Podcasts, A Corporate Opportunity
PODCASTS ARE AN OPPORTUNITY TO CONNECT, ENGAGE AND ENERGIZE EMPLOYEES.
Written by Corinne Phillips
“Connection is the need to be seen, heard and appreciated.”
—Lakshmi Rengarajan
The Problem?
Shifting Consumer Marketing
Externally, companies are struggling to figure out how to connect with the changing marketplace. Millennials, as well as Gen Z customers, are no longer responding to the traditional “one size fits all” marketing efforts of the past. They want to feel as if they’re connecting with each brand and service they choose, one-on-one. They require more personalization as well a sense of authenticity and transparency when engaging with a brand. What’s more, they seek brands that share their values and offer a sense of community.
Need to Engage Employees
Internally, companies are failing to connect the dots between their internal values and structures and how they engage customers externally. If these two things are out of alignment, customers sense the disconnect and the lack of authenticity.
Technology is one business sector that has experienced massive growth over the past decade, largely due to its focus on employee happiness, offering them everything from on-campus gyms, ping pong competitions and free food. Younger generations of employees flocked to these companies that offered a greater sense of community, beyond the products and services the company was selling.
In many cases, these tech companies have been able to leverage internal values in a way that resonates externally with customers, creating a vital link of shared values.
“A study by ManpowerGroup showed that the top career priority for more than 40% of millennials is not to maximize earnings but to make a positive contribution to society or to work with great people.”
The Opportunity
There is need for companies to find a way to humanize their work culture and create an environment that fosters community and camaraderie amongst employees. A powerful way this can be accomplished is through sharing personal stories and interpersonal experiences. And one format that is perfectly suited for this type of story sharing is podcasts. They are easily accessible and typically not too long (20 to 40 minutes). They are also portable and can be enjoyed while doing other activities. Most importantly, podcasts are typically listened to on headphones, which makes them especially potent and intimate. Each podcast episode is a way to share company values, insights and ideas. Episodes can also be a way to educate employees and reach common goals in a more entertaining, personal way; much more than a lengthy email, a training session, or a meeting. Podcasts can help to create a sense of community among employees in a way that’s energizing.
“We’re good at meeting but not connecting. Meetings are draining and connecting is energizing.”
-Lakshmi Rengarajan
As technology continues to push us toward efficiencies, and to work longer hours more remotely, the human connection in a company takes a backseat. A corporate podcast is the perfect solution to encourage true connection in the workplace.
“While perks and benefits may help increase employee happiness and subsidize salaries, it's not really about beanbag chairs and ping-pong tables. It's all about the company's culture.”
—John Hall (source)
Podcast Potential
Podcasts can be very focused on the special needs of a company, at any given time, or they can facilitate broader, more value-based conversations. Opportunities include:
INTERNAL
· Get to know your colleagues – employee personal stories and experiences
· Get to know what your colleagues are doing: projects and career highlights
· Learn about company projects—process and learnings
· Share company values
· Share expertise (internal and external) on key topics
· Train and educate employees in areas of needs
· Ongoing employee development
· Share company news and updates
· Highlight how customers are benefitting from company’s products and services
· Internal Communications
· Onboarding new employees
EXTERNAL
· Share employee highlights through stories and narrative
· Share work highlights of interest to general public
· Create more connection between employees and customers.
· Highlight expertise of employees.
https://www.podcastinsights.com/podcast-statistics/
Why Fashion Consort?
Fashion Consort is a consulting collective offering over 20 years of combined expertise in areas related to fashion, retail, lifestyle and consumer driven businesses. We draw on a deep network of experts and professionals to create, produce and deliver content—digital and physical—that inspires, entertains and educates employees, students and consumers, with a focus on current issues, innovations and authentic human connections.
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Podcast Demographics - United States
75% of the US population is familiar with the term “podcasting”
50% of all US homes are podcast fans
51% (144 million) of the US population has listened to a podcast
32% (90 million) listen to podcasts at least every month
22% (62 million) listen to podcasts weekly
16 million people in the US are “avid podcast fans”
54% of podcast listeners are male, 46% female
Age of listeners:
12-24: 40%
25-54: 39%
55+: 17%
34% of podcast listeners are non-white
41% of monthly podcast listeners have household income over $75K (vs 29% for US population)
25% of US podcast listeners have a 4-year college degree (vs 19% of US population)
51% employed full-time (vs 44% of US population)Source
“Podcasts have revolutionized how we share and absorb information.”
—Conner Delaney