Podcast: Play in new window | Download

Subscribe: RSS

The key to monetizing your podcast and building your business is determining exactly what your audience wants. Monetization is not built by getting your audience to buy what you have to sell. It is all about offering exactly what they want and are willing and able to pay to acquire.

One of the most difficult classes I took while getting my Masters in Business Administration was Managerial Economics. In that class, we learned all of the nuances that affected the economics of business.

In the end, it still came down to supply and demand. At what price is the seller willing and able to offer the product or service? At what point does that line intersect the point at which the buyer is willing and able to buy the product or service being offered?

That is what business is all about.

If you are offering something that nobody wants, you’ll find it difficult to sell anything.

MARKET RESEARCH

To figure out if your listners want what you have, ask them. Recruit a few dozen people in your niche and actually talk with them.

Ask them about their struggles and pains. Where do they need help? Talk to them about their goals, dreams and ambitions. What do they need to overcome those struggles?

If you would like some help on the questions, download my Listener Development worksheet at www.PodcastTalentCoach.com/listener. You don’t need to ask every question on that worksheet. Ask enough to get a good idea of what your listener needs.

Once you have the questions, recruit some participants. Send an e-mail to your list. Post on social media. Direct message people. Reach out multiple times.

I would say something like, “I am working on a program that will help podcasters. Would you be willing to jump on a call with me for about 20 minutes and help me with some research?” Shoot for 20 participants.

When you get on the call, ask them your questions. I would start with, “When it comes to podcasting, where are you struggling most?”

Find the commonalities with your listeners. Most of mine tell me they struggle growing their audience and making money with their show. That’s why I created the Audience Explosion Blueprint. This program helps them with exactly what they need. I know, because they told me. This is how you grow your business.

I built the course with the elements they told me they wanted. I take their hand and walk them through every step of the way, just like they requested.

Every element in the program was suggested by my market research. They helped me build it. You can see the details on the Audience Explosion Blueprint at www.PodcastTalentCoach.com/audience. 

YOUR BUSINESS OFFER

When your listeners help you build your program, it is much easier to get them to buy it. They told you exactly what it should include.

We often make it business more difficult than it needs to be. There is often the desire to put everything we know into one course. The problem is the fact that your audience doesn’t want every answer. Your listener wants to solve one pressing problem. Help them do that.

You will only know what to offer when you listen to your audience. Let them help you build your business.

INTERVIEW

Today, we talk with Aaron Wilbur of the Glass and Out podcast. It is a podcast for hockey coaches. Aaron interviews coaches. He also has a conference and membership site that has now become his full-time job and business.

Aaron Wilbur is the Founder and CEO of the Coaches Site, an online resource for hockey coaches, as well as the host of the Glass & Out podcast. The Coaches Site was created to provide the game’s top coaches a platform to share their experience and expertise with a global audience of coaches.

As the host of the Glass & Out podcast, Aaron is fortunate to have weekly conversations with some of the top leaders and trailblazers in hockey, highlighting the origins of their careers, challenges overcome, triumphs and their insights into how coaches can provide an enhanced development opportunity for their players.

During our conversation, we talk about which came first … the podcast, the membership site or the conference. We get into the origin of each. Aaron shares how the podcast helps drive the business and how he turned it into his full-time gig. He also tells us about his crazy infatuation with Nick Saban and Alabama football.

You will definitely get a few nuggets from this business case study. It just proves you don’t need to teach online business or funnels in order to monetize your podcast.

A big thanks to Aaron Wilbur for joining us on the show. If you want to check out the Glass & Out Podcast or see what his membership site is all about, visit him at www.TheCoachesSite.com.

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

Let’s turn your information into engaging entertainment.