A new podcast for investors has hit the ground running with 10,000 downloads for its first episode.
Magellan Asset Management manages a little over $100 billion in global equity and infrastructure strategies for clients based all over the world.
Founded in 2006, Magellan is the new kid on the block, competing against the bigger conventional names like BlackRock, Fidelity and Schroders.
Magellan is anything but conventional. In fact, its sales teams aren’t subject to goals and targets. Likewise, marketing activities aren’t expected to meet particular KPIs. Instead, its raison d’etre is to serve and provide real value to the market; and not just promote themselves.
Podcasting, then, was seen as a perfect conduit to provide meaningful information to the market.
“The only reason we would do any kind of marketing is if we think it’s valuable to the listener and is actually going to get real traction,” says Lucy Briggs, Head of Marketing for Magellan Asset Management.
One way they do that is by building a PR strategy around Magellan’s co-founder, chairman and CIO, Hamish Douglass. Hamish is well-known in Australia to those who are interested in investing in the stock market or managed funds.
What is ‘In the Know’ about?
In August 2020, Magellan launched its first podcast series, ‘In The Know’, produced by SoundCartel. Each month, host Hamish Douglass interviews CEOs of multinational companies, global thought leaders and investment consultants, as well as key members of Magellan’s own investment team.
With access to some very big-hitters across multiple industries, Magellan’s guest list is a drawcard in itself. They include former deputy director of the CIA, Michael Morell, and Starbucks CEO, Kevin Johnson.
The podcast is not necessarily aimed at investment geeks; it’s targeted reach is broader than that.
“There’s no reason why your mum and dad couldn’t listen to it and actually learn something,” Briggs said. “A wider goal, longer-term, is to bring people into our world that maybe never would be before, sharing some of what we know with them.”
Magellan recognises the importance of using its existing platforms to amplify the podcast, like their website, email database and social media. And with 120,000 investors, they have a ready audience that they knew would be interested, and could promote the podcast too.
Aside from its own database, Magellan asks their high-calibre guests – who have their own substantial followings – to promote their respective interviews.
“The people who we interview, they’re getting a chance to mention it themselves, to say, ‘Oh, I was interviewed by this great podcast. You guys should listen,” says Lucy.
In terms of listeners, ‘In The Know’ has been a success from day one, with more than 10,000 downloads for its first episode.
Success, though, isn’t defined by numbers alone. It’s the deeper, longer-lasting impact with the people, that matters. Listening once is nice, but coming back to listen to more episodes is what matters.
Lucy says the team at Magellan have been blown away by the response to the podcast: “It’s been really lovely to see the ratings on Apple and people’s feedback on Apple Podcasts and Spotify.”
‘In The Know’ has reached number six on Apple’s business chart, and has received countless 5-star reviews.
“We’ve had some fantastic feedback from people emailing, writing, all that kind of stuff to say thank you for finally doing this,” beams Briggs.
For other companies looking to produce a podcast, Lucy says it’s not a short-term strategy.
“It’s got to have longevity. Don’t do it if you don’t think you can commit the time to it. Don’t do it if you think that the standard of what you’re doing might slip over time because, to me, a podcast is one of the most personal and potentially emotional ways that you can connect with your audience because you’re in their ear, you’re in their head,” she says.
The unique qualities and advantages of podcasting is that it’s intimate. Brands can provide an authentic, personalised voice to an interested, leaning-in audience.
Lucy continued, “there’s no one else in the room with them as they’re listening; it’s just you and them. So, it kind of feels like a personal phone call almost. I certainly know myself when I listen to podcasts, it almost feels like I know them.”
Also, the quality of the podcast needs to reflect the quality of your brand.
“If you’re going to do it, you’ve got to do it to the very best of your ability,” Lucy insists.
“Make sure that it’s the right speaker for your audience at that time and try and integrate it into your greater marketing strategy. This is another way of amplifying the brilliance of certain businesses, so make sure it’s a part of that and not just a box-ticking exercise.”
Listen to the full interview with Lucy Briggs, Magellan’s Head of Marketing, on Podcasting Essentials.