Do you have a podcast for your business? Is it a profitable one? Today's episode discusses how to grow your business with a profitable podcast. Our subject matter expert today is Harry Morton. As a CEO & Founder of Lower Street, he helps agencies, startups, and enterprises launch next-level podcasts that actually make money and build their brands.

His journey in podcasting: With a music technology and audio academic background, Harry started in post-production before transitioning into sales and marketing. His desire to always own a business inspired him to establish a podcasting agency in 2006 with the goal of helping companies tell their stories through audio. He does not have a podcast because they have concentrated on developing podcasts for clients.

Benefits of a business starting a podcast: Harry says podcasting is for the long haul, not quick sales. This means the business often takes a long time to gain traction and grow meaningful relationships with the target audience for the desired ROI. He disqualifies podcasting as a channel of instant lead generation but lauds it as perfect for networking and account-based marketing. The feedback from the ideal customer profile is often valuable for the growth of the business. In addition, it allows the podcaster to gain knowledge from subject matter experts who come on as guests. These guests also become part of the business ecosystem because they get to learn about your product or service offering.

What is a profitable podcast: Our guest expert explains that how to measure the success of your show in podcasting varies from one individual to another, depending on their goals. While one podcaster may be after increasing the lifetime value of their customers, another may be simply seeking to develop strong networks with their ICP. He says that one should not launch a podcast to monetize it because the space is increasingly becoming competitive as podcasting gains traction. Instead, a non-sponsored podcast passes for a profitable podcast because it is built on authentic relationships and networks of the target audience.

How does a new podcast decide its starting point? Harry speaks to the highly competitive environment of podcasting, which translates that an individual podcast has to fight with many podcasts for the listener's ear. As such, a new podcast should focus on the target audience in terms of what they need, providing a competitive advantage.

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