Use Your Outside Voice: Podcasting and Thought Leadership in Financial Services

Leah Alter [00:00:10]:

Hi there, and welcome. Thank you for joining us. I'm Leah Alter. And I'm Joanna Ehresman. And this is WomenShare, a marketing guide for women in financial services.

Joanna Ehresman [00:00:22]:

Today's conversation It's going to be so much fun because today is all about using our outside voice. Sara Lohse, founder of Favorite Daughter Media, our guest, and she's an expert on all things podcasts, from using podcast guesting to build your business to how to launch and maintain a successful podcast. In addition, she helps her clients develop thought leadership strategies and their personal brands. Plus, as you'll hear in her story, she also knows a thing or two about financial services. In fact, Sara is the person we turn to in developing this show. So, Sara, Welcome to WomenShare, and we are so happy to have you here.

Sara Lohse [00:01:00]:

So happy to be here. Thanks for having me.

Leah Alter [00:01:03]:

A little inception, and we love it.

Sara Lohse [00:01:06]:

Know. I'm usually on the other side of the show.

Leah Alter [00:01:10]:

Well, you've taught us well, so we had to have you on. And you're sort of the perfect guest for us. Right? Your career has been an interesting intersection of marketing and financial services. We actually met through a mutual colleague and client, and set up a call to talk about 1 thing, but ended up spending our time talking a lot about podcasting. And this Show was something that I was actually already noodling on at the time. Cut to a few months later, here we are. And you were such a big inspiration just for me personally from going from I have this idea for a podcast to the reality, which is We have a podcast. And, you know, so you're a big inspiration for for us being where we are and and so excited that you're here.

Leah Alter [00:01:58]:

So can you talk us Through a little bit, about your professional background, how you kind of got to where you are now doing what you're doing with podcasting.

Sara Lohse [00:02:08]:

Yeah. And wow. You're so nice to me while we're recording.

Leah Alter [00:02:13]:

That's while we're recording? No. They

Sara Lohse [00:02:17]:

No. You're always nice. Yeah. So I was in the financial services industry For 3 years, I had started my career in marketing and advertising and ended up taking a job as the marketing manager for, a financial advising firm. And while I was there, they'd already had a podcast that I kind of took over as the producer for. So I was executive producer for a podcast that, we ended after 5 seasons. And I learned everything that I know by Jumping into this industry and getting on that side of podcasting and how we can use it to build a business, How it can be used specifically in the financial services field, which can be very different and very difficult to use Certain types of media because of all of the regulations and all the compliance. So I was able to really learn how best to do it and how to use strategies like podcast guesting and lead generation and all of these different tools.

Sara Lohse [00:03:18]:

So, eventually, I Kinda took the leap, launched my own company, and now I specifically focus on launching podcasts and helping people guest on shows. And I just kind of have that niche within finance because I know things about money now At this point, I was in it long enough that a few things kinda stuck, so, it became my niche.

Joanna Ehresman [00:03:41]:

And that's really interesting because I think it's, You know, what we loved about working with you as marketers is you are also a marketer in addition to your podcast expertise. So You just really, I think, have this nice mix of thinking about the overall like, how does this fit into your marketing plan, not just what makes a great podcast in terms of content. So It's been it's been so fun working with you. Okay. So with favorite daughter media, you invite people to use their outside voice. So tell us more about what that means and, specifically, how would that apply for women in the financial services industry?

Sara Lohse [00:04:15]:

So in general, I always think back to when we were kids, and we're just constantly being told to use our inside voices. And sometimes we're told that and we're not even inside. We're just always kind of told to speak softly, speak quietly. And I remember that feeling when I was a kid and I would be told to use my inside voice, but I'm just so excited about what I'm trying to talk about that I feel like if I use that inside voice, I'm just gonna bubble over. Like, I need to just yell about it. I need to be loud. And I'm just so excited and so passionate that I can't be quiet. And that whole idea is something that I want people as adults To really embrace.

