Profit From Your Podcast – Details, episodes & analysis

Many aspiring podcasters jump into the game with dreams of monetizing through advertising. But, oh boy, they may want to sit down for this one.

The conversation dives deep into the reality of podcast sponsorships and the ever-evolving landscape of listener numbers. Dave Jackson brings in insights from Rob Walsh and Dan Granger, revealing that the golden number for downloads keeps climbing.

Gone are the days when 5,000 downloads would get you a seat at the table; now, advertisers are eyeing shows with 50,000 downloads or more. This isn't just a minor shift—it's a major wake-up call for those thinking they can cash in early. As the discussion unfolds, we examine the absurdity of the “winner-takes-all” model that seems to be taking over the podcasting industry.

With institutional money flooding in, smaller shows are often left scrambling for scraps. The conversation touches on the idea of partnerships over traditional sponsorships, highlighting how podcasters like Ray Arnott create symbiotic relationships with their sponsors, focusing on mutual growth rather than mere transactions. It’s a refreshing reminder that collaboration might just be the key to survival in a market that often feels like a giant treadmill—running hard but going nowhere fast. In wrapping up, the episode encourages podcasters not to abandon hope if their download numbers are modest. Instead, it suggests a change in perspective: think of sponsors as partners.

This approach not only fosters a sense of community but also positions the podcaster as a valuable ally to their sponsors. After all, who wouldn’t want to work together for mutual success? The key takeaway?

Start building relationships, and when you hit those coveted download numbers, you'll be ready to turn those partnerships into profit. The episode closes with a nod to resources like the book ‘Sponsor Magnet’ by Justin Moore, which offers a deeper dive into creating meaningful sponsorships. It’s not about just getting a check; it’s about building a sustainable model where both parties thrive.

1. Many aspiring podcasters mistakenly believe that monetization through advertising is the only way to earn.
2. Understanding the current advertising landscape can change your approach to podcast monetization strategies.
3. To attract sponsors, it's essential to have at least 50,000 downloads per episode, which is quite a hurdle.
4. Instead of viewing advertising as a transaction, consider it a partnership for mutual benefit with sponsors.
5. Building authentic relationships with sponsors is crucial, especially when your audience size is smaller.
6. The podcast industry is leaning towards a model where only a few shows dominate, making it harder for newcomers.

Links referenced in this episode:

1. 411 iTem 0241 - Dan Granger - CEO Oxford Road and Host of the Media Roundtable Podcast
2. profitfromyourpodcast.com
3. aroundthelayout.com
4. Sponsor Magnet Book
5. Oxford Road
6. Media Roundtable Show
7. Podcast411 Show
8. Profit From Your Podcast

Selling your own products can be a tough journey, with nearly 50% of creators earning less than $10,000 a year and many struggling for years without seeing a single dollar. This episode reveals the harsh realities of monetizing content, highlighting the significant disparities in earnings across platforms like TikTok, Instagram, and YouTube.

However, there's a glimmer of hope with Pensight, a platform that offers affordable tools for creators to sell digital products, coaching, and more without the hefty fees associated with other services like Kajabi. With Pensight's $29 monthly plan and a free trial option, creators can test their ideas and start earning with minimal upfront investment. Join Dave Jackson as he delves into the complexities of content monetization and introduces Pensight as a potential game-changer for aspiring entrepreneurs.

As Kajabi is $169/month and Pensight is $29/month Kajabi is over 400% higher. You can sell products on the free plan on Pensight to get proof of concept. 

• Selling your own products can be challenging, with many creators earning less than $10,000 annually.
• Kajabi is a comprehensive platform but is often seen as overpriced compared to alternatives.
• Pensight offers a more affordable solution for effectively selling digital products and services.
• Creators can face long periods without income, highlighting the difficulty of monetization in content creation.
• Building a substantial following is essential for most creators before seeing significant earnings.
• Understanding the financial dynamics of platforms like TikTok and Instagram is crucial for creators.

• Original Post https://kajabi.com/reality-check
• profitfromyourpodcast.com/book
• Pensight
• Kajabi

Mentioned in this episode:

Get Podcasting in the RIGHT Direction

The Podcast Hot Seat helps you identify what you're doing right (so you can do more of that) and also those things that could need a little touch up. Order now and get a FREE MONTH at the School of Podcasting.

Podcast Hot Seat

I talk with Josh from Volley back on episode 55 and I mentioned that I wanted Volley to have a business plan. They launched Volley pro (where you get additional features) but for those who do coaching and consulting and want to get PAID, they just launch "Consult with me on Volley" and it is SO EASY.

It works with Stripe and so when people pay you Stripe deposits it into your bank.

Volley takes 5% of the transition and stripe will add the typical 2.9% etc fees

If you have people who want to "Pick Your Brain" you can create a one-time service for (example) 10 minutes and then charge them a small fee. The person downloads the Volley app (it works on everything and it's free) and takes 3 minutes to ask a question. You take 2 minutes to answer it and the person has 5 more minutes to ask questions.

