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The One Tool You NEED To Monetize Your Podcast

by | Jul 18, 2017

Ok, let’s be real here. While the sheer exhilaration and joy of producing podcasts may be enough to sustain us through the slog that can often be the post-production and promotion process, most of us at some point have designs of monetizing our shows. At the very least, we’d like to be able to earn enough to outsource all those sloggy bits and only be left with the bliss and exhilaration.*

*Alriiiiiight! I feel like I should be putting on sunglasses while driving a convertible into the sunset after that last line. Let’s picture it together…

Ok, we’re back.

With that in mind, today we’re going to talk about one of the absolutely essential tools for anyone who wants to eventually make some moolah off of their podcast, but for whatever reason* most podcasters ignore when they first start out.

* Let’s face it, the reason is it’s overwhelming and scary. We’ll cover that.

That tool?

Your email list.

 

Why Your Email List Matters

Right now you might be groaning, squirming in your seat, hanging your head in despair, or are halfway to the ground after jumping through your window. In the last case, I hope you’re alright, but you better get back inside and finish this article, WE’RE GETTING YOU THROUGH THIS DAMMIT!!!

For whatever reason, setting up an email list is one of the most procrastinated tasks for podcasters and solopreneurs of all stripes everywhere. Funnily enough, it’s also one of the biggest regrets of said folks once they actually get established and build up a following, and with good reason.

Pretty much every single monetization strategy you can think of when it comes to your podcast can be improved drastically by the addition of an email list to your arsenal.

Sponsorships?

Check. You’re more valuable to sponsors if you include the option of promoting them through an email list as well

Selling your own products?

Double check. In fact, your chances are almost zilch of doing any meaningful business selling your own products without a list.

Affiliate promo?

Check, check, check. Again, you’ve opened up a whole new stream for promoting theese products or services, and are able to reinforce any promotion you may have included in the actual podcast or on your show notes page.

 

More Than Just Sales

Beyond sheer sales however, there is still more value in developing an email list early on. Because while many of us are still a ways away from monetizing our podcasts (at least we think we are), we all want more downloads and engagement, right?

People are busy, and often it can take a bit of a nudge to remind them that hey, we’re still here putting out great shows!*

* Sounds like a job for a timely email!

The barrier between opening up a reciprocal dialogue with our listeners is also lowered when they’ve invited you into their inbox. Now you’re only a “reply” away from a message, rather than a “close podcast app-open mail app – remember your email address you mentioned in the show – come up with a subject line – ‘nah they won’t read this anyways, I’m not going to bother’ – [delete draft…]”

“Ok, but how do I actually get people onto my email list???”

I’m glad you asked! We go over some surefire ways to convert listeners into list subscribers in this article on how to find out more about your podcast listeners! But for now, we’re going to focus on how to actually go about getting started with an email list, and why it’s not as scary, costly, or time-consuming as you might think.

 

Where To Get Started With An Email List

Ok, so now you can see why an email list is so valuable to so many facets of your podcast, but that doesn’t change the fact that it’s still overwhelming and scares the crap out of you.

“I don’t know what I’m doing when it comes to an email list! What if no one signs up? What if only one person signs up? Am I still supposed to write out emails to ONE PERSON??? What if that person is my MOM??? It sounds time-consuming, I don’t want to do this!!!”

Whoa there, calm down, take a deep breath.

First, and probably most importantly, you have complete control over your email list, so if your mom does end up signing up, you can easily remove her. Presto!*

* Yes, my mom does subscribe to my email list. Hi mom…

Now let’s address the rest of those concerns.

  • Yes, keeping in regular contact with an email list (which is how they’re most effective) is time-consuming.
  • Yes, it might take a while to build up a list of any size.
  • Yes, you’ll need to learn how to use some new software to manage that list*

* Unless you wanna go the old school route and record everyone’s email addresses by hand. That’s cool too.

But here’s the thing, it’s your list and you can run it however you want! You can email a tiny list weekly, monthly, or never, whether you have anything to say or not. But I’m betting that one day you are going to have something worth saying or promoting, and you’re going to want that list, regardless of its size.

 

Baby Steps

Too many of us are scared off because it feels like an obligation. It seems to us that once we set up the list, all of a sudden we have to dedicate time we already don’t have towards building and maintaining it.

I like to reframe it and encourage people that I consult with to sign up with an email list provider as soon as possible, even before they launch their podcast if possible. But I also encourage them to feel absolutely no obligation to do anything with their email list beyond that. At least until they’re ready.

If nothing else, you can include a signup form on your show notes pages and capture any leads that might want to connect. Keep in mind, if people are signing up just based off of a signup form on your website with no tangible benefit to them, these are people you want to have in your circle. They can become some of your biggest evangelists, but you need to have a way to identify and get in touch with them, like an email list…

 

Adult Steps

Once you become more comfortable with the idea of an email list, be this days, weeks or months after starting it, you can start getting more creative with how you recruit people to your list. This can include techniques such as creating content upgrades and offering lead magnets among others.

The important thing is to start out by laying the groundwork now, so when the time comes and you’re ready to dive into the world of email marketing and putting it to use for your podcast, you’re ready to hit the ground running and have one less barrier in your path.

 

Email Service Providers

When it comes to email marketing software providers, there are a number of great companies out there, most of whom cover the same basic services with some unique twists thrown in.

Personally, I am a HUGE fan of Mailer Lite. For one, your account with them is free for up to 1000 subscribers, they offer easily customizable (and awesome looking) landing pages and website signup forms (pop-ups, banners, inline forms, etc), email automation is free, and a ton more. I use the free plan and will likely be with the same plan (as would most podcasters) for a looooooooong time, possibly never needing to upgrade to a paid plan.

Maybe most importantly, their interface is incredibly easy to use and very intuitive.

The one drawback is that they’re a fairly new company and as such, many of the integrations to other apps and software haven’t been developed, although I’ve found some workarounds to achieve everything I want to so far.

More and more people are jumping on the Mailer Lite bandwagon however, and it’s my guess that these integrations are going to be available in short order.

If you’re looking to sign up for Mailer Lite, you can get set up with your free account here!

I want to mention that I am an affiliate of Mailer Lite, but as with everything I recommend, I am a proud (in this case FANATICAL) user of the service myself, and will continue to be for a long time! Seriously, I tell everyone I meet about it pretty much… I used a couple of other email providers before an email consultant whose podcast I was working on suggested Mailer Lite to me over one of the industry standard platforms – which would have cost about $40/month…

Jeremy Enns
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