As a podcast creator, Sarah had always been passionate about personal finance.
She saw her show, “Money Matters,” as a way to share her knowledge and help others improve their financial literacy and stability.
But when Sarah first started “Money Matters,” she struggled to gain traction and grow her audience. She wasn’t sure who her target audience was or how to effectively reach them.
That’s when Sarah decided to take a closer look at the TAM, SAM, and SOM of her podcast.
Understanding the TAM, SAM & SOM of Sarah’s Podcast: “Money Matters”
Sarah knew that the total available market for personal finance podcasts was quite large, but she wanted to focus on the serviceable available market (SAM) – the people who were actively seeking out and consuming podcasts like hers.
To get a better understanding of her SAM, Sarah conducted market research and gathered data on her target audience.
She found that her SAM was made up of mostly young professionals in their late 20s and early 30s who were interested in learning more about personal finance and improving their financial stability.
Sarah also analyzed data from her own podcast, including download numbers and listener demographics. This helped her understand who was already listening to “Money Matters” and how she could reach more people like them.
How Sarah Used Market Research & Data Analysis to Grow Her Podcast
Based on this information, Sarah was able to determine that her serviceable obtainable market (SOM) was made up of people who were primarily accessing podcasts through Apple Podcasts and Spotify.
She also found that her audience was highly engaged with social media, particularly Instagram and Twitter.
Reaching Her Serviceable Obtainable Market Through Apple Podcasts & Social Media
With this information in hand, Sarah was able to more effectively market “Money Matters” and grow her audience.
She optimized her show’s appearance and discoverability on Apple Podcasts and Spotify and started using social media more actively to promote her podcast and engage with her audience.
The Benefits of Networking Within Her Serviceable Obtainable Market
In addition to these efforts, Sarah also began networking with other personal finance bloggers and influencers in her SOM.
She reached out to them to collaborate on blog posts and social media content, which helped to introduce her podcast to a new audience.
Over time, Sarah’s efforts paid off. “Money Matters” started to gain traction and grow its audience, and Sarah was able to monetize her podcast through sponsorships and partnerships with financial companies.
Thanks to her understanding of her SOM, Sarah was able to effectively market “Money Matters” and turn her passion for personal finance into a successful and fulfilling career.