The Hard Truth About Growing A Podcast Today (& How You Can Beat the Odds)
Feb 13, 2024
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The podcast discusses the power law curve in podcasting, highlighting the success of the top 10% and the struggle of others. It explores the importance of aligning expectations with reality when starting a podcast. The hosts also discuss the difference between discovery and relationship platforms in podcasting and provide tips for creating a compelling show and rising above the average downloads.
The power law curve in podcasting showcases the unequal distribution of success, with the top 10% of shows receiving significantly more downloads than the bottom 90%.
Setting realistic expectations and aligning them with your podcast's niche and business model is crucial for growth and success.
Deep dives
Understanding the Power Law Curve
The podcast discusses the concept of the power law curve, which refers to the distribution of podcast downloads among shows. The top 10% of shows consistently receive around 10,000 downloads per episode or more, while the bottom 90% of shows receive less than 10,000 downloads. This phenomenon highlights the unequal distribution of success in podcasting, with the top shows reaping most of the benefits.
Aligning Expectations and Goals
The podcast emphasizes the importance of setting realistic expectations and goals for your podcast. It encourages podcasters to evaluate what they want to achieve with their show and consider their business model. Understanding your target audience, niche, and desired outcomes can help you align expectations and determine the best approach for growth.
Opportunities in the Bottom 90%
The podcast highlights the potential and value in the bottom 90% of podcasts. Though media coverage often focuses on the top 10%, there are numerous opportunities for growth and success in the remaining percentage. The episode discusses examples of shows that have found success and achieved their goals in the bottom 90%. It emphasizes the importance of identifying your niche, understanding your business model, and creating a compelling show to stand out from the crowd.
Taking Action and Seeking Support
The podcast provides actionable steps for podcasters to take. It suggests conducting research on similar shows in your niche to understand audience demand and trends. Additionally, it encourages creating a network of podcasting buddies or joining communities to share experiences, gain insights, and receive feedback. The episode also mentions the opportunity to submit your show for a review on a future episode and provides a feedback link for listeners to engage further.
Look closely at the data behind almost anything—from podcast growth, to Google search results, to Amazon product sales, and more—and you'll notice a trend.
In almost every case, the bulk of the rewards (downloads, clicks, sales) go to just a tiny percentage of the available options.
This pattern shows up everywhere, and it's known as the Power Law.
In this episode, we're breaking down the math behind the power curve as it relates to podcasting, whether you should actually be aiming to be at the peak of the curve, and how to set realistic and achievable goals related to your show.
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00:00 Introduction 05:10 Understanding the Power Law Curve and it's impact on podcasting 14:25 Why you shouldn't settle for creating an "average" podcast… and strategies for stand-out 26:40 Unpacking the download data in the Podcast Marketing Trends 2023 Report 37:15 Aligning expectations and setting realistic goals
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