Creating your own podcast is an excellent way to gain exposure and build your community. But, did you know that it's also a fantastic profit generating tool? Your number one priority should always be to deliver exceptional value in order to help others. The fact that you can monetize your efforts is the cherry on top.
If you're considering starting your podcast or already have one, here are 3 fantastic ways to make money with your podcast sooner rather than later:
1) Sponsorship
Each episode should have a sponsor. You may be thinking about going out and getting corporate sponsors. That may be an option later, but it won't be very successful right out of the gate. You are the sponsor I'm referring to - Your products and Your services.
TV has already conditioned viewers to expect commercials. To prevent your audience from going to the fridge during yours, introduce your sponsor before you begin each show. Simply say, "Today's episode is brought to you by(insert product/service)." You'll want to include a few benefits and give the web address for more information. You could put it at the end, but your audience may not make it until the end due to numerous distractions.
Try to mix up your offerings. Include free and paid options. If you repeat the same offer over and over again your audience will hear the Charlie Brown teacher - Wa-Wah, wah, wah. They'll start to tune them out and you'll have zero conversions.
2) Re-purpose
Recylce-recycle-recycle. Pull together your related podcasts and create a digital product. It's super easy because you've already done the work. You can sell the product, use it as an opt-in, or offer it as a bonus. Work smarter!
As much as we'd like every person to listen to every episode, the reality is that they won't. Even if they do, they'll forget. There's nothing at all wrong with re-purposing. A word of caution: Be certain to get your guest's permission first if you intend to create a product for sale.
3) Affiliate Program
An affiliate program is just a fancy name for referral program. Basically, you pay a commission for every sale someone sends you. It's typically 50% for digital products and 10% for your personal services that require your one-on-one time.
An affiliate is a person that agrees to promote your products/services in exchange for a commission. They are not employees or contractors. To start gaining affiliates reach out to your existing professional network and clients. They already love you, so they'll be wonderful ambassadors for your brand.
A mindset shift is needed here. Don't look at it like you're giving half of your profits away. Look at it like you wouldn't have made the sale at all if they hadn't sent the customer your way. When you reward your affiliates well they'll send you more sales.
You can create your own affiliate program or use a third-party like ClickBank.
Your turn! Post your podcast below to let me know how you're going to monetize it. As always, I'll join in the conversation.
If you're considering starting your podcast or already have one, here are 3 fantastic ways to make money with your podcast sooner rather than later:
1) Sponsorship
Each episode should have a sponsor. You may be thinking about going out and getting corporate sponsors. That may be an option later, but it won't be very successful right out of the gate. You are the sponsor I'm referring to - Your products and Your services.
TV has already conditioned viewers to expect commercials. To prevent your audience from going to the fridge during yours, introduce your sponsor before you begin each show. Simply say, "Today's episode is brought to you by(insert product/service)." You'll want to include a few benefits and give the web address for more information. You could put it at the end, but your audience may not make it until the end due to numerous distractions.
Try to mix up your offerings. Include free and paid options. If you repeat the same offer over and over again your audience will hear the Charlie Brown teacher - Wa-Wah, wah, wah. They'll start to tune them out and you'll have zero conversions.
2) Re-purpose
Recylce-recycle-recycle. Pull together your related podcasts and create a digital product. It's super easy because you've already done the work. You can sell the product, use it as an opt-in, or offer it as a bonus. Work smarter!
As much as we'd like every person to listen to every episode, the reality is that they won't. Even if they do, they'll forget. There's nothing at all wrong with re-purposing. A word of caution: Be certain to get your guest's permission first if you intend to create a product for sale.
3) Affiliate Program
An affiliate program is just a fancy name for referral program. Basically, you pay a commission for every sale someone sends you. It's typically 50% for digital products and 10% for your personal services that require your one-on-one time.
An affiliate is a person that agrees to promote your products/services in exchange for a commission. They are not employees or contractors. To start gaining affiliates reach out to your existing professional network and clients. They already love you, so they'll be wonderful ambassadors for your brand.
A mindset shift is needed here. Don't look at it like you're giving half of your profits away. Look at it like you wouldn't have made the sale at all if they hadn't sent the customer your way. When you reward your affiliates well they'll send you more sales.
You can create your own affiliate program or use a third-party like ClickBank.
Your turn! Post your podcast below to let me know how you're going to monetize it. As always, I'll join in the conversation.
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Sarah Aderson is a product creator, an international speaker, Leg-a-SHE Strategist, and international bestselling author. She empowers service-based entrepreneurs to charge what they're worth so they can leave a legacy not only for their family, but the world. Sarah transforms your business into an empire. Sarah packages your passion into digital and physical products.
Learn more about Sarah's work at www.expandyourheart.org
Pick up your complimentary Work Smarter e-book here.
Learn more about Sarah's work at www.expandyourheart.org
Pick up your complimentary Work Smarter e-book here.
