MAKING MONEY WITH YOUR PODCAST

When coaches come to me for assistance, one of the most common challenges is making money with their podcast. Most are using their show incorrectly and spending time in the wrong places with the wrong activities.

There is a misconception about podcasting. You make money WITH your podcast, not FROM your podcast.

By that I mean your podcast doesn’t generate money. You’re not making money from the show. When it comes to making money, use your podcast to promote your revenue engine.

As a coach, your revenue engine would be your coaching. If you sell affiliate products, you make money from affiliate commissions, not from producing the podcast.

THREE CHALLENGES

There are three major challenges podcasters face when trying to generate revenue with their podcast.

The first is selling ads and sponsorships. They are spending time on the wrong activities.

Next is spending too much time on their guest during an interview. It’s a delicate balance to demonstrate your authority while making your guest look great.

Finally, coaches do not have a strong call to action that leads listeners to becoming clients.

Let’s jump into each of these individually.

Before we do, I would love to help you build your monetization strategy. Take advantage of my complimentary podcast strategy call.

During your strategy call, you and I sit down to define your goals. We determine where you are today. Then, we build a strategy to get you from here to there.

This isn’t a heavy pressure sales call. We’ll work together to build your strategy. When we are done, we’ll have an idea if we like each other. If you’d like to see some options to achieve your goals, we can talk about how that looks.

You can apply for your complimentary podcast strategy call online at www.PodcastTalentCoach.com/apply.

Let’s get into the challenges.

MAKING MONEY WITH ADS AND SPONSORSHIPS

The first challenge is selling ads and sponsors. There are a few issues with this.

First, only 7 percent of all podcasts have an audience large enough to attract sponsors.

Second, it takes a lot of your time to sell a sponsor. Once you sell one, you need to start selling the next. It is rarely recurring income.

Instead, spend your time on your clients.

Next, you can only put a limited number of sponsors and ads on your show. Therefore, it caps your revenue potential.

Finally, it treats your podcast as a commodity. Your ad offer is just like every other ad offer. You don’t control the price.

Sell your own offers instead of selling other businesses through ads.

MAKING MONEY WITH INTERVIEWS

The next challenge is your interview. Many hosts spend a lot of interview time making their guest look great.

When Oscar came to me, he was struggling to get his podcast Deep Listening: Impact Beyond Words to do anything to grow his consultancy.

I listened to his show and realized he was a great interviewer. However, he did very little to tell me what he offers.

The interview is typically about what the guest offers. We send our listeners to our guest’s lead magnet or website.

However, we don’t want to make the interview all about us. It’s a delicate dance.

Be sure to carve out time on your show to demonstrate your expertise and show people what you do.

CALL TO ACTION

The final challenge is a call to action. Hosts often deliver great content but fail to ask their listeners to do anything.

What do you want your listeners to do when the episode is over?

Your call to action should be the first step toward working with you. The content on your episode should lead to that call to action.

Have a strategy for each episode to get your listeners one step closer to working with you.

CINDY J. HOLBROOK

I want to help you spend more of your time on money making activities.

Cindy J. Holbrook the Visibility Wiz joins me on the show today.

She guides entrepreneurs and small business owners to thrive as you go up the ladder from being the best-kept secret to Trusted and In-Demand Authority.

Cindy J. has been coaching since 2009. She has been my coach and she’s one of the best in the business.

Today, Cindy will show us how to spend our time on the right money making activities, so we can generate revenue with our podcast.

 

To grab Cindy’s 7 Money Making Activities, visit www.PodcastTalentCoach.com/moneymaking.

You can learn more about Cindy J. Holbrook and how to step into who you are with outrageous confidence at https://www.cindyjholbrook.com.

 

If you don’t have a mentor who can take your hand and walk you every step of the way, go to www.PodcastTalentCoach.com/apply, click the button and apply to have a chat with me. We will develop your plan and see how I can help and support you to achieve your podcast goals.