Tag Archives: business

How You Can Make Money With A Podcast That Is Free – Episode 167

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How You Can Make Money With A Podcast That Is Free – Episode 167

8 business models to make money with a podcast
Copyright: nexusplexus / 123RF Stock Photo

One of the most popular and controversial questions in our industry is, “How do I make money with a podcast?”

The question is popular, because many podcasters hope to monetize their content. That desire ranges from simply covering the costs associated with producing the show to making more than an average annual salary each month.

Earning money with an online business is a desire of many budding entrepreneurs. Podcasting is a great way to begin sharing your message.

The controversy arises between those who want to make money and those who see it as a hobby where profit is unnecessary. The fans of the hobbiest approach often wonder why people think it is so important to make money with your show.

Making money isn’t necessary. It also isn’t evil.

Both sides of the debate can be correct. It is all about your point of view.

 

THE POWER OF “FREE”

Today, we are taking the monetization route.

Much of the information I want to share with you on this episode is derived from a great book called “Free: The Future of a Radical Price” by Chris Anderson.

 

If you would like to purchase the book, I would truly appreciate it if you would find it through this affiliate link. It is a great read.

 

 

You have worked hard to develop some great content. The show is beginning to attract an audience. How can we turn this great podcast into a business?

First, let’s make one thing clear. As you develop your podcast, understand that it is difficult to have the show itself be your sole source of revenue. Sponsorships and donations can only take you so far. Your inventory and sources will be limited.

Making your podcast your lone revenue source is possible. However, it is limited to the biggest of the big podcasts. Most podcasters needs another revenue stream.

How do we create other streams of income using our podcast?

 

STREAMS OF INCOME

 

We need to be creative. Once we start creating some unique ideas, you will see many others begin to open for you.

In this episode, we are going to devise various opportunities to generate revenue using your free podcast. Each of these ideas uses a different approach. You can tailor each approach to your niche and passion.

The foundation of the book “Free: The Future of a Radical Price” centers on using a free product or service to create demand for a paid product or service. The concept is similar to the lead magnets you see quite often in online business.

You are producing a podcast that is free for your listeners. How can we use that free product to create demand for a paid product or service?

We are not going to cover all of the ideas in Anderson’s book. There are 50 different business models. We will only review part of one section. You can find all of the ideas in the book using the link.

 

 

Section one is called “Free 1: Direct Cross-Subsidies – Any product that entices you to pay for something else.”

This secion will give us a few business models to discuss. These should give you a few ideas to get your creative juices flowing.

 

BUSINESS MODELS

 

1. Give away services, sell products

Book example: Apple Store Genius Bar tech support

Podcast example: Your podcast explains how to set up and use products and then sells those products online

Podcast example: Your podcast provides content and information, sell books, CDs and DVDs about that information

 

2. Give away products, sell services

Book example: Free gifts when you open a bank account

Podcast example: Giveaway e-books, sell individual coaching

Podcast example: Giveaway podcast info, sell webinars and seminars

 

3. Give away software, sell hardware

Book example: IBM and HP Linux offerings.

Podcast example: Podcast explains how to use the software and provides free downloads, sell hardware to use that software

Podcast example: Podcast explains how to plant a garden/get a better shave/paint, sell the supplies

 

4. Free with purchase

Book example: The loss leaders you see at many retails stores.

Podcast example: Free podcast, bonus audio subscription with purchase

Podcast example: Partial inteview in podcast, collection of interviews free with purchase of book/course

 

5. Buy one, get one free

Book example: The supermarket specials

Podcast example: Free podcast on a related subject with purchase of subscription to site

Podcast example: Two tickets/courses/memberships for the price of one (it’s all info)

 

6. Free gift inside

Book example: Cereal boxes

Podcast example: Podcast directs listeners to free download each episode, which puts listener on a mailing list that can be monetized over time

Podcast example: Podcast listeners use code to access bonus information inside of a membership site

 

7. Free samples

Book example: Everything from gift boxes for new mothers to supermarket samples

Podcast example: Podcast is a portion of a larger recording for sale

Podcast example: Giveaway a free chapter of the book with code word/url included in the podcast

 

8. Free trials

Book example: Magazine subscriptions

Podcast example: Podcast is a smaller portion of a membership or course

Podcast example: Podcast highlights the “what” and directs listeners to the “how” on the website or inside of a product

 

Those are 8 of the ideas in this first section. You can actually get 16 ideas in the direct cross-subsidies section alone. There are 50 business models built on free in the appendix of the book. It is well worth the time.

 

Free 2: Three-party markets – A third party pays to participate in a market created by a free exchange between the first two parties

Free 3: Freemium – Anything that is matched with a Premium Paid Version

Free 4: Non-monetary markets – like Wikipedia and Freecycle.

 

Find my affiliate link to the book here:

 

 

I would love to know how you are using the power of free to drive your business. E-mail me any time at Coach@PodcastTalentCoach.com.

You can find my podcast and other tools to help you create great content at www.PodcastTalentCoach.com.

 

Let’s turn your information into engaging entertainment.

