December 16, 2024 • 18 mins
In this episode we’ll talk about what options a podcast with less than 1,000 listeners has for monetizing, the strength of a loyal and targeted audience and what I’d do to share the value of my podcast with advertisers, even though I have a relatively small listener base.
Links in this Episode:
1. Listen to Ep. 40: The Podcaster's Guide to Making and Selling Your First Digital Product
https://morganfranklin.media/podcasters-guide-to-making-and-selling-your-first-digital-product/
2. Buy Your Customizable Podcast Media Kit:
https://podcastsforprofit.com/products/podcast-media-kit-and-rate-card
3. Want to sell a digital product? Use my free tool that sends you 10 ideas made for YOUR podcast:
https://form.jotform.com/Morgan_Franklin/podcast-digital-product
4. Find out more about Creators Jay Clouse and Lloyd George:
Jay Clouse:https://creatorscience.com/
Lloyd George: https://www.youtube.com/@LloydNotGeorge
Other Helpful Links:
📌 Work with Me 1:1 for Podcast Coaching:
https://morganfranklin.media/contact-morgan-franklin
👩🏻💻 Shop My Podcast Template Store:
https://podcastsforprofit.com
👋🏽 Let's connect! You can find me on LinkedIn, Pinterest, Instagram, Threads, and TikTok.
🙋🏻♀️ Questions? Comments? Ideas? Message Me:
morgan@morganfranklin.media
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Morgan Franklin (00:02):
I remember my first podcast got 100 followers
on Apple podcasts, and Ithought, I have cracked the code
on podcasting. I remember I wason a vacation with my family,
and the podcast had about 15episodes. I was on top of the
world. Now, what I didn't knowis that, in the eyes of most
(00:24):
advertisers and other podcastersthat actually knew what they
were doing, having 100 followerson a podcast is about as useful
as having 100 followers on anyother platform. In this episode,
we'll talk about what options apodcast with less than 1000
listeners has for monetizing thestrength of a loyal and targeted
(00:48):
audience, and what I do to sharethe value of my podcast with
advertisers, even though I havea relatively small listener
base. Hello and welcome topodcast for profit. My name is
Morgan Franklin. I'm a PodcastProducer, strategist and
educator. This podcast will helpyou create and grow a podcast
(01:09):
that cuts through the noise ofsocial media and speaks directly
to your target audience. Ifyou're ready to create a podcast
that will align you with theexperts in your industry,
position yourself as a trustedleader and create another source
of revenue for your business.You're in the right place. You
know, making money on theinternet or anywhere for that
(01:30):
matter, is all aboutintentionality. You're not gonna
make a six figure business byaccident, and you're not gonna
wake up one morning and yourpodcast is worth $100,000 I
think the concept of viralityhas tricked some people into
thinking that making contentisn't about intentionality and
(01:50):
hard work and serving youraudience. It's the luck of the
algorithm. And you know, whilesome aspects of that might be
true for social media, itcouldn't be further from the
truth. For podcasts, there arerare situations where someone
might stumble across yourpodcast just organically,
without any effort or promotionfrom you. But I'm telling you,
(02:13):
those instances are very, veryfar and few between. But what
does this have to do with youmaking money with a small
podcast audience, right from thebeginning, from day one, of you
either creating your podcast ordeciding that you do want to
make money from this podcast,you have to think about the
value you can provide. This iswhere intentionality comes into
(02:36):
the fold, and you have to belaser focused on what you want.
