3 Keys to Successful Podcast Monetization
Without these it will be difficult to do....
Podcasters Getting Paid-The Course Has Launched (Today!)
I’ve changed my mind and have decided to launch the course. I will still be publishing this substack but it’s important to meet people where they are right now.
Pre-sell is LIVE right now. Click the following link for the Founding Member’s Price of $97-Course will go live on Tuesday, November 1, 2022
The 3 Keys to Successful Monetization
Consistency-If you’re publishing your show super inconsistently, it will be very difficult to attract sponsors, create products, earn affiliate, income, etc. Consistency doesn’t mean that you have to publish an episode every day of the week. Consistency just means that there is a predictable cadence to the work that you’re putting out. If you’re struggling with consistency-change your schedule. For example:
Keep things simple-Instead of releasing 8 episodes a month, release 4.
BATCH record your podcast episodes-Record as many episodes as you can during a pre-determined time frame so that you’re ahead of your recording schedule.
Record a season of content versus recording weekly-This has been A HUGE timesaver for me. I batch recorded a 15 episodes of content at the beginning of this summer and then I edited and published episodes after that. I will never change this process. Seasons are MUCH easier to find sponsors to collaborate with.
Listener Intent-This one is HUGE. I could spend a whole month talking about listener intent. What is it?? Basically, it’s your listener’s “why” why are they listening to your show? Understanding their “why” helps you to figure out a monetization strategy. You HAVE to know how to communicate listener intent to a brand, to yourself and to partners if you’re trying to create a product, monetize a resource.
Are they listening to your show for a sense of community?
To validate a belief?
Because they would like to learn something new?
For entertainment
To supplement another piece of content? An example of this would be the House of the Dragons podcast that supplements the show.
Clarity of Audience-Do you know who is listening to your show? The more detailed this information is the easier it will be for you to monetize your content. Many content creators will design a framework of WHO they would like to listen to their shows. Then, they will pay attention to who is emailing them, social media activity and other types of feedback being received. Here are some examples:
The average listener of XYZ comedy show is an older GenZ and Younger Millennial who lives in the Midwest and is still living at home. They work part-time while attending graduate school.
The average listener of XYZ financial show is a GenXer with children and parents that they’re supporting financially. They are culturally diverse and on average have at least a college degree. This listener earns between $65,000-$97,000 combined income with their spouse.
Bonus:
Know which projects will make sense for you, your platform and your community. I’ve earned money numerous ways online both in “active” earnings and “passive” earnings. The lesson that I learned? I prefer “passive” earnings.
Active earnings-Earning money online this way may require that you’re in front of people more often, facilitating a task such as speaking, freelance writing, emceeing an event.
Passive earnings-This type of earning online requires a lot of upfront work that makes money on the backend. This would look like affiliate marketing, course sales, ad revenue on a website and books sales.
Sponsorships-This actually is a mix of passive and active earnings because you do have to have conversations with whomever is sponsoring your content.
Both passive and active earnings require work and you may find that you prefer one over the other.
Podcasters Getting Paid: The Course
Becoming a Founding Member today!
Click the following link to purchase the course.
Pre-sell is “live” now-course price is $97
Course goes “live” on January 17, 2023
One module a week