You’re ready to launch a podcast (or two) when your creativity ignites.

Business analysts, entertainment reporters, and podcast publishers agree. Popularity for podcasts continues to surge and drive listener growth. Advertisers keep moving their ad buys to podcasts as podcast audiences grow in diversity and size. Podcast communities are growing with exciting genres like wellness and serial entertainment. It’s no wonder you want to jump on the trend.

Chances are you know the necessary steps for launching a podcast, from sonic branding to production strategies and distribution choices to audience development. There’s a critical question for you to answer before hiring a podcast studio team or buying that top-rated microphone. How do you know you’re ready to launch a podcast? Your answer may at first feel trite. Maybe you’re having a hard time focusing on one reason. Believe me. There are no “wrong” answers as long as they feel significant to you. Remember that initial response you scrubbed as predictable. The reasons for tackling a podcast are dynamic. A rationale that first feels commonplace shifts to something innovative after strategizing your podcast.

Learn four reasons you know you’re ready to launch a podcast. Circle and share the reason that best fits you.

Reason One: I’m ready when I have room in my marketing budget.

Suppose you’re a business owner, chief marketing officer, entrepreneur, or organization director looking at the costs of launching a podcast. In that case, you’re ready when you have extra room in your marketing budget.

If you’re a hobbyist, you’re looking for more spending money to fund creative projects.

At first glance, you may think that business owners and hobbyists approach podcasts with radically different business plans. I know from working with diverse podcasters that common threads unite the business owner, the corporate CMO, and the social media influencer.

There’s a legitimate DIY community in podcasting. There are multiple how-to guides for launching a podcast on your smartphone. You can learn how to adjust pillows to transform a bedroom into a recording studio. If necessary, you can launch a podcast for $100 or less. It’s important to remember that you only launch your podcast once, so you need to do it professionally to increase your opportunities for success.

You need to spend sufficient funds to launch a podcast successfully. Making a solid investment in your podcast is the right first -step for all podcasters, whether corporate or indie.

Budgeting for a high-quality podcast allows for professional podcast production, from audio engineering to distribution. Include branding, marketing, and promotion; you may exceed $350 per episode. Think about the number of podcast episodes you plan to produce in a series. Do the math and allocate a percentage of your marketing budget towards your new podcast.

Before landing on a random dollar amount, returning to the marketing debate behind our crucial question is valuable. How do you know you have room in your marketing budget for a podcast? Is there a formula? Many enterprises budget between 9 and 14% of their revenue towards marketing. That’s a good formula for indie podcasters like artists, entrepreneurs, and influencers.

How does one divide their marketing spend? Many marketing budget spreadsheets look like this:
• 25% for Content and SEO
• 20% for Paid Search
• 15% for Web Design
• 15% for Social Media
• 10% for Email campaigns
• Another 10% for traditional marketing like print ads
• The remaining 5% for Organic Social Media

Where does one find a podcast budget?

It’s important to remember you’ll be marketing your new podcast along with your existing products and services. Don’t eliminate any categories. Pull from other marketing budget line items to dedicate 20% of your marketing budget towards launching your podcast. Remember that a successful podcast will attract paid sponsorship, partnerships, and ad revenue. There’s a strong ROI on your podcast investment.

Steve Ramos is an inventive marketing professional with over 15 years of industry experience. Do you want to learn more about launching a podcast? Contact me.