Monetization shouldn’t be the one revenue you may get from podcasting! And you should not be the one one to revenue, both! Nonetheless, right here is why I believe it is best to put P.R.O.F.I.T. first in each side of your podcast.
The order of podcasting cornerstones
Earlier than we give attention to podcasting P.R.O.F.I.T., I need to revisit how I’ve taught the 5 podcasting cornerstones for a number of years:
- Content material—What your podcast is about
- Presentation—The way you share your content material
- Manufacturing—The technical aspect to scale back distractions and enhance understanding
- Promotion—The way you market and develop your podcast
- P.R.O.F.I.T.—The way you and your viewers profit out of your podcast.
Although these cornerstones have all the time had an alliteration downside with no appropriate resolution, I spotted it had a good greater downside whereas I used to be getting ready to show podcasting on the Nationwide Spiritual Broadcasters conference. The issue was the order: P.R.O.F.I.T. ought to not be final! It ought to truly be first!
However keep on with me and do not click on away since you assume this does not apply to you! Earlier than I can clarify why P.R.O.F.I.T. ought to be first, I would like you to know what it’s, and why I hold writing it like an over-obvious acronym (it is truly an acrostic).
The Podcast P.R.O.F.I.T. Paradigm™
A number of years in the past, I used to be impressed by a typo I let go to press in an commercial for my now quickly retired Podcaster’s Society™. On account of that typo, I needed revenue to face for one thing! Not solely within the metaphorical sense, but additionally actually as an acrostic.
Now, it is my Podcast P.R.O.F.I.T. Paradigm, which is an inventory of whys you possibly can profit out of your podcast:
- Recognition—rising a following, being an influencer, changing into identified
- Relationships—gaining friendships, constructing neighborhood, and discovering your “tribe”
- Alternatives—opening doorways for issues like public talking, journey, testing merchandise earlier than they’re launched, and such
- Enjoyable—merely having time, with or with out laughter
- Revenue—sure, incomes cash!
- Tangibles—getting belongings you get to make use of or hold, which is very worthwhile after they’re related to your podcast matter!
Whereas most individuals assume “revenue” means “cash,” I problem you to alter your pondering and have a look at the a lot greater methods you possibly can revenue out of your podcast—particularly when you do not even need to monetize your podcast.
The opposite paradigm shift is that your podcast mustn’t solely give you P.R.O.F.I.T., however additionally provide it to your viewers! I am going to clarify that extra in a second.
P.R.O.F.I.T. is for all podcasters, not solely professionals
Lest you assume P.R.O.F.I.T. is just for individuals who podcast for enterprise functions or to strive incomes a dwelling, cash is just one a part of the Podcast P.R.O.F.I.T. Paradigm: the I for revenue. The opposite methods might complement revenue, however there’s nothing incorrect with podcasting merely for the enjoyable of it!
Once I hosted a clean-comedy podcast, the P.R.O.F.I.T. we have been after was primarily to snicker and assist others snicker, too! Alongside the way in which, we additionally shaped relationships, got enjoyable tangibles from our viewers, and we even made a bit cash on the aspect.
And when you are podcasting to construct a enterprise, do not neglect the opposite features of P.R.O.F.I.T.! It is okay to have enjoyable with skilled topics! And all the time search for methods to place your self for alternatives and extra!
Your podcast P.R.O.F.I.T. ought to energy your choices
Why ought to P.R.O.F.I.T. come first? As a result of it is truly extra vital than your content material. Take into account the cornerstones on this method:
- Content material is what attracts an viewers
- Presentation is what retains the viewers
- Manufacturing is what makes your podcast stick
- Promotion is what brings an viewers to you
- P.R.O.F.I.T. is the impression your podcast makes
Begin with Why: How Nice Leaders Encourage Everybody to Take Motion. And “why” is one other method to think about P.R.O.F.I.T. with these two questions:
- Why are you doing this podcast?
- Why ought to anybody pay attention or watch?
