Podcasting Is Not Going To Lead To Direct ROI
I've been podcasting for more than 15 years. I'll be honest, I've never gotten direct ROI from the podcasting. You need to think about it differently.
I've been podcasting for more than a decade and none of it has produced direct income/ROI for me. What it has done is much more valuable. Don't let this discourage you.
Podcasting has enabled me to build up a personal brand, build out a new division of Goldstein Media, Podcast Mastery, and indirectly HAS led to ROI.
I do get some revenue, albeit a very small amount, from the advertising that's on my two podcasts from the Marketing Podcast Network. But that might be $100 a month if that.
But, honestly, I'm not doing my Entrepreneur's Enigma and Digital Marketing Dive podcasts for the direct ROI, I'm doing them for the chance to be a subject matter expert. And in that way I've succeeded.
I've had to break it to my clients that they're not going to be the next Joe Rogan or Mel Robbins. Those two had built in audiences from their TV shows and for being really well known across many different verticals.
So I burst that bubble as quickly as I can when I'm working with my clients. It's important to set expectations.
If you have 300 quality listeners every month to your show and they engage with you regularly, that's 100 times better than having double or triple that don't engage.
The best way to capitalize on your podcast is to have a plan in place on how you're going to sustain it. Both with your energy and budget. Having a clear plan is key to becoming an "established podcaster." I put that in quotes because to be established there is an arbitrary threshold of 100+ episodes and/or 2 years putting out shows. Who came up with that metric and why, I'm not sure.
But I digress. *Don't act surprised 😏😉
You need to think outside-the-box when it comes to getting more value out of your show. Here's three ideas that I see podcasters using to get ROI from their show:
- Start a community - Don't start with it being paid, but build it out, get people talking and engaging, then offer paid for bonus, like master classes or 1-on-1 sessions with you.
- Launch a Patreon - Don't start this at the beginning of your journey. But a ways in you can see how engaged your listeners are and offer perks to becoming a patron.
- Offer a special service to your listeners - Something that is in your wheelhouse that is exclusive to your audience.
In the end don't try and monetize your show thinking that you're going to be rich. Because you'll be setting yourself up for disappointment. Think outside the box and most of all HAVE FUN.
The Latest From The Entrepreneur's Enigma Podcast
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Web Jawn
Taryn Plumb
A good use for AI in medicine.
Matthew Mountjoy
This is another good use for AI if it works correctly.
Saskia Welch
Mastodon and journalism FTW.
Danny Goodwin
Then on the flip side, AI isn't sending traffic to sites as much any more especially through Google and it's Gemini AI. “Today, 75 percent of the queries… get answered without you leaving Google,” Cloudflare CEO Matthew Prince says.
Danny Goodwin
Can't beat AI, learn how to live with it and get it to work for you.
Andrew Hutchinson
New updates from Meta. These might be compelling but Meta is still a very icky company if you ask me.
Andrew Hutchinson
This could be interesting.
Zack Whittaker
This is great news!
David Pierce
It's all about the $$$$$$$! Not one bit altruistic. 🙄
Jay Peters
This is good news. More money for the creators.
Tom Webster
Tom Webster, of Sounds Profitable, always has good insights.
Roger Montti
Don't be putting out fake content and you'll be fine. 🤔😁😉
Mike Elgan
Perplexity is a force to be reckoned with.
Ipstenu (Mika Epstein)
Mika Epstein makes some good points that unbanning people in the WordPress ecosystem can't be done in bulk. Some bans need to stick for safety reasons. Matt Mullenweg really make a mess of everything, IMHO. 😖🙄🤔
Ivan Mehta
This Figma tool looks really cool! Wish it would tie in easier with WordPress, but still very cool.
Natasha Sommerfeld
AI search is taking over. Some interesting and some worrisome stats in this report.
Simon Lim
This is good news. I'm happy to hear this as a customer.
This looks like a great video deep dive with an expert in the SEO space.
Lauren Goode
A whole new world!
Noah Davis
Half-baked but a start of something... maybe?
🎙️Podcast Coaching 🎙️
I've been podcasting since 2010. During those 12+ years I've learned a thing or two about the ins and outs of the industry and approaching it the right way.
I've decided to offer podcast coaching as a service to share the knowledge that I've accumulated over the decade-plus in the industry.
Web Finds And More Fun Stuff
Matthew Gault
File this under the WTAF category. I have so many questions! This is such a strange thing. I'm not sure what to think about this. On one hand it's the sister's impact statement being read by AI as her brother. But on the other hand it's "reanimating" a dead person who can't have a say in their likeness being used.
James Cridland
Great tips from Mr. Podnews himself, James Cridland.
David Nield
Good PSA for iPhone Users.
Matthew Gault
This is what makes the Inter-Webs great!
Ben Schoon
End of an era!
That's It For This Week! Keep Rocking It!
-Seth
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