The companion podcast to the hit book Profit From Your Podcast covers insights and strategies to help you monetize your podcast.
Two Monetization Strategies That Aren't Worth The Customer Causing Headaches
We all love customers, but there are some people who are NOT your target audience, and yet we create strategies that cause unrealistic expectations in your customers, or we get a great customer who can be a little forgetful.
The Black Friday SaleWhen you do one of those HOLY COW - UNBELIEVABLE DISCOUNT Black Friday kind of sale, you get two types of customers.
The customer purchases and does nothing with your product as they have no skin in the game
A customer who didn't read the offer, but jumps in because it is so good, and then expect much, MUCH more than what is included in the offer
Consequently, (after doing two) I will not do a "Black Friday / DEEP DISCOUNT" offer.
The Yearly SubscriptionThis typically brings you your target audience. They are a joy to work with, and they are action takers.
However, a year later they forgot they purchased a recurring membership program. This leads to:
Emails the day after they get charged asking, "Hey I didn't authorize this!"
I just got an email from someone who purchased my product. They worked for a company, and each year they have been charged. Now two years later, they want their money back.
Two Ways To Solve This IssueYou can set a trigger in your CRM (I Use Less Annoying CRM) and remind them that their year subscription is coming up. Alert them how to cancel their subscription if needed.
I also now send an email a week before the charge to alert them that their subscription payment is coming up.
Another Strategy To Solve This IssueA yearly subscription is an easy-to-make "higher ticket price" item. You might consider raising the price on the subscription and making it "Lifetime Access" this way you get the benefits of an action-taking customer, and you don't have to worry about "I didn't authorize this payment."
Mentioned in this episode:
Need Help Growing Your Show?
Do you know why your show isn't growing? (Probably not as you are TOO CLOSE to the content and you've lost your objectivity). I can help spot that low-hanging fruit that you missed.
Schedule a strategy session today and let's get your show growing at a faster pace.
https://profit-from-your-podcast.captivate.fm/strategy (Strategy Session)
How Much Do I Charge ?
You have a product, service, or potential sponsor and you have no idea what to charge. Some questions you may want to ask
How niche is your audience? (the more niche - the more you can charge)
What problem does your product solve?
Can you make money with your product/service?
How will you charge (avoid CPM for sponsors)
Whatever you first land on for a price it is probably not enough (we all underprice).
What is the cost of your product/service
Boost Your Coaching and Consulting with This Magical Free App
I haven't been this excited about a tool in a while. It's so powerful, and yet so early to use. I also love that it works on EVERYTHING and that is what https://hi.volley.app/land?tk=tksvhWUSnuPf5SijztPR6Y-tk (Volley )does. It works on PC, Mac. Andoid, or iPhone and it has revolutionized how I'm handling questions with my community.
Josh Little InterviewJosh is an experienced CEO launching multiple successful startups in the past. Today we get insights into:
Time Shifted Screen Sharing and Dave's School Analogy
When Did Volley Become an Idea?
Moving Your Community From Facebook
Can You Lock Down https://hi.volley.app/land?tk=tksvhWUSnuPf5SijztPR6Y-tk (Volley)?
Issues Trusting a Free Platform
How Long Has https://hi.volley.app/land?tk=tksvhWUSnuPf5SijztPR6Y-tk (Volley )Been Around?
Find Josh at https://www.linkedin.com/in/littlejosh/ (https://www.linkedin.com/in/littlejosh/)
Mentioned In This Episodehttps://videocreators.com/ (Tim Schmoyer (video Creators))
https://hi.volley.app/land?tk=tksvhWUSnuPf5SijztPR6Y-tk (Volley App)
https://www.schoolofpodcasting.com/start (School of Podcasting)
https://www.profitfromyourpodcast.com/book (Profit From Your Podcast Book)
What Problem Do You Solve?
If you want to make money with your podcast, you need to solve a problem.
The Dos and Don'ts of Dynamic Content
More media hosts are adding the ability to add dynamic content. It sounds too good to be true, and when not used properly it can really make you sound like an amateur.
Are You Promoting Your Competition for Pennies? - The Blind Side of Crowd Funding
Be careful using crowdfunding with "shot outs" as a reward.
Great info to monetize your podcast
Dave Jackson has tried pretty much everything when it comes to podcasting! His advice is from time tested mistakes, experiences and trials.
Get his book, I’m using it to monetize my podcast.
David Jackson is approaching this idea in the utmost professional way. I myself am amazed that people still take the potential of the podcast medium for granted. I have operated a podcast that has made money so this topic is near and dear to me. David's content is spot on. Good info and good sound. Well done.
Dave be the man
What ever Dave says, it is pleasant, and worth our time. Thanks Dave, for all of the help. Please, do not stop!