Swell AI Transcript: How To Monetize Your Podcast with Guests - edited.mp3

SPEAKER_00: Welcome to Prevention Intervention, your go-to podcast about avoiding addiction and becoming the best version of yourself. This podcast is brought to you by the Nova Southeastern College of Allopathic Medicine in collaboration with the Florida Blue Foundation. And now here's your host. What's happening, everybody? How are we doing? Trying something a little new this lovely Monday morning. New podcast I launched a couple of weeks ago called Podcast Suck, a podcast about starting a podcast. And short bite-sized episodes of how to start a podcast, how to grow a podcast, everything all-inclusive with the world of podcasting. I come from the school thought that if you know more than most about a specific topic or subject, it is your responsibility to share that content. So decided to launch the podcast. It's an extension of my book and an extension of the, our YouTube channel and all of the content that I share through my talks and all the content we create on podcasting in one specific podcast. So this is an episode of podcast suck. podcast about starting and growing a podcast. And today's topic is how to monetize a podcast. I get asked this constantly. It feels like I get asked on a daily basis, Sebastian, how do I monetize my podcast fashion? How do I make money with a podcast? These are all fantastic questions. And today I'm going to give you the answers to those on this episode. These episodes are short and sweet, 10 to 12 minutes. Sometimes they're a little bit shorter, sometimes a smidge longer, but the idea is for you to press play for 10 to 12 minutes and walk away with something that you didn't know that you didn't know about the world of podcasting, whether it's starting a podcast, whether it's you're already a podcaster, whatever the case may be. So I will say this the best way. The best way to monetize a podcast is with an audience of one. What do you mean by that? I was giving a talk in Columbus, Ohio last summer, I believe summer before last for sure it was last summer. And the topic of the audience of one came up during our podcasting panel that I was, that I was moderating and It came up for good reason because the other people that were on the panel were clients of ours and they talked about what they did with their podcast to leverage it, to get in front of people that they want to be able to do business with. Somebody labeled that the audience of one. That's not a new term. It was new to me. So I naturally took it and ran with it because I said, wait a second, not only do we teach this at the podcast launch lab for the shows that we're launching, I've actually lived this. That's how I came up with the strategy is that I've actually, live this whole process of being able to create new opportunities, new business, if you will, because I interviewed somebody that I wanted to do business with. And actually the way that it started was that it never really I never set out to say, Hey, I'm going to get Bob on the show, or I'm going to get Mary on the show because I want them to start a podcast with us. It was that I got them on the show leading with value, truly leading with value. Let's get Bob or Mary on the show. Let's talk about what they do, make it all about them. By default, I'm building rapport with them. I'm building a relationship with them. And then when it comes time for me to kind of tongue in cheek, ask at the end of the interview, or before we hang up, after we've recorded the interview, the simple question of, So when he's starting a podcast, a majority of people will say, I have no interest in doing it. We've been thinking about it for a long time. I have no idea where to start. We started and then we stopped. Those are usually the answers that we get. But more times than not, I have people say it's been on the chalkboard for a long time and we haven't done anything about it and we want to change that. In fact, that's what you do when we schedule a call, a chat about what's possible and they end up hiring us. So this happened enough times and I was like, time out. This is the model. I speak on stages. I do comedy. I get in the right rooms. I know how to network and I create content every single day, nonstop, like clockwork every single day I show up. And those five things, contribute to how we earn new business here at the podcast launch lab. And that's new speaking opportunities. That's new comedy opportunities. That's new, uh, podcast launch opportunities. So it's a plethora just based on that specific strategy. But the podcast is a huge component of that is what do I do every time, every single time that I meet a new person. It's great to meet you, Jamie. It's great to meet you, Jason. Get you on the podcast. Why? Well, I get you on the podcast and I just met you. It gives me the opportunity to get to know you a little bit better. We chop it up before the interview. We chop it up after the interview, during the interview, I've built rapport with you by default. So when I go in and ask, Hey, when are you starting a podcast or how can we help each other? Or how can we work together? What can I do for you? You see, a lot of us are concerned with what's in it for me. That's what we live in a, what's in it for me world. But when you lead with what, what can I do for you? You're going to get everything that you want. We've heard that 19 different regurgitated, different type of motivational quotes across the board, but the best way to monetize your podcast is with your guests. That's right. So however you're generating new business right now, All you need to do is figure out who's on that prospect list. Who's been on that prospect list for a minute. Go after them and say, Hey, listen, I just wanted to circle back with you, not to try and ask you to buy my widget. We launched a new podcast and you came to mind, you guys got a great story, got a great brand. And I would love to share that with our audience on the podcast. Are you open to being on the show? If they