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Your podcast serves a variety of purposes in the life of your listener. All podcasts need to entertain. But your podcast needs to specifically solve the struggles and problems of your ideal listener.
If you have a true crime podcast or a comedy podcast, the problem of your listener is probably escapism. They simply want to get away from their everyday troubles for a bit. Help them do that.
When it comes to making money with your podcast, you need to figure out how to create a product or service that helps solve those struggles and problems. On your podcast, tell your listeners what to do to solve their problems. Then, offer to teach them how with your products and services.
I would love to invite you to a free training with me. It is a workshop designed to help you find your idea. It is “How To Attract Your Ideal Clients and Make Money With Your Podcast”.
This free training will happen on Thursday, December 31st to help you kick off the new year. Get all the details at www.PodcastTalentCoach.com/growth.
I would love to see you there and help you discover how to attract your ideal clients with your podcast. Get signed up and come join us.
THE PLAN
This is the fourth episode in a series designed to help you create a plan to make money with your show. These shows will take you from plan through execution.
I can’t guarantee that you will make money, because only you know your niche, drive and work ethic. You control your destiny.
We started in the first episode with your 2021 podcast roadmap. Then, you learned how to clearly define your target client and listener. Last week, you discovered 7 places to find your client.
Now that we’ve found your ideal client, how to we convert them from prospect to customer? A client is someone willing and able to pay for the thing you have to sell at a price that you are willing to sell it.
How can you create that willingness? Solve problems.
FREE PODCAST
You are trying to make money with a free podcast. Listeners aren’t paying to listen to your show. We need to figure out how to make money with a free product.
Many podcasters feel the only way to make money with a free show is to load it up with ads and sponsorships. I completely disagree. That is the last option you should consider.
There are three big reasons sponsorships are wrong.
First, people are leaving traditional media to escape all of the ads. Why would you clutter up your show with a bunch of ads if your audience is trying to get away from the commercials?
Next, it takes a lot of time and effort to land sponsors. There are over one million podcasts. The average audience size isn’t big enough to generate big sponsorship revenue. You need to kiss a lot of frogs to find that prince.
Finally, there is a limit to the revenue. How many sponsors can an episode possibly handle … four or six? There is a ceiling. Lots of work for limited income.
OPTIONS
Let’s talk about the other options. What happens if you use the show to market your products and services or those of affiliates that solve the problems of your listener?
With products or services, you keep your show clean from the ads. Instead, you provide value to your listeners every episode. Then, you tell them how to get more value with your stuff.
When you promote your products and services instead of using sponsors, you do the work once and make money with every sale. Sponsors pay you once. When you spend the time to create a course or program, and you can sell it over and over.
Finally, you can theoretically sell a digital program an unlimited number of times. You market the product or service once on the show and who knows what the revenue potential could be. It all depends on the value your stuff delivers and how many people buy it.
You don’t make money from your podcast. You make money with your podcast. Use the podcast to market the thing you have to sell.
THE NEED
When we discussed defining your ideal listener, we talked about a few things that make your listener unique. We talked about what they need.
Your listeners have goals and pains. When you can help your listener reach those goals and solve their pains, you can find a solution to their problems that they would be willing and able to buy.
Revisit your ideal listener. What do they want and desire? Where are their problems? Clearly identify their goals. This is beneficial when it comes to building your revenue stream.
When you can clearly identify your listener’s needs, fears, and pains, you will be well on your way. People will pay more to get out of pain than they will pay to achieve pleasure.
People buy more aspirin than vitamins. More money is spent on doctors than gym memberships. More money is spent to fix cars than to pay for upkeep.
Help your listener solve problems and overcome struggles.
MONEY
So, how do you make money with a free podcast? Create a product or service that will help your listener solve those problems and overcome that struggle.
I am all in favor of multiple streams of income. However, you need to get one stream flowing before you can create multiple streams.
Find your listeners’ biggest pain. Create something they would be willing and able to buy. Then, offer to help them.
On your podcast, show the audience your ability to help them. This could be coaching, teaching, demonstrating or a variety of other ways.
Give them the what. Back it up with the why.
The why will be most powerful. The why creates the desire. When you uncover the true why, listeners see what is possible and understand that they need your solution.
Once you create the desire for a solution, tell your listeners what they need to do. The what is the solution.
Now your listener says, “Yes, I can see why I need a solution.”
You show them what they need to do. Your listener says, “I get it. How do I do that?” You sell the “how”, step-by-step.
People can spend time or money. Sure, most everything is available on YouTube. You can spend hours and hours searching for the solution. Or, you can spend a few dollars and have the solution now.
Smart people realize the investment of a few dollars to save a ton of time is money well-spent. This is especially true when you spend the time saved taking action to solve your problem. You are out of pain much quicker.
People pay for convenience. Those are the people you want to attract with your solution.
TRAINING
I would love to invite you to a free training with me. It is a workshop designed to help you find your idea. It is “How To Attract Your Ideal Clients and Make Money With Your Podcast”.
This free training will happen on Thursday, December 31st. Get all the details at www.PodcastTalentCoach.com/growth.
I would love to see you there and help you discover how to attract your ideal clients with your podcast. Get signed up and come join us.
Let’s turn your information into engaging entertainment. If you could use the help of a podcast coach, reach out. I would love to be that help.