BRX Pro Tip: How to Measure ROI of Your Business Podcast
Stone Payton: [00:00:00] And we are back with Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. Lee, today’s topic is measuring the ROI, the Return on Investment, for your business podcast.
Lee Kantor: [00:00:13] You know, I know so many times we’re asked at Business RadioX, How do you measure ROI? How do you measure ROI? And in our case, at Business RadioX, we measure our ROI by connecting a sale or a sales conversation to a guest or a listener of the podcast. It’s really that simple. It’s easy to track if a guest bought something from you. It’s difficult to track if a listener bought something from you, so you’re going to have to ask. And if you don’t have a system to ask, then you’re really not going to ever know how this person heard from you.
Lee Kantor: [00:00:48] Now, if a guest bought something from you, it’s going to be obvious because you have a picture of that guest. Usually, if you’re a Business RadioX client and having a picture of them in the studio with you. If they’re a listener and you’re not asking, then you’re never going to know if they heard the podcast or not. So, if you’re not asking where the customers heard of you, then you’re not going to be able to track either one, so that’s kind of on the client at that point.
Lee Kantor: [00:01:16] But another way to gauge ROI in terms of increasing brand awareness is by serving your customers and asking them if they’d miss your podcast if it was gone. You know, again, surveying your clients or people that are in your industry about your podcast is important if you want to know if your podcast is working. Now, how valuable is your podcast to the people who are most important to you?
Lee Kantor: [00:01:41] If you’re not getting business and no one cares about it, then you probably should stop doing it. But if you want to measure the ROI of it, you’re going to have to ask your clients some questions and be able to track if your client or a guest listened to the podcast, and that is what helped them make the decision to choose you as the service provider. But a lot of folks don’t want to do that kind of work and they don’t want to ask those kind of questions, so it’s difficult for them to measure the ROI of the business podcast.
Lee Kantor: [00:02:13] But ultimately at Business RadioX, we measure it by connecting dots between the guest, primarily, and the sale. And we recommend that if the client cares about the listeners, then they should be asking every sale if they have heard of the podcast or not. And if they’re not doing that, they’re never going to get a true measure of the ROI.
