With soft music and staff writer Ryan Ermey's clear voice, Kiplinger launched its first podcast series, Your Money's Worth last week. The first episode was titled, How to Score Holiday Deals on Black Friday and All Season Long, and features an interview with Andrea Browne Taylor, online editor at Kiplinger.com.
Senior editor Sandy Block joins Ermey as co-host and engages in light banter. Kiplinger includes a transcript adding to the engagement level. I also like how they smoothly transition from experiential gifts and photo albums to bear markets and personal finances. Each episode will run under 30 minutes—this one is 27—and consist of three segments.
"We are pleased to add 'Your Money's Worth' to our diverse line-up of print and digital platform extensions," said Sarah Stevens, vice president of content at Kiplinger. "'Your Money's Worth' is aimed at consumers who may not be fluent in personal finance, but who want to make better money and investing decisions. It will be lighthearted and free of jargon while providing informative and actionable personal finance advice."
Podcasting's momentum continues to rise. Nearly one out of every five advertising dollars spent on digital audio during the first half of this year was allocated to podcasts. That's up 50% compared to the first half of 2017, when reported podcasting revenue totaled $112.5 million. The Washington Post just added a daily 20-minute podcast.
According to a recent study by the Interactive Advertising Bureau, the American podcast industry brought in an estimated $314 million in advertising revenue in 2017, up 86% from the $169 million reported the year before. The study further predicts that podcast advertising will hit $659 million by 2020.
Given that, most podcast veterans will tell you to start slowly with a few attainable goals. "Check your expectations at the door," said Matt Priest, president and CEO of Footwear Distributors and Retailers of America, and co-host of the podcast Shoe-In. "What's the universe of people you're trying to reach? We average about 700 listeners and get up to 1,500, or as low as 300. It's a lot of work but we're in like 60 countries including China, Vietnam, India, and other places.
"Our goal is branding," Priest continued. He knows that footwear is a competitive field, so he "was surprised that no one else in the market was doing podcasts. "It keeps our name out there constantly. Then we'll take it on the road. Organizers will give us space. Las Vegas has been great for us." He said it's strange to hear the audiences cheer. "I usually had a Powerpoint slide that stayed up when I spoke [at these events]. Now I have a podcast."
Priest has had a coach—the talented and humble Blake Althen from northern Virginia-based Human Factor Media. "Blake coaches us on keeping it evergreen whenever possible"—so no Trump barbs or yesterday's sports news or stuff like that unless necessary. That way people can tune in anytime and it will feel fresh. Althen also encourages them to sell signage and wall space for ads at these events (for the live crowd).
When another podcaster said they do two a month, Priest said, "If you're going do it bimonthly, you might as well do weekly. Just go in one day a month and knock [4 or 5] out. We did a tour of the footwear factory near Portland, Ore., and dropped that episode during Labor Day week."
Craig Sorrell, marketing manager at Results Direct, advises the seeking out of direct sponsorships, even if you're just starting. "[You] can say, 'Hey, we're just starting out, but we have 10,000 members/[subscribers]. This is [for them].'"
"That's it for this episode of Your Money's Worth," Ermey concludes. "...For show notes and more great Kiplinger content on the topics we discussed on today's show, visit Kiplinger.com/links/podcasts."