say no to that, I don't know that you don't even want to concern yourself with them. Think about it. Why wouldn't someone want to be on a podcast? Why wouldn't someone want to come talk about their business, their brand, what they do, how they do it, what value they provide to the world? Why not? That's my question. Why would they not want to? So don't spend too much time on people that don't want to ask somebody one time that they want to be on your podcast. If they say yes, send them a link to book a time to be on the show. If you don't have a calendar link for people to schedule a time to book for your podcast, That's a whole nother episode. And I will get to that on the show. We will cover why you need a calendar link to get guests on your podcast. It's just easier scheduling people to be in one specific place at any given time is very comparable to walking cats. I think a calendar link resolves all that, but back to the topic here, which is how to monetize a podcast specifically with your guests, reach out to your prospects, people that you want to do business with, people that you just met. Those are my favorite. You went to a networking event, you got a business card, follow up with an email. It was great to meet you at the networking event last week, Maria. I would absolutely love to have you on the podcast. And then we can figure out a time to chat about what's possible with you guys starting a podcast. It's a very organic way of gaining interest. It's a very organic way of saying, Hey, I'm interested in you. I'm interested in having a conversation with you. I'm interested in learning more about you. I'm interested in learning more about your business. I'm interested in learning on how we can help each other. Also interested in whether or not you're going to start a podcast. There's several different things that contribute to that audience of one. So, Sebastian, why should I start a podcast? Well, do you like money? Because if you like money, starting a podcast is going to help that process because you can interview people that will give you money for what you do. This blows a lot of people's minds. I've told us a lot of marketers too, and it's becoming more and more of a common practice. And I think this is going to be here for a long while. I just hope one day we're not going to be like, Hey, we want to be on my podcast. Are you going to try and sell me something? It's kind of like the old timeshare deal here. Of course you can come to Orlando for a weekend for free. You just have to sit in a grueling two hour timeshare presentation where you will be absolutely hounded to sign up for something that you absolutely do not need. but for the time being now and for the foreseeable future, being able to sit down and have a conversation with someone productively and build rapport with them is by far the best way to monetize a podcast. I'm gonna do a couple part series on the podcast, uh, monetization and podcast, um, marketing as well. Last episode, we did a podcast marketing and I said, there's going to be more episodes pertaining to podcast marketing. There will be, this one is how to monetize your podcast. I'm going to talk about a couple of other ways. We've got affiliate programs, selling merchandise, a couple of the things you can do to monetize your podcast. outside of trying to be the next Joe Rogan, outside of trying to be the next big podcast out there where you're going to attract a bunch of gigantic sponsors. That's probably not going to happen to most people. I'm not trying to burst bubbles here. You need 10 to 15,000 downloads consistently every month to be able to put in a podcast ad network or even be considered for your show to be monetized with sponsors and ads that may or may not be a fit. There's a better way. The audience have won, and I'm gonna share some other very effective strategies that you can utilize. But remember, I think that a lot of people don't consider the amount of time involved in the investment of time. Everybody wants to start something, record five episodes, and make a million bucks from the podcast after five episodes. And like anything, it takes time. Like anything, it takes time to plant the seed, watch it grow, water it, nurture it, care for it, look after it. That's what you're doing when you're starting a podcast and you're interviewing people. You're not going to create opportunities out of the back. Can you though, can you start a podcast today, interview somebody tomorrow that you want to do business with and end up creating an opportunity? You absolutely can do that. And that my friends is why this is the best way to monetize your podcast is by interviewing your guests, monetizing your guests. There's other ways we're going to cover on future episodes, but I want to start right here because it's by far the most effective strategy that we not only teach here at the podcast launch lab, that I actively live and continue to live because I discovered it a couple of years back. Wait a second. I can have conversations with people that I can do business with. That is absolutely. So questions, thoughts, ideas, concerns about the world of podcasting, about this specific episode, please hit me up on Instagram at podcast suck. That's two S's podcast, plural at podcast suck. And wherever you're watching this right now, YouTube, LinkedIn, Facebook, Instagram, feel free to just send me a message with any questions pertaining to podcasting in general. I'm here to help. And I will see all of you lovely people next time. I really hope this thing actually recorded and went live. Thanks so much for tuning into this episode. Be sure to appreciate it. If you haven't done so already, make sure you're subscribed to the show wherever you consume podcasts. This way you'll receive notifications as new episodes become available. If you'd like to learn more about this project, be sure to check out our website with the link in our podcast description. Thanks again for listening and remember to stay healthy, stay happy, stay clean. Until next time.