Let's face it, building an internet business is time consuming and money consuming. And no one really wants to do anything that doesn't pay for itself. Even though you have to do article marketing or teleseminar marketing or video marketing or email marketing to drive traffic you will always want to turn a profit from it if you can.
And podcasting is no different.
So can you turn a profit from podcasting?
Well of course the simple answer is that's why you are doing it. Podcasting not only helps you build traffic but it also increases your credibility. And ultimately your credibility (your expertise) is what you are selling. Your products are just how you monetize that credibility as an expert.
But let's not stop there. Can you turn your podcasting into a product that you can sell? Can you turn a profit from your podcasting? Here are four methods that will help pay for your podcasting and make a profit from it. Of course, most of these are advanced techniques and you will have to have created a reputation already. But they are possible.
1. You can sell access to your podcast as a subscription. Yes, Virginia people will pay to listen to your dulcet tones. Well, actually for the great information that you are giving them week after week. This is really no different than a newsletter that people pay for on a monthly basis. People will pay for an audio magazine which teaches them and entertains them. Try mixing interviews and editorials and other formats with your training (learning) content. That way you'll give a little something for everyone and attract a wider audience. You'll also be giving your regular audience a little variety in their weekly listen.
2. You can sell a podcast as part of a monthly membership program. One of the joys of a membership program is coming up with enough content to keep people interested and maintaining their membership. A podcast can be one more form of content. And because it is easy compared to most other media, it can help keep the associated workload under control.
3. Podcasts are a repeating product. That means they accumulate on your hard drive. But it also means that they disappear from your website. In fact, most podcasts are only available until the next podcast. (Okay, sometimes the last one is kept available but you get the idea). That means that you will have content that accumulates but isn't available any longer. So package it up and sell it as a standalone product. Packaging in this case may mean simply creating a collection or it may mean editing segments together. Both collections and standalone products can be sold.
4. Okay, now I admit that this is borderline, but you can use your podcasts as a bonus. Often when selling other products you may need to include a bonus product to increase sales. In fact, you almost always have to include bonuses to close the sale. Podcasts on the same subject make great bonuses. Especially if you can create a package of them.
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