For the past 5 years I've owned a podcast production company for entrepreneurs and other highly skilled individuals.
And in that time, we've helped our fair share of podcasters. So we know how it goes: at first, your podcast is new and exciting. You are interviewing interesting people, you have content to share on social media, your clients are excited to listen to it… And it takes about two months for the "honeymoon phase" to end.
Which is why most podcasts don't make it past episode 8…
It's no longer new
As with most things, once the novelty wears off, you start noticing the time and money you are investing into podcasting and begin wondering whether the juice is worth the squeeze…
It is around this time that clients reach out to my team and I. They know podcasting can be profitable but they just haven't experienced it as such. And although they enjoy the act of interviewing other people, they would like to get a better ROI from the time they invest in it.
"How soon can we monetize our podcast?"
You should monetize your podcast from the moment you launch it.
But the problem is most people think of monetization as getting sponsors. Essentially, getting paid to podcast. But that's far from the only way. And in fact, it's probably the least efficient way of monetizing a podcast as a highly skilled individual. Here's why.
Every episode is a digital asset working for you 24/7
The mistake most podcasters make is to only promote an episode when it first airs.
Instead, you should keep track of every episode you put out and use them as part of your nurture sequences, your sales funnels, your follow up sequences, etc.
I also like having an evergreen queue in my Socialbee that is randomly resurfacing and resharing my old podcast episodes in my different social media channels.
Click here to schedule your 1:1 call with me and let's get you some positive ROI from your podcasting!