November 12, 2024 • 12 mins
Selling your own products can be a tough journey, with nearly 50% of creators earning less than $10,000 a year and many struggling for years without seeing a single dollar. This episode reveals the harsh realities of monetizing content, highlighting the significant disparities in earnings across platforms like TikTok, Instagram, and YouTube.
However, there's a glimmer of hope with Pensight, a platform that offers affordable tools for creators to sell digital products, coaching, and more without the hefty fees associated with other services like Kajabi. With Pensight's $29 monthly plan and a free trial option, creators can test their ideas and start earning with minimal upfront investment. Join Dave Jackson as he delves into the complexities of content monetization and introduces Pensight as a potential game-changer for aspiring entrepreneurs.
The Stat That Kajabi Missed
As Kajabi is $169/month and Pensight is $29/month Kajabi is over 400% higher. You can sell products on the free plan on Pensight to get proof of concept.
Takeaways:
- Selling your own products can be challenging, with many creators earning less than $10,000 annually.
- Kajabi is a comprehensive platform but is often seen as overpriced compared to alternatives.
- Pensight offers a more affordable solution for effectively selling digital products and services.
- Creators can face long periods without income, highlighting the difficulty of monetization in content creation.
- Building a substantial following is essential for most creators before seeing significant earnings.
- Understanding the financial dynamics of platforms like TikTok and Instagram is crucial for creators.
Links referenced in this episode:
Mentioned in this episode:
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
If you want to sell your ownstuff, the company Kajabi thinks
you need a reality check.
Yeah.
Welcome to Profit from youm Podcast.
Proven Strategies to Turnlisteners into a Livelihood.
Here's your host, Dave Jackson.
So I just saw this page onKajabi, and if you're new to Kajabi,
(00:24):
it is kind of the Cadillac, orat least as seen as the Cadillac
of the all in one tool.
It does email marketing, itdoes landing pages, it does courses,
it does everything.
It slices, it dices, it even juliennes.
And they came out with thisreport that said it's a reality check.
So they had all these statsand hang tight, because I got one
(00:46):
stat that is not from Kajabithat I don't think they would like,
but it said nearly 50% ofcreators earn less than $10,000 in
a single year.
And I'll have a link to whereyou can read this.
For every $100 that TikTokearns, how much do you think of that
goes to the actual, you know, creator?
(01:08):
You ready?
$6.25.
That's pretty horrible.
Who do you think you are, Spotify?
Geez.
Nearly a quarter of creatorsgrind for two years before seeing
a single dollar.
That's 730 days without a paycheck.
And I would say that's true.
I usually tell people threeyears, not before you make a single
(01:30):
dollar, but before you startmaking serious money.
The percentage of revenue thatcreators keep, well, on Instagram,
that would be zero.
On YouTube, it's 55%.
And on, of course, Kajabi,it's a hundred percent.
That is, of course, after youpay them 80 bucks, a single TikTok
(01:55):
view is only worth on average.00,004.
So that is a fraction of a cent.
So yes, this is probably oneof those where like you can make
money from day one.
Yeah, as long as you don'tmind making.000.
They say on average Kajabicreators earned.
(02:16):
And this is of course with athousand subscribers annually, which
is not something easy to do,by the way.
577% more than Instagram creators.
Well, they just saidInstagram, you make zero.
So how do you end up with,okay, 357% more than TikTok creators
and 288% more than YouTube creators.
(02:37):
Now, anytime somebody quotesme percentage, I always kind of want
to go, what are the numbers on that?
And so for instance, if I makea dollar and you make $5, that is
a 400% increase.
So it sounds impressive, butin the end it's four bucks.
Kajabi creators can earn $100,000.
(02:59):
Notice there, the word is cannot do.
But they can create $100,000by converting 350 customers.
So let's do the math on that,shall we?
So wait a minute.
So if I am making, what is it again?
$100,000.
So 10000.
