by Michael Palmrose
I’ve recently come across a client who wanted to start their first corporate podcast. Their first major question was “What’s involved in this new endeavor and how expensive is it?”
The answer may surprise you.
When it comes to professionally produced podcasts - the cost is lower than you think. If you’re debating whether to rent, buy or forgo the professional equipment for your podcast, here are some things to consider before you take the next step:
When NOT to invest in professional podcasting services
If you’re considering making a podcast as a hobby for your friends, family, or community, consider renting a microphone from your local public access station, radio station, or podcast studio. Another option would be to purchase a microphone on Amazon. I would recommend going with a Blue Yeti USB microphone.
When to invest in professional podcasting services
If you’re going after a specific target audience for business or government-related reasons, the time is ripe for a turn-key podcasting provider. Here are some benefits for finding a professional podcasting service for your show:
● Time savings. Having a professional manage your podcast production can save you hours of work. It takes the technical responsibilities away from the host or creator. Now the host can focus on booking talent, writing the script, creating the set and many more facets of the production and branding aspects of the show.
● Higher quality equipment = higher quality sound. A lot of people will not put up with poor quality audio. It doesn’t matter how good your content is. A professional podcasting service can troubleshoot issues much more quickly than doing it in-house. You can also easily rely on their equipment to avoid picking up extraneous noises, enhance the speakers’ voices and really enhance the overall feel of the podcast.
● Editing skills: Nothing turns away a new listener faster than bad editing. You want someone to remove all the “ums”! Professional podcast editors have the top-of-the-line editing suite that can add on a good intro, remove dead space, set a good pace, remove people talking over each other and provide a smooth ending to the podcast.
● Hosting skills: A professional has in-depth knowledge about how to distribute your podcast. They should be able to provide you with tips on where and how to host and syndicate your show for free so that it reaches the widest audience possible without you spending additional funds to distribute the show.
● You can also include video! A top-notch podcasting service should also be able to add a video recording element to your show. If you’re aiming to reach a wider audience, make sure your first episode starts off on the right foot. Ask your podcasting service if they provide lights, multiple cameras, podcasting microphones and any other video needs you have. Think of how much you will widen your reach by adding a video component to the show. Adding video allows you to market and distribute your podcast to an even wider audience using video platforms such as:
■ YouTube
■ TikTok
■ Twitch
■ Periscope
While we are on the topic of video podcasts… how do you know if your podcast should be “live”? The advantages of doing live podcasts is that viewers often get alerted that their podcast host is going live, which drives traffic back to your channel. I would recommend going the “live” route ONLY if your speakers and your guests are professional enough to speak through the entire show without messing up. This is often the format used for more laid back, satirical shows. If you’re a business or a government institution I would avoid going “live” and just do a standard recording.
What should my budget be if I want to start a top notch, high-quality podcast?
$ - In the short term, if this is something that you want to do, you can experiment with just using a professional for audio recording, which can cost around a couple hundred bucks. Just try it for the pilot and see how it goes. This is a way to “try before you buy” a full blown, end-to-end podcasting service package. It’s also a perfect fit for someone who is doing a human-interest podcast and is just starting out in the podcast world.
$$ - For full video, audio and end-to-end podcasting crew, you’re looking at several hundred dollars per podcast if the episode is less than 20 minutes long, with one or two people speaking. This is a good fit for clients like small businesses and government institutions.
$$$ - Corporations looking to start their first podcast should consider investing in a dedicated space within or outside their office for the best look and feel. This includes a 3-camera shoot, at least two people speaking and a branded set with their messaging/imaging in the shot. They should also consider doing podcasts on a bi-weekly or monthly basis to keep the marketing momentum going. This could fluctuate between several hundred dollars to several thousand, depending on the number of cameras, number of guests and the length of the podcast.
Regardless of your decision, make sure that whatever your message is gets the biggest reach within your budget. Want some advice on how to start your first podcast? Drop us a note in the form or comments below.