Growth Triggers How to Pick the Right Monetization Strategy for Your Podcast?
PDS #164
I've noticed through a lot of conversations with podcasters there's a lot of different views about how to monetize a podcast...
Truth is there's not a "Perfect " way.
But there is an ideal way to do it.
#1 Coaches or consultants:
- You sell high tickets so you only need a few sales a month to make it a great month.
- Your selling results /experience and knowledge that can lead to results
Best Option
- For you private audio (a paid easy to make low ticket product) can be a nice conversion tool to get a listener to make a micro commitment.
- Another one is what is the "guest referral machine system" which we discussed in our Profit Ready Podcasting Masterclass. If your interviewing 2 to 4 guests a month this will help you capitalize on every interview in a non-sleazy value driven way.
#2. Agencies and Service Providers:
- You're selling higher ticket items so you need less volume but high quality.
Best Options:
- Private audio (like above)
- A Hot Seat Show System
3. Influencer selling a low ticket /membership
- You need more volume to meet the goal
- You can use more tactical things like flash sales or special discount codes throughout the year to capitalize on holidays and events.
Best Options
- Affiliate sales
- Sponsorship using the CAP model
Resources:
- Book a call here.