Other items mentioned in this episode:

Podcast Talent Coach Coaching

Podcast Talent Coach Survey

Steps To Create New Podcast Relationships – Episode 160

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Steps To Create New Podcast Relationships And Grow Your Audience – Episode 160

Create new podcast connections and relationships
Copyright: madpixblue / 123RF Stock Photo

In the recent weeks, I have really found a new energy. My productivity has increased in both my podcast and business. I believe this is all due to new relationships I have created in the mastermind I recently joined.

The mastermind was formed through connections I made as a member of Internet Business Mastery. (Find my affiliate link HERE.)

These three guys are in online business, but completely different niches than me. They hold me accountable and push me to succeed. It has been a great experience.

Over the next few episodes, we will dive deep into the process of creating new relationships.

This week, I want to help you develop new relationships. Though I have found the experience very helpful, your new connections do not need to include a mastermind.

In the next episode, we will discuss making connections at events.

The third episode of the series will involve masterminds and a list of listeners’ favorite podcasting events.

 

If you are interested in getting connected to like-minded people in a mastermind, e-mail me. I’ll try to connect as many as I can.
Coach@PodcastTalentCoach.com

NEW RELATIONSHIPS

Let’s talk about the five steps to create new relationships.

1. Find New Relationships

  • Get involved with Facebook groups by answering questions
  • Join podcast memberships, like Podcasters Society (of which I am a mentor) and School of Podcasting (led by Dave Jackson, with whom I occasionally partner)
  • Network at conferences
  • Ask your interview guests
  • E-mail hosts of complimentary podcasts that are not in the Top 10 or “On Fire”
  • Invite your listeners to chat and ask them
  • Interact on blog posts
  • Form a mastermind with people from other industries, both in person and online
  • Ask your vendors or suppliers
  • Connect with your customers

2. Make Contact

Introduce yourself with “I help _(niche)_ do _(talent)_ so that _(benefit)_.”
Send an e-mail with, “I find your business/podcast/product interesting. I would like to learn more about it and see if there are ways we might help each other. Would you have 30 minutes for a phone call?”

3. Find Ways To Help Each Other

Use the abundance mentality. There isn’t one pie that needs to be divided between everyone. There is a flame that can be shared an unlimited number of times. That is the power of an idea.

4. Stay In Contact And Give

  • If it isn’t on your calendar, it will not happen
  • Find reasons to make contact with your new friend, and schedule that contact
  • Share useful articles
  • Share affiliate opportunities
  • Wish them happy birthday
  • Ask if they are attending conferences you are attending
  • Interact in their groups – Everyone is looking for engagement

5. Create mastermind groups

  • When you find the right 3 or 4 people, create a mastermind group
  • Find people with different backgrounds and perspectives
  • Give the group structure
  • Shape it in a way that will help everyone
  • Check out Dan Miller’s mastermind course HERE.

Do you need help with your podcast? E-mail me any time at Coach@PodcastTalentCoach.com. Let’s see what we can do.

You can find my podcast and other tools to help you create great content at www.PodcastTalentCoach.com.

Let’s turn your information into engaging entertainment.

6 People Who Can Help You With Your Podcast – Episode 152

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6 People Who Can Help You With Your Podcast – Episode 152

Copyright: trueffelpix / 123RF Stock Photo

Surround yourself with the best people and success can be had.

Over my years in radio, I learned time and again that I could accomplish so much more by getting help and mentoring from the right people. As I ventured into podcasting, I quickly found the people that could mentor me and help me move forward toward my goals.

Today, I want to share with you a few people I think might be able to help you on your podcasting journey. Some I know personally and work with closely. Some have mentored me from afar through their work and resources.

Whichever method you choose to use, find the people that can help you get to your goals quicker and achieve more than you ever thought possible.

Here are 6 people who can provide help with your podcast and business. [Some are affiliate links of people who I use and endorse.]

School of Podcasting – Dave Jackson

The first person I want to introduce you to is Dave Jackson at School of Podcasting. If you have listened to my podcast for any length of time, you have heard me mention Dave. He has been my mentor, helping me learn the technical side of podcasting.

Dave’s coaching and tutorials have helped me more than anyone I have encountered.

My podcast actually started out as a blog. Back in early 2012, I was writing about the art of podcasting while learning the technical side and preparing to launch my show. Less than four months into it, my writings were being published on the New Media Expo site.

Shortly after I began writing for New Media Expo, Dave saw my stuff and reached out. Dave was already on my radar, because I had discovered his website when I was doing my original research. I simply hadn’t considered reaching out to a guy who had been doing it for about 7 years at that point. He was there near the beginning.

Dave’s gesture reaching out to me was a fantastic surprise. We had a great conversation that lasted about an hour. Here was a guy that had been podcasting since 2005 that just wanted to get to know more about what I was doing and how we might help each other. That is what I absolutely love about podcasters.

The conversation eventually led to a bit of a partnership. Dave and I kept in touch working on various ideas together. We met up at New Media Expo a few times. Finally, we teamed up when I joined Dave’s “Podcast Review Show” podcast. We review podcasters and help them improve.

[You can appear on the Podcast Review Show and get reviewed HERE.]