It is a great "Get you in the door" service that can easily help you start building relationships with leads and customers. The loyalty this can build in your clients is amazing.

See my Consult with Volley Page

I and a few friends found a free weight loss challenge app. It has inspired me to lose some weight. I'm now making it more official and adding a community for support with that pinch of competition (with obtainable goals, and nobody can see how much you weigh). There will also be zoom calls for accountability. If you want to see it in action (I'm building it as we go). see monthlychallenge.fit

Profit From Your Podcast is available to be signed by the author (or just buy it from Amazon)

www.profitfromyourpodcast.com/book (makes a great Stocking Stuffer)

Mark Des Cotes is a podcaster, graphic designer, and friend (he's the guy behind the School of Podcasting, Ask the Podcast Coach, and Podcast Rodeo artwork. You can find him atl

Rings of Power Podcast

ringsofpowerpodcast.com

Resourceful Designer

resourcefuldesigner.com

Podcast Branding

podcastbranding.co

Today you will hear how just changing the angle of your pitch can result in a much better result. Instead of complaining about how expensive it is to be in business, simply point you how you have delivered value, and if your audience would like, they can give back at an easy-to-remember link.

On my Ask the Podcast Coach show, I use a link www.askthepodcastcoach..com/awesome where I control where that link goes. For now, it goes to a page on the website where people can buy my book, leave a Paypal donation, or become a patron of the show.

If you leave a specific link (www.patreon.com/davejackson) what happens if later something better comes along? You have a bunch of episodes with an outdated link.

I create that link with a built-in tool from Podpage. If you're on WordPress you can use the pretty links plugin.

Pick up any book on podcast monetization, and you will find 90 percent of it only covers how to launch a podcast. If you already have a podcast, you have that information; you’re ready for the next step. Profit from Your Podcast provides top strategies and real-life examples of podcast monetization. This book is more than what to do. It also tells you how to do it. Chapters cover such topics as:

• How to Grow Your Audience
• How to Set Your Pricing
• Understanding Advertising Jargon
• How to Find Sponsors
• Best Strategies for Making Money as an Affiliate
• Master Strategies for Crowdfunding
• Harnessing the Power of Webinars and Events
• The Top Tools to Make Your Job Easy

Built on the author’s fifteen years of experience in podcasting, this action-packed guide will benefit new and veteran podcasters. Get clear on who your audience is and what they want, deliver value, and build an engaged audience that wants to give you money. Leverage your relationships and the integrity you have built through your podcast to create multiple streams of income. Profit from Your Podcast gives you the tools to do it all.

Mentioned in this episode:

Need Help Growing Your Show?

Do you know why your show isn't growing? (Probably not as you are TOO CLOSE to the content and you've lost your objectivity). I can help spot that low-hanging fruit that you missed. Schedule a strategy session today and let's get your show growing at a faster pace.

Strategy Session

One of the first ways I made money with my podcast is when a member of the School of Podcasting asked if I knew an editor. Who did I recommend? Me. They just wanted to talk into the microphone and hand it off to someone. That was back in 2005, and things haven't changed. Some people love editing, and other people "just want to talk into the microphone."

Back on episode 752 I interview Mark Deal and Steve Stewart from the Podcast Editor Academy which is an amazing resource with tutorials on software (Hindenburg, Reaper, etc) but it also talks about the business of being a podcaster editor.

The importance of having a niche.

How Steve started out as a podcast editor without a website.

Mark talks about setting expectations by having a contract with your customer.

The difference between an editor, an engineer, a manager, and a story shaper.

Common mistakes new podcast editors make.

Sign up for the Podcast Editor Academy (save using coupon sop )

Live Mastermind Workshop in Dallas Texas

Editor Pricing Survey

Episode 752 of the School of Podcasting

Buy the book Profit From Your Podcast

Mentioned in this episode:

Need Help Growing Your Show?

Do you know why your show isn't growing? (Probably not as you are TOO CLOSE to the content and you've lost your objectivity). I can help spot that low-hanging fruit that you missed. Schedule a strategy session today and let's get your show growing at a faster pace.

Strategy Session

We all love customers, but there are some people who are NOT your target audience, and yet we create strategies that cause unrealistic expectations in your customers, or we get a great customer who can be a little forgetful.

When you do one of those HOLY COW - UNBELIEVABLE DISCOUNT Black Friday kind of sale, you get two types of customers.

1. The customer purchases and does nothing with your product as they have no skin in the game
2. A customer who didn't read the offer, but jumps in because it is so good, and then expect much, MUCH more than what is included in the offer

Consequently, (after doing two) I will not do a "Black Friday / DEEP DISCOUNT" offer.

This typically brings you your target audience. They are a joy to work with, and they are action takers.

