[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
One of the first rules of launching and growing a business is to avoid overly saturated niches. For example, as of early 2024, there were 3.2 million active podcasts, so it might seem logical to run as fast as possible from this media.
Thankfully, I've never done anything the conventional way — I've been more of a "throw spaghetti at the wall and see what sticks" type of person. This is, in part, why I, along with Gillian Pensavalle, launched the podcast True Crime Obsessed. Despite the odds, we have managed to grow its paid subscriber base from 500 to 45,000.
To me, this is proof enough that there is space for new creators. Furthermore, and despite what some might regard as market saturation, there is only one you who can share that unique voice with an audience. I've found that there are opportunities to both create and delight in authentic and engaged communities, along the way generating professional credibility and potentially considerable income. It will take hard work, but following my six-step process for boosting your subscriber base and keeping listeners coming back for more will be a leg up.
1. You do you, and only you
There may be several million podcasters out there, but none of them wield your brain — which is why it's so important to be authentic. No matter what type of material the show covers, it's vital to bring your background and experience to the microphone.
I knew from the outset that the true crime podcasting niche was insanely saturated (on Podchaser, there are no fewer than 23,000 of them), but I jumped in anyway because mine deviated from the traditional. Rather than rehearsing or scripting things the way many hosts do, "TCO" is simply me and Gillian having a spontaneous discussion about a case after we've researched it.
The lesson here is that it's essential to spend time reflecting on your talents, background and experience and apply them to produce something unique. Put simply, in a herd of horses, be the unicorn, and don't worry too much early on about your "voice." That will come naturally.
Related: Listen to the Entrepreneur Weekly Podcast
2. Who are your people?
No podcast can appeal to everyone, so don't try. Instead, focus on those inclined to gravitate towards your content.
It will likely be challenging to figure out those demographics at first. When I started TCO, our subscriber base (I prefer to call them our "fam" because they're such a great community) grew naturally. Later, we began to pick up on trends (our appeal among the LGBTQIA+ community, for example) and then lean into those areas.
At first, you might not know your age, income and gender breakdowns, and that's perfectly fine. Instead, consider who these people really are and what they care about. What are their social causes? What keeps them up at night? What do they dislike?
Related: How to Grow a Loyal Podcast Audience
3. Find a co-host and team that expands value
It's always nice to have people around who compliment you, but even more important are those who complement you. The right co-host will spice things up with another viewpoint, and as the show grows, you'll likely want to add even more team members.
The key ingredients here are contrasting skill sets. Gillian and I are able to work harmoniously because she's brilliantly articulate, whereas I'm a "reactor." While our skill sets overlap, our conversational styles contrast nicely.
Once you've found a potential co-host, do a couple of non-aired episodes together to see how things go. You'll instinctively know it if there's chemistry.
4. Offer exclusive and compelling content
The most important ingredient for building a subscriber base (and so income) is, not surprisingly, content. It must be simply irresistible — that's non-negotiable. And on top of this stellar content you need to offer additional material that's exclusive to subscribers. I've found that to be the most effective way of turning casual listeners into superfans.
Most true crime shows offer one exclusive episode to paid subscribers per month. I elected, however, to do an extra full-length bonus episode each week, which helped turn us into a routine part of subscribers' lives. Another option is to offer additional bonus content for subscribers at different membership levels.
Related: This Is the Winning Formula for Starting a Successful Podcast, According to a New Analysis
5. Commit to your community
Intrinsic in human nature is the need to belong and be surrounded by those who are like-minded. To truly take a podcast to the next level, it's vital to both build an audience and connect with them, as well as provide a forum for them to connect with each other. Listeners want more than a one-hour episode; many want to interact with other listeners and chat, so we created a Facebook group that allows for that.
6. Prove that you're human
Digital communities are fantastic, but you'll also want to provide marrow — poke your head into the real world now and then. For instance, we noticed TCO fans forming regional meetups, and so I began visiting them. Consider doing that and/or hosting live shows and meet-and-greets.
While you're busy building a fam, don't forget to continue embracing authenticity. Stay active on social media accounts, and don't just post about podcast-related stuff. I like showing my personal side on Instagram, for example — whether it's pics of me out and about or a video of myself geeking out over how I once helped Taylor Swift not fall off the stage during a Saturday Night Live broadcast. (Yes, that happened!)
Related: Entrepreneur's Roundup of Recommended Podcasts
These steps can help you attain podcasting success, but keep in mind that occasionally getting uncomfortable is an additional and indispensable part of the journey. I believe that failure is something to be valued. If you failed, it means you tried — took a chance and showed up for yourself.
So don't be afraid to throw spaghetti at the wall and see what sticks.