So let's go back to Morgan thatsummer in 2021 realizing on
vacation that her podcast has100 followers. So let me explain
something about this podcast.It's a community Lifestyle
podcast, and while we did have atargeted audience, we didn't
(02:56):
have a targeted audience to makemoney from, which is a very
important distinction you'll seein just a minute. We were
providing value, but we weren'tproviding a value that could
easily be turned into money. Wewere focused on improving the
listener experience and notreally focusing on monetizing
this podcast. And again, this iswhy having intentionality is so
(03:18):
important. Because for us, inthat moment that was okay. We
were growing a community oflisteners, and we weren't really
too concerned with making moneyfrom them. Let's fast forward to
earlier this year, when Istarted this podcast that you're
listening to right now. From dayone, I was focused on making
this podcast part of my clientoutreach and my business
(03:40):
marketing. So looking at thefirst 100 followers of this
podcast was essentially likelooking at 100 potential
customers for my business. Nowis that to say that all 100 of
my first podcast followersbecame my clients? No, no way
I'd say somewhere between oneand five of them did. But that's
okay. Honestly, that's great.The point I'm trying to get at
(04:02):
here is that your intentionalityand direction from day one is
critical to the long termfinancial success of this
podcast, because if people arecoming for fun and entertainment
and to hang out, turning thatlistener into a buyer is gonna
be a long road. Is itimpossible? No, of course not.
(04:24):
You buy from people that you'rejust hanging out with on their
podcast all the time, but willit take longer to convert them
into a buyer? Most likely, nomatter how you're trying to make
money with your podcast, there'sone thing all of us need to
remember. There is nothing moreimportant than having an
audience that knows likes andtrusts you for all my marketers
(04:45):
listening, I know this concepthas been burned into our brains,
but I think that that's one ofthe most universal truths across
podcasting. People want to buyfrom who they know like and
trust. But how do you do that?How do you create an audience
that knows, likes and trusts youfrom your podcast? First of all,
(05:05):
if you can get them to listen tothe podcast, I'd say that you're
at least halfway there. I mean,I'd be hard pressed to think of
too many situations where Ilistened to a podcast of someone
that I had no idea who they wereand I didn't like them. So let's
just kind of take that out ofthe equation for a minute, we'll
say that this person is alreadylistening to your podcast so
they know who you are and theylike you well enough to listen
(05:27):
to your podcast. Now, how areyou going to complete the Holy
Trinity and make them trust you,trust you enough to keep
listening to you, trust youenough to buy from you. How are
we going to build that trust? Sohere are a few things that I'd
focus on in the beginning,especially when I have under
1000 followers, because that issuch a critical time for making
(05:51):
sure that your audience trustsyou, that they want to come back
every week and listen to you,make sure that you're airing
episodes consistently. So manypodcasters lose listeners and
lose their own confidence inpodcasting because they're not
airing episodes consistently.And think about this, why would
you invest in a podcast or apodcaster that you didn't know
(06:15):
if they were going to be postingnew episodes? You wouldn't and
so this is the first line ofbuilding trust, even in real
life, we need to know thatpeople are gonna be where they
say that they'll be and do whatthey say they're gonna do next
is having thoughtful andinteresting information on your
podcast episodes. This can meanso many different things, so I'm
(06:35):
not necessarily meaning it tomean any specific thing, but
don't just talk about what youwant to talk about, figure out
who your ideal listener is, andstart making content for them
and them only the most powerfulthing that you can do as a
podcaster is have episodespeople actually want to listen
(06:56):
to, and I know this isgroundbreaking, but make sure
that your listener wants tosubscribe and hear more. Here's
my challenge for you. I want youto at the end of every month,
