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How Should Podcast Success Help Grow Business?

Posted by Dan Weiskopf, ETF Professor on May 26, 2021 10:30:00 AM
Dan Weiskopf, ETF Professor
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The ETF Think Tank Portfolio Nerds will be mixing it up this week and stepping into the wrestling ring with Conrad Thompson @HeyHeyItsConrad. We have hosted a number of athletes in the past, Billy Bean, Jordon Burroughs, Matt Barkley to name a few, but no one who has had as much success at marketing to a specific sports segment as a podcaster. Regardless of whether you are into wrestling it always helps to mix things up in the Tank and marketing is a key component to entrepreneurship. Don’t worry – this is still a “family show” focused on financial services/ETFs. Conrad Thomson and his family run a business that provides mortgage brokerage services through Save With Conrad.

How Does World Wrestling Entertainment (“WWE") Fit With Success

We expect to cover a lot of different subjects during the show, but as is traditionally the case let’s note that the audience that Conrad has identified spans millions of people and arguably positions his services with a successful media company. The WWE audience is about “11 million fans in the United States” and since going public at $11.50 on May 20, 2004 it has returned 942.51% vs the S&P500 return of 430.53% and revenues are forecasted in 2021 to eclipse $1.1 billion in 2021 up from $374 million. [i] Note to ETF Nerds, this winner is “under-owned” by ETFs at 4.7% versus the avg stock ownership at 7% and is an example of why and how active share in the ETF market can make a difference.

[i] Source: Bloomberg returns ending May 23, 2021

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Podcast Success: Conrad Thompson

The culture at Toroso is more than investments and being an ETF Nerd. We are serious about our firm’s value proposition as being about enhancing the value proposition of the financial advisor. On the show this week we plan to talk about (1) how niche or gorilla marketing is important in the financial service industry, (2) how Conrad Thompson identified the right audience, and (3) how social media can provide tremendous reach. Lastly, we will also discuss what makes for an interesting podcast.

For those looking for KPIs:

  • Conrad Thompson hosts 6 different weekly shows;
  • 3,300 Premium listeners subscribe to Patreon and pay him between $9-$49 a month for adfree listening to https://www.patreon.com/adfreeshows;
  • In 2017, his success was measured by over 3 million downloads a month. Conrad Thompson Found His Niche: Pro Wrestling See link

Identifying the right audience can be tricky and led by trial and error, but it must be about authenticity of alignment, growth, and passion. Bob McClellan’s ESPN article titled “How Conrad Thompson went from Alabama mortgage broker to pro wrestling power player behind podcast empire and Starrcast Conrad Thompson” explains it.

Self-Promotion

We are very much about ecosystem alignment and synergies of purpose. We believe that a “bunker” mentality and a passion for what we do is key to our culture as a firm. Self-promotion may not be right for most financial advisors, but if this is true does it also mean that such an opportunity is a competitive advantage? We live in a world where social media is an effective growth medium for purposes of communications, but it takes skill and practice and definitely a long-term commitment. Self-promotion and a passion for broadening one’s insights and personal network should be every financial advisor’s goal.

Are you stuck in your comfort zone? Hope to see you during the Happy Hour!

 

Disclosure
The information provided here is for financial professionals only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

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