When looking to monetize your podcast, it’s hard to know what’s going to get you the most return on your invested time and effort.
Should you start researching and reaching out to advertisers? Look for affiliate promotion opportunities? Start developing your own product or service offer?
Each of these monetization options will take a lot of time to do well.
After all, regardless of what you’re pitching, you’re looking to create a win-win scenario where both you and your listeners walk away better off.
This is the only type of monetization that works in the long run.
Before committing your time and effort to any of these monetization avenues, however, you absolutely must put in the time in getting to know your audience.
Your Most Valuable Use of Time as a Podcaster
In, fact, beyond simply monetization, perhaps the most valuable use of your time as a podcaster is to be talking to, studying, and researching your target audience.
Most podcasters don’t fail to grow and monetize their shows because it’s hard to do so. They fail because they don’t actually know their audiences well enough.
The clearer you are on who your audience is, the clearer the path towards both monetization and growth becomes.
When you know your audience you know exactly the products and services to create and offer them.
When you know your audience you know the types of affiliate promotions that will resonate with them.
When you know your audience, you’re able to find and pitch niche advertisers who are a perfect fit for your audience, and demand ad rates that are 20–30x the supposed “industry standard” rates.
Getting to know and understand your audience down to the finest details is always time well spent.
It’s knowledge that will be not just applicable but invaluable for as long as you are continuing to guide them, and that will open up doors at every stage of your journey.
It allows you to better serve them, and in turn, builds their trust and loyalty to you.
No matter how well you think you know your audience already, challenge yourself to find out something new this week.
Don’t skip the research.
Every Sunday I send out an exclusive article on how to use podcasting to build an audience and grow your business.
No opt-in, no freebie no bribe. But hopefully a new perspective, encouragement, and maybe even some occasional wisdom. It’s something I’m proud to create and I’d be honoured to share it with you.
Jeremy travels full-time, loves long-distance cycle touring, and will always look back on the day he finally saved up enough money to buy the Millennium Falcon Lego set as one of his proudest achievements. He believes that the way to grow sustainable businesses is by leading with heart, vulnerability, and helping your people be and become their best selves.
- Why Wouldn’t They Just Google It? - March 14, 2021
- Before You Can Market Your Podcast, You Need To Create A Marketable Podcast - March 11, 2021
- Podcast Promotion & Marketing Are Different (Here’s How to Use Each Effectively) - March 10, 2021