when you're looking at yourdownloads and you're trying to
figure out how you did in thepast month, sort your episodes
from most downloaded of all timeand most downloaded that month,
(07:17):
and look at what people aredownloading. Try to figure out
what your audience wants to hearfrom you, and this might change
over time, and that's why I saylook at your entire podcast and
then look at what's beingdownloaded this month. Lastly,
have a measured approach toselling your own products or
anyone else's. Don't recommendproducts if you don't use them
(07:40):
yourself, especially in thebeginning, we are being sold to
as consumers and listeners andbuyers. 24/7 Don't be the
influencer that you can't stand.And when you're selling do it
from an earnest place. That'sokay. I love to hear people's
genuine recommendations. And ifyou're partnering with a brand
(08:02):
that you don't know very well,get to know them. Know the
product. Know why you love theproduct, if you are selling,
sell from the heart. So afteryou've taken a hard look at your
podcast and your audience andhow to build trust with said
audience, how are you actuallygoing to make money with less
(08:23):
than 1000 listeners? Like I saidearlier, there's a big
difference between 1000listeners that are following you
for a variety of reasons. Let'ssay that you have a podcast that
speaks to a lot of differentdemographics and listeners, and
you'll just randomly pick uppeople here and there. There is
a big difference between sellingto a wide net audience and a
(08:44):
highly specific targetedaudience, the more that you can
move towards that highlyspecific targeted audience, the
easier that it will be for youto find advertisers, to find
partnerships and affiliate codesand To sell your own products
and services and even to createvalue with your podcast. No
(09:05):
niche is too niche. I'll tellyou about a podcast I produce
for hairstylist entering thebeauty industry. Now, most
people would think if you'recreating a podcast for
hairstylists, it should bespeaking to every hairstylist,
right at every different phasethat would have so many more
opportunities to grow listenersand make money and everything
(09:26):
else. But that is not true. Andyou know why? Because New
hairstylists going into theindustry have a totally
different set of problems andopportunities and questions than
stylists that have been in theindustry for five or 10 or 20
years, these are all people attotally different parts of their
journey. And why would we try toput it all together, to not
(09:49):
speak to any of them? Becausewhat about the week we do an
episode for the stylist that'sbeen in the industry for 20
years, and then the next week wedo one for the stylist that has
been in for 10. Years, and thenthe week after that is for the
stylist that's been in for fiveyears. And guess what? We've
totally lost that new stylist,and they're gonna go look for a
(10:09):
podcast that is actually givingthem what they want and is the
information that they need,because they don't care what the
stylist that's been in theindustry 20 years. They don't
care about their problem. Soyou've just lost your listener
because you are not speaking tothem. Don't be afraid to go into
your niche and dig into yourmessage and speak to that one
(10:29):
person at that one time. You'renot losing out on having more
listeners by doing this, you aretelling that one person that you
created the podcast for. Hey, Imade this for you. And then when
you're selling to them, it'sthat much easier to have 100
listeners that you've cultivatedand say, Hey, I made this
podcast for you. And then youproved over time by building
(10:53):
their trust. Remember the know,like and trust, that is how you
are going to make money with 100listeners, when someone with
10,000 listeners can't sellanything a friend to all is a
friend to none. So make surethat you know exactly who you
want to be friends with throughthis podcast and speak to them
(11:14):
directly. Speak to them everyweek. Speak to them from your
heart, and speak to them whenyou're selling if you have less
than 1000 followers, of courseyou should be working every day
to build your audience and togrow the right listeners. 1000
listeners will open the door.100,000 listeners will build the
(11:35):
house. But there's still somethings that we can do at every
point of our podcasting journeyto make money with our podcast.
