Most podcasters are using the WRONG growth & monetization strategy.
Hey Pod Pals!
This newsletter was lovingly curated (without the use of any AI) in real time on Thursday morning at 8:09am CST.
Breakfast has been made and the kids are off to school. I feel like I'm finally back in the back-to-school rhythm!
I just finished a brisk walk out in the 58 degree Missouri morning air and the cold brew coffee is starting to take effect......time to write!
Real quick before we dive into this week's topic.... ⤵️
I specialize in helping podcasters do three things:
🚀 Optimize their podcast launch.
📈 Grow their audience with ideal fit listeners.
💰 Leverage their show to get more clients for their online business.
Need help with any of these?
Hop on my Podcast Profit Potential Discovery Call Calendar.
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This week we are going to talk about a major reason why so many podcasters are quitting....they aren't growing or making any money!
The more important question is: WHY is this happening?
Why do only 5% of podcasters get to episode 100???
As usual, I've got a theory...and it's actually pretty simple.
When I think back ten years ago to when I launched my first podcast in 2015 I remember WHO inspired me as a new content creator.
I was obsessed with podcasts like:
😍 Online Marketing Made Easy with my pod-crush Amy Porterfield
😎 The Tim Ferriss Show
😎 I Love Marketing with Joe Polish and Dean Jackson
I feel like we all get inspired to start our first show because we love a certain type of podcast and decide that we want to do THAT!
The mistake that I made....and most podcasters make.....is that I tried to imitate the growth and monetization strategies of my podcasting heroes.
Let me give you a few examples.
I was about 20 episodes deep into my podcasting journey (aka...I still had NO IDEA what I was doing as a content creator)....
and yet I'm following the lead of my podcasting heroes and doing the following:
👉 I decided I needed a unique lead magnet for EVERY episode (like Amy Porterfield was doing at the time).
👉 I decided to write a book and have my show "sponsored" by my Four Sigmatic Mushroom Coffee affiliate link (like...Tim Ferriss)
👉 I was obsessed with building something called a "squeeze page" (like Dean Jackson)...I'm still not sure what exactly I was trying to "squeeze"...LOL!
I hadn't discovered John Lee Dumas and Entrepeneurs On Fire yet, or I'm 100% sure I would've started doing daily episodes!
The reason NONE of these strategies worked for me is because my podcasting brand and business where at a completely different brand level compared to these veteran content creators and entrepreneurs with robust businesses, established audiences, and support teams.
So with today's newsletter I'm going to unpack what I call The Three Podcasting Brand Levels.
It's time to figure out WHERE your brand is currently at so you can start using a growth/monetization strategy that makes the most sense for YOU.
➡️ Brand Level One: Triple Zero Content Creator
In this brand level you are starting off with pretty much zero built in audience.
You have close to zero followers online, zero email list, and zero subscribers to your podcast.
THIS is where most of us start!
Here are some podcast growth focus points that will actually work if you are at this brand level:
1. You MUST have your podcast SEO and keyword strategy dialed in. Refer to episode 560 of my show for a masterclass on this topic.
2. Get a content creation system going that eventually allows you to crank out consistent weekly episodes.
3. Find 1-2 social media platforms that feel like a good fit. You should enjoy creating the content on this platform and it shouldn't take you 6 hours to create one post.
Eventually build up to being able to promote a new episode release on these platforms each week with 3-5 assets in the first 72 hours that an episode is live.
4. Start building relationships with other podcasting peers in your same brand level. I have SO many Pod Pals that all launched their show within about a year of when I started mine.
It almost feels like a high school graduating class....some of us have gone on to do great things as content creators.....and some of us decided to quit and work at the cell phone sales kiosk at the mall!
Here are some business foundation focus points to dial in on at this brand level:
1. Start building your email list...ASAP!
I highly recommend starting simple with a high value newsletter like the one you are reading right now. You don't need to have 42 lead magnets (like my girl Amy Porterfield! LOL)
A super easy (and free) way to get going would be to launch a newsletter on Substack like the one I have.
2. Test out different social media platforms but have a goal of pairing things down to just 1-2 that feel Easy, Lucrative, and FUN!
3. Develop a Start Anytime Offer. This is usually a simple consulting offer like the one I unpack in this week's podcast episode.
4. Develop your Discovery Call process. You will eventually have someone message you and ask the golden question How can we work together?