However, a year later they forgot they purchased a recurring membership program. This leads to:

1. Emails the day after they get charged asking, "Hey I didn't authorize this!"

I just got an email from someone who purchased my product. They worked for a company, and each year they have been charged. Now two years later, they want their money back.

1. You can set a trigger in your CRM (I Use Less Annoying CRM) and remind them that their year subscription is coming up. Alert them how to cancel their subscription if needed.
2. I also now send an email a week before the charge to alert them that their subscription payment is coming up.

A yearly subscription is an easy-to-make "higher ticket price" item. You might consider raising the price on the subscription and making it "Lifetime Access" this way you get the benefits of an action-taking customer, and you don't have to worry about "I didn't authorize this payment."

Mentioned in this episode:

Need Help Growing Your Show?

Do you know why your show isn't growing? (Probably not as you are TOO CLOSE to the content and you've lost your objectivity). I can help spot that low-hanging fruit that you missed. Schedule a strategy session today and let's get your show growing at a faster pace.

Strategy Session

You have a product, service, or potential sponsor and you have no idea what to charge. Some questions you may want to ask

1. How niche is your audience? (the more niche - the more you can charge)
2. What problem does your product solve?
3. Can you make money with your product/service?
4. How will you charge (avoid CPM for sponsors)
5. Whatever you first land on for a price it is probably not enough (we all underprice).
6. What is the cost of your product/service

I haven't been this excited about a tool in a while. It's so powerful, and yet so early to use. I also love that it works on EVERYTHING and that is what Volley does.  It works on PC, Mac. Andoid, or iPhone and it has revolutionized how I'm handling questions with my community.

Josh is an experienced CEO launching multiple successful startups in the past. Today we get insights into:

Time Shifted Screen Sharing and Dave's School Analogy

When Did Volley Become an Idea?

Moving Your Community From Facebook

Can You Lock Down Volley?

Issues Trusting a Free Platform

Josh's Background

How Long Has Volley Been Around?

Future Features?

profitfromyourpodcast.com/volley

Audience Feedback

Find Josh at https://www.linkedin.com/in/littlejosh/

Tim Schmoyer (video Creators)

Volley App

School of Podcasting

Profit From Your Podcast Book

At Podcast Movement Evolution in LA people kept pitching me, and in a matter of seconds, I was able to tell if this person understood the podcasting market or not. Most did not. 

TWO TYPES OF PODCAST BUSINESSES

My friend Paul Colligan from the Podcast Partnership said, "There are two types of podcast companies. One that cares about podcasting, and the other that just wants some of that sweet, sweet podcast money." 

YOU NEED TO SOLVE A PROBLEM

If you want to make money with a podcast, you need to solve a problem. So that can be a product or service, but it can also be that you solve the problem of providing information that is not available anywhere else. 

THE TING ABOUT THREE YEARS

I do need to clarify that I've said it takes three years to build an audience, and that is when people I interviewed for my book Profit From Your Podcast started making notable income.However, it's not the three years that enable them to make money. It is the quality of the content. Don't keep making episodes thinking, "If I can just make it 36 months I can retire." There is some luck and timing involved. 

NETFLIX CANCELS SHOWS

Why do I think that? Netflix cancels shows. They know everything about us. They know our likes and dislikes, and yet they make shows that we don't watch and get canceled. Why? Maybe it was bad timing or good old luck of the right person finding it and telling two friends...

CONCLUSION

So if you want to make money, you need to solve a problem. Think about everything you buy. Be it clothes, food, netflix, etc it all solves a problem. 

What problem can you solve?

I can help at podcastconsultant.com and you can read my monetization secrets at www.profitfromyourpodcast.com/book

Dynamic Content Flavors

Pre and Post Rolls

This enables you to add dynamic content (ads, or other promotions) at the beginning and end of your show/

Mid Rolls

This enables you to content  (ads, or other promotions) anywhere in your show (you select where, and the content is inserted)

The dynamic part is you can change the content later and it will update all the episodes that have "Spots." 

Dynamic Ad Companies

When I did the research for my book I used a dynamic ad insertion company that put generic ads into my show. It paid .0017 per episode. If you have 2000 downloads that calculates to $3.40 (so these only work for people with HUGE audiences. 

Things to Think About

You need to get consistent with your recording volume as you want the dynamic content to  be the same volume as the rest of the episode. 

You need to think about how you are going to lead into the content and come out of it. You can leave a very small space as when you pick the spot you can go down to millisecond precision. 

Don't have "new toy" system and drive away listeners with too many spots.

Companies That Offer Dynamic Content

Buzzsprout (pre and post roll)

Captivate (pre, post, and midrolls)

Libsyn (ore, post, mid, and geographic targeting enterprise solution)

Blubrry (enterprise solution)

Red Circle (pre, post, mid)

Need Help Growing Your Podcast?
Join the School of Podcasting