In today’s episode, I’ll want you to have an open mind and look at what I’ll talk to you about from a business perspective. So far, I’ve taught you about a few ways that you can monetize your podcast, and today I want to highlight the fact that you can charge guests for their interviews. I know. It’s a controversial method, but remember, you’re spending time and money so your podcast can succeed. And it’s only right that you get a return on that investment, but only if charging your guests is a viable option for your show.
A lot of people in the industry are against charging guests. But if your audience is to the point where guests are willing to pay for the exposure, by all means, charge them for a spot on the show. People willing to pay to be on a podcast, or people who are trying to get their name out, likely already have a brand of their own to promote. Dive into this value-packed 23-minute episode and learn all about the strategies you can use to implement this monetization model in your podcast.
- Why you should not solicit people to be guests on your show and then charge them for it (02:43)
- Pitching it as a paid traffic opportunity (04:20)
- Demonstrating return on ad spend to potential guests before they pay to come on (06:04)
- The value exchange that should be the podcast host-guest relationship (11:09)
- Knowing more about your audience and what converts (13:11)
- Monetization idea: Getting people to sponsor your newsletter if it’s going to offer any value to your listeners (15:41)
- Being strategic and ethical about how you monetize your guest bookings (18:22)
- It’s okay to borrow from other podcasters’ monetization models if they will work for your podcast (20:20)
- Creating more than one monetization stream to have a hedge against any problems that may come up with any of them (22:13)
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You can also find Christy and her team at www.teampodcast.com!