Significance and impact of storytelling on B2B mar
The market for B2B SaaS is rapidly changing. It is experiencing new technologies, innovative business models, and rising investments. The B2B SaaS market is also witnessing the entry of many new players. When the market is this dynamic, the existing and incoming companies must find distinct and innovative ways of marketing their products or services. Throughout this search for creative marketing mediums, many companies have found podcasts as an effective tool for B2B SaaS marketing.
As the urban lifestyle is becoming more and more time-driven, people prefer audio medium as the go-to. Unlike printed/published media or video media, audio media allows people to do whatever they are doing. It has significantly impacted the podcast industry. And because of this, all the major B2B SaaS industry players are aggressively using podcasts for marketing purposes.
The standard internet tools such as social media, company website, email marketing, etc., are guaranteed to offer you sales. But these tools are outdated for dynamic markets like B2B SaaS, as your competition is always trying to stay ahead. And this is where the podcasts come to your aid.
Spotify, one of the leaders in the B2B SaaS market, has over 400 million active monthly listeners. In 2019, the number of podcast listeners grew by around 200%. Currently, Spotify serves more than 187 markets globally. These numbers are evidence of the rise of podcasts. Many major players, such as YouTube and Amazon, have started their podcasting services along with Spotify. With around 2.5 billion active monthly users, YouTube has now become the most prominent platform for podcasting.
Another reason for choosing podcasts is the expenses. Podcasts are inexpensive to produce. All you need is a team of experts based on your script, and that is it. The costs required to create a marketing video are much higher as it requires professionals or outsourcing. Because of the same, the new entrants in the B2B SaaS market are deliberately using podcasts to get market share. You can then use these saved expenses in podcasts to get a better team of experts to increase the podcast's credibility. Podcasts also allow you to fragment it for short video content, marketing montages, or as a source for your website content and blogs.
Storytelling carries the highest significance in creating your brand image in the market. When executed perfectly, your brand story, struggles, and personal approach to challenging situations can help you build an emotional bond with the customers. It is always tricky to create a perfect piece of content for marketing that proposes a complete story about your brand. But, podcasts allow you to do exactly that. Through podcasts, you can connect effectively with your audience. Through perfectly pitched script and storytelling, podcasts can help you create a unique identity.
Throughout the podcast, which usually lasts for 60 minutes or more, you can effectively pitch your marketing goals to get the attention of your target audience. As podcasts allow people to continue what they are doing while listening, the bounce rate for podcasts is relatively low compared to videos or blogs. Generally, podcasts do not need to be as formal as blogs or as creative as videos. This organic nature of podcasts is another reason people find them more engaging.
Now that you understand the importance of podcasts in B2B SaaS in leveraging marketing campaigns, let's go through how you can move forward and create an engaging podcast.
While creating a podcast, you must remember a few things, such as the objectives to be covered, the quality of the blog, the unique identity, and the communication channel you choose. While writing the script, marketers often go for a tone of storytelling. It offers an engaging style to the podcast and helps increase retention. Along with storytelling, you can also include other means of increasing audience engagement, such as quizzes, questions, interactive games, social media posts, and hashtags. The script should reflect your marketing objectives while maintaining your brand's unique image.
Communication channels such as Spotify and YouTube actively boost the podcast through their algorithm. It is reflective of the massive response to the podcasts from the public. Along with these two platforms, Apple Podcasts is booming, too, capturing a significant market share of the podcasts industry. It would help to decide the communication channel based on your objectives, target audience and brand image.