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When venturing into the world of podcasting, it's common for newcomers to fixate on monetization as their primary goal. But whether you are just starting or have already published 10, 20 or more episodes, there's more to it than just monetization. Prioritize exploring your underlying 'Whys' and defining your true aspirations in podcasting. By remaining receptive to strategies that resonate with both you and your target audience, the path to monetization naturally unfolds.
Join us in this enlightening 110th episode as Gert engages once again with Jeff Mendelson, the Podcast Superhero, for an insightful continuation on the topic of Podcast Monetization. If you've already committed to podcasting and identified your niche, this episode is tailor-made for you.
Get ready to embrace valuable insights and enriching perspectives!
00:39 Podcast Intro
00:49 Introduction to the episode and welcoming back Jeff Mendelson
02:32 Nailing down your WHYs first before putting out your own podcast.
04:38 What is the main challenge when it comes to making money with a podcast?
10:29 The win-win scenario that happens during the pre-call and post-call of an episode.
18:52 What preparations do you need so that even after a podcast episode there will be continuity of the networking propositions?
21:39 Leveraging what you can bring to the table and the importance of questionnaires.
23:09 The value in additional services, leaving a call to action and coming prepared to talk on someone's show.
27:18 Gert recaps the conversation
29:52 Knowing your avatar and finding more value in networking
31:58 Where to connect with Jeff Mendelson?
Past episode mentioned - Episode 101 - Podcast Monetization with Jeff Mendelson
Connect with Jeff Mendelson:
LinkedIn - https://www.linkedin.com/in/jeffmendelson/
Website - https://jeffmendelson.com/
The One Big Tip Podcast - https://jeffmendelson.com/onebigtip/
Facebook - https://www.facebook.com/onebigtip
Connect with Gert Mellak:
Email: [email protected]
Podcast Monetization With Jeff Mendelson
When embarking on the exciting journey of podcasting, many enthusiasts tend to fixate solely on the potential for monetary gain. However, the path to podcast monetization is more than just a financial pursuit. It’s essential to take a step back and prioritize a thorough exploration of your underlying motivations – your “Whys.”
Join Gert with Jeff Mendelson to continue discussing podcast monetization. So, if you’re serious about podcasting and have already identified your niche, this is for you.
Table of Contents
The Why Behind Your Podcast
Before starting a podcast, it’s important to nail down your “why.”
Overcoming the negative thoughts that can come up is a challenge when you begin. Jeff says that he initially hesitated to start a podcast because he was worried about who would listen and whether he would get any feedback.
However, he quickly realized that podcasting is the ultimate networking tool. Gert agrees, adding that the effort involved in podcasting can be daunting. But it’s worth it if you can find a way to monetize your show.
So, before you start a podcast, take some time to think about why you want to do it.
Is it Hard to Make Money With a Podcast?
Podcasting isn’t about recording, editing, and sharing. When you wish to monetize your podcast, you need to take the right strategy.
According to Jeff, one of the challenges when it comes to podcasting is limiting belief. He says that there’s no formula for making money with a podcast. Yet, the best way to monetize your podcast is to focus on your WHY.
Jeff shares some considerations for successful podcasting, including:
- Establish quality and format. You need to understand the role of audio editing. He advises against handling editing personally if you’re not an expert.
- Use podcasting as a networking tool. Finding the perfect sponsorship fit is rare and may not be the best use of time.
- Advocate for a highly specific niche audience. The ultimate goal is to provide the needs of a niche audience seeking in-depth knowledge.
Gert shares insights on sponsorships. He believes that people often seek sponsorships for immediate gains, but this perspective might not lead to sustainable success.
How Long Does a New Podcast Be Successful?
To know the timeframe for podcast success, you need first to understand these stages in the calling process:
According to Jeff, pre-call involves setting the stage, sharing information, and future pacing. This phase shapes the conversation and provides context for the episode. The actual podcast content is the main attraction—the “meat” that listeners enjoy.
Jeff points out that the hidden gems lie in the post-call interaction. After recording, the conversation continues off the record, maintaining rapport and enthusiasm. He believes in authentically continuing the dialogue, avoiding mere sales pitches. Instead, he aims for a “win-win scenario,” sustaining the benefits that started during the podcast.
Jeff emphasizes the lasting impact of great content, regardless of personal compatibility. Just like in SEO, spending time on pre and post-call interactions is essential. Also, pursuing potential collaborations through follow-up discussions is the same.
The Importance of Follow-Up After Your Podcast Episode
To ensure networking continuity post-podcast, the level of positive engagement during the conversation matters.
Jeff emphasizes the significance of this pre-qualification, as it filters out mismatched or unprepared guests. It prevents calendar cluttering and optimizes discussions for meaningful content.
By examining guests’ engagement on various platforms, like social media and other podcasts, hosts can gauge their communication style and suitability for the show. This approach allows for the selection of engaging and relevant guests who align with the show’s objectives.
Gert agrees that questionnaires are essential. The questions can provide insights into whether the show is right for the guest or vice versa.
How to End Your Podcast With Lasting Impressions
Podcasting isn’t just about the start but how you make a lasting impression on your audience.
Jeff introduces the concept of using a form to prequalify guests, considering their relevance to the show’s timeline. Charging varying amounts to expedite the recording process can be a smart move. However, these services should be aligned with the podcast’s value.
He stresses understanding your podcast’s purpose—is it cost coverage, networking, or maximizing reach?
Jeff shares an interesting observation about the lack of proactive follow-up by guests post-interview. He notes that many guests, even with valuable businesses, miss out on leaving a call to action. You should urge guests to have something to offer, whether it’s a free resource, scheduling a call, or promoting a product/service.
Lastly, focusing more on networking, especially for newcomers, is essential. Each podcaster should identify their driving force and develop strategies to achieve it.
It takes time to create a successful podcast and monetize. So, don’t be discouraged if you don’t see results immediately.
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