And if we divide that by 350,that means whatever product we're
(03:29):
selling is $28 or $29.
And then of course thequestion is, well, how many downloads
do you have to have to get?
350 people to sign up.
And if you use my stat of 3%,that's 11,667 downloads per episode.
There are 200 million creatorson social platforms and 0% of them
(03:54):
own their channel.
Then this is one of their big points.
And I agree with this.
If you're on YouTube and we'regoing to talk about this and you
get kicked off, you're kind of screwed.
They say 40, 42% of YouTubesof their high earning creators would
lose about, well, 50,000 plusa year if they lost access to YouTube.
(04:17):
So you know, if you get kickedoff, don't say booger.
They get mad when you say booger.
38% of Instagram of their highearning creators, which again I still.
How do you earn when you getto keep 0%?
But okay, you're, you'reearning through other things.
I'm assuming sponsored spotsand stuff.
Again, 50,000 plus and 37% ofhigh earning creators would lose
(04:42):
50,000 plus on TikTok.
All right, so now this is,I've never really been a huge Kajabi
fan.
I know many people that use itand they really like it.
And so it's not because it's abad product, I just think it's overpriced.
So let's say we're going monthly.
(05:03):
And of course as I record thisnow it's November in 2024 and they're
doing a 50% off deal and theirgrowth plan is normally $160 a month.
Now they say zero transaction fees.
Yeah, because you just gavethem 160 bucks.
We have unlimited landingpages, unlimited marketing emails,
(05:28):
25,000 contacts and 15products in one website.
So I get that.
But again there is a limit.
You can have 10,000 active customers.
That would be really, I don'tthink you're ever going to run out
of that.
And so when I looked at thisand I'm like, okay, 160 bucks.
And like I said, I know peoplethat use Kajabi and they think it's
(05:50):
great, but I'm just sayingthere are other services and I'm
going to actually launch asmall course on a tool called Switchy
and I'm going to use Pensitefor this.
And why?
Because you get to selldigital products.
You can sell coaching, one toone sessions, unlimited courses,
(06:12):
unlimited kind of bundles.
You can sell group events, youcan do video Q&As, you can do memberships,
These are all built in.
You can do group programs andpayment plans, subscription payments,
pay what you want.
You can drip a course, you canaccelerated payouts, custom intake
(06:32):
forms.
You can have comments in yourcourses, which kind of everybody
does, but email broadcast,email automations, marketing automations,
upselling funnels, and yourown affiliate program, which Kajabi
does as well.
You can have external links onyour website, you can have text,
video and images, you cancollect emails.
I mean, I could go on and on.
(06:54):
And the fun part of this isthey do have video calls, by the
way.
This is really meant forcoaches that sell digital products.
It integrates with your Google Calendar.
I did play with the freeversion of this and that was really
impressive.
And when it comes toanalytics, you can tie in Google
Analytics.
(07:14):
They work with Zapier.
You can do the Metapixel, theTikTok, pixel, blah, blah.
Okay, Dave, enough.
What's the price for Pensite?
There's a seven day free trialand then it's, are you ready for
this?
And it's almost that.
Okay, there's got to besomething wrong with it.
Which is why I want to make acourse just to put it on here.
(07:35):
It's $29 a month.
Yeah.
And I'm like, wait, what?
$29 a month?
And Kajabi was what, 160 whenit's not on sale?
And so I appreciate the workthat Kajabi went into, explaining
how the best way to make moneywith your podcast is to sell your
(07:55):
own stuff, sell your ownproducts and services, coaching services,
all these different ways that,you know, you could basically have
a group event, sell tickets toit, and then take the finished video
file and sell that as adigital product.
And when I saw it, I was like,I really thought, oh, this is probably
one of those places where youhave to go get like a Venmo account,
(08:16):
not Venmo, Vimeo account.
Or use YouTube for the hosting.
Nope, hosting's built in.
Oh, then there's gotta be alimit on the number of courses.
