Why More Franchisors and Franchisees Are Turning to Podcasting for Branding, Storytelling and Growth
Jack Monson, Chief Growth Officer at Thunderly.
Courtesy of FranchiseWire.
More franchisors, franchisees, suppliers and brokers are launching successful podcasts and connecting with new audiences.
People ask me frequently: Has podcasting peaked? My answer: No. And, is it too late to start a podcast? My answer: Also, no.
In podcasting’s 20-plus-year history — and my 16 years in the industry — I’ve seen trends come and go, but one thing remains clear: There has never been a better time to start a podcast than today. Many assume the market is oversaturated, but in reality, podcasting is still evolving, and its potential for franchisors, franchisees and suppliers is far from tapped.
Unlike traditional advertising, podcasts offer a unique, personal and long-form way to connect with audiences, build trust and establish authority. There’s still plenty of runway to grow your business using this outstanding marketing tool and engaging communication channel. We’re still in the Golden Age of podcasting in franchising, and those who embrace it now will be ahead of the curve.
Why Podcasting?
Unlike Google Ads, Social Media Ads or even blogs with a link to a website, podcasts rarely have a direct call to action that will yield a new lead. The goal is not to get more leads but to bring awareness to your opportunity.
For the top of your business development funnel, podcasts bring brand awareness. For the middle or bottom of your sales funnel, podcasts nurture your current candidates and act as a sales tool to engage or reengage.
In that lower end of the funnel, franchisors can use podcast episodes as a validation call. Successful franchise development teams are placing podcast episodes on their websites (plus Apple, Spotify, etc.) that feature conversations with franchisees with stories candidates should hear. Imagine candidates hearing about your franchisees’ lives at any time, day or night.
For franchisees, it’s about local influence and attention. Imagine being THE lawn expert in West Des Moines. Imagine being THE pizza guy in Chattanooga. Local community influence is the next frontier. And with podcasting, it takes more time than money, which is perfect for many small business owners.
This is also good for suppliers. Marketing your services to franchise brands is getting more expensive every month. But remember, this is brand awareness, not lead gen. Many suppliers ask me to forecast the number of leads they will get on a podcast they’re producing or sponsoring. My answer: Zero. But you have the potential for the right handful of people to learn about your brand.
The Value of Branded Podcasts
You may consider sponsoring or partnering with an established podcast for faster results. But the long-term play here is to have your own branded podcast. In a recent survey, 61% of listeners to branded podcasts say an episode made them more favorable toward the brand, delivering a halo effect for that brand.
Some great current examples of branded podcasting in franchising include Sport Clips, The Joint Chiropractic, Huntington Learning Centers, Lightbridge Academy and Benetrends Financial.
Audio Is King
Note: for this article, we’re focusing only on audio podcasts. Some argue that anything with video is actually not a podcast, and I agree. Video “podcasts” are mostly just unprofessional-looking, glorified Zoom calls, in my humble opinion.
Audio podcasts are very effective in reaching your most attractive candidates who are not at home binging endless streaming videos. They’re active, busy entrepreneurs, so let’s give them accessible content they can consume while driving, traveling, working out, running or working at their day jobs.
And if your target includes Gen Z, you may be interested to learn that a recent study found that audio-only podcasts are preferred by 76% of the Gen Z audience!
The Franchise Podcast Formula
Here are some tips for launching and growing a successful franchise podcast.
- Be consistent and committed. I haven’t tracked the number, but I see franchise podcasts frequently start, fade and stop within 6 months. The reason? The people creating it get busy. Also, the low cost of entry means many people are experimenting or dabbling. The unclear return on investment makes it easy to save resources on brand awareness and spend more on search ads.If you’re going to successfully raise awareness, you need a long-term plan that includes a commitment to one year of podcasting and a minimum of one to two podcasts per month.
- Keep it short. Twenty minutes is great. 15 is better. 10 is golden. Anything much longer had better be fascinating. Too many franchise podcasters feel the need to fill an hour the way you fill a meeting on the calendar. You’re not checking boxes; you’re trying to grab attention.Think like a radio DJ, shock jock, or a program director from radio’s heyday. Your job is to keep listeners engaged for the next fifteen minutes at a time. Successful broadcasters built their empires improving their Quarter-Hour ratings.
Pick a focus and stay in your lane. What do you do better than your competitors? What aspect of franchising do you know as well as or better than anyone? That’s your topic. Tell us about it.
