But with thousands of podcasts already out there, why is it important for investment managers to jump on this particular trend?
Clients ultimately want to hear direct from their managers. As such, podcasts can help address some key content challenges asset managers face. In our recent Asset Managers Trends report, we noted that, while the volume of content produced by investment firms has gone down across the board since the pandemic, managers still plan to produce a plethora of material going forwards: 68% of managers expect to produce the same amount of content in 2022 as they did in 2021, with the largest firms on average churning out 21 pieces per month.
There’s no question that content is extremely important to keep clients informed, but podcasts can help to distil messages and break down that still-looming wall of content. But how?
- Content is too long: In his recent Readability Report, The Limitation Game, David Butcher found that investment thought leadership pieces are comprised of, on average, 1,782 words., That is nearly three times longer than that of a typical media article. This is, Butcher notes, too long and likely too complex. The podcast format, which forces you to talk through and explain specific concepts, helps to focus on the key elements. Podcasts aren’t about reading through a whitepaper. They’re about having a pinpointed conversation and educating audiences on what is most important for them to understand and think about.
- Audiences are time-poor: When speaking with clients, it shouldn’t take much more than a 10-minute conversation to get the main points of any whitepaper across. Conveniently, some of the best podcasts are 10 to 15 minutes long. While audiences may not be able to take the time to read a 20-page paper during their commute, they can listen to a short, engaging podcast that digests the key takeaways for them. They end the podcast more informed, their interest peaked and with any luck, eager to engage and find out more.
- Third-party endorsement: Podcasts are more fun and easier to listen to when there are a few different voices chatting through a topic. It brings personality and depth. It also allows for outside voices to shed light on new tangential ideas. Podcasts allow for dialogue – and having a second or third voice coming from a different perspective will help audiences understand ideas more fully from multiple angles.
Podcasts are part of the vast and growing avenues to get messaging across. Done correctly, they are an excellent addition to any asset manager’s communication toolbox and can help further synthesise ideas for an ever-growing and changing audience.