Nope, it's just every time Ithink what's the catch?
There isn't one.
They do have a $99 a monthplan, but all it basically does is
they will basically move yourcourses for you and you get a bi
(08:39):
weekly call with a growth manager.
So if you want some coaching,I guess.
But I just, I couldn't believe it.
So I thought when I saw this,I'm like, well, good on Kajabi for
pointing this out.
The only thing for me is Istill think Kajabi is overpriced
when you got things like Pensite.
So when it comes time to makemoney with your podcast, I will say
(09:02):
it over and over, the numberone way to do it.
Not that the other ways arebad, but the most profitable.
In fact, I did some math.
I was speaking at a podcastevent, Pod Indy this weekend and
if I sold one course to onestudent for 99 bucks, if I was doing
the programmatic ads, I wouldhave to have 25,000 downloads to
(09:25):
be the equivalent of sellingone course to one student for 99
bucks.
If you've never sold a productor if you're not sure somebody wants
your product, in just a secondI'm going to tell you why Penn site
is an amazing choice.
(10:50):
What I love about this is yes,they have a free plan that still
lets you charge.
Now they're going to take 3%and some of the extra like payment
options.
But if you just want to sellsomething for one fee, like, hey,
it's 19 bucks pay here, youcan do this.
So why is that so amazing?
If you have a product andyou're like, I think I could sell
(11:13):
this.
I'm not really sure.
You could easily set it uphere on their free plan and then
just pay them the 3%, they'llhost the file, all the above.
It's a great way to test an idea.
It is proof of concept.
When you have people start tobuy, then you can pay the 29 bucks
(11:35):
a month and get all the otherbells and whistles to really put
some fire on this thing.
But when I saw that, I waslike, that's amazing.
So I have links, by the way,there is an affiliate program for
Pensite.
There is an affiliate programfor Kajabi.
I'm just not part of thatbecause kind of in true Kajabi fashion,
you have to pay to be an affiliate.
(11:55):
But I'm not promoting Pennsite because they have an affiliate.
I'm promoting them becausesomebody said, hey, have you ever
heard of this?
This looks too good to be true.
And when I went over and didsome research I was like, this is
kind of too good to be true.
And then I saw at the bottomof the page, they have an affiliate.
So if you use that, I earn asmall commission and it doesn't cost
you a dime.
(12:15):
If you're interested in makingmore money from your podcast, check
out the book profit from yourpodcast by going to profitfromyourpodcast.com
book as I get done, right now,I'm going over to record another
chapter in the audiobook.
I'm Dave Jackson.
I help podcasters.
It's what I do, and I can'twait to see what we're going to do
(12:37):
together.
If you want to sell your ownstuff, the company Kajabi thinks
you need a reality check.
Yeah.
Welcome to Profit from youm Podcast.
Proven Strategies to Turnlisteners into a Livelihood.
Here's your host, Dave Jackson.
So I just saw this page onKajabi, and if you're new to Kajabi,
(00:24):
it is kind of the Cadillac, orat least as seen as the Cadillac
of the all in one tool.
It does email marketing, itdoes landing pages, it does courses,
it does everything.
It slices, it dices, it even juliennes.
And they came out with thisreport that said it's a reality check.
So they had all these statsand hang tight, because I got one
(00:46):
stat that is not from Kajabithat I don't think they would like,
but it said nearly 50% ofcreators earn less than $10,000 in
a single year.
And I'll have a link to whereyou can read this.
For every $100 that TikTokearns, how much do you think of that
goes to the actual, you know, creator?
(01:08):
You ready?
$6.25.
That's pretty horrible.
Who do you think you are, Spotify?
Geez.
Nearly a quarter of creatorsgrind for two years before seeing
a single dollar.
That's 730 days without a paycheck.
And I would say that's true.
I usually tell people threeyears, not before you make a single
(01:30):
dollar, but before you startmaking serious money.
