Influence To Income – PTC 432

On this episode, we're going to answer a few questions from podcasters. We will cover income from ads, giving up on a dud podcast, what time is the best time to publish, and if you should have a co-host.

SPONSORS FOR INCOME

How soon is too soon to reach out to potential sponsors? My podcast is still young and I'm only getting about 200 downloads a week between YouTube and podcast platforms.

-Landon

THE CEILING

If you have listened to Podcast Talent Coach for any length of time, you know I am not a fan of sponsors on your podcast. But, let me give you some facts and data to back that up.

First, people are fleeing traditional media to escape the crazy, long commercial breaks.

Radio has typically reached most of the population in the United States. In 1998, radio reached over 95% of Americans over the age of 12 each week. In 2011, that reach was down a bit to 93%.

According to Neilsen Media Research, in 2020, that percentage dropped to 83%.

The audience is getting fragmented.

How many ads can you possibly include on your podcast. I listen to Marketing with Brendon Burchard. He has 3 or 4 minutes at the beginning, a few more in the middle and 3 or 4 again at the end. I skip them all.

Even if he sells 12 commercials in his show, there is still a ceiling on the revenue he can generate. Why would you cap your revenue.

But, that isn't even the most compelling reason to avoid ads and sponsors.

CPM MINIMIZES YOUR INCOME

This is the wrong strategy, because it is a race to the bottom for the cheapest rate.

According to Influencer Marketing Hub, when it comes to podcast advertising, there are different ways that the pricing can be structured. Most commonly, it will be a fixed rate or calculated using the cost-per-mille (MEE-luh). CPM is cost per mille or cost per 1,000 listeners.

According to AdvertiseCast.com, here are the average rates based on orders within AdvertiseCast's marketplace. Please note these are marketplace averages.

As of today, 30-second CPM is $18. 60-second ad CPM is $25.

According to Inside Radio, the average podcast CPM dropped 12% in January, 2023. This was not due to seasonality. This was down 12% compared to a year earlier.

THE BETTER PATH

Instead of wasting your time and spinning your wheels trying to find sponsors to pay you a few dollars for your ad, sell your own products or services. You could also look for affiliate relationships to generate money.

Are you sick of not making the money your deserve?

Did you launch a podcast hoping it would increase your influence, but heard nothing but crickets?

Are you frustrated spending a lot of time, energy and money trying to get noticed with very little to show for it?

You're not alone. The sad news is that most podcast journeys end before they ever get started. Many shows fade away by the 7th episode.

In fact, studies show over 50% of all podcasts have stopped publishing new episodes. These stats definitely don't support your intentions to grow your reach, generate leads and enroll new clients!!

I get it.

Here's the secret, it's not what you know. It's who knows you.

You won't get known using information alone.

Artificial Intelligence now owns information. It's distrupting everything, and it's growing at lighting speed.

It's your influence that will create your impact. And your impact creates your income … simply by BEING Authentically You.

AUTHENTICITY

That's great news because, I'm going to let you in on a secret.

Influence is the key to income. and your podcast can be your greatest asset!

Podcasting is about giving you a platform for your authentic voice, to share your message and make an impact.

Podcasting is exploding, and there aren't any signs of it slowing down.

Not even AI will slow it down. Because, your authentic voice & your influence can't be replicated.

The one thing you need for your podcast is a proven blueprint that grows your audience, influence and income quickly and easily, without wasting your time, effort and money.

With a step-by-step blueprint, you won't end up like hundreds of thousands of business owners with an under-performing, or worse yet, long-forgotten podcast.

INFLUENCE TO INCOME

Let me help you get on the path from influence to income.

I am teaming up with two amazing experts in the podcast industry for a powerful event the help you implement the fastest path to profitable podcasting.

Dr. Fred Moss has 4 decades of experience in the mental health industry. He has been helping people become their most authentic self, define their purpose, and find their true voice so they could get out of the "traditional medical system" and begin living a life they love.

Dr. Fred will show you how to craft your message and do it in an authentic way. He is our message expert.

Tony Guarnaccia has 25 years in the digital space. He has managed $400 million dollar marketing budgets, been named Google Partner of the Year, and grown a dozen Fortune 500 companies like Ford, ADP and Auto Nation.

Tony is the marketing guy that helped launch Google Radio and YouTube ads.

He is the real deal and is our marketing expert.

