How Podcasting Can Unlock Lucrative Monetization Models

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 12 May 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2452, Neil and Eric talk about the different monetization models available for podcasters. From the most common model of ads to promoting your own products and services and selling premium podcast subscriptions, you’ll hear Eric explain the typical monetization models. Then Neil argues why he feels all podcasts and content should be free as you pursue reaching the right audience or Total Addressable Market (TAM) with your services. Tuning in you’ll also hear about the novel concept of “ads for equity” and the company that has successfully pulled this off. TIME-STAMPED SHOW NOTES: [00:00] Today’s topic: How Podcasting Can Unlock Lucrative Monetization Models. [00:36] Ads as the most common podcast monetization model. [00:56] Promoting your own products and services as another typical monetization model. [01:32] Selling podcast subscriptions for premium content. [01:42] Why most of your content should be given away for free. [02:10] Monetizing through conferences. [02:18] Why Neil focuses on reaching the right audience over monetizing podcasts or other media. [03:30] The types of Total Addressable Markets (TAMs) you want to aim for. [06:01] Short-term money versus long-term money. [06:29] The example of Tegus and “ads for equity” is a different monetization model that you can pursue. [07:55] That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: DreamHost Shopify Athletic Grade Tegus Don’t forget to help us grow by subscribing and liking on YouTube! Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	All right, so we want to talk about how podcasting can produce lucrative monetization models.
0:07.2	And I actually got this idea yesterday as I was flying back from Turkey en route to Miami and I was listening to a
0:13.5	podcast and this one guy was just talking about the different
0:16.3	monetization models and you know first of all for this
0:19.5	podcast the way we want to start this one is talk about the typical monetization models that you might know about
0:24.4	and then we want to talk about different ideas that you can pursue if you want to start a
0:28.9	podcast. So Neil, you want to go first or do you want me to go?
0:32.1	Go for it. It was your idea based on your flight, so go for it.
0:36.0	All right.
0:37.0	So obviously the most common monetization models for podcasts are ads.
0:42.0	So for example, on this podcast we have
0:44.4	Dream Host and we've tested with Shopify. We're now going to test with
0:47.8	athletic greens. So Neil, I'm actually going to have to send you a package of
0:50.4	athletic greens, so you're going to have to try it yourself and the point is that's a very
0:54.9	common way of monetizing but you can also what else is common you can promote your own products
0:59.9	you can promote your own services and at some point when we do our longer reaction videos
1:03.9	I actually didn't tell you this but I'm going to have you record a 30 second
1:07.4	video promoting your products or your services so it could be MP Digital and I
1:10.9	might record the 30 second ad promoting my stuff.
1:13.0	That way we can put them into longer episodes.
1:15.0	So you can promote your own products and services.
1:17.0	I tend to believe that that's more lucrative because you have better margins
	...

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