The percentage of revenue thatcreators keep, well, on Instagram,
that would be zero.
On YouTube, it's 55%.
And on, of course, Kajabi,it's a hundred percent.
That is, of course, after youpay them 80 bucks, a single TikTok
(01:55):
view is only worth on average.00,004.
So that is a fraction of a cent.
So yes, this is probably oneof those where like you can make
money from day one.
Yeah, as long as you don'tmind making.000.
They say on average Kajabicreators earned.
(02:16):
And this is of course with athousand subscribers annually, which
is not something easy to do,by the way.
577% more than Instagram creators.
Well, they just saidInstagram, you make zero.
So how do you end up with,okay, 357% more than TikTok creators
and 288% more than YouTube creators.
(02:37):
Now, anytime somebody quotesme percentage, I always kind of want
to go, what are the numbers on that?
And so for instance, if I makea dollar and you make $5, that is
a 400% increase.
So it sounds impressive, butin the end it's four bucks.
Kajabi creators can earn $100,000.
(02:59):
Notice there, the word is cannot do.
But they can create $100,000by converting 350 customers.
So let's do the math on that,shall we?
So wait a minute.
So if I am making, what is it again?
$100,000.
So 10000.
And if we divide that by 350,that means whatever product we're
(03:29):
selling is $28 or $29.
And then of course thequestion is, well, how many downloads
do you have to have to get?
350 people to sign up.
And if you use my stat of 3%,that's 11,667 downloads per episode.
There are 200 million creatorson social platforms and 0% of them
(03:54):
own their channel.
Then this is one of their big points.
And I agree with this.
If you're on YouTube and we'regoing to talk about this and you
get kicked off, you're kind of screwed.
They say 40, 42% of YouTubesof their high earning creators would
lose about, well, 50,000 plusa year if they lost access to YouTube.
(04:17):
So you know, if you get kickedoff, don't say booger.
They get mad when you say booger.
38% of Instagram of their highearning creators, which again I still.
How do you earn when you getto keep 0%?
But okay, you're, you'reearning through other things.
I'm assuming sponsored spotsand stuff.
Again, 50,000 plus and 37% ofhigh earning creators would lose
(04:42):
50,000 plus on TikTok.
All right, so now this is,I've never really been a huge Kajabi
fan.
I know many people that use itand they really like it.
And so it's not because it's abad product, I just think it's overpriced.
So let's say we're going monthly.
(05:03):
And of course as I record thisnow it's November in 2024 and they're
doing a 50% off deal and theirgrowth plan is normally $160 a month.
Now they say zero transaction fees.
Yeah, because you just gavethem 160 bucks.
We have unlimited landingpages, unlimited marketing emails,
(05:28):
25,000 contacts and 15products in one website.
So I get that.
But again there is a limit.
You can have 10,000 active customers.
That would be really, I don'tthink you're ever going to run out
of that.
And so when I looked at thisand I'm like, okay, 160 bucks.
And like I said, I know peoplethat use Kajabi and they think it's
(05:50):
great, but I'm just sayingthere are other services and I'm
going to actually launch asmall course on a tool called Switchy
and I'm going to use Pensitefor this.
And why?
Because you get to selldigital products.
You can sell coaching, one toone sessions, unlimited courses,
(06:12):
unlimited kind of bundles.
You can sell group events, youcan do video Q&As, you can do memberships,
These are all built in.
You can do group programs andpayment plans, subscription payments,
pay what you want.
You can drip a course, you canaccelerated payouts, custom intake
(06:32):
forms.
You can have comments in yourcourses, which kind of everybody
does, but email broadcast,email automations, marketing automations,
upselling funnels, and yourown affiliate program, which Kajabi
does as well.
You can have external links onyour website, you can have text,
video and images, you cancollect emails.
I mean, I could go on and on.
(06:54):
And the fun part of this isthey do have video calls, by the
way.
