Podcasting seems to be the new Facebook but for audio. These days everyone has a channel with a cute profile pic and gets to talk into the microphone about anything that's on their minds. False! It is much more sophisticated than that statement, and we learn Who, What, Where and Why in this article.
Podcasting as a content hub is like a virtual auditorium that allows brands access to an audience that is genuinely interested in their more extended content. A platform that offers brands a compelling new way to tell their story by providing value-driven content to their audience.
In this podcast, Gareth Cliff, founder of CliffCentral, an online media pioneer and leading podcasting network in South Africa, is speaking at a recent event to mark CliffCentral's anniversary. Cliff reflects on the platform's five years of growth, remarking that few people knew about podcasting when CliffCentral started, and today, it is a mainstream format.
As we shift away from traditional broadcast-style marketing that shouts at the audience, the brands that are more successful with this format understand it to be an opportunity to focuses more on storytelling and delivering content with genuine value to the consumer. Presenting a rare opportunity for brands to engage their audience further than a soundbite, and ultimately form a relationship or a 'tribe.'
Heavy Chef collaborated with CliffCentral and Discovery Business Insurance to bring us The Discovery Healthy Business Show, and Fred Roed, the Heavy Chef CEO, talks to Caley Africa about this here.
Present at the CliffCentral anniversary was Timothy Maurice, a podcast host (The Brain & Brand Show) and expert in the links between neuroscience and brand stories. Maurice believes that people's high levels of engagement with podcasts are due to the 'endowment effect.'
"The content you compile inside your phone has value and worth which, in many cases, has an unlimited price tag. Podcasts containing a story that moves you have an emotional value that if lost, could leave a void in your heart," said Maurice.
Wait, what is the Endowment Effect?
Professor Richard Thaler, one of the world's leading thinkers in behavioral science and economics, coined this term endowment effect to explain how people develop a sense of ownership over objects with which they come into contact.
Another guest on the anniversary show was Ernest North, the co-founder of car insurance provider, Naked Insurance, and spoke from the perspective of a brand using the CliffCentral platform to engage with its 'tribe.' North hosts The Naked Economy, a podcast on CliffCentral that tells the stories of people who understand a new generation of business, and are finding innovative ways to achieve win-win outcomes.
North has quantified the value of a podcast based on CliffCentral's data to be the more cost-effective form of advertising and the new generation of marketing. He illustrated that if 5,000 people tune in for the first episode of a new series, then nearly 10,000 people will listen to the full set due to the motion of referrals.
"The beauty of this approach is that customers spread the brand's stories because they feel as if they're investing in the other members of the tribe by sharing the content," concluded North.
Now that is what Heavy Chef is all about, sharing content to the community to encourage growth.