If you've spent even a moment of time in the world of early stage startups, you've heard of product market fit or, PMF. Marc Andreessen describes PMF as "being in a good market with a product that can satisfy that market.” It's the lifeblood of any nascent company.
At Podsicle Media, we also talk about PMF. But for us, it stands for Podcast Market Fit.
podcast market fit
noun | pod·cast mar·ket fit
Definition of podcast market fit:
Having found a value proposition that satisfies your audience's needs and your podcasting goals.
When you're trying to find podcast market fit, it's important to start by understanding your audience. Who are they? What do they want to hear? What problem are you solving for them? Once you have a good understanding of your audience, you can start to craft a value proposition that resonates with them.
It's also imperative that you find a way to make this value proposition a functional marketing tool for your company. After all, that's why you're launching a podcast in the first place.
Maybe you're going to provide valuable, expert insights for your audience as a way to boost your reputation as a leader in your industry. Maybe you're focused on 1:1 conversations with potential clients, interested in showing them how you provide value. Whether your podcast marketing goals are brand oriented or account based, PMF is critical to your shows survival.
So how do you go about finding podcast market fit? Here are a few tips:
Know your audience
This seems like a no brainer, but it's worth repeating. You can't find PMF if you don't know who you're trying to reach.
Do your research
In addition to understanding your audience, you also need to understand the market for podcasts as a whole. What are people already listening to? How does your show compare?
Be clear on your value proposition
As we mentioned before, your podcast needs to offer something of value to its listeners. Whether that's entertainment, education, or simply a different perspective, make sure you're crystal clear on what you're offering and why it matters.
Repurpose, repurpose, repurpose!
One of the strengths of podcasting is that you end up with not only audio content, but the opportunity to repurpose and further distribute different of that content on different channels. So make sure you're taking advantage of that by transcribing episodes, creating blog posts, or even turning your best segments into social media posts.
Keep at it
Just because you don't find podcast market fit right away doesn't mean you never will. It takes time, patience, and a whole lot of trial and error. So keep at it, and eventually you'll find your audience. And when you do, it'll be all worth it.
So there you have it! A few tips to help you find podcast market fit for your show. Good luck out there, and happy podcasting!
Want to learn more? Get in touch with us at Podsicle Media to see how we can launch a successful podcast for your company.