This is really meant forcoaches that sell digital products.
It integrates with your Google Calendar.
I did play with the freeversion of this and that was really
impressive.
And when it comes toanalytics, you can tie in Google
Analytics.
(07:14):
They work with Zapier.
You can do the Metapixel, theTikTok, pixel, blah, blah.
Okay, Dave, enough.
What's the price for Pensite?
There's a seven day free trialand then it's, are you ready for
this?
And it's almost that.
Okay, there's got to besomething wrong with it.
Which is why I want to make acourse just to put it on here.
(07:35):
It's $29 a month.
Yeah.
And I'm like, wait, what?
$29 a month?
And Kajabi was what, 160 whenit's not on sale?
And so I appreciate the workthat Kajabi went into, explaining
how the best way to make moneywith your podcast is to sell your
(07:55):
own stuff, sell your ownproducts and services, coaching services,
all these different ways that,you know, you could basically have
a group event, sell tickets toit, and then take the finished video
file and sell that as adigital product.
And when I saw it, I was like,I really thought, oh, this is probably
one of those places where youhave to go get like a Venmo account,
(08:16):
not Venmo, Vimeo account.
Or use YouTube for the hosting.
Nope, hosting's built in.
Oh, then there's gotta be alimit on the number of courses.
Nope, it's just every time Ithink what's the catch?
There isn't one.
They do have a $99 a monthplan, but all it basically does is
they will basically move yourcourses for you and you get a bi
(08:39):
weekly call with a growth manager.
So if you want some coaching,I guess.
But I just, I couldn't believe it.
So I thought when I saw this,I'm like, well, good on Kajabi for
pointing this out.
The only thing for me is Istill think Kajabi is overpriced
when you got things like Pensite.
So when it comes time to makemoney with your podcast, I will say
(09:02):
it over and over, the numberone way to do it.
Not that the other ways arebad, but the most profitable.
In fact, I did some math.
I was speaking at a podcastevent, Pod Indy this weekend and
if I sold one course to onestudent for 99 bucks, if I was doing
the programmatic ads, I wouldhave to have 25,000 downloads to
(09:25):
be the equivalent of sellingone course to one student for 99
bucks.
If you've never sold a productor if you're not sure somebody wants
your product, in just a secondI'm going to tell you why Penn site
is an amazing choice.
(10:50):
What I love about this is yes,they have a free plan that still
lets you charge.
Now they're going to take 3%and some of the extra like payment
options.
But if you just want to sellsomething for one fee, like, hey,
it's 19 bucks pay here, youcan do this.
So why is that so amazing?
If you have a product andyou're like, I think I could sell
(11:13):
this.
I'm not really sure.
You could easily set it uphere on their free plan and then
just pay them the 3%, they'llhost the file, all the above.
It's a great way to test an idea.
It is proof of concept.
When you have people start tobuy, then you can pay the 29 bucks
(11:35):
a month and get all the otherbells and whistles to really put
some fire on this thing.
But when I saw that, I waslike, that's amazing.
So I have links, by the way,there is an affiliate program for
Pensite.
There is an affiliate programfor Kajabi.
I'm just not part of thatbecause kind of in true Kajabi fashion,
you have to pay to be an affiliate.
(11:55):
But I'm not promoting Pennsite because they have an affiliate.
I'm promoting them becausesomebody said, hey, have you ever
heard of this?
This looks too good to be true.
And when I went over and didsome research I was like, this is
kind of too good to be true.
And then I saw at the bottomof the page, they have an affiliate.
So if you use that, I earn asmall commission and it doesn't cost
you a dime.
(12:15):
If you're interested in makingmore money from your podcast, check
out the book profit from yourpodcast by going to profitfromyourpodcast.com
book as I get done, right now,I'm going over to record another
chapter in the audiobook.
I'm Dave Jackson.
I help podcasters.
It's what I do, and I can'twait to see what we're going to do
(12:37):
together.
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