Getting value from this course?
Make a ContributionGetting value from this course?
Make a Contribution
We will cover how to effectively monetize your podcasts with Thought Leadership
Steps for Skill Mastery:
If you are a coach, consultant, or service based business, your podcast can be a great way to promote your services. On the podcast you are creating free content week after week, but sometimes your audience wants go a little deeper with you. Consequently they will often reach out to you because you have built a relationship with them through the podcast and they see you as the expert. A podcast can be a great way to promote your services and get more people signed up for free consultation calls.
A good example of this is the Breaking Free podcast. After less than a year of podcasting, she was getting between 4 to 15 emails a week from people who wanted to hire her for 1-on-1 coaching. 70% of the people who inquired become clients. Now she uses the podcast as a marketing strategy to bring people to her coaching services.
Maybe you are not a coach or consultant, you sell a service that’s relevant to your podcast. For example, you may have a business podcast and are also a web developer. If you have a marketable skill that solves the pain points of your podcast listeners, by all means promote it on your podcast.
An example of this is Denise Griffitts, who gets between 4k to 6k listens a week on her podcast, Your Partner In Success. She doesn’t monetize it directly, but many of her listeners reach out to hire her for her web development and virtual assistant skills.
Answer the following questions to get started:
Always remember to decide if this is the best way to monetize your podcast
Podcasting should be a natural segway into public speaking for most podcasters. Unfortunately, public speaking isn’t a dependable source of revenue unless you’re a major industry leader.
There are 4 types of speaking opportunities:
As your podcast grows in popularity, it won’t be long before you’re approached with speaking opportunities, but most of them will be unpaid. Although unpaid, these speaking gigs offer practice, free exposure, and is an excellent opportunity to build your audience.
Paid speaking opportunities at conferences and other live events can pay anywhere from a few hundred dollars to tens of thousands.
As a general rule of thumb, here’s how much the average speaker makes:
Sales speaking gigs give you the opportunity to sell your own product or service rather than a set amount per speech. This is excellent if you have high end products or services to sell in your business.
ClickFunnels founder & host of the Marketing Secrets podcast, Russell Brunson once did over $3 million in 90 minutes at Grant Cardone’s 10X event. However, there’s a catch. The event’s host usually takes a sizeable cut, oftentimes 50%. Speaking opportunities like these are still well-worth pursuing. In the case of Russell Brunson, half of his $3 million in sales is still an incredible haul for an hour-and-a-half of work.
Of course you won't get results like Russell Brunson (especially if you're just starting out), but over time you can at least get to 5 and 6 figure pay days from speaking.
Answer the following questions to get started:
Always remember to decide if this is the best way to monetize your podcast
Book sales can be yet another way to monetize your podcast, but most podcasters struggle to make them a substantial source of revenue.
For most podcasters, books are just another way to offer free value. For instance, giving away ebooks can nurture relationships with your listeners and help you develop a loyal following.
When writing a book you have a few options:
Physical books are pretty straightforward. And you don’t even need a publisher to get started. Many books can be self-published through places like Amazon and Kindle’s direct publisher. A good source to learn how to self-publish a book is Chanlder Bolt’s Self Publishing School.
Ebooks are great way to create an entry point into your other products or services. You can create an ebook to give away for free to your audience. Then inside the ebook you can have links to your other products or services if they wish to go deeper with the content.
If writing is not your thing, you can always create an audiobook instead. You already have the equipment sitting right in front of you. Audiobooks are thriving in today’s publishing industry, growing faster than any other format. Amazon’s Audible's content includes more than 200,000 audio programs from leading audiobook publishers, broadcasters, entertainers, magazine and newspaper publishers and business information providers
An alternative to creating new content for a book is to repackage your existing content from your podcast into a book. New York Best Selling Author, Tim Ferris has done this with his book Tools Of Titans where he took all the best advice from his podcast guests and turned it into a book.
Answer the following questions to get started:
Always remember to decide if this is the best way to monetize your podcast.
Demonstrate mastery of the knowledge and skills presented in this lesson by applying it to the above activity. If, and only if, you have a full understanding and have mastered the knowledge and skills presented in this lesson, select the next lesson in the navigation.
Has this course helped you and added value to your life? Consider making a contribution.
We believe access to education should be free, so every course at Plato University is available to you free of charge.
However, if you get any value from our courses, they help you solve a problem in your life, or if you just believe in what we are doing, consider making a contribution equal to the value we have given you.