It’s something many business owners struggle with: How to monetize their podcast.
In fact, it’s what prompted me to write my article: How to Profit from your Podcast.
However, it was a recent conversation with a podcaster who was struggling to monetize his podcast and his question, which has prompted me to write this article.
The question he asked was:
“How do I generate more traffic to my website so I can start generating an income?” he asked.
His thinking was the more traffic he could get to his website the more chance he would have of securing sponsorship for his show.
Sponsorship is certainly one way you could look at monetizing your podcast.
However my response to him (and anyone else who believes that sponsorship is the best way to monetize your podcast) is:
“Don’t bother focusing on an out-dated advertising business model where you get paid per visitor/listener – you’ll go broke.”
Instead, focus on where the REAL income is.
Especially true for service-based business owners, such as coaches, consultants, authors and speakers and other service-based professions.
Monetize your podcast by packaging and selling your expertise!
Because when you capture the RIGHT message that speaks directly to your ideal client, you won’t need thousands of listeners and tens of thousands of downloads before you can begin generating an income.
You won’t need to publish podcast after podcast, week after week, after week, after week.
You just need to have the RIGHT message, being shared to the RIGHT audience (your ideal client), with the RIGHT call to action. AND, a Signature System (and program) you can offer prospective clients.
Because when you do – people will be contacting you, wanting to learn more about how they can work with you.
Which is when you share more about your Signature System and how they can work with you with the various Signature Programs you offer.
Don’t yet have a Signature System? Here are some steps to get you started.
NOTE: I don’t believe in getting clients to do something unless I’m either doing it myself, or I know it works! I mean – how annoying is it when someone is teaching you something BUT they’re either NOT doing it themselves or they haven’t been able to generate results from it?!
So, know that the examples I’m sharing DO work, and are the exact steps I’m using in my business today. I don’t want to waste your time, so wouldn’t share anything if I didn’t know it works. That’s my promise to you!
How to Create your Signature System?
It’s the steps you take your clients through to take them from where they are stuck to where they want to be.
It captures your expertise into a step-by-step system.
For instance, I help my clients go from Invisible to Influential with a Podcast.
Here’s my Signature System.
Step 1: Invisible
My clients often say: “I feel like the world’s best kept secret. I have so much to offer, however hardly anyone knows about me.”
They have a level of knowledge and experience that’s valuable and can support their clients, however no-one knows about them.
Step 2: Insight
There are a number of elements I support clients get totally clear on within in this process.
This includes their unique Signature Brand (i.e. their Inner Brilliance), their Vision and Mission, their cut-through message and voice.
Everything they will need to stand out from the crowd and be heard, especially if they are working in a cluttered, noisy marketplace.
Step 3: Intrigue
The next step is getting totally clear on who their ideal client is. However, also some of the psychological triggers such as key words and phrases that will engage and entice people to want to learn more.
Understanding this will ensure every podcast, every message, every social media post, every speaking opportunity and presentation, speaks directly to the heart of what your ideal client is struggling with.
With a powerful consistent message you’ll continue to intrigue your ideal client so they’ll want to listen to more of your podcasts.
Step 4: Integrate
Without an integrated approach business owners will often feel like they’re spinning their wheels, stretching themselves too thin with all of the marketing they’re doing. Nothing is building any real traction and momentum so they end up giving up.
So this is another vital step where we help clients define their Podcast Profit Pipeline, along with an integrated marketing approach.
Everything you do now continues to engage, educate and entice your ideal client through your Podcast Profit Pipeline.
Step 5: Influence
With all of the other steps in place, every single touch point you have in place continues to nurture your ideal client to the point where they want to find out how to work with you.
So often I’ll receive comments like:
“I’ve learned SO much from you. How can I work with you.”
“I need to work with you – when can we speak.”
“We need to talk…”
Over to you.
Here are three questions for you to consider as you map out your Signature System:
- What’s ONE major problem your ideal client is struggling with and what they want to achieve?
- Think about what you can do as well as the outcome you can help them achieve, which should be the same as what THEY want. Then:
- What’s the first step they’ll need to take? Write it down
- What’s the next step they’ll need to take? Write it down.
- What’s the next step they’ll need to take? Write it down.
- What’s the next step they’ll need to take? Write it down.
- What’s the next step they’ll need to take? Write it down.
You see where I’m going with this?
- Typically you want between 5 to 7 steps (maximum). If you have more steps in your initial draft, then see which steps can be put together and refine your Signature System down to between 5 to 7 steps. Give each step an outcome-focused heading and you’re set to go!
What’s a Signature Program(s)?
It’s a range of programs with difference investment levels in which your clients can work with you.
Each Signature Program incorporates elements of your Signature System, however often the higher the level of investment, typically the more time you spend with them.
For instance, here at Podcasting With Purpose, we have three Signature Programs.
- DIY – Do It Yourself Signature Program
These are my Podcasting With Purpose and Interviewing with Purpose Self-Paced Online Programs.
I’ve put all of my knowledge, templates, checklists – EVERYTHING into a program so clients can Stand Out, Be Heard and Influence!
- DWY – Done With You Signature Program
This is my Podcast Profit Platform Program, which includes everything a client needs to take them from Invisible to Influential, with myself and my team supporting them – every step of the way.
It includes their very own Podcast Platform on our Ambitious Entrepreneur Podcast Network, ongoing monthly trainings (across key areas of business growth), in-person masterminds, while being part of a community of Change Makers who are changing their world with their message.
- DFY – Done For You Signature Program
This Podcast Series Program is specifically for clients who want a podcast series to build their influence, their list and their leads, however do not want an ongoing podcast.
My team and I do everything for them, including pre- and post-production and holding their hand – every step of the way. All they need to do is step up to the microphone to share their expertise.
Over to you.
Here are three questions for you to consider as you map out your Signature Program(s):
- What needs to be covered in your program? Typically working on ONE outcome is a great guideline so as not to overwhelm your client. (Is it a DIY, DWY, or DFY offering?)
- How will the program be structured and over what time frame?
- Are you including worksheets, recordings and done-for-you templates, etc to build additional value for your clients?
Creating a Signature System and a range of Signature Programs is the BEST way to monetize your podcast.
By the way, if mapping out your Signature System and Signature Programs is something you struggle with, this is something we can help you with in our DWY – Done With You Podcast Profit Platform Program.