So first and foremost, I thinkyou know what I'm gonna say,
it's selling your own productsand services. Now, what if you
think of Morgan, I don't haveany products and services. And
you know what I'd say to thatyou don't have any products and
(11:55):
services yet. Not yet. Okay, soif you have a podcast, there is
not one reason that you are notoffering some kind of consulting
on the thing that your podcastis about. If you know so much
about this thing that you havemade a podcast about it, why are
you not consulting for people inthat field? So step one is you
(12:16):
are not letting people pick yourbrain for free. You are a
consultant in this industry, youare going to have an hourly rate
that you tell people when theyask you, Hey, can I ask you
about this? You're gonna say,Hey, I have an hourly fee. I
mean, this is a huge, multibillion dollar industry. Just
take a little bit of time if youare not doing consulting
already, and look up, hey. Howcan I become a consultant in my
(12:37):
field? Again, if you have apodcast about something, I don't
really see a reason that youalso do not have a consulting
fee to go along with it. Next.And again, I know that. You
know. I'm gonna say this isdigital products. I have a whole
episode on digital products. Iwill link it in the episode
description. I also have a toolthat you can use that will email
you 10 ideas for digitalproducts, but do some research
(12:57):
on digital products. What couldyou create that would make your
listeners life easier, or thatthey actually need take some
time to think about that andthink about how you could
actually help your listener andwhat you could create for them
when we look outside of what wepersonally can offer so with our
own products and services, thisis where, again, you have to be
(13:19):
so intentional and so Bristolclear on what your podcast is
offering. Do you want a partnerfor your podcast? Do you want
ads? Why should someone buy adsfrom you, if you have less than
1000 listeners, what else canyou provide to me to let me know
that I am someone that youshould advertise with? There is
(13:41):
such a power in microinfluencers. But what is your
power? What do you know aboutyour audience? What proof do you
have of the influence over youraudience? That's what you need
to be able to communicate,especially if you're doing cold
outreach to brands. You need toknow what influence do you have
(14:02):
over your audience, even if it'sa small audience. Think about
this. Think about RodeMicrophones for just a minute.
Would they rather advertise witha smaller creator like me that
creates only content forpodcasters? Or, for example,
would they like to advertisewith Joe Rogan, the biggest
podcaster in the world. Lots ofpeople that might want to become
(14:25):
podcasters that listen to him,right? I mean, I believe it
would make more sense for themto advertise with me or someone
like me, because while I haveless listeners, I have a greater
impact. But then it becomes myburden, especially if I have
under 1000 listeners, to proveto them why I would be the best
use of their money. Because eventhough I have a more specific
(14:48):
audience, how much do I actuallyspeak to my audience? So taking
that all into account andfiguring out, okay, hey, how can
I explain this to someone who Iwant to part. With me to have an
ad on my podcast, and I thinkone of the easiest ways to do
this is to have a media kit. Ihave a media kit template that
you can customize, or you canmake your own, but show up
(15:11):
looking like the person who issomeday going to have a million
listeners show up like thepodcast that you want to be. The
next thing is affiliatemarketing, and whether you're
doing it with a brand that has abigger program, or you are
asking a smaller business togive you a promo code, start
with affiliate marketing,especially if you are not
(15:31):
getting any bytes fromtraditional ads, they only have
to pay you money when they makemoney. So usually, businesses
are way more open to givingsmaller creators a chance, and
that's why I always bring thisup when I'm trying to help
people who are new podcastersget some kind of revenue coming
through their podcast. Thinkabout affiliate marketing. Think
(15:51):
what you can speak onpassionately and that you could
actually get people to buybecause, you know, it works so
well. Ask these people if theyhave affiliate marketing, and
how can you get involved withtheir business? You have to ask
for what you want, and you haveto ask for it directly,
especially as a smaller creator,especially when you don't have
(16:14):
the clout that other podcastersmight have. But the beauty of
podcasting is it's still a verynew industry, and most of the
time, people don't fullyunderstand how it could be of
value to their business orbrand. So you could be the
person that explains, hey, thisis why you should partner with
me. This is why you should havean ad on a podcast. So take it
(16:36):
from that side. Take it from thefact that many people don't
really know what it would looklike to advertise with a
podcast. So if you have abeautiful media kit and you come
and you say, Hey, this is whatmy audience looks like. This is
what I am able to do with myaudience that can be their
introduction to podcastadvertising. You don't have to
worry about all those biggerpodcasts because they've never
(16:56):
even talked to a podcast before.Before we go, there are two
creators that I want you to lookup sometime this week, or when
you're done with this episode,if you don't know them already.