Sara Lohse [00:05:01]:

And when they find that topic that they're really passionate about, I want them to be loud. I want them to share it and talk about it whether it's into a microphone, whether it's on a podcast, on a stage, in a book. Whatever it is, how can we Translate that excitement that we had as kids into the things that we're doing as adults. And I think it can be really, really powerful In financial services, especially for women, because we all know this industry is so so, like, male heavy, And it takes a lot to use that loud voice, Ed, to make sure that you get heard as a woman. Because a lot of rooms that you're going to be in, a lot of tables you're gonna sit at, you might be the only one. So having that confidence and just that Permission that you give yourself to use that outside voice to make sure your voice is heard is so, so important.

Leah Alter [00:06:02]:

I love that point too because we had a guest on, a few episodes ago, Kristen LeClaire, who talked about how important it was In those initial interactions and new jobs and things like that about, you know, using your voice and standing up for what you believe in And how important is to do that early and often in your career. And I think that what you said just kind of Exemplifies what she's talking about, which is it's really, really important, particularly to your point if you're the, you know, The only woman in the room or at the table.

Joanna Ehresman [00:06:40]:

And I would also say that, Sara, as you were, you know, talking about what that means to you and you're passionate around it, like, We can relate to that with this show. Right? It was we've talked about very uncomfortable for me initially to be like, what place do I have of talking about this, but I'm but we're so passionate about giving women in the industry a voice that I feel that energy, like you said, where you just can't hold it inside and you need to I'm like, Screw it. Let's put the work out there. This is important. We'll see what happens. Who knows what will come up with this? Right? But I think as women, when we're tapping into those moments where we feel that energy Moments where we feel that energy too and, like, being attuned to that and doing something with it, acting on it. Like, put the work out there and and see what you can do to to help other women. So it resonates.

Joanna Ehresman [00:07:24]:

It totally resonates.

Leah Alter [00:07:25]:

Yes. Right along with the mission of the show. So you have experience in using both podcast production as well as podcast guesting to help build your brand and your business and your voice. How do you see those 2 strategies working independently and or together, specifically in financial services?

Sara Lohse [00:07:47]:

They are 2 separate strategies that can be really good both hand in hand and by themselves. And which 1 you wanna use and whether you wanna use either of them is really gonna be dependent on your goals, your personality, and what it is that you have to say. By itself, if you were to produce a podcast and we talk about these it's branded podcast. This isn't like a hobby show. You're not talking about Painting and all of the things that you do on the side, though you can feel free. But when it comes to a branded podcast, the whole idea is for it to help you grow a business. And there are so many things that you have to have in mind when you're doing that, but the biggest thing is To remember, you're not here to talk about your business. Branded podcasts are not the same as ads, and that's something that People sometimes get wrong.

Sara Lohse [00:08:42]:

So you wanna be focusing on the things that you value, and that's why I was so excited when you guys brought me this show because You already knew that. You are you didn't come to me saying, like, hey, guys. I want to advertise my business. Let's make a podcast. You came to me with, we want to help women get heard. We want to help women share their experiences and their stories, And that is exactly what I built my company for. So I was so excited about that. And using things like podcasting to share these stories and share these experiences and share the things that come that are kind of behind the scenes of your business, That's going to turn you into a thought leader.

Sara Lohse [00:09:22]:

And all of this, it comes down to thought leadership and making yourself an authority and finding people that wanna listen. Because once you have people listening, you're going to be able to really connect with them and get them to Change their behaviors or want to partner with you, wanna see you succeed. So on the production side, that that's where that magic lies. It's making sure that you're really pushing those values and those ideals.

Joanna Ehresman [00:09:51]:

Well and then with the guesting strategy. Right? So if you have a client who's Maybe not comfortable producing a podcast or putting out the content productively. Tell us more about podcast guesting and and how That can help grow the business. And, like, do you target certain types of podcasts, or how should someone think about that?

Sara Lohse [00:10:08]:

Yeah. Podcast guesting is Very similar in that, like, you wanna make sure you have those stories and that personality that makes people wanna Listen, and it's another way to get yourself into that thought leadership position. And It's an option that's a little less time consuming, which can be really good, especially in financial services. Y'all are busy. I know that for a fact. That's the first thing I learned is financial advisers do not have a lot of time. So when you're able to just guest on a show, it takes away a lot of the legwork, and it takes away a lot of the time that you need to budget for the show. So you can go on a podcast and share your stories and share your value and offer a lot of insights, a lot of information, and get people really interested in who you are, and that will get them to wanna look more into what you do professionally and how they can work with you.

