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In a crowded field of financial advisors, professionals are constantly looking for ways to stand out from the competition and attract new business.
Many thought leaders are creating podcasts to do so, partnering with professional podcasting companies to help plan, produce, and promote episodes. Firms such as ProudMouth, one of the first financial services podcasting companies, and PodPony, a full-service media services company, help financial advisors get started and stay on track.
“With podcasts, [financial advisors] can host a radio show from the comfort of their own home, and generate hundreds, if not thousands, of leads,” said Diana Britton, executive editor of WealthManagement.com and host of The Healthy Advisor podcast. “Especially now, in this volatile environment with the markets, consumers are looking for financial advice and guidance.”
Choosing the right podcasting partner is important. Britton launched her podcast in 2019, working with ProudMouth to produce it.
What should financial services professionals consider?
To get started, financial services professionals should take stock of what equipment they have, what they can borrow, and what skills they possess. For example, it’s important to have top-quality audio equipment and a quiet place to record. They also want to be realistic about their audio editing skills.
Next, advisors should create a realistic budget for their podcast. From there, they can determine which tasks they can handle themselves and where they might need support from a partner.
They should also assess any relevant experience, such as scriptwriting, episode planning, and interviewing skills, that they can leverage to create a podcast that resonates with their target audience.
Additionally, they will want to figure out how often they want to release episodes as consistency is key. Advisors can alienate listeners if they drop episodes late.
Promotion is also important.
“The editing work is key, but there’s also a lot of work that has to be done after the episode is edited, such as creating a transcript and summary of the episode and getting it published on the major podcast platforms,” said Britton.
Should professionals work with a podcast partner?
Many professionals choose podcast partners to help them manage the workload.
For instance, ProudMouth has done more than 10,000 episodes using professional interviewers. The company also provides coaching and has created more than 150,000 social media posts to help advisors increase their visibility.
PodPony has created more than 500 episodes. It also offers podcast production, video, blog, website, social media, and branding services.
Creating a professional podcast can pay off in new exposure and additional business.
“Podcasts provide a platform for advisors to not only showcase their expertise, but also elevate their brand,” said Britton. “The podcast format…allows for consumers to get to know the real you. That authenticity is really what’s going to attract prospects to you and differentiate you from the thousands of other advisory firms out there.”
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