The first one is Jay Klaus. Ihope I'm saying his last name
right with creator science ishis podcast name. The other one
is Lloyd George. He is a UGCexpert, and I think that they
just both have so muchinformation to share with small
(17:20):
creators on how to make money,and, more importantly, how and
what it will take. I'll link theinformation for both of them in
the episode description. If youhave less than 1000 listeners
and you want help making amonetization plan, please book a
free 30 minute exploratory callwith me. I'd love to help you
out. I've been where you are. Iknow what you're going through
(17:42):
if you want to use my digitalproduct idea tool that will also
be linked in the episodedescription with my customizable
podcast media kit. And asalways, I can't wait to listen
to your podcast. Hey. Thank youso much for joining me on this
episode. If you enjoyed thepodcast and you'd like to hear
more episodes like this one, goahead and subscribe to the show.
(18:04):
New episodes air every Mondaymorning. And if you've found
this episode valuable and youwant to help other business
owners and podcasters, we leaveme a five star review. It helps
the show rank higher in thecharts and brings more
entrepreneurs the informationthey need to start making money
on their podcast.
I remember my first podcast got 100 followers
on Apple podcasts, and Ithought, I have cracked the code
on podcasting. I remember I wason a vacation with my family,
and the podcast had about 15episodes. I was on top of the
world. Now, what I didn't knowis that, in the eyes of most
(00:24):
advertisers and other podcastersthat actually knew what they
were doing, having 100 followerson a podcast is about as useful
as having 100 followers on anyother platform. In this episode,
we'll talk about what options apodcast with less than 1000
listeners has for monetizing thestrength of a loyal and targeted
(00:48):
audience, and what I do to sharethe value of my podcast with
advertisers, even though I havea relatively small listener
base. Hello and welcome topodcast for profit. My name is
Morgan Franklin. I'm a PodcastProducer, strategist and
educator. This podcast will helpyou create and grow a podcast
(01:09):
that cuts through the noise ofsocial media and speaks directly
to your target audience. Ifyou're ready to create a podcast
that will align you with theexperts in your industry,
position yourself as a trustedleader and create another source
of revenue for your business.You're in the right place. You
know, making money on theinternet or anywhere for that
(01:30):
matter, is all aboutintentionality. You're not gonna
make a six figure business byaccident, and you're not gonna
wake up one morning and yourpodcast is worth $100,000 I
think the concept of viralityhas tricked some people into
thinking that making contentisn't about intentionality and
(01:50):
hard work and serving youraudience. It's the luck of the
algorithm. And you know, whilesome aspects of that might be
true for social media, itcouldn't be further from the
truth. For podcasts, there arerare situations where someone
might stumble across yourpodcast just organically,
without any effort or promotionfrom you. But I'm telling you,
(02:13):
those instances are very, veryfar and few between. But what
does this have to do with youmaking money with a small
podcast audience, right from thebeginning, from day one, of you
either creating your podcast ordeciding that you do want to
make money from this podcast,you have to think about the
value you can provide. This iswhere intentionality comes into
(02:36):
the fold, and you have to belaser focused on what you want.
So let's go back to Morgan thatsummer in 2021 realizing on
vacation that her podcast has100 followers. So let me explain
something about this podcast.It's a community Lifestyle
podcast, and while we did have atargeted audience, we didn't
(02:56):
have a targeted audience to makemoney from, which is a very
important distinction you'll seein just a minute. We were
providing value, but we weren'tproviding a value that could
easily be turned into money. Wewere focused on improving the
listener experience and notreally focusing on monetizing
this podcast. And again, this iswhy having intentionality is so
(03:18):
important. Because for us, inthat moment that was okay. We
were growing a community oflisteners, and we weren't really
too concerned with making moneyfrom them. Let's fast forward to
earlier this year, when Istarted this podcast that you're
listening to right now. From dayone, I was focused on making
this podcast part of my clientoutreach and my business
(03:40):
marketing. So looking at thefirst 100 followers of this
podcast was essentially likelooking at 100 potential
customers for my business. Nowis that to say that all 100 of
my first podcast followersbecame my clients? No, no way
I'd say somewhere between oneand five of them did. But that's
okay. Honestly, that's great.The point I'm trying to get at
(04:02):
here is that your intentionalityand direction from day one is
critical to the long termfinancial success of this
podcast, because if people arecoming for fun and entertainment
and to hang out, turning thatlistener into a buyer is gonna
be a long road. Is itimpossible? No, of course not.
