How We'd Spend $500/$2,500/$10,000 to Grow Our Podcast (& the Lessons You Can Apply to Any Budget)
Mar 12, 2024
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Discover how to maximize your podcast growth with budgets ranging from $500-$10,000 per month. Explore strategies like advertising, branding, audience engagement, and outsourcing. Learn how to allocate funds for production, marketing, and tools to achieve the best ROI for your podcast growth.
Strategic allocation of budget across hosting, editing, and marketing enhances podcast quality and engagement.
Experimenting with targeted advertising on various platforms helps attract new listeners and improve ROI.
Investing in production quality, support services, and brand maintenance is vital for sustainable podcast growth.
Deep dives
Optimizing Budget Allocation for Podcast Growth
In the podcast episode, discussions are centered around optimizing budget allocation to enhance podcast growth. By analyzing data trends, it is suggested that shows with varying monthly budgets can achieve significant growth. Strategies are proposed for budget tiers like $500, $2,500, and $10,000 per month, emphasizing the importance of wisely distributing funds across hosting, editing, marketing, and support services to enhance the overall podcast quality and engagement.
Testing Advertising Strategies for Enhanced Visibility
The podcast episode delves into the strategic implementation of advertising to expand podcast visibility. Concepts like targeted advertising on newsletters, podcast ads, Instagram reels, TikTok ads, and YouTube shorts are explored to attract new listeners. With a focus on experimentation and tracking tools like Chartable for measuring ad performance, the podcast advocates for an ongoing testing approach to understand audience response and improve advertising ROI.
Investing in Production Quality and Support Services
With a leap to a $10,000 monthly budget, the emphasis shifts towards investing in production quality and support services to elevate the podcasting experience. Allocations include hiring a podcast producer for content direction, a video editor for enhanced visual content creation, and outsourcing tasks to streamline operations. The strategic investment in tools, coaching, and advertising on multiple platforms demonstrates a comprehensive approach to enhancing podcast quality and audience engagement.
Investing in Brand and Quality
Prioritizing brand and production quality is crucial for creating content that captivates viewers and listeners. By investing in enhanced video and audio quality, creators can leave a lasting impression through their brand. The speaker expresses a strong inclination towards maintaining high standards for their brand, emphasizing the importance of quality in every touchpoint to attract and retain audiences. This commitment to quality, while beneficial, also poses challenges, such as avoiding project creation due to perceived inadequacy.
Strategic Budget Allocation and Marketing Experiments
Deliberate budget allocation and strategic marketing experiments are key to maximizing the impact of resources in podcast growth. The discussion highlights the significance of targeted advertising, particularly focusing on newsletter subscribers as a cost-effective strategy. Leveraging costly signaling from marketing psychology, the hosts advocate for impactful marketing experiments, such as retargeting ads and community networking. Emphasizing the value of networking, content sharing, and personalized engagement, the episode stresses the importance of building relationships and community involvement for sustainable growth.
00:00 Could we grow faster if we had more budget? 02:47 How much the average podcast spends on production & marketing 06:41 How much high-growth shows allocate to marketing 08:11 How we’d spend $500/month to grow 15:23 How we’d spend $2,500/mo to grow 27:23 How to figure out what brought people to your show 31:00 How we’d spend $10,000/mo to grow 38:03 Understanding your brand 50:24 Running retargeting ads to your podcast 52:33 How we’d grow our podcast with zero budget
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