I asked my private FB group what the one thing that was holding them back from monetizing their podcasts. 100% of the answers came back with some form of “I don’t have enough downloads!”
So how many downloads do you need in order to monetize? Well, not nearly as many as you think!
I currently earn a minimum of $2000 each month from my podcast, and my podcast never gets over 500 downloads each month. Some months, I earn more than that.
Today, I’m sharing the 4 step framework for how I have monetized my small podcast.
The first thing you need to understand is that the #1 myth of podcast monetization is that monetization means sponsorships!
Getting sponsors for your podcast is a long process and it takes you getting a lot of downloads, and then when you do monetize that way, you realize that sponsors aren’t paying very much money for advertising on your show.
There are much better (and more lucrative) ways to monetize your podcast and I’m going to show you how I do it with this little show.
My 4 step framework for monetizing a podcast is:
- Provide great content – I know my audience well, because I have lived the same life as my audience, so I try to create relevant content that will help them solve their problems.
- Teach, don’t interview – If you give your entire platform over to your guests, you will have a very hard time convincing your listeners that you have the answers to solve their problems.
- You can incorporate more solo shows where you teach your frameworks
- You can make room at the beginning and the end of your interview show to create space for you as the facilitator of learning.
- Make offers – Your listeners have to know how they take the next steps with you. You have to make offers in your podcast. Make twice as many offers as you think you should.
- Let your sales funnel do all the work – When I make an offer, I don’t get hung up on the details of the offer. I focus on the results that I can give and then direct listeners to the url, and then let my sales funnel do all the work.
If you implement this framework for your podcast, it will help you get on the path to monetization too.
Want to learn more? Join our private Facebook group here!
You can also find Christy and her team at www.teampodcast.com!
Need help getting your podcast optimized and ready for monetization? Learn more about the Podcast Tune Up here.