Sara Lohse [00:11:05]:

So it's just another one that you just need to lead with that value. And the biggest difference is with a podcast, you have seasons and seasons to Get your listeners to know who you are and to get to know you to bring them through that know, like, trust process. But with guesting, you only have, like, 30 minutes. So you really need to know what you're doing. You need to go in with a plan and go in with all of these different pieces of value that you plan on offering so that you can make the most of those 30 minutes and use it to Market yourself and use it to market your company in a way that gets people to wanna listen.

Joanna Ehresman [00:11:46]:

Well, that makes a ton of sense. Yeah. And I'm, like, nodding along as I'm, like, well and it's interesting you mentioned the component about trust and when you do have a podcast that it builds Trust. I came from an organization where we had the OG version of podcasting. We had an AM radio show. Right? But it was amazing.

Sara Lohse [00:12:03]:

A what?

Joanna Ehresman [00:12:04]:

Yeah. I hope yeah. So once upon a time

Leah Alter [00:12:07]:

It's a dial you don't know about. Yeah.

Joanna Ehresman [00:12:10]:

When before your car had satellite radio. But but, you know, it we would joke that the founders of the firm were doing long form content marketing before that what they knew that's what that was. You know? They're just passionate about financial education. And so I do think specifically in a space like financial services where it's so much about building trust credibility, and people want to get to know what you're all about right before they start turning over their life savings to you. It can be a great strategy to put your voice out there. So aside from what you've covered so far, if because I of the advisers that I've talked to, I feel like so many people are considering, Like, maybe I should do a podcast. Right? They've got this energy. What what advice would you give to somebody at that stage? How should they think about it? How any tips on how to evaluate if launching a podcast is right for you?

Sara Lohse [00:13:01]:

There's a few things I would say to that. I mean, Deciding if it's right for you, you have to think about, a, like, your personality. Are you a talker or not? Because I've seen a lot of people that they wanna start a podcast, but they're not super comfortable talking. And I was also the same way. It took me a while. It took me a lot of Different, like, roots of practicing. And before I was comfortable, like, speaking into a microphone or public speaking in general, It's actually why I ended up bartending and serving, like, waiting tables in college. I did that to make myself comfortable talking to strangers.

Joanna Ehresman [00:13:36]:

Oh, interesting.

Sara Lohse [00:13:37]:

Yeah. Like, there's things that you don't really talk like, think about that are ways that you can make yourself more comfortable and more ready for something like this. Yeah. So There's different avenues of thought leadership that don't require speaking and public speaking and all of that. Like, you can go the publishing route. You can write. You can blog. But when it comes to podcasting, if you are comfortable talking, you're eloquent, and you have a lot to say, podcasting can be a really good fit.

Sara Lohse [00:14:04]:

And then from there, it's just gonna come down to how much time, energy, and money you have to put into it Because there are ways that you can do it completely by yourself. You can buy all the equipment, record yourself, edit it yourself, do all of it. It's gonna take whole lot of time and a whole lot of energy, and then there's the ways that you can do it where you hire a team and they handle everything. You sit down at the microphone, Talk for 30 minutes, and you're done. So think about what you have to invest in it because a podcast is an investment. It's not a tool for immediate revenue. It can be amazing for marketing, but you have to invest in it first, and it's kind of a long game. So if you have the time and the energy and you have the budget to hire people that can handle all of the technical stuff that you don't want to bother learning about, it can be really powerful.

Leah Alter [00:15:02]:

Well, he kinda answered the next question honestly,

Joanna Ehresman [00:15:06]:

Which was to talk about

Leah Alter [00:15:08]:

a little bit about resources that someone should plan for if they did, you know, want to launch a podcast. So Are there any specific I know it's hard to talk about specific budgets and resources and even human resources, but In general, for the financial services industry, are you seeing any sort of trends in terms of You need 1 person in your office dedicated to this with x amount of budget for equipment, x amount of budget for editing, things like that.

