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You know I am a big fan of “don’t make it harder than it needs to be”. This is true when it comes to podcast monetization. The shortest distance between two points is a straight line. Stop adding in all of the unnecessary steps and tools.
PODCAST RELATIONSHIPS
Imagine being able to have a conversation with your ideal customers on a weekly basis.
On top of that, those ideal clients request that conversation every week. How great would that be?
A podcast makes that conversation possible.
A podcast provides you a huge opportunity to demonstrate your authority to your prospects and invite them to become clients.
If you structure the show properly, your podcast can be an amazing marketing tool to drive your business and grow your revenue. You build trust every week.
When I have conversations with podcasters, they often tell me they want to make money with their show. I then listen to an episode.
There are usually one of two big issues when it comes to monetization. First, the podcaster has nothing to sell. Second, if they have something to sell, they don’t ask for the sale.
If you want to monetize your podcast, you need to make the offer often. Build your audience, so you can make offers to many people at the same time.
SPONSORSHIPS
Many people want a big audience so they can get sponsors.
This is the worst move you can make for three big reasons.
First, people are fleeing traditional media to escape the ads. Why would you want to clutter up your show?
Second, it takes a huge audience to attract a sponsor. The number is usually over 5,000 downloads per episode. Only about 7% of all podcast hit that number.
Finally, it takes a ton of work to land a sponsor and you only get paid once. You would cry if you calculated the dollar per hour rate you’re getting paid for that sponsorship.
Instead, market your own stuff on your show. Get paid every time something sells for podcast monetization. If not, at least create an affiliate relationship so you get paid on sales and not one, flat sponsorship fee.
7 STEPS TO MONETIZATION
There are seven monetization steps to use your podcast to grow your business:
- Launch your podcast talking about content that you love
- Have something to offer and sell that is a solution to the problem of your audience
- Build an audience to which you can make that offer
- Demonstrate your solution on your podcast
- Give them a free resource to get them started that allows you to capture their email address
- Nurture the relationship through your podcast and email
- Make the offer
MONETIZATION CONTENT
When it comes to step number 4 Demonstrate Your Solution on Your Podcast, there are seven ways you can show your prospects how you are perfect for them.
1. Demonstrate Your Authority
Simply share your solution on your podcast. Explain how you became an expert in your space. Follow the information with a strong, single call-to-action. This is a great way to get your listener to begin their journey in your funnel and become a client.
2. Demonstrate Your Coaching
Share a bit of a coaching session as an episode. This will show your listeners the transformation you offer your clients. Demonstrate how your coaching can help her as well. Then, tell her how to sign up to get a discovery/strategy call with you or get your coaching.
3. Demonstrate Your Products
Your podcast can be like a weekly webinar. However, your ideal clients actually subscribe to it. They come to hear you speak every week. Give them a sample of your courses, books, templates, etc.. Create excitement and intrigue. Then, tell them where to buy it.
4. Network With Others
Swap interviews with other podcasters to grow your audience. Help each other get exposed to a new listners. This is like a joint venture for your content. Podcast listeners listen to podcasts. Therefore, go get on more podcasts. Bring people to your show and start the process.
5. Listener Coaching Examples
This is similar to demonstrating your coaching, but shorter. Create an interactive show using listener audio or questions. Demonstrate your coaching without using actual sessions. Just answer questions and solve problems. Then, tell listeners how to sign up to get a discovery/strategy call with you or get your coaching.
6. Attract Media Interviews
Get media to view you as an available expert in your field. Offer your services for their stories and reports. This will allow you to get in front of new, potential listeners and grow your audience. Your podcast demonstrates your interviewing ability. Reporters will trust that you can hold your own during an interview. Ask the reporter to share your podcast information to the new audience.
7. Listeners Share Your Content
Word-of-mouth is the number one way people discover new podcasts. If you want your audience to grow, make your content easy to share. This is free marketing when your listeners share your great content and expose you to new, prospective listeners (and clients).
CONSISTENCY
Your business won’t grow until you take action. Pick one of these ideas and get started today. Then, stick with it. Consistency helps your podcast and business grow.
If you would like help launching and developing your very own podcast strategy, visit www.PodcastTalentCoach.com/apply for your FREE, no strings attached strategy call with me.
This isn’t a sales call in disguise. You and I talk about your goals and develop a strategy to achieve those goals. If I have something I think might help you, we can talk about it. However, we need to get to know each other first.
Let’s chat. Visit www.PodcastTalentCoach.com/apply and schedule your call.
