Latest / The CMO Podcast with Fexingo: Marketing Leadership, Budgets, and Executive Strategy / How CMOs Use Branded Podcast Networks to Build Audience
Transcript
- Lucas: HubSpot's 'The Growth Show' is one of the longest-running branded podcasts out there. It started back in 2013, long before most marketers took audio seriously. And in the last couple of years, HubSpot quietly turned it into a network — they now have four shows under their own umbrella. Luna: So instead of just sponsoring other people's podcasts, they built their own media property. That's a big shift in thinking for a lot of CMOs. Lucas: Exactly. And the reason it matters is that the economics work differently. When you sponsor a podcast, you're renting the audience — you pay for each episode and hope some listeners convert. But when you own the show, you're building an asset. HubSpot has said their podcast network generates a 20 percent higher lead to sql conversion rate compared to their other content channels. Luna: Twenty percent is significant. Do they break down the cost per acquisition compared to, say, paid search or display? Lucas: They don't publish a full breakdown, but in a 2025 interview, their VP of Media said the podcast network's cost per qualified lead is about 40 percent lower than their paid search average. That's plausible because podcast audiences tend to be highly engaged and already in a listening mindset. You're not interrupting them — they chose to hear from you. Luna: Right, but building a network isn't cheap. You need hosts, producers, editors, distribution. What's the minimum viable scale to make it work? Lucas: HubSpot reportedly started with a team of two people and one show. They grew incrementally. The key is to treat it like a media business, not a marketing campaign. That means consistent publishing, editorial standards, and a clear audience strategy. A lot of CMOs fail because they launch a show, do six episodes, and then move on to the next shiny object. Luna: So the audience never builds. That makes sense. And the network model helps because you can cross-promote shows to keep listeners inside your ecosystem. Lucas: Exactly. HubSpot uses each show to promote the others. And they've been smart about picking topics that are adjacent but distinct — marketing, sales, customer success, and a general business show. That way, a listener who comes for marketing might discover the sales show and stay in the HubSpot universe longer. Luna: That's basically the Netflix strategy. Keep them inside the walled garden. How do they measure success beyond downloads? Lucas: HubSpot tracks listener to lead conversion, which means they use unique URLs and promo codes. They also look at time spent — they want listeners who finish episodes. And they survey listeners to see if podcast exposure influenced purchasing decisions. One data point I remember: listeners who heard three or more episodes were 50 percent more likely to become a lead. Luna: That's a strong argument for sticking with it. But what about CMOs who don't have HubSpot's brand recognition? Can a smaller company pull this off? Lucas: I think they can, but the bar is higher because you don't have the built-in audience. You need to be very clear about who you're trying to reach and what value you're offering. I've seen smaller B2B companies do well with niche shows — like a podcast specifically for HR leaders at manufacturing companies. If you're the only show serving that audience, you can own it. Luna: So the focus shifts from reach to relevance. And the economics still work because your cost per lead might be lower than competitive keywords in that niche. Lucas: Exactly. And there's another angle: branded podcast networks can also serve as a talent magnet. HubSpot has said their podcast guests often become customers or partners. The show becomes a relationship-building tool. You're not just broadcasting — you're having conversations with influential people in your industry. Luna: That's a smart point. The show itself generates social capital. But what about the risk? If you invest in a network and it doesn't take off, you've burned a lot of budget. Lucas: The risk is real. I'd say the biggest mistake is launching without a clear distribution plan. You can't just put episodes on your website and hope people find them. You need to leverage your existing channels — email, social, your own CRM. HubSpot promotes their shows in their newsletter, on their blog, and through their sales team. They treat it as part of the content ecosystem, not a standalone experiment. Luna: So it's less about podcasting and more about integrating audio into your overall content strategy. That feels like the real lesson. Lucas: I think that's it. A branded podcast network is not a silver bullet. It's a medium that works well when you have a clear audience, a consistent production schedule, and a way to measure business outcomes. HubSpot's case shows it can be done, but it took years of patience. Luna: Patience is something a lot of CMOs don't have. But if you look at the data, it might be worth the wait. Lucas: Yeah. And you know, this is exactly the kind of conversation that we try to have on this show every day — practical, specific, grounded in real numbers. It's also the kind of thing that a small group of our listeners tell us they find valuable enough to support directly. If these marketing conversations have sparked something you've actually used, a handful of listeners chip in monthly through buy me a coffee dot com slash fexingo, and that's literally what funds making this many of these. Luna: Yeah, it's a small group, but it makes a huge difference. Keeps us ad-free and focused on the content. Lucas: So, back to the network model — I think one of the most underrated benefits is the data you get. When you own the podcast, you own the listener data. HubSpot can see which episodes drive the most conversions, which topics resonate, and even which guests influence purchases. That's gold for a CMO. Luna: That's a huge advantage over sponsorship, where you get maybe a download number and nothing else. You don't know who listened or what they did next. Lucas: Right. And that data can feed into your ABM efforts. If you know that listeners from a certain company downloaded three episodes, your sales team can reach out with a relevant conversation starter. Luna: It turns the podcast into a lead scoring signal. That's a pretty sophisticated use case. Lucas: Exactly. And it's not just HubSpot. We're seeing more CMOs build internal podcast studios. A recent survey from Content Marketing Institute showed that 35 percent of B2B marketers now produce a branded podcast, and about 10 percent have multiple shows. The network trend is real. Luna: Ten percent doesn't sound like a lot, but it's growing. And those early movers are probably getting an edge. Lucas: I think so. The key is to start with one strong show, prove the model, and then expand. HubSpot didn't launch a network overnight. They built 'The Growth Show' for years before adding a second show. Luna: So the advice for a CMO listening today would be: don't try to build a network from scratch. Start with one show that serves your core audience, and treat it like a product. Lucas: Exactly. And measure what matters — not just downloads, but business outcomes. Because at the end of the day, a podcast network is a marketing channel, and it needs to earn its place in the budget. Luna: And if it does, you might end up with an asset that compounds over time. That's rare in marketing. Lucas: It is. And that's what makes it worth the effort.