Today I tried the iPhone Voice Memos for the first time and recorded a meeting that lasted for 55 minutes. To get access to the voice memo file you need to sync the iPhone with your computer using iTunes. iTunes has a special folder called Voice Memos. The resulting file was in m4a format and it was about 110 MB. Way too large to share. iTunes does not offer a way to compress audio files. You can use GarageBand to convert it to a mono MP3 and in my case the resulting file was only 12 MB (almost 100 MB smaller – not bad).
In GarageBand select Podcast project, and from the Audio tab drag the m4a, then choose the Save Podcast to Disk from the GarageBand’s Share menu. There is no need to download, try or buy one of the countless audio converters that you may find on the web. GarageBand does a great job.