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What's your prediction on podcasts?

2

I belong to a CEO group and every week,

everyone's I got to start a podcast.

3

I got to start a podcast.

4

Is it too late?

5

is it the right time?

6

There are so many damn podcasts.

7

Now, so just in our space

alone, there's like hundreds and

8

hundreds of marketing podcasts.

9

So it's just the reason why

we love our listeners so much

10

because they're so loyal.

11

But the point is where do you

think like audio, pure audio

12

content and podcasting is going?

13

Does it continue to?

14

Thrive and survive, or is it,

that's too crowded of a marketplace?

15

I think that we've been really

spoiled recently just because we say

16

now it's too crowded, that's like

saying that stock is too expensive.

17

back before Berkshire Hathaway

was trading it, whatever it

18

is now, you know what it is?

19

What is it for sure?

20

Like a hundred thousand

dollars or something obscene.

21

Oh my God.

22

Yeah.

23

Imagine the people are like,

Oh my God, it's 500 a share.

24

I could never afford that.

25

That's what I'm saying.

26

That's what it feels like because

anytime you're looking at that graph,

27

all you have to do is zoom out and

realize if it is 500, 000, when it

28

was a hundred thousand dollars, people

were like, Oh my God, that's insane.

29

And when it was a thousand dollars, people

were like, Oh my God, that's insane.

30

So I think what's going to end up

happening inside the space of podcasts is.

31

Each listener, we get 300, 000

downloads a month on this show.

32

Ralph, that's unbelievable.

33

That's like Madison Square Garden

times what, 12 or something?

34

How many people fit in

Madison Square Garden?

35

20, 000?

36

30, 000?

37

Is that what it is?

38

So 10 Madison Square Gardens a month?

39

and we look at that and we're

like, Oh, how do we get to 350?

40

But, and I'm going to get

a little dramatic here,

41

dude, that's 300, 000 souls.

42

That's 300, 000 households.

43

That's 300, 000 individual incomes.

44

And so I think what will start to happen

with podcasts is instead of thinking

45

in those large aggrandize numbers.

46

It's man, if you're getting a hundred

listeners a month, good on you, dude.

47

And that's okay.

48

podcasts will continue to get more

niche down more specific, more targeted.

49

And I think every HOA

should have its own podcast.

50

I think every community

should have its own podcast.

51

I think every boy scout troop, every

individual, Chick fil A, like it's okay

52

to get that niche down and they don't

have to be daily the way that this

53

is daily, but podcasts are meant for.

54

Exactly this talking about specific

topics relevant to a specific audience.

55

Then the question is, where's

the limit on specificity?

56

And my answer is there isn't one.

57

so I think podcasts continue

to proliferate, but I think the

58

listenership available to Podcasts as

they proliferate, obviously goes down.

59

It's the way that there used to be 10

television stations and now there's

60

500, but there's still this insane

hunger for content that doesn't stop.

61

It hasn't stopped.

62

Yeah.

63

And I think podcasting is still a

smart thing for businesses to do.

64

Absolutely.

65

I don't even think from an

acquisition perspective.

66

I'd say go send your prospects to

your podcast after they land and then

67

use that as an indoctrination method.

68

it's 20, 000 people are held at the

madison square garden Which is about like

69

the boston garden like td garden So that's

a lot so that we get 10x that amount every

70

single month if we get 300 000 downloads

It's 15 15 times madison square garden.

71

That's a ton of people you launch

a podcast, you are not going to get

72

those numbers for quite some time.

73

We haven't had this eight years plus, but

the point is, is we have a common friend.

74

I always use him as an example.

75

Like he's in the M and a

space in the agency world.

76

He has a podcast.

77

he just did one that

was worth over 900, 000.

78

He got on a commission and you know

what he did to help bring that in?

79

It was a referral, obviously, but

he had them listen to a bunch of his

80

podcasts to get to know, and trust him.

81

And he used it as sort of

part of his sales funnel.

82

It's brilliant.

83

And he probably gets.

84

If he gets a thousand,

I'd actually be surprised.

85

once a week, maybe a couple hundred

per episode, but the point is

86

it's the right couple hundred.

87

That's exactly right.

88

It's agency owners looking

to sell their business.

89

Second bite podcast shout

out for my boy, Todd Tasky.

90

one of the guys, my CEO group asked

me about this particular subject, very

91

niche related only to his industry.

92

I'm like, yes, absolutely do it, You

can't give up after the third month when

93

you start getting discouraged because

that's when most you can't give up.

94

But at month three is

when most of them stop.

95

think there is absolutely

still a market for it.

96

And the niche, the deeper You go into

one specific niche, a niche of a niche.

97

You can get found in all

these, podcast platforms.

98

And then you become that micro

influencer we're talking about that

99

people want to work with and through.

100

Correct.

101

And you end up, even the, thousand

listeners or whatever that Todd's

102

getting, ends up being worth a massive

amount to the right strategic partner.

103

absolutely.

104

So when I graduated college, Berkshire

Hathaway stock was at 4, 700 a share.

105

It is now at 549, 000 a share.

106

think of it that way.

107

are you at the early stages of podcasting?

108

No.

109

Are you in a mature phase?

110

Maybe is it passed?

111

I don't think it will.

112

So yet another prediction.

113

Podcast market is still a strong

way to boost your business.