Sara Lohse [00:15:40]:

It really is going to depend on the firm and the goals and because there's so many different ways that you can go about it. And you can do it the premier highest dollar way. You can fly to different studios around the country to talk to different people. Like, there's you can do it, like, the cat daddy version, Or you can do it like, set up a recording space in your office and do it this way where you talk to people all around the world, but you do it it's almost like it's on Zoom. So it really depends on how much you wanna put towards it. I usually recommend starting small. Whether you are a big firm with 1,000,000 in marketing budget or you're just 1 person by yourself, The 1st microphone you buy shouldn't be the $1,000 microphone. The 1st camera that you buy shouldn't be the $1,000 camera.

Sara Lohse [00:16:31]:

You should be starting small, Doing it the kind of low budget way of this microphone will give me good enough sound quality that'll sound professional, and this camera will make me look clear. This will do. And to see if you even like it because you might not. And I don't like I have ADHD, so the amount of Hobbies I have invested in that I have not touched since I bought everything possible. If anyone needs, a hand embroidery kit or anything to make clay jewelry. I've got all of it. It's not been opened. So it's the same thing.

Sara Lohse [00:17:07]:

Like, you might not like podcasting. You might not like this media. It might not be for you. So start small. Bring in the professionals to do the things like The editing, the audio engineering, things that you don't need to know about. There's no reason for financial advisers to know how to edit a podcast. So bring in professionals for those pieces to get you to a show that still looks and feels professional, But it doesn't have to be a $1,000,000 project.

Leah Alter [00:17:38]:

Yeah. I mean and honestly, had we not worked with you And tried to figure all of this out on our own. I think we still would have been in, like, Stay infant, you know, infant stages of this. We certainly wouldn't be, you know, already out in the world. Absolutely not. Just because it was a whole new world for us. Even as marketers, we know how to market this podcast. Right? Like that, we we know how to do.

Leah Alter [00:18:09]:

But in terms of yeah. What what's the best equipment? What are the best platforms? Me trying to learn how to edit probably just wasn't ever going to happen. So I think knowing what you're good at and what you like to do And what you already know how to do is, like, step 1, and then it's yeah. To your point, okay. How much is it gonna cost? How much do I need to budget and invest in so that I can have professionals help me do all the other stuff that it takes. And and working with you guys has been, like, a game changer for that for us.

Sara Lohse [00:18:43]:

Well, thank you. We do our best. But with things like this, you when it is a branded show, you need it to be a reflection of your company. So for financial advising firms, you want it to look as high budget as possible because you're trying to attract high dollar clients. So that's an another thing that goes into how much you spend on it, but there are ways that you can do that that are Affordable for modest budgets. I think podcasting is honestly one of the most affordable medias. It's something that Anyone can do. You all you really need is a microphone, and that's why I love it so much because you can put Almost no money behind the marketing of it, but with enough, like, SEO power and social media, you can reach people all over the world, And that is amazing.

Sara Lohse [00:19:36]:

I have not seen or I don't personally know anyone still using, like, television ads to grow their business, but that is not affordable for most people. I personally don't plan on buying a Super Bowl commercial For favorite daughter media, you will not see me at the Super Bowl, but I'm still able to grow based on what my budget is by just doing it strategically. And podcast is one of the most strategic ways you can do that in my opinion.

Joanna Ehresman [00:20:03]:

Well, and I think it's interesting even your concept of, Like, graduate to the next levels of technology. Similarly, if you're thinking about, hey. I'm launching this podcast kind of Proof of concept asked. Right? And you're outsourcing, then maybe at some point in time, it's showing enough traction. You're building it into a larger thought leadership Strategy that there are some components you decide to bring in house. Right? Whether it's designers or producers or that sort of thing. So I think the Iterative approach to how you think about it and not this is going to be a corporate term. Don't try to, like, boil the ocean right right away.

Joanna Ehresman [00:20:37]:

Like, don't get so, Like, excited about it that you think you have to nail it, from at the high end budget from the get go. I've you coached us a lot on that, and I just think it was really valuable.

