A simple strategy to make podcast monetization easier.
Hey Pod Pals!
This newsletter was lovingly curated (without the use of any AI) in real time on Thursday morning at 8:28 am CST.
We had a great Spring Break trip to North Carolina last week and it is feeling nice to be back in my content creation routine this week!
This week's newsletter is being sponsored by ME..(check out the new bonus) ⤵️
⭐️ ⭐️ ⭐️ ⭐️ ⭐️
Start a 10 Day FREE Trial inside of my Online Business Academy for Podcasters.
This is the program where I help podcasters build the foundation for their 6-figure online business.
By joining in the month of April you will get this BONUS:
😎 An invite to my April Vetted Collaboration Meetup.
These are curated groups that I'm putting together each month to facilitate content and business collaborations.
At the last meeting one of the participants got booked on a podcast with over 5 MILLION downloads.....just from a simple connection that was made.
⭐️ ⭐️ ⭐️ ⭐️ ⭐️
This week we are going to talk about a simple two step strategy that will make your monetization journey MUCH easier.
When most podcasters start their podcasting journey we assume the path to monetization is fairly straightforward.
We think it should look something like this:
🚀1. Launch a show.
🎙️2. Put out consistent content.
💰3. Wait for the sponsorship cash to roll in.
When we are at episode 42 ....and still no sweet sponsorship cash from underwear companies.....the alarm bells start to ring...uh oh! 🚨
The mistake that most podcasters make at this point is that they just keep chugging along doing the same thing (or they give up!).
I see so many podcasts with HUNDREDS of episodes and they are making ZERO money.
Here is a simple two step process to help you start earning meaningful income.
✔️ Step One: Niche down.
✔️ Step Two: Stop chasing sponsorships and start selling your own programs and services.
Let's look at niching down first...because we have all heard the phrase "The riches are in the niches."
I created a framework that I call The Podcast Monetization Difficulty Axis to help explain the importance of niching down.
There are four quadrants:
➡️ Q1 Broad Topic/Small Audience
➡️ Q2 Broad Topic/Large Audience
➡️ Q3 Niche Topic/Small Audience
➡️ Q4 Niche Topic/Large Audience
📌 Pro tip: You can move from quadrant one (where NOBODY makes any money) directly into quadrant three (where I've paid myself over one million dollars) just by niching down on your content topic.
Next you are probably thinking "This makes sense....but how do I niche down?"
Let's utilize another one of my favorite frameworks The Perfect Podcast Naming Formula.
There are three rules. When I read the name of your podcast I need to know:
✔️ 1. WHAT the show is about.
✔️ 2. WHO it is for.
✔️ 3. and I want to see at least two keywords.
👉#2 (WHO it is for) is the key to niching down your content.
Don't have a "weight loss" podcast.
Instead have "Weight loss Strategies for Entrepreneurs".
More examples:
Social Media Tips for Moms.
Tax Savings Tips for C-Suite Executives.
LinkedIn for Personal Trainers.
Keto Diet Tips for Medical Professionals.
By niching down your content topic you create an opportunity to be the go-to expert in your niche.
📌 I DO NOT describe myself as a "podcasting coach"...
My niche is: Online Business Coaching for Podcasters.
📌 IMPORTANT Note: Be sure to niche down into a topic where you have expertise and proven results.
I once had a client that hired a "LinkedIn Coach for Podcasters"....and when we tried to look them up on LinkedIn...we discovered that they didn't have a LinkedIn profile...can you say "I need a refund!"???
Now let's address step two: Stop chasing sponsorships and start selling your own programs and services.
The idea of getting sponsorships lures in many new podcasters, but they soon realize how HARD it is to get sponsors.
From 2015 through 2017 I pushed hard to try and grow my health podcast and get sponsors.
I was doing over 20,000 downloads per month and I only made a TOTAL of $37.00 in those three years (from a mushroom coffee affiliate link).
Then one day I decided to try selling a paid online challenge to my audience and I made $3,700 in five days.
Then I did it again and earned over $14,000.
Since then I've been laser focused on selling my own programs and services from my quadrant three niche...and it has gone extremely well.
So to recap:
✔️ Step One: Niche down.
✔️ Step Two: Stop chasing sponsorships and start selling your own programs and services.
If you are ready for some help with the process of niching down and creating effective offers I'd love to have you start a 10 Day Free Trial inside my Online Business Academy for Podcasters.
🎤 Podcasting Business School Episode 563: Optimizing your podcast content for growth and new client acquisition.
Top takeaways from this episode:
*My specific recommendation for your ratio of interviews vs solo episodes.
*What is a strategic interview?
*How to use my 2/3 Content Rule to convert more podcast listeners into paying clients.
📈 Download Growth Club question of the week:
"Are podcast episode "highlight" videos still a MUST for our podcast episode marketing strategy?"
My answer to this is: MAYBE.
I think it all depends on your strongest social media platform.
If you are killing it and seeing organic growth on platforms like IG and TikTok then YES I would be putting out video based promotion materials.
If you are more focused on text based platforms like X, Threads, or LinkedIn then you might want to focus more on text based promo content and ditch the videos.
My fastest growing platform is Threads so I don't do any video based promo assets currently....but that could always change!
🚀 Podcast Launch Tip of the week:
I see a lot of people that are launching their first podcast stall out right before they are ready to release their first episode.
This is where imposter syndrome kicks in.
Thoughts start to creep in like:
"Who is going to want to listen to this?"
"I'm not an expert in this...why would someone want to learn from me?"
Here's the deal Pod Pals: If you go back and listen to 99% of podcasts you will notice that their first 10 episodes are not their best stuff......this is normal.
You have to go into your podcasting journey focused on knocking out your first 100 episodes....
and focusing less on making the first episode PERFECT.
Take the Ready, FIRE, Aim approach!
⭐️ In episode 085 of Podcast Launch Tips I do a podcast launch strategy session with a new podcaster that ended up getting ranked in the top 10 of her podcast category during her launch week.
🤩 Client testimonial of the week: My client Emily has a great podcast called Health, Hormones, and Done with Dieting.
Check out what she has to say about working with me inside of my Podcast Listener To Client Conversion Program:
"Adam showed me how to clearly outline my listener journey and help make my podcast a part of my business funnel. Now my podcast is helping me get on sales calls with hot leads."
➡️ If you are ready to get some help with leveraging your podcast to get more clients. Hop on my Podcast Profit Potential Discovery Call Calendar and we can talk about working together.
✍🏻What's happening on the Threads app this week: Here is a long form SuperThread post that you might like:
"Putting keywords in your podcast episode show notes does NOT help with podcast growth. Here are 3 proven podcast growth strategies that actually DO work....." Full post HERE
I hope that you are enjoying this weekly newsletter!
I'm getting ready to sit down and map out my calendar and my top three goals to accomplish for next week. I love this process!
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.