Today I want to cover the 80/20 rule which was aptly named the Pareto principal. This video was inspired my good friend Max Pepe from Rebelhead Entrepreneurs who covered the topic for entrepreneurs on his video log recently but I want to talk about the 80/20 rule in terms of podcasting.
So if you take a look at iTunes or Stitcher Radio or any of the other big podcast directories out there you might see hundreds of thousands of podcasts already out there, perhaps lots of podcast on the topic that you’re already thinking about covering. However did you know that around about 80% of those podcasts actually fizzle out and fade away.
About only 20% of podcasters actually keep going, and you know that’s the secret to success terms of getting your podcast noticed and being successful with your podcast. You have to remember you’re only competing with the 20% of people on iTunes that keep going and are committed to publishing their podcast on a regular basis.
So that means 80% of your competition has already disappeared. That’s a much more encouraging statistic than when you look at all of these people podcasting in your subject area and you feel a bit overwhelmed and think ‘what can I add to the mix’.
Well if you’re consistent and you have a lot of knowledge about a specific then you’re only competing with 20% of the people on iTunes and you’ll bring your own unique aspect to your podcast anyway so it’s always important to remember that your way of telling a story and your way of presenting a subject on a podcast is going to be totally different to the other people that have already got podcasts out there.
Again you’re only going to be competing with 20% of those people so if you look up a topic on iTunes and you find 100 podcasts that are covering that topic I can guarantee that only 20 of those podcasts are going to be publishing on anything like a regular basis, and it could even be less so check out iTunes and check out your competition and see how many of those 80% have not bothered to just keep going
The 80/20 rule is a really powerful rule, and remember it in everything you do in your business including podcasting. Podcasting is part of the content marketing arena, and in any content marketing, consistently publishing on a regular basis over a long period of time will get you results. So just keep going with your podcast.
If you’ve not started a podcast yet then check out your competition then take 80% of that away and you’re left with the 20% that your competing with, and see how you can bring something different to the table than the 20% of people that are already covering your subject.
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