Why You Don't Make Money With Your Podcast – PTC 304

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By Erik K. Johnson. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

You get held back when you don't know what you don't know. There are 7 pitfalls that you need to avoid if you hope to make money with your podcast. If you are struggling to figure out how to make money with your podcast, be sure you have solved these issues.

Your podcast allows you a great opportunity to demonstrate your authority while talking about a topic that you love. How great is that?

If you structure the focus of your show properly, your podcast can be an amazing tool to drive your business and generate revenue.

FREE TRAINING TO MAKE MONEY

I want to invite you to a training on Tuesday where I will teach you 7 different ways you can easily attract your ideal clients using a podcast. Register for free at www.PodcastTalentCoach.com/growth.

Using what I learned attaining my MBA, I have spent the last 30 years in radio refining how to create effective marketing campaigns to attract listeners and clients alike. I have used those skills to teach podcasters how to do the same since 2013. Those proven ideas have now been distilled into these 7 concepts that I will teach you.

You can learn them all on Tuesday. I will offer a replay as well, but only if you preregister. Get in now at www.PodcastTalentCoach.com/growth.

Do you want to grow your audience, increase your downloads and add subscribers to your podcast?

Would you like to leverage your audience and authority in your niche to monetize your show?

Do you want to grow your audience in just a few minutes a day using time-saving tips to consistently produce and promote your content?

You can get all of that and more on Tuesday. It is a 60-minute training with a replay available. If it is time to let go of the trial and error, come get the step-by-step formula.

MORE THAN ONE WAY

Many people believe sponsorships and advertising are the only ways to make money with a podcast. Untrue. In fact, you shouldn't clutter up your show with ads. Instead, use your podcast as a powerful marketing tool for your business. Today, I am going to teach you how to do just that.

Podcasting is huge. You have incredible power in front of you. Let me show you some numbers.

There are nearly 1 million podcasts today. On the other hand, there are 600 Million blogs and 1.3 billion YouTube videos. Where do you want to compete?

Podcast search engine Listen Notes reports there were 246,782 podcast debuts last year alone. Today, more than 90 million people in the U.S.— approximately 32% of the U.S. population over the age of 12 — have listened to a podcast in the past month according to Edison Research.

According to The Nielsen Company, the total podcast audience is growing at a compound average growth rate of 20%. And that could mean the overall audience for the medium could double within the next five years. Now is the time to stake your claim in your niche. Get noticed and build your audience.

Let's talk about why many podcasts don't make money. There are a few reasons podcasts don't make money or attract clients.

WHAT ARE YOU SELLING?

The first issue is you don't have anything to sell.

When podcasters contact me for coaching, our first step is a podcast strategy session. During that call, we define goals and the strategy to achieve those goals.

Though the questions vary, one seems to consistently come up. "How can I make money with my podcast?" I ask, "What are you selling?"

Can your listeners currently give you money for anything?

As coaches and content creators, you probably have something to sell. You just need more people to buy it.

ARE YOU ASKING?

The second problem is you are not asking for the sale.

Podcasters say, "Yeah, Erik. I have a course for sale. Nobody is buying it."

Have you told anyone about it?

One of my buddies has a great course available. I had known him for six months before I knew anything about it.

Once you build your rapport through your podcast, the "yes" should become a formality if you actually ask for the sale and help your listener succeed.

THE PAIN

Next, podcasts don't make money because you haven't uncovered the true pain

It is much easier to "not sell" when you are solving a pain rather than offering a benefit. There is a saying that "more people buy aspirin than vitamins." People are more willing to pay to get out of pain than experience a pleasure.

When you are solving that pain, you need to ensure you have uncovered the true pain.

On your podcast, you could be answering questions from you listeners. You will see some commonalities develop that uncover the true pain of your audience. It is like market research right on your show.

MORE REASONS

There are 3 more reasons podcasts don't make money. I'll be covering those in the free training on Tuesday. I will also give you 7 ways to make money with your podcast.

Sign up for free at www.PodcastTalentCoach.com/growth.

Would you like to have a clear, step-by-step blueprint to grow your audience? You will learn how to get that when you join us on Tuesday. You can build a plan to grow your audience that you can consistently implement in as little as 15 minutes a day.

Podcasting is only getting bigger. Now is the time to lay the foundation to be known as an influencer and respected authority in your niche. When you build you show the right way, you can consistently attract listeners who become raving fans, share your podcast, and purchase your programs.

Learn how on Tuesday. Sign up for free at www.PodcastTalentCoach.com/growth. I can't wait to see you there.

Do you need help with your podcast? Check out www.PodcastTalentCoach.com/coaching. Let's see what we can do.

Let's turn your information into engaging entertainment.

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