“I remember the electricity of being and speaking in front of fifty thousand people or something like that which I’ve done in one of those rooms, and just seeing the little icons of everyone who’s there, and the numbers are amazing as well as, just, you know, hanging out with ten people and talking to your friends. I think those two experiences are extremely different from podcasting and also very compelling, but perhaps more of a sign of a moment that we were all going through, sort of being inside and having the desire to connect that I think, you know, has passed a little bit. Even if there’s longevity to the app, I think it's certainly not going to be taking over podcasting anytime soon.” -- Mike Kadin

This episode’s the second part of my interview with RedCircle's founder and CEO, Mike Kadin, as we talk about his tips for a successful podcast, how social media and podcasting can complement rather than compete with one another, and some of RedCircle's exciting upcoming projects.

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Creating Compelling Content

We start the second half off with a look at just which surprising podcast topic makes the most money in Mike’s experience, and he makes the distinction between the most overall and the most per download. “If you look at the podcasts that are making the most money per download,” Mike explains, “in other words, the most money for their audience size, those are actually just shows that monetize with listener payments where they collect a couple of bucks from their friends.” This simple approach can be very successful, Mike says, “if you can create compelling content that people are willing to pay for.”

The Resilience of Podcasting

The conversation shifts to streaming media, the prospect of real-time podcast purchases, and what a "cookie-less" world might be like from a privacy and podcasting perspective. We also talk about how much COVID-19 has changed the podcasting landscape, creating both a quick boom in new podcasts and an increase in listeners. “A lot of them churned out,” Mike says of the flurry of new shows, “a lot of them didn't stick with it... Now, I think we're in a new space.” He reflects on how podcasting has grown alongside streaming media and exceeded more traditional markets like real estate: “What's amazing to me is the resilience of this medium through all kinds of economic change”

Carve Out Your Niche

As our interview comes to a close, Mike gives us a sneak peek at some of the new features in the works at RedCircle and offers his advice as a technical guru on podcasting. “It's super important,” he explains, “to make sure that your title of your show is unique,” so that it’ll come up quickly in a search without any other shows getting in the way. He also recommends finding an under-served niche and sticking with it from the start rather than trying to find your voice as you podcast. “You need to be strategic,” he says when it comes to podcasting, “about which territory you're going to chase after.”

Episode Summary

• Which genres and monetization approaches have seen the most success
• How the pandemic helped create the podcasting boom and social audio
• The strength of podcasting in the face of uncertainty and a shifting market
• Mike’s practical advice on giving your podcast a successful start

Connect with the Guest

Website: https://redcircle.com/

Connect with Mike Kadin on LinkedIn: https://www.linkedin.com/in/michael-kadin-a341571b

Follow Mike Kadin on Twitter: https://twitter.com/mkadin/

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