Have a simple scheduling system set up so that you can set aside time to chat about working together.
➡️ Brand Level Two: 1,000 True Fans
At this brand level people have a little bit of an established following BEFORE they launch their podcast.
They usually have about 1,000 people following them on social media and/or on their email list.
The level two people have a HUGE advantage over the good folks of level one because they have a small but mighty audience to start with.
People at this brand level will see faster download growth and they will be able to sell programs and services more effectively (and earlier!).
Here are some podcast growth focus points that will actually work if you are at this brand level:
1. Use your established audience as much as possible when you launch your show. If you are at this brand level you need to make sure your social media/email list know about your show launch and how to support you.
2. Focus your marketing efforts on giving your established audience members a reason why they should want to also consume your podcast content.
This is where my Unique Content Strategy comes into play. I suggest that you release UNIQUE content each week on your podcast, newsletter, and social media.
This means that you DON'T have the same topic for your podcast, newsletter, and social media during the same week.
3. Podcast guesting should be a major focus point for people at this brand level. It's time to borrow other people's audience and use that exposure to grow your audience.
Here are some business focus points to dial in on at this brand level:
1. Most people at this brand level already have something equivalent to a Start Anytime Offer. If not, start there!
2. Evolve your Start Anytime Offer into a signature offer. I teach my Academy clients to do this by simply adding an online course component that helps increase the speed to the desired result.
A course + coaching hybrid offer is a GREAT signature offer....and now we're operating at a higher price point!
3. This is also a great time to look at recurring revenue stream opportunities.
You will have people that finish your signature offer and say What's next coach?
This is a great opportunity to have a group coaching cohort or membership platform that they can graduate into and continue to receive support from you.
➡️ Brand Level Three: Online Influencer Status
These are content creators who already have a significant following at the time that they launch their podcast.
Here are a couple of examples of influencers that have recently been on my podcast as guests:
👉 Abigail Peugh has over 100,000 followers on IG. She's been able to leverage that built in audience to see significant podcast growth numbers in her first year.
Check out the interview we did about how she's leveraging her audience to sell digital products.
👉 Chenell Basilio has 40,000+ newsletter subscribers. She's leveraging her podcast to get even MORE newsletter subscribers and she's got a great membership offer (that I'm a member of myself!).
Check out the interview we did about the Podcast + Newsletter Strategy.
Now...if you are at this brand level....CONGRATS!
You've worked very hard to build up a significant audience and your primary objective should be to convert your core audience members into podcast listeners and paying clients.
SO...here's the top takeaway:
📌 We CANNOT compare our podcasting journey to someone that is starting at a completely different brand level.
It's simply not fair to beat ourselves up if we are a Triple Zero podcaster and our growth and monetization doesn't match someone that has 100,000 followers online to start with.
Each podcasting journey, within your podcasting niche, will be unique to you.
Don't compare your journey to anyone else's.......just focus on carving your own path from the brand level you are starting off with!
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🤩 Client Testimonial of the week: My client Bryce Hamilton has a show called Fat Loss Simplified.
Check out what he has to say about working with me:
"I joined the Online Business Academy for Podcasters because I was STUCK with my podcast growth and client conversion process. With Adam's help, within 6 weeks, I've been able to DOUBLE my podcast downloads! The best part is that I'm finally seeing my listeners convert into CLIENTS!"
➡️ Ready to get some help with your podcast launch, growth, or monetization strategy?
Hop on my Podcast Profit Potential Discovery Call Calendar.
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New Content for this week:
🎙️ Podcasting Business School EP 585: One SIMPLE offer strategy for consistent $5k-$10k months.
In this episode I spend about 40 minutes completely breaking down ONE simple offer that can help you earn meaningful income as a podcaster with an online business.
I cover the offer components, pricing, how to create offer awareness, and a CTA strategy.
✍🏻 SuperThread Of The Week: I HATE seeing podcasters with hundreds of episodes and really low download numbers. Let's fix this! I've got one tip for your show name and one for your podcast art/branding......
📝 Substack BONUS article of the week: Three BIG time wasters that podcasters MUST avoid!
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Talk to you next week!
Your Pod Pal,
Adam
⭐️ P.S. Ready for some help with your podcast launch, growth, or with getting more clients from your podcast?⭐️
Sign up for a FREE Podcast Profit Potential Discovery Call.