(04:24):
You buy from people that you'rejust hanging out with on their
podcast all the time, but willit take longer to convert them
into a buyer? Most likely, nomatter how you're trying to make
money with your podcast, there'sone thing all of us need to
remember. There is nothing moreimportant than having an
audience that knows likes andtrusts you for all my marketers
(04:45):
listening, I know this concepthas been burned into our brains,
but I think that that's one ofthe most universal truths across
podcasting. People want to buyfrom who they know like and
trust. But how do you do that?How do you create an audience
that knows, likes and trusts youfrom your podcast? First of all,
(05:05):
if you can get them to listen tothe podcast, I'd say that you're
at least halfway there. I mean,I'd be hard pressed to think of
too many situations where Ilistened to a podcast of someone
that I had no idea who they wereand I didn't like them. So let's
just kind of take that out ofthe equation for a minute, we'll
say that this person is alreadylistening to your podcast so
they know who you are and theylike you well enough to listen
(05:27):
to your podcast. Now, how areyou going to complete the Holy
Trinity and make them trust you,trust you enough to keep
listening to you, trust youenough to buy from you. How are
we going to build that trust? Sohere are a few things that I'd
focus on in the beginning,especially when I have under
1000 followers, because that issuch a critical time for making
(05:51):
sure that your audience trustsyou, that they want to come back
every week and listen to you,make sure that you're airing
episodes consistently. So manypodcasters lose listeners and
lose their own confidence inpodcasting because they're not
airing episodes consistently.And think about this, why would
you invest in a podcast or apodcaster that you didn't know
(06:15):
if they were going to be postingnew episodes? You wouldn't and
so this is the first line ofbuilding trust, even in real
life, we need to know thatpeople are gonna be where they
say that they'll be and do whatthey say they're gonna do next
is having thoughtful andinteresting information on your
podcast episodes. This can meanso many different things, so I'm
(06:35):
not necessarily meaning it tomean any specific thing, but
don't just talk about what youwant to talk about, figure out
who your ideal listener is, andstart making content for them
and them only the most powerfulthing that you can do as a
podcaster is have episodespeople actually want to listen
(06:56):
to, and I know this isgroundbreaking, but make sure
that your listener wants tosubscribe and hear more. Here's
my challenge for you. I want youto at the end of every month,
when you're looking at yourdownloads and you're trying to
figure out how you did in thepast month, sort your episodes
from most downloaded of all timeand most downloaded that month,
(07:17):
and look at what people aredownloading. Try to figure out
what your audience wants to hearfrom you, and this might change
over time, and that's why I saylook at your entire podcast and
then look at what's beingdownloaded this month. Lastly,
have a measured approach toselling your own products or
anyone else's. Don't recommendproducts if you don't use them
(07:40):
yourself, especially in thebeginning, we are being sold to
as consumers and listeners andbuyers. 24/7 Don't be the
influencer that you can't stand.And when you're selling do it
from an earnest place. That'sokay. I love to hear people's
genuine recommendations. And ifyou're partnering with a brand
(08:02):
that you don't know very well,get to know them. Know the
product. Know why you love theproduct, if you are selling,
sell from the heart. So afteryou've taken a hard look at your
podcast and your audience andhow to build trust with said
audience, how are you actuallygoing to make money with less
(08:23):
than 1000 listeners? Like I saidearlier, there's a big
difference between 1000listeners that are following you
for a variety of reasons. Let'ssay that you have a podcast that
speaks to a lot of differentdemographics and listeners, and
you'll just randomly pick uppeople here and there. There is
a big difference between sellingto a wide net audience and a
(08:44):
highly specific targetedaudience, the more that you can
move towards that highlyspecific targeted audience, the
easier that it will be for youto find advertisers, to find
partnerships and affiliate codesand To sell your own products
and services and even to createvalue with your podcast. No
(09:05):
niche is too niche. I'll tellyou about a podcast I produce
for hairstylist entering thebeauty industry. Now, most
people would think if you'recreating a podcast for
hairstylists, it should bespeaking to every hairstylist,
right at every different phasethat would have so many more
