If you want to create a business around your podcast and generate revenue and profit, you need to have a plan and process. Move your listener from casual interest to buying fan.
You cannot start with making money. Start with you and your superpower. Then, you need to figure you what your audience needs. Where those two intersect is the solution to your business.
There are 4 Steps in the process of moving from podcast to profit.
1. Define your superpower.
Flush out your super power. What do you do better than most? When people seek advice from you, what are they asking? What topic do you love and can you talk about for hours?
2. Shape your content into entertainment.
Begin building your audience. Grow your engagement by adding value and helping.
3. Figure out the business profit proposition.
What does your audience need to solve their problems? Maybe they are looking for a job. They might need to learn what you know. Maybe they need to know how to negotiate.
There are three levels of teaching. Each comes with a different price. What to do, how to do, and do it for you.
“What to do” is typically free. This is usually your podcast and blog content, your lead magnet and free webinars.
“How to do it” is typically the entry product and a reasonable price. This could be a course, book or membership.
The “do it for you” level is typically the highest level. Your offering could either be a full-service offer or one-on-one coaching. This level is individualized.
4. Begin the funnel.
Now that you know your subject and have defined your business, it is time to begin moving your listeners through the funnel.
Attract your audience to your podcast.
Offer them a lead magnet to help them solve one problem quickly. This will start the relationship. Let the lead magnet be the start of the “how to do it” entry level product you have to offer. Many times the lead magnet is one resource from that course.
After they consume the lead magnet, offer your listener an low ticket item. This could be a $7 quick video course. It should be something a little stronger than the lead magnet, but inexpensive with huge value that will be a no-brainer purchase. Sometimes this is one module from your full course.
From the low ticket item, offer bigger help with your full course.
Get a few of your full course customers to purchase your complete “do it for you” level.
It is called a funnel, because fewer people make it to each level of the funnel. Many will consume your free podcast. A percentage of listeners will request your lead magnet. Only a fraction of those lead magnet consumers will buy your low ticket item. A portion of your low ticket buyers will pay for the full course. Just a few of those people will want the “do it for you” level.
Naturally, each time the price increases, the number of prospects that choose to participate decreases. The key is to get as many people in the top of the funnel to increase the number of people at the bottom of the funnel.
Start With Engagement
It all starts with engagement with your listener and building your audience. There is a resource available for you that will help you grow your podcast.
You can download my “75 Ways to Drive Engagement”. Go to PodcastTalentCoach.com/IncreaseDownloads.
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.
