The global podcast market continues to expand all the time, and evidence suggests that it is only going to continue to grow for the foreseeable future. 2021 holds the record for hours spent listening to podcasts with 15 billion hours compared to 12 billion just two years ago, and research suggests that by 2024 there will be 100 million podcast listeners in the US alone. As the country, and the globe, continues to weather economic circumstances that might be described as ‘nebulous’, podcasts dedicated to banking and credit unions present exciting, maybe even vital, opportunities for financial organizations to engage with their customer base, establish their unique brand, and demonstrate how they can help customers navigate financial opportunities and pitfalls.
How Could a Podcast Help My Bank or Credit Union?
Podcasting is an industry that has grown rapidly and only continues to grow. People listen to podcasts while they commute, while they work, while they workout, while they do housework, while they do homework, etc. In fact, a survey found that 70% of listeners, at least sometimes, do nothing else while listening to podcasts And the beauty of podcasts is you can listen to them almost anywhere. We listen to them on our phones, on our tablets and computers, on our car stereos as we drive.
Perhaps you're not ready just yet to start a podcast, but it is certainly an area of the professional marketing world that is getting harder to ignore.
In the case of the banking and credit union industry specifically, let’s look at a few existing shows and discuss the ways in which smart, forward-thinking business leaders are using this engaging communication vehicle to strengthen their relationships with banking customers and other key stakeholders.
Community
What Connects Us, Conexus Credit Union: This podcast is less concerned with Conexus Credit Union itself, and instead focuses on shining a light on life and culture in Saskatchewan, where Conexus is located. Although, of course, there is plenty of money talk as well. Topics range everywhere from sports to agriculture to mental health to human interest stories in the province. Beyond being an engaging listen, this local-focus grounds Conexus squarely within the community that it serves.
Truth in Texas Banking, Veritex Community Bank: On the other hand, Truth in Texas Banking puts the focus on its own community. Every episode finds the COO of Veritex chatting with different people within the organization. With its folksy music and easygoing chats, here is a podcast that reminds listeners that their bankers are people who shop in the same stores, enjoy the same things, and have the same concerns as anyone who might use that bank.
Education
Best Life, Altra Federal Credit Union: Best Life might be described as a “bite-sized” podcast, releasing short episodes of under 10 minutes every few days. These episodes provide an authoritative perspective and voice on the financial industry and Altra FCU’s own practices and infrastructure. It provides Altra with a quick, reliable resource that anyone can utilize.
Money School University Podcast, Focus Federal Credit Union: The goal of this podcast is to make the financial sector as comprehensive and understandable to the layman as possible. The interviews with podcast guests and the advice given are driven around being as clear and informative as possible to anyone who listens, no matter their background.
Current Events
FinTech Insider, 11:FS Financial Consultant: Rather than having only one host, FinTech Insider has a rotating team of hosts conducting longer interviews with various guests. New episodes release every few days, covering breaking news from the financial sector with expert guests. Because there is no fixed host, the ‘star’ of the show is the industry, the information, and the feeling of access into the inner world of money.
Maybe it’s difficult to think of how to create a podcast for your financial services business, but as the above examples show, there are any number of approaches you can take, even for a field that can be perceived as confusing and intimidating by customers. Banking and credit unions may not be the first thing to come to mind when you think about podcasts, but engaged business leaders are finding ways to keep their fingers on the pulse of consumers while forging those important connections.
We’d love to start the conversation with you about your own podcast aspirations. We welcome you to visit our website at www.gomodpod.com, or reach out to us via our Contact form or at info@gomodpod.com.
