Podcasting Is Set to Be a Key Part of Future IR Communications—How Do We Adapt?
Ready to take your Investor Relations to the next level? Our latest module explores the power of podcasts in IR. Learn how to use this dynamic medium to engage your audience, share your company's story, and drive investment.
Each year, podcasting proves to be even more essential as a marketing tool across all sectors—and it’s becoming even more of a must-use in one sector:
Investor relations.
By 2024, podcasting is slated to reach a $4 billion valuation as it reaches an exponentially-larger user base and more digital natives become aware of its ability to convey valuable information and compelling narratives with greater convenience. With this growing market size comes a surge in opportunities to reach larger audiences—and the same applies to the investment market.
As investor communications becomes more influenced by the advent of digital media, podcasting proves itself to become an even better fit in the strategies of IR professionals looking to correspond with more demographics. And with the medium’s ability to clearly communicate key messages and articular relevant retails, it’s definitely a tool worth adding to your marketing strategy.
However, two questions come up with all of this considered:
- What makes podcasting a pivotal force in the future of IR communications—and, more importantly;
- How can you best adapt and incorporate it into your strategy for the best returns?
Like investments, the idea of using podcasting for IR communications begs the consideration of getting the biggest ROI in both the short and long-term. And for seasoned IR professional and podcaster Julia Stoetzel, this boils down to one thing:
Knowing all the must-consider details when it comes to podcasting for investor relations—especially when it comes to the benefits and pitfalls.
Recently, Julia covered the utility of podcasting for better IR communications in a Juniversity module, delving into the statistics that support its eventual essentiality, its strongest points, and the warnings that come with it. She also covers the most crucial tips and approaches IR professionals should keep in mind when crafting strategies that best utilize this increasingly-effective medium.
Here are some of the most important takeaways from the episode:
1. Podcasts are one of the most accessible tools IR professionals can use because of how cost-effective starting one is. And while it’s clear that effective marketing strategies require a sufficient amount of time and monetary expenditure, this medium provides a more sustainable and scalable route towards communicating to a broader range of investors.
Julia expresses this sentiment in the module, saying:
“So, [podcasting for IR is] very cost effective and it requires really minimum equipment. It's really just about a good microphone and an editing software as well as a recording software. And lastly, the last benefit is that you have measurable results similar to social media, you can actually track the results, you can track downloads, you can track the demographics of the listeners, which helps you to optimize later in later episodes and it really helps you to design your investor relations program more effectively.”
With the help of a podcast, you’ll be able to expand your message’s reach and catch the attention of more potential connections without taking a significant toll on your budget.
2. If you’re looking for a more accessible and engaging way to reach out to a wider range of potential investors, podcasting can help you close the gap with greater convenience. With millions of listeners in every niche, this medium opens up more opportunities to connect and attract investors and leads looking to learn more about what you’re offering—as Julia says:
“We have some extra benefits [when it comes to using podcasts for investor relations]. So one being the accessibility, right? You have the chance or people love using podcasts because you can listen to it at any point in time, especially when you're actually busy with something else that you don't like to do. So that means if it's like kind of this dead time, you're like in the car driving, you are waiting for the bus. There's actually already a lot of corporate podcasts out there, so it's also a chance for companies to promote themselves in a very subtle way to getting into your audience ears in a very emotional and intimate way. So I think that's amazing. So people do listen to podcasts on top of using all of the other media because it's so convenient.”
Need to add more accessibility to your IR communication strategy? Building a podcast and incorporating it into your overall approach can help improve matters in that aspect.
3. In this digital age, podcasting stands as one of the fastest-rising mediums with one of the biggest shares in the online space—making it an optimal choice for any IR professional looking to adapt and get ahead. With more investment-conscious listeners flocking to the world’s most popular streaming platform, starting a show provides an opportunities to connect with potential clients and investors where you’ll find them more often.
Here’s what Julia has to say about this:
“Podcasts [are] a growing medium. So as opposed to TV and news and magazines, podcasts as well as social media is a growing medium. And this is good because why is this good? Because if you're jumping on that podcast train now, you're more likely than not to get a broader audience engaged in your content. Because if you're doing this already when a market is saturated, you need to essentially take audience from someone else away, which is harder than convincing new audience that come onto the medium in general to follow your podcast.”
With the help of podcasting, you’ll better adapt your IR communication strategy for more consistently-high returns in the future.
4. One of the biggest hurdles IR professionals need to be aware of when dabbling into podcasting is the lack of control that comes whenever guests go off script and divulge sentiments that may reflect negatively in the investor space. Speaking from personal experience, Julia sheds light on this must-know pitfall:
“[One of the risks of podcasting for investor relations] is lack of control, potentially. So in a podcast it's very unlikely scripted. I mean some podcasts are scripted. But I made the experience that usually you get maximum the questions up front. So you cannot also really script out a conversation. That's the beauty of a podcast, right? That you have a conversation that feels intimate and personal and the audience feels and that's why investors also do like podcasts a lot. And I know that a lot of investors are actually listening to podcasts of the companies they're covering because people feel, yeah, it feels more intimate, it feels like a conversation between you and the moderator or you and a colleague or friend, whatever. And so sometimes you give a little bit more information than you would give in a press release, for example. So again, this should not be any inside information.”
Before you start recording episodes, ensure that your brief your guests on crucial guidelines—and it also helps to proof-hear your episodes before you publish them to ensure that nothing detrimental to your brand is omitted.
5. Starting and growing a podcast that can take your IR efforts to new heights has much to do with ensuring that what you put out is on-brand—so ensure that your show fits your corporate identity well. With a more consistent brand identity in your shows, you’ll ensure that your podcast best represents you firm and is easier to for listeners to recognize.
Julia expresses the importance of consistency in podcast brand identity in the module, saying:
“[When you’re podcasting for IR,] you have to have consistency with your brand. So the podcast needs to fit your corporate identity, needs to fit the way the company is communicating across all other channels. And this could sometimes be a bit more tricky because again, if people are having a conversation, it's very hard to control that. So those are my two cent on the risks and pitfalls of podcasts. But I think overall it's a very underrated tool and you should definitely explore it for an observation.”
By keeping your branding consistent, you’ll better tailor your output and overall show to achieve consistent, widespread brand recall that draws in more opportunities to connect and invest.
Wrap-Up
As one of the digital space’s rising mediums, podcasting offers an invaluable opportunity to reach to broader ranges of audiences—and the same applies to investor relations. With this marketing strategy, you’ll be able to generate more opportunities to expand your network and better establish your firm’s authority in the investment space, while drawing in more investors in the process!
__________________________________
If you loved this value-packed session with Julia, you can access more of Junicorn Consulting’s insightful resources on our website. Follow us on LinkedIn for the latest updates.