opportunities to grow listenersand make money and everything
(09:26):
else. But that is not true. Andyou know why? Because New
hairstylists going into theindustry have a totally
different set of problems andopportunities and questions than
stylists that have been in theindustry for five or 10 or 20
years, these are all people attotally different parts of their
journey. And why would we try toput it all together, to not
(09:49):
speak to any of them? Becausewhat about the week we do an
episode for the stylist that'sbeen in the industry for 20
years, and then the next week wedo one for the stylist that has
been in for 10. Years, and thenthe week after that is for the
stylist that's been in for fiveyears. And guess what? We've
totally lost that new stylist,and they're gonna go look for a
(10:09):
podcast that is actually givingthem what they want and is the
information that they need,because they don't care what the
stylist that's been in theindustry 20 years. They don't
care about their problem. Soyou've just lost your listener
because you are not speaking tothem. Don't be afraid to go into
your niche and dig into yourmessage and speak to that one
(10:29):
person at that one time. You'renot losing out on having more
listeners by doing this, you aretelling that one person that you
created the podcast for. Hey, Imade this for you. And then when
you're selling to them, it'sthat much easier to have 100
listeners that you've cultivatedand say, Hey, I made this
podcast for you. And then youproved over time by building
(10:53):
their trust. Remember the know,like and trust, that is how you
are going to make money with 100listeners, when someone with
10,000 listeners can't sellanything a friend to all is a
friend to none. So make surethat you know exactly who you
want to be friends with throughthis podcast and speak to them
(11:14):
directly. Speak to them everyweek. Speak to them from your
heart, and speak to them whenyou're selling if you have less
than 1000 followers, of courseyou should be working every day
to build your audience and togrow the right listeners. 1000
listeners will open the door.100,000 listeners will build the
(11:35):
house. But there's still somethings that we can do at every
point of our podcasting journeyto make money with our podcast.
So first and foremost, I thinkyou know what I'm gonna say,
it's selling your own productsand services. Now, what if you
think of Morgan, I don't haveany products and services. And
you know what I'd say to thatyou don't have any products and
(11:55):
services yet. Not yet. Okay, soif you have a podcast, there is
not one reason that you are notoffering some kind of consulting
on the thing that your podcastis about. If you know so much
about this thing that you havemade a podcast about it, why are
you not consulting for people inthat field? So step one is you
(12:16):
are not letting people pick yourbrain for free. You are a
consultant in this industry, youare going to have an hourly rate
that you tell people when theyask you, Hey, can I ask you
about this? You're gonna say,Hey, I have an hourly fee. I
mean, this is a huge, multibillion dollar industry. Just
take a little bit of time if youare not doing consulting
already, and look up, hey. Howcan I become a consultant in my
(12:37):
field? Again, if you have apodcast about something, I don't
really see a reason that youalso do not have a consulting
fee to go along with it. Next.And again, I know that. You
know. I'm gonna say this isdigital products. I have a whole
episode on digital products. Iwill link it in the episode
description. I also have a toolthat you can use that will email
you 10 ideas for digitalproducts, but do some research
(12:57):
on digital products. What couldyou create that would make your
listeners life easier, or thatthey actually need take some
time to think about that andthink about how you could
actually help your listener andwhat you could create for them
when we look outside of what wepersonally can offer so with our
own products and services, thisis where, again, you have to be
(13:19):
so intentional and so Bristolclear on what your podcast is
offering. Do you want a partnerfor your podcast? Do you want
ads? Why should someone buy adsfrom you, if you have less than
1000 listeners, what else canyou provide to me to let me know
that I am someone that youshould advertise with? There is
(13:41):
such a power in microinfluencers. But what is your
power? What do you know aboutyour audience? What proof do you
have of the influence over youraudience? That's what you need
to be able to communicate,especially if you're doing cold
outreach to brands. You need toknow what influence do you have
(14:02):
over your audience, even if it'sa small audience. Think about
this. Think about RodeMicrophones for just a minute.