And as you've heard before, I've spent 35 years building successful radio stations and coaching successful radio shows. Over the last 10 years, I've been helping business owners just like you use podcasting to grow revenue.

I will help you create your profit framework and get clear on monetization.

Influence to Income is all about message, marketing and monetization.

Between the 3 of us, we have transformed the lives of hundreds of thousands of people, impacted over 10,000 businesses, and generated millions of dollars in revenue using our expertise in messaging, marketing and broadcasting.

Join us at Influence to Income and get your podcast profit roadmap built.

UNIQUE

Right now more than ever, your voice matters. Because you and your message are unique.

Let's market your message and make money with your podcast.

Are you ready to go from being the best-kept-secret in your niche to the epicenter of your industry?

Now's the time to make podcasting profitable. Discover our proven blueprint that will ensure you build a profitable podcast.

Join us for a powerful 3-day event to build your podcast profit roadmap.

This roadmap will save you time, build your wealth and give you the freedom you've been seeking.

Visit PodcastProfitsWorkshop.com and register today.

Remember, your podcast is the catalyst for your influence. And your influence is the key to your income.

Influence to Income happens September 22-24, 2023. We will be live from Austin, Texas. But, you can join virtually from anywhere.

Early bird pricing is available now if you register before the deadline. You will save a ton.

This powerful, 3-day event will show you how to grow your audience, income and impact.

If you've had little success finding ways to attract your idea clients and generate income with your podcast, this is the event you need.

Get all the details at PodcastProfitsWorkshop.com and register today.

We can't wait to see you there.

IS MY SHOW A DUD?

Need some advice (for context I have a very small podcast audiance like average 20 regular listeners) I'm about 19 episodes in and I just have a feeling the show may be a dud. My question isn't really about growth. I'm wondering what you do to get past the thoughts of just scrapping a show and starting fresh.

-Michael

Why are you doing the podcast?

If you are trying to attract clients and generate income, focus on quality over quantity.

Do you enjoy doing the podcast?

If so, keep your head down and do the work for the first year. You can evaluate at that point.

What are you doing to actively attract new listeners?

You can't simply post on social media and email your list. Those people are already aware of your show.

Find new audiences and invite them to the show.

With 19 episodes, I imagine the show hasn't even had 5 months to build an audience. Your audience only grows with dedicated focus.

Give it time, and build relationships.

WHAT TIME?

What time do you usually publish your podcast? I have a show 2-3 times per week and I generally have it scheduled to publish right after midnite (12:05am each time). I'm thinking that I'd probably be better off publising in the early morning (6 or 7am EST)

-Patrick

The time of day doesn't matter.

One of the strengths podcasting enjoys is being on demand. Poeple listen when it is most convenient for them.

Your podcast isn't like a television show that succeeds because it airs Thursdays at 8pm rather than Saturdays at 9pm.

It is more important to be consistent. Be there at the same time every week.

I listen to my favorite podcast every Saturday while I'm working around the house. He publishes that show on Fridays.

I have no idea what time it is released on Fridays. And it doesn't matter. Changing the time won't get me to listen on Friday. My days is Saturday.

Don't worry about the time. Just be consistent. Develop a habit in your audience.

ALONE OR CO-HOST

I've been going through a lot of back-and-forth about whether to do a podcast alone or have a co-host (or just have invited guests). I recorded myself this week just to see what it sounded like and it felt a little dry to have it just be me talking on the subject. Just wondering how you ultimately made a decision about this.

-Rebecca

One great thing about podcasting is flexibility. It is your show. If you want to change mid-stream, change.

There are no rules that say if you do a solo show it must always be a solo show.

Experiement with a few styles.

Try a solo show. Bring in a co-host to see how it feels. Interview a few people to see if you like it.

After 50 or 60 episodes, you'll get into a rhythm and discover which you like best.

This podcast was a solo show for the first 275 episodes. It was then that I decided to start interviewing people.

When you are doing a solo show, talk directly to your ideal listener. Have a conversation with that person.

When you talk to your listener, it will give your show more energy and connect with your audience. You won't sound so flat.

Don't feel like you are locked into one style or format. Change when you're ready to change.

Above all, don't let it hold you back.

If you don't have a mentor who can take your hand and walk you every step of the way, go to www.PodcastTalentCoach.com/apply, click the button and apply to have a chat with me. We will develop your plan and see how I can help and support you to achieve your podcast goals.