Podcasts are listened to by approximately 90 million Americans every month and over $250 million in revenue is generated by podcasts every single month. This is a market that has been growing consistently while providing a reachable platform for you to share your message AND the best part is that there is still so much untapped potential in this space. I read an article that shared that right now, in 2019, there are estimated to be 500 million blogs that exist, 25 million YouTube channels, AND .7 million podcasts. If you are considering starting a podcast, do it! But before you do, read this blog and implement the steps. This will be a 2-part blog so make sure to keep an eye out for part 2.
What you will see is that these steps are creating the foundation for your podcast strategy. Before we implement an additional platform to your brand, you always want to bring yourself through the process of identifying how this aligns with your overall brand, what needs to be created, and how are you going to optimize it. These steps will walk you through the high-level overview of what that process looks like.
As a creator, it is easy to start projects that get you excited, that you find interesting, and that you believe will be fun for you. Which is so awesome. With that being said, it is also easy to start these projects without taking the time to understand who this will serve, the purpose of it, and how it aligns with your brand. This is where the premise comes in. Take the time to determine these 5 components:
- What purpose does this podcast have?
- Who are you going to ‘play’ as the host? (ie persona)
- What lens are you wearing? (ie what problem do you solve and what makes you unique)
- What vantage point do you have? (ie message)
- What is the title going to be?
Podcasts are listened to by approximately 90M Americans/month and over $250M in revenue is generated by podcasts every single month. This is a market that has been growing consistently...#monetizeyourbrand #podcast… Click To Tweet
From here, decide the structure that you are going to follow. When you pre-determine the flow of your episodes, the execution is smoother. For this part, you want to decide:
- How long or short is it going to be? (duration)
- What is the format and/or content that you are going to be sharing?
- How often are you going to release an episode? (frequency)
- What is your opening script?
- What is your closing script?
I would argue that the monetization plan is the #1 most overlooked part for someone starting a podcast. In fact, I truly believe that most people do not start a podcast believing that they have the ability to generate revenue from it. The good news is that you are reading this right now and so now you know that you 100% have the ability to monetize your podcast. If you’re strategic about it. Here are 4 opportunities that you have for driving income from your podcast:
- Video Funnel Call to Action
- Direct Funnel Call to Action
- Monthly Ads
I know that is a lot to consume, think through, and work on. If you have questions, feel free to comment below or e-mail directly at [email protected] I’m excited to hear what you are creating and also, keep an eye out for part 2 of this series.
To learn more about how to build and monetize your personal brand, click here for our free video course
Elle Petrillo is the Host of the upcoming Unfiltered Life Podcast where she challenges people to stop pretending and own who they are. From New York to Montana, Disney Cast member to Door to Door Sales, Partner at 23 to fired at 31, Elle is unapologetically flawed. She is a founding member of Brand Builders Group, where she delivers the honest truth about what it takes to turn your personality into profit.