Sara Lohse [00:20:48]:

Yeah. It's kind of that idea of don't let perfection stand in the way of greatness. You can create a really great show if you're not worried about creating a show that is perfect.

Joanna Ehresman [00:20:57]:

Mhmm.

Sara Lohse [00:20:57]:

And what is great for 1 person is is different than it is for somebody else. So the most important thing you wanna remember is Create a show that you would wanna listen to and bring on guests that you wanna talk to. Cover topics that you wanna talk about. Because if you're not enjoying it, if you're not having fun with it, if you're not laughing while you're interview interviewing your guests, what are you doing? Like, why why are you doing this? And I remember when you guys recorded your trailer, and there was a point, Leah, that you laughed or, like, we could hear you smiling when you said something. And we like, every single time we listen to it during the editing process, we would smile because you can, like, you can hear emotion. And so when you're able to speak on a podcast with authentic emotion, it makes it more fun and more, like, relatable to listen to.

Leah Alter [00:21:56]:

Well, and I think Joanna and I had that conversation early on too, which is, yes, this is a professional podcast. We're both professionals that, You know, run marketing companies and all of that, and we want it to be really real. So we're actually Embracing the the nonperfection of it all, of every episode, of every conversation, the glitches, the All the umms. What what does Larry call them? The grammatical grunts.

Joanna Ehresman [00:22:27]:

You're gonna hear grammatical grunts.

Leah Alter [00:22:29]:

All all of that because we know that that is That's real, and we want you, the listener, to know that it's still valuable even if it's not perfect.

Sara Lohse [00:22:42]:

Yeah. Authenticity is what fuels human connection, and podcasting is all about that connection. And it's It's so important. And, I mean, so my business partner is Larry Roberts, and he's the one that actually does all the editing and production for your show. And we talk about this all the time whether it's on our show, Branded, or in meetings with you guys, but the most important thing you need to Do while you're recording a podcast is just be yourself. Because if you're trying to be what you think a professional is supposed to be, You're it's just going to be really fake, and people will see through it. And we all get to define what professional is to us. I would rather talk to somebody who I feel like I can relate to and who I can laugh with and be comfortable with, but has proven that they know what they're doing and they have that in those insights and they have that Genuine just, like, knowledge about it, then talk to the person in the suit who is just going to nod and smile and Give tell me what I wanna hear.

Sara Lohse [00:23:50]:

Authenticity is so much more valuable.

Joanna Ehresman [00:23:52]:

As as we were talking about, people can hear BS. We'll leave it at there. We won't we won't say the phone. You can't just smell it. You can hear it.

Sara Lohse [00:23:59]:

You can hear it, and it's on on heat especially on high definition microphones. You're gonna hear it.

Joanna Ehresman [00:24:07]:

So, Sarah, when we first talked met with you to talk about the Concept for the show. You were on board, not just as a producer, but as a woman in the financial services industry. So What was it about this concept that sparked something for you?

Sara Lohse [00:24:22]:

I think it was just I had been producing podcasts in finance or I've been working with other podcasts and other content creators, and what y'all were trying to say was something that I felt was really important. And I had been in finance for so many years, and I actually was lucky enough to work at a firm that did have a large female presence and female leadership, and they've won several awards for Having the those female leaders in place, I've gone to events with other firms, and I've seen like, oh, I'm kinda spoiled because this is not the norm, and it's it's tough. It's tough to be in those environments. It's tough to be the only woman in the room. And, especially, I mean, I'm 28. I was I started in finance at 24, and it's hard to be taken seriously. So I think a show like yours that puts Women more into the driver's seat and gives them the opportunity to talk to other women because that's what's most important. It's representation matters.

Sara Lohse [00:25:38]:

So there might be all of these women in power and in leadership, but If they're not talking about it, if they're not sharing their experiences and giving other women tools and advice to help them, They're only kind of fighting half the battle, so I think talking about it is the part that is so important. Yes.

Joanna Ehresman [00:26:01]:

Yes. Sorry. Absolutely. Well, I'm not up in slow clap to them.

Sara Lohse [00:26:06]:

If my mic wasn't on a arm, I would drop it.

