to have good social media copy that gives the snippet context and includes a strong call-to-action. We write advisors’ social media posts with the mandate of being as helpful as possible and making it easy for people to experience the advisor’s expertise and share it with their network.
Boosting is about gaining exposure beyond your existing network to increase exposure and expand your audience. This is essential to expediting the impact of your podcast—growing your podcast audience and exposure. LinkedIn, Facebook, Google, Instagram and Twitter all offer the ability to fine-tune your audience. Equally powerful is using a public relations service or getting a podcast published on a web portal that the advisor’s audience frequents.
Hortz: From your experience, what have you seen as traits and/or best practices for podcast hosts in being successful in engaging their audience and building a following?
Lowe: A good podcast host meets several important criteria: Hosts need to 1) be themselves; 2) have a clear and niche expertise; 3) have an outline versus a script; 4) be a good listener when interviewing; 5) have clear and repeating sound bites (i.e. brand); 6) know their ideal audience, 7) make it fun; 8) constantly build hype about their podcast; and 9) make it highly valuable by being prepared and sharing generously.
Hortz: Any final recommendations or advice you can offer advisors on why podcasting should be viewed as a major tool or approach to use as part of their growth and engagement strategies for their business?
Lowe: Podcasting and its accompanying tactics play very well together, creating marketing efficiencies and effectiveness that most advisors have not experienced in their marketing prior—and the cost to do so is not as much of an obstacle for advisors as you’d think. Especially as the podcast can eventually pay for itself or create a valuable asset as we discussed previously.
Additionally, I think the traditional mindset that pursued lead generation has evolved into relationship engagement. Consumers are savvy, they expect you to make it easy for them to make informed decisions, and podcasting is a perfect core tactic every advisor can achieve and build on. There has never been a better way for advisors to scale their credibility in such engaging ways.
The Institute for Innovation Development is an educational and business development catalyst for growth-oriented financial advisors and financial services firms determined to lead their businesses in an operating environment of accelerating business and cultural change. We position our members with the necessary ongoing innovation resources and best practices to drive and facilitate their next-generation growth, differentiation, and unique community engagement strategies. The institute was launched with the support and foresight of our founding sponsors—Pershing, Voya Financial, Ultimus Fund Solutions, Fidelity and Charter Financial Publishing (publisher of Financial Advisor magazine).