Today’s episode of the Podcast Experiment features Dave Jackson. He’s the host of the School of Podcasting podcast, a podcast consultant, coach, and speaker. You can connect with Dave Jackson on Twitter @davejackson or on his website schoolofpodcasting.com
Most people think it's about money, but there is more than one way to profit from your podcast. Dave mentions that he spoke to someone recently who was super introverted when they started podcasting. And now this same person is doing their podcasts via Livestream. This person now has more confidence. While that's not a form of money, that’s an example of a way to profit from a podcast. You can also grow your network and share your message with others. You can also helping other people through podcasting. For example, you could provide information that other people find useful, such as self-improvement, losing weight or getting out of debt.
Dave says that the most common question he gets is “How do I get a sponsor?” He says because we are used to hearing ads on the radio, most people think getting a sponsor is a good idea for a podcast too. However, the payment for ads is very low such as $10 for 1000 downloads. In addition, having ads on a podcast can lead to a poor listener experience for what equates to just a few dollars of income. Instead, a better idea--and more profitable idea--to sell podcast listeners your own products such as coaching, a book, or some other product that the audience wants.
One thing Dave recommends is for everyone is to start an email list. No matter what you’re doing, at some point you want to have people to take action by clicking on something. Email invites people to take action. A podcast is just audio, so email is a great way to engage even further with your audience.
Dave built a portion of his email list using lead magnets. His approach was going to Google Analytics and finding the most popular pages on his website. In exchange for an email address, he offered a printable PDF that would be useful to the website visitor. So if you’re just starting out, this is a great way to start building your email list for you too.
According to Jacobs Media, 70% of people that find a podcast find it through word of mouth. So if you can get on other podcasts as a guest or things like that or have other people on your show those are good ideas. Build your network one person at a time. Have a link to your your podcast when you send out email to your email list. And don’t forget to have links to your podcast on your website. Don’t rely on Apple podcast search or Spotify search.
It’s important to find where your listeners are. For example, Dave went to a LinkedIn event at a library, because the people attending were trying to grow their network. He knew he could help because a great way to grow your network is through podcasting. Dave also goes to events for authors that are trying to grow their listeners or their readers. So figure out who your audience is, and then go where they are. Make friends with those people. Then, at a later point, you can tell them about your podcast.
If you’re looking to profit from your podcast, Dave recently wrote a book titled Profit From Your Podcast. I personally have been a member of the School of Podcasting (affiliate link) for almost seven years. I really love the community there.
Special thanks to Dave for being on the podcast.