Whenever you begin with P.R.O.F.I.T. in thoughts, then you possibly can choose the fitting content material to share. And the opposite cornerstones construct from there. After you realize your “why” and your content material, then you possibly can resolve on one of the best ways to current it. Then, one of the best ways to provide that. Then you definitely’ll have issues and strategies to put it on the market.
However when you do not begin with P.R.O.F.I.T., you will not know what content material to share, and you will not know one of the best ways to speak it, and also you definitely will not know the best way to produce it, and—frankly—you would not provide a lot worth price selling.
This is a collection of questions that follows the Podcast P.R.O.F.I.T. Paradigm that can assist you podcast one of the best ways:
- Why do you need to podcast? What worth will your podcast give your viewers?
- What content material greatest permits your P.R.O.F.I.T. targets?
- What’s one of the best ways to current that content material that strikes you towards to your P.R.O.F.I.T. targets?
- What’s one of the best ways to provide this that leads you and your viewers in the fitting course?
- Whom must you promote your podcast to and what are the most effective methods to succeed in them?
Keep in mind P.R.O.F.I.T. in your viewers
I’ve heard some individuals say, “Podcast for your self. Should you’re having enjoyable, that is all that issues.” And I’ve additionally heard different individuals say, “You are podcasting in your viewers, so give attention to their wants first.”
Whereas these may appear opposite, they’re truly complementary and easily totally different sides of the identical P.R.O.F.I.T. coin: each you and your viewers have to get worth out of your podcast to ensure that your podcast, your self, and your viewers to enhance and develop.
However the issue I see most frequently is that podcasters neglect to give attention to what worth they provide their viewers. As a substitute, they usually fixate on the worth they need from their viewers, or on how they’ll basically promote their viewers to get worth from another person (like an advertiser).
As Jesus mentioned, “Give and it will likely be given to you” (Luke 6:38).
Some podcasters additionally obsess over the manufacturing features of podcasting, with out investing the identical money and time into bettering the extra weight-bearing cornerstones.
It is high quality in case your podcast makes you fashionable, however how are you serving to your viewers to be fashionable, too?
It is nice while you foster or kind new relationships due to your podcast, however how are you serving to your viewers foster or kind new relationships, too?
It is nice when your podcast opens alternatives for you, however what alternatives do you assist your viewers discover and pursue?
“It is enjoyable to have enjoyable,” as The Cat within the Hat mentioned, however is your viewers having enjoyable, too?
Incomes revenue is unquestionably rewarding! However how are you serving to your viewers earn extra, spend much less, save extra, or be smarter with what they’ve?
And it may be thrilling to get new tangibles, however what tangible advantages are you serving to your viewers acquire, too?
Podcasting P.R.O.F.I.T. in a single phrase: why?
“Begin with Why” certainly!
Why are you podcasting?
Why ought to your viewers hold consuming your episodes?
It is all in what P.R.O.F.I.T. (reputation, relationships, alternatives, enjoyable, revenue, or tangibles) you pursue and provide!
Neighborhood nook:
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- 5-star overview “Why and How Your Podcast Wants Loudness Normalization” by Marshy76 from November 23, 2022 on Apple Podcasts in america: “A superb information on the significance of Lufs with vital hyperlinks to associated software program in aiding one to create a effectively tuned podcast, which I integrated into my newest “Mister Radio” podcast episode. Thanks for this glorious presentation! However, as I discussed in my unedited overview could not this even be accomplished just by listening and adjusting ranges as one is recording, like I used to do when working the board in radio? Now I’ve acquired to take a look at my varied DAWS to see if they’ve one thing to test my LUFS, apart from the cans on my ears! And I did discover a meter in Logic!” (I pasted that podcast overview with solely two clicks and a Cmd-V, because of Podgagement!)
- Due to Allen C. Paul, Jason Pickel, Wealthy Bennett, D.R., and Julio Fernandez for all the nice rankings on Goodpods (all found for me by Podgagement!)
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Disclosure
This put up could include hyperlinks to services or products with which I’ve an affiliate relationship. I could obtain compensation out of your actions by such hyperlinks. Nevertheless, I do not let that corrupt my perspective and I do not advocate solely associates.