Prior to that partnership, Dave help me multiple times with my website, podcast, and technical aspects of my show. He has truly been there and done that. Dave knows his stuff.

If you have questions about your feed, website or other technical aspects of your podcast, I highly recommend you use Dave’s knowledge and tools. He does some one-on-one coaching. He has resources on his website. You can also get deal on gear through Dave.

[Find information on Dave Jackson and the School of Podcasting HERE.]

Audacity to Podcast – Daniel J. Lewis

Daniel J. Lewis is another podcaster that helps people launch and improve their own podcast. He shares his knowledge of the audio software Audacity and web platform WordPress. You’ll learn all about equipment, software and skills necessary to podcast. His show was named the #1 technology podcast in 2012.

Daniel and I met through Dave Jackson. After following his show for quite some time, Daniel and I finally met at New Media Expo and have since developed a bit of a relationship.

The thing I love most about Daniel and Dave is their honesty and flexibility. They won’t push you toward their favorite microphone. They will give you honest reviews and options that fit your needs. For instance, do you want or need a $60 microphone or $360 microphones? They teach you the differences and why.

Daniel has a great lead magnet called “20 Things You Should Do Before Every Podcast Episode.” You learn how to get the room quiet, how to prepare, what tools to gather and more. He calls it his preflight checklist. This will make your recording session so much more efficient.

If you are serious about podcasting, check out Daniel’s Podcasters’ Society. This is a group of great podcasters together in a learning and sharing environment that can really help you improve your show. Daniel and I are discussing making some of my material available within Podcasters’ Society each month. Give it a look.

[Find information on Daniel J. Lewis’ material HERE.]

The next few guys are just a few of the guys I have used as a long-distance mentors. The books and material written by these guys have done more for my business and career than anyone I can name.

48 Days to the Work You Love – Dan Miller

Dan Miller and his book 48 Days To The Work You Love is where my journey began. Dan inspired me to pursue the work that I love. I originally discovered Dan and his work by listening to the Dave Ramsey Show.

If you are looking for your purpose, check out Dan’s material. He is a true entrepreneur.

The thing I love about Dan is his simplicity. Dan isn’t knee-deep in technology, like a lot of online business people. Though he has embraced the digital landscape more recently with the launch of his membership site, he is more about creating simple money-making opportunities that are right in front of us.

Whether is it reselling cars, selling digital content or running a gym, he has done it all. Dan can see a business opportunity anywhere. He has great tools to help you find your passion and the work you love.

Dan’s most popular resource is “48 Low or No Cost Business Ideas”. These are great. When you read this e-book, you’ll say to yourself, “Why didn’t I think of that?” Dan has great ideas. The inspiration is a huge bonus.

[Find information on Dan Miller’s material HERE.]

Internet Business Mastery – Jeremy Frandsen & Jason Van Orden

Jason Van Orden and Jeremy Frandsen at Internet Business Mastery have great information to help turn your knowledge into a business. I first discovered them during a session at New Media Expo. That presentation turned me onto their podcast.

Internet Business Mastery is not only a great podcast, but a course that has helped me refine my business focus. Both Jeremy & Jason have launched various other businesses. They have been there and done it.

In the Internet Business Mastery Academy, you learn how to develop your ideal freedom lifestyle. That leads into your freedom business blueprint. You learn how to design your single motivating purpose, create your money magnets, develop your list and more.

This has been one of the best investments I have made. The course has really refined my business plan and philosophy. If you are building an online business, this material can help you move you forward.

[Find information on Jeremy, Jason and Internet Business Mastery HERE.]

Platform University – Michael Hyatt

Michael Hyatt and Platform University have helped me organize my message and build my platform.

I like organization. Checklists are my friend. Step-by-step processes that allow me to add some creativity on top of it are tools I enjoy.

Michael Hyatt has a great membership site with Platform University. It is based on his book Platform, which is a must read as you develop your podcast. There is great learning inside the community. He only opens membership a couple times a year for enrollment. I got in early on this one and haven’t looked back since.

Inside Platform University, you will find Master Classes where Michael interviews other experts to dive deep into various subjects each month. In the Backstage Pass area, Michael shows you how he operates his platform. There are live member calls each month, member makeovers and so much more.

There is so much information inside Platform University, I don’t have enough time to get through all of it each month. I use the great material I find most useful and dip into the other stuff when I find time. When I have questions about specific topics, I can usually find the answer inside Platform University.

[Find information on Michael Hyatt HERE.]

 

There you have six people who can help you move your podcast and business forward.

Dave Jackson can help you with the technical aspects of your show.

Daniel J. Lewis has tools that can help you with your software, skills and search for your show.

Dan Miller can help inspire you with new ways of thinking about business. Find what you love.

Jeremy Frandsen and Jason Van Orden at Internet Business Mastery can help you lay an amazing foundation for your purpose and business.

Michael Hyatt can help organize your work to help you be more efficient in building your platform.
Do you need help with your podcast? E-mail me any time at Coach@PodcastTalentCoach.com. Let’s see what we can do.

You can find my podcast and other tools to help you create great content at www.PodcastTalentCoach.com.

Let’s turn your information into engaging entertainment.