Joanna Ehresman [00:26:11]:

There you go.

Leah Alter [00:26:12]:

Well and I think that's a great lead in for the next question, which is what is the best advice that you've in your career.

Sara Lohse [00:26:20]:

So I don't know if this counts because it wasn't personally said to me, but Austin Kleon, who I talk about constantly because I am obsessed, he is the author of steal like an artist, but one of his other books is called show your work. And that book is so powerful for anyone in This position, anyone that's trying to become a thought leader, anyone who has something to say, who wants to use their outside voice, Just show your work. And what he means by that is the only way you're going to gain attention, the only way you're gonna Find an audience is if you start sharing. So you have to talk about these things you're passionate about. You have to start the podcast, write the blog, Post on social media. Put the work and your thoughts out there for others to see because you can have all of these fantastic ideas, have all these Great thoughts, but without showing them and without talking about them, nobody's ever gonna know.

Joanna Ehresman [00:27:21]:

Yes. Sorry. All of this is resonating. I'm just like it's so, Like Leah said, inception, but it's related to the journey we've been on. Anyway, it it's yes. Show your work. And who was that? Sorry. Who was the author?

Sara Lohse [00:27:33]:

Austin Kleon, the amazing author of, steal like an artist, show your work, and keep going are his 2 Really powerful business creativity books.

Joanna Ehresman [00:27:45]:

Oh, love it. Gonna have to check those out. Okay. So then similar, I guess, question or along the same vein, but specific to women entering the financial services industry. Any advice you know, if you're sitting across the table from a Young woman who's considering coming into the industry, what advice would you give?

Sara Lohse [00:28:02]:

So my advice is gonna be a little different than what you'd probably hear Because of the fact that I am not a financial professional. And I was director of marketing for 3 years, And one of the reasons that I left was because I didn't feel like I could be myself. Because of being a financial professional is Kind of a personality that they expect you to have, and they expect you to be polished and kind of buttoned up and wear neutral colors and tucked in polo shirts, like casual Friday, like, all of these things that are just so not me. So I ended up leaving the industry because of that, because I wanted to give myself permission to be myself. And I launched my company as a way that I could give myself that permission, and I still am able to work in finance and have that as my niche and work with financial professionals, but as myself. So I think the advice I would give is if you find yourself in a room or at a table where you don't feel like you're allowed to be you, find a different room. Find a different table.

Leah Alter [00:29:09]:

So good.

Sara Lohse [00:29:10]:

There are so many different people in the world. There are, like, all kinds of kinds. There are industries. In any industry, you can find a group that you resonate with, so find it. Don't put up with the BS of Yesteryear and the harassment and all of this stuff that people think is like, oh, this is fine because it's what we've always done. It doesn't have to be. So find a room that lets you feel comfortable and stay in that room, Or if you have to stay in the other room, change it.

Leah Alter [00:29:46]:

Brett, this has been so great. We wanna give you an opportunity to share with our listeners Where they can go and learn more about favorite daughter media as well as branded podcast. Where can people get more, Sarah?

Sara Lohse [00:30:00]:

Oh, there's so much of me to go around. My website is favorite daughtermedia.com and all of my contact information, and I've got some free downloadable ebooks for y'all, and Anything you want for me is right there, and I am the cohost of Branded, which is a comprehensive guide to creative branding. And that can be found at listen to branded.com. It features my amazing cohost and business partner, Larry Roberts, and I would love for y'all to check it out.

Joanna Ehresman [00:30:29]:

Excellent. Well, this like Leah said, this has been so much fun. Thank you for being here. You are on our guest list from day 1. We've learned so much from you, and I hope everybody listening has Learned a lot. One more plug for Brandon. If you are curious about where the name favorite banner media came from, tune in. They Cover that in their podcast.

Joanna Ehresman [00:30:47]:

So it's a great marketing listen for experienced marketers or people who have no familiarity with branding. So that's our show for today. If ours is a mission that you would like to join in. Please do us a favor and subscribe to Women's Share on your favorite podcast platform. With that, I'm Joanna Erisman.

Leah Alter [00:31:06]:

And I'm Leah Alter, and we'll catch you on the next episode