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Hello everyone. Around 6 months ago I had a decision to make, did I throw myself headlong into the world of podcasting? Or continue with YouTube? I weighed up both options carefully. In the interest of full disclosure I am a Content Creator by profession so executing a successful Content strategy for both these platforms is probably easier for me to achieve than for a regular Professional Services Firm or business owner. What was very clear was that it would be difficult to execute both because of the amount of time needed for each so a decision had to be made.
When did Podcasting Start?
It was Ben Hammersley writing for the UK’s Guardian newspaper in September 2004 who originally coined the term ‘podcasting’. A major development came for the podcasting industry in June 2005 when Apple added podcasting to it’s iTunes 4.9 music software and made the subscribing, downloading and organising of podcasts much easier. For a chronological history of podcasting click here. Podcasting has grown fairly steadily since those early years and more recent technological advancements such as the introduction of the iPhone in 2007 and Bluetooth Serial Port Profile (SPP) technology in cars have accelerated that growth. SPP enables your car to connect to the internet via your phone’s data connection and this feature is being built into an increasing number of new cars each year.
Why is Podcasting so hot right now?
The year 2014 was hailed as the Year of the Podcast in some circles despite the fact that the global community of podcast listeners worldwide is still small compared to the total radio listening audience. Business podcasts are hugely popular – John Lee Dumas’ Entrepreneur on Fire and Pat Flynn’s Smart Passive Income podcasts have demonstrated how a podcast can be successfully monetised. Click here to read How to Start a Podcast. For both John and Pat the podcast has become their business. Mainstream broadcasters such as former This American Life producer, Alex Blumberg have moved from National Public Radio to podcasting.
How many Podcast subscriptions are there globally?
In 2013 Apple said that subscriptions of podcasts through iTunes had reached 1 billion. The analytics company RawVoice tracks 20,000 shows and in 2013 they announced that the number of unique monthly podcast listeners had tripled to 75 million from 25 million five years ago. Podcasting is seemingly the platform that everyone is talking about and talking on and not just for entertainment purposes. Dumas’ 7 days a week Entrepreneur On Fire podcast is close to reaching the milestone of 1 million downloads per month.
How will Podcasting benefit your business?
Even if you don’t intend to be the next John Lee Dumas or Pat Flynn by consistently creating content for your podcast you will create your own platform that will elevate your business or organisation. In most cases, your competitors will not be podcasting so if you continue to produce excellent content via your podcast in the form of interviews, special reports, industry insight etc you will have a competitive advantage over your business rivals. If you are a commercial law firm, for example your podcast will result in you being perceived as an industry leader. It is similar to the impact that regular blogging has on your business but podcasting opens you up to an audience who prefer to digest content in audible rather than written form.
When was YouTube created?
YouTube began on February 14, 2005 when three former PayPal employees ( Chad Hurley, Steve Chen and Jawed Karim) activated the Internet domain name “YouTube.com” and started to create a video sharing website on which users could upload, share, and view videos. The creators offered the public a preview of the site in May 2005, six months before YouTube made its official debut. Like many technology startups, YouTube was started as an angel-funded enterprise from a makeshift office in a garage. By July 2006 YouTube was the fifth highest ranked site on Alexa. On November 13th 2006 Google completed the purchase of YouTube for 1.65 Billion. For a full history of YouTube click here.
How many users does YouTube have?
Today YouTube has over a billion users. 300 hours of video are uploaded to YouTube every minute. The number of hours people are watching on YouTube each month is up 50% year on year. On average a staggering 60% of a creator’s views come from outside their home country. Half of YouTube views are on mobile devices. More than a million advertisers are using Google ad platforms; the majority of these advertisers are small businesses.
How Does YouTube Benefit Your Business?
Similar to podcasting, YouTube offers business owners the chance to create their own platform (channel) to communicate with their leads and prospects. A successful Content strategy for YouTube will result in great rewards providing that Content is of value and new content is uploaded on a consistent basis. When you can afford it, invest in a good camera. The scale of YouTube means that the potential reach of a successful business channel will outstrip that of a podcast in most cases. Remember that business owners do not need to worry about competition from PewDiePie or other popular gamers because they operate in different sectors to him. Consider the potential engagement generated from YouTube for your business. Firstly, there is the chance to reach a global audience and secondly, there is the chance to connect with your potential customers via their phones. The same can be said of podcasting of course but people have to find your podcast first. Most people have no problem finding YouTube with the exception of countries where it is banned.
After weighing up both platforms my decision was to remain committed to YouTube and you can see that currently we have 89 videos on our YouTube channel and this figure is set to rise. Have you had to make a similar decision? Have you started a podcast or YouTube channel recently? Please let me know your thoughts in the comments section below.
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