Self-Help Instagram and Podcasts
Three trends in the self-help market as they relate to Instagram or podcast include the rising use of the internet for self-help social media (Instagram) marketing and content distribution, more personal coaches are using online podcasts, and the higher convenience and lower costs associated with the use of podcasts and online coaching.
- The U.S. self-help industry as of January 2016 was worth $9.9 billion, according to a report by MarketReseach.
- The report projected a 5.6% annual growth from 2016 to 2022, when the market is estimated to be worth $13.2 billion.
- In 2019, the above figures have increased and have now become an $11 billion industry in the U.S.
- This is corroborated by a PR Newswire report, highlighting the sales of self-help books, CDs/DVDs, audiobooks, and other services that have pushed the market to its present net worth.
Rising Use of the Internet for Self-Help Social Media Marketing and Content Distribution
- Self-help has been on the increase as a result of the advent of the internet. One of the major internet beneficiaries is people who depend on it to listen to their favorite self-help programmings through podcasts.
- The live training seminar market used to be a $400-$500 million dollar market but has seen a decline due to the popularity of webinars. The cost and time availability is a key reason for this.
- There are presently more than 700,000 active podcasts and over 29 million podcast episodes. According to an Apple report at WWDC 2018, the above numbers were once at 550,000 for active podcasts and 18.5 million for episodes. This shows a steady increase.
- Apps like Instagram are fast becoming trendy tools for self-help gurus who desire to pass motivational and wellness messages across to their consumers.
- Apple has added amazing and trendy apps for the self-care market.
- Jessica Castañeda, a health and wellness coach, with over 150,000 subscribers on her Instagram page, @easylivingtoday. She had a 71% increase in social media traffic according to a web traffic report.
More Personal Coaches are Using Online Podcasts
- The latest PriceWaterhouseCooper's and ICF study indicates that the U.S. coaching market was worth $955 million in 2015. Market data in 2016, was expected to reach $1.02 billion.
- Nearly all motivational speakers offer coaching lessons and the average annual earnings of a U.S. personal coach is $62,000.
- Personal coaches are using online podcasts and apps to broadcast their services to consumers.
- The trend of an increase in personal coaching in the self-help market is one that continues to see steady growth. This is because many coaches who were not aware of the power of the internet to broadcast their programs and services, either through podcasting or Instagram, have now come to realize its relevance.
- This is like others who have achieved consistent profit margins due to leveraging on the above technologies, self-help coaches will continue to be in demand and on the increase.
- An example would be the Daily Boost, daily coaching and motivational podcast channel on Player FM. The channel is dedicated to offering motivational content and has gained over 236,830 subscribers.
- This proves that it is a trend that is yet to rip its full potential in the lives of its users and it is on a steady growth. As an added note, podcast revenue is on the rise from $402 million in 2018 to $514 million in 2019, reflecting a consistent growth.
Lower Cost and with More Convenience
- A larger percentage of consumers are finding it cumbersome to travel for a seminar or a retreat. Taking some days off work, paying registration fees and booking hotels can be quite expensive as they run into thousands of dollars.
- Consumers prefer to have access to their personal development programs 24/7, all from home with no need to travel. This makes it cost-effective and convenient.
- Gurus are also able to reach more people cost-effectively and profit even more.
- Smartphones are the number one medium for podcast consumption according to a report. That said, the usage of the device to listen to programmings through podcasts is an example of the trend of convenience and cost-effectiveness.
- 45% of podcast listeners are more likely to earn $250,000 in annual income, due to listening to podcast programs. Hence, this is a trend that will only see a lot of increase in years to come as people can get courses online, and achieve set goals by just attending seminars or taking courses through podcasting.
The following trends in the self-help market related to the use of podcasts and social media were identified in a recent report by MarketResearch. Additionally, they have been corroborated with other content sources and market reports, including content sites like Writer’s Access PR Newswire, and SimilarWeb. This allowed us to establish them as trends while juxtaposing the findings with facts from the industry market reports, thus, they are considered current trends.
The internet as a trend has contributed largely to the growth of podcasting in the U.S., and as a result, various self-help gurus have emerged. They continue to populate the podcast space with self-help programming that will add value to their consumers.