Would they rather advertise witha smaller creator like me that
creates only content forpodcasters? Or, for example,
would they like to advertisewith Joe Rogan, the biggest
podcaster in the world. Lots ofpeople that might want to become
(14:25):
podcasters that listen to him,right? I mean, I believe it
would make more sense for themto advertise with me or someone
like me, because while I haveless listeners, I have a greater
impact. But then it becomes myburden, especially if I have
under 1000 listeners, to proveto them why I would be the best
use of their money. Because eventhough I have a more specific
(14:48):
audience, how much do I actuallyspeak to my audience? So taking
that all into account andfiguring out, okay, hey, how can
I explain this to someone who Iwant to part. With me to have an
ad on my podcast, and I thinkone of the easiest ways to do
this is to have a media kit. Ihave a media kit template that
you can customize, or you canmake your own, but show up
(15:11):
looking like the person who issomeday going to have a million
listeners show up like thepodcast that you want to be. The
next thing is affiliatemarketing, and whether you're
doing it with a brand that has abigger program, or you are
asking a smaller business togive you a promo code, start
with affiliate marketing,especially if you are not
(15:31):
getting any bytes fromtraditional ads, they only have
to pay you money when they makemoney. So usually, businesses
are way more open to givingsmaller creators a chance, and
that's why I always bring thisup when I'm trying to help
people who are new podcastersget some kind of revenue coming
through their podcast. Thinkabout affiliate marketing. Think
(15:51):
what you can speak onpassionately and that you could
actually get people to buybecause, you know, it works so
well. Ask these people if theyhave affiliate marketing, and
how can you get involved withtheir business? You have to ask
for what you want, and you haveto ask for it directly,
especially as a smaller creator,especially when you don't have
(16:14):
the clout that other podcastersmight have. But the beauty of
podcasting is it's still a verynew industry, and most of the
time, people don't fullyunderstand how it could be of
value to their business orbrand. So you could be the
person that explains, hey, thisis why you should partner with
me. This is why you should havean ad on a podcast. So take it
(16:36):
from that side. Take it from thefact that many people don't
really know what it would looklike to advertise with a
podcast. So if you have abeautiful media kit and you come
and you say, Hey, this is whatmy audience looks like. This is
what I am able to do with myaudience that can be their
introduction to podcastadvertising. You don't have to
worry about all those biggerpodcasts because they've never
(16:56):
even talked to a podcast before.Before we go, there are two
creators that I want you to lookup sometime this week, or when
you're done with this episode,if you don't know them already.
The first one is Jay Klaus. Ihope I'm saying his last name
right with creator science ishis podcast name. The other one
is Lloyd George. He is a UGCexpert, and I think that they
just both have so muchinformation to share with small
(17:20):
creators on how to make money,and, more importantly, how and
what it will take. I'll link theinformation for both of them in
the episode description. If youhave less than 1000 listeners
and you want help making amonetization plan, please book a
free 30 minute exploratory callwith me. I'd love to help you
out. I've been where you are. Iknow what you're going through
(17:42):
if you want to use my digitalproduct idea tool that will also
be linked in the episodedescription with my customizable
podcast media kit. And asalways, I can't wait to listen
to your podcast. Hey. Thank youso much for joining me on this
episode. If you enjoyed thepodcast and you'd like to hear
more episodes like this one, goahead and subscribe to the show.
(18:04):
New episodes air every Mondaymorning. And if you've found
this episode valuable and youwant to help other business
owners and podcasters, we leaveme a five star review. It helps
the show rank higher in thecharts and brings more
entrepreneurs the informationthey need to start making money
on their podcast.
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