Joe Fier: How to Make Money Podcasting (Without Even Charting On iTunes) – Business Lunch

Check out the Business Lunch Episode Page & Show Notes

Key Takeaways

  • Starting a podcast:
    • The most important step is to just get started
    • Find an area that you’re absolutely fascinated by and start talking about it
    • Don’t worry about competition, everyone has a unique voice
  • Growing your podcast:
    • Find out what social media platform your audience uses most and run ads on it
    • Create a group for your fans that you own (a Facebook group or an email list) and message them whenever a new episode of your podcast gets released
    • Engage your audience both through audio and visual mediums, not just one or the other
  • Monetizing your podcast:
    • If you’re going to use affiliate links to promote a product, make sure you’ve actually used it and genuinely have positive things to say
  • Recommended podcast services:
    • Libsyn for podcasting hosting
    • Podnews for research and updates about the podcasting industry
    • ClickMagick to track and optimize ads
    • Headliner app to add texts, animations, images and more to your podcast audio
    • Repurpose.io to share your podcast on different platforms
    • True Native Media to find an advertiser for your podcast
    • Chartable for analytics and attribution tools

Intro

About Joe Fier

  • Joe has been in the podcast space since 2010 but has been running Hustle & Flowchart for the last 3 years
    • He’s developing a course that teaches people how to get into the podcast space

Starting A Podcast

  • The most important step is to just get started
    • Use whatever mic, laptop, headphones and software you have at your disposal
  • Find an area that you’re absolutely fascinated by and start talking about it
    • Give value and share lessons you’re learning along the way – you don’t have to be an expert, just share what you’ve found to work and what doesn’t
      • Don’t worry about competition, everyone has a unique voice
  • Joe recommends people use Libsyn as a podcasting hosting service
    • And Podnews for research and updates about the podcasting industry

Growing Your Podcast

  • Figure out where your audience lives and who they are:
    • What platform does the majority of your audience use to get their podcasts?
    • How old is your audience?
  • Create a group for your fans that you own (a Facebook group or an email list) and message them whenever a new episode of your podcast gets released
  • Find out what social media platform your audience uses the most and run ads on it
    • Joe recommends using ClickMagick to track and optimize ads – it also allows you to customize ad links so you can send Andriod users to an Andriod type podcast platform while sending iOS users to Apple’s podcast app
      • ClickMagick also allows you to add affiliate links so you earn a commission from each purchase the user makes
    • Joe is a huge fan of running ads on Facebook and Google, he’s currently experimenting with ads on YouTube
  • When using Instagram to grow your brand, make sure to use popular hashtags and tags to gain new visitors
    • Even if your podcast is audio only, after you record a podcast – get out your phone and record a short video where you recap the podcast and share cool takeaways – if you or your guest is short on time, just take a photo and share the takeaways in the caption
  • The goal is to engage your audience both through audio and visual mediums, not just one or the other
    • Joe recommends using the Headliner app and Repurpose.io to promote your podcast on social media
      • Repurpose your podcast episodes into smaller bites (YouTube and IGTV videos) and even smaller bites (Twitter, Instagram, Twitter)

Monetizing Your Podcast

  • If you’re going to use affiliate links to promote a product, make sure you’ve actually used it and genuinely have positive things to say
    • Joe uses retargeting on his podcast website so even if a person listens to his podcast but isn’t interested in the affiliate product he’s promoting, the listener will be retargeted with ads for other affiliate items
      • A lot of Joe’s listeners were interested in learning about retargeting so he created a course where he teaches how to do it (course here)
  • Joe usually earns 50% per affiliate commission – the bigger you get the more you can negotiate the commission
    • But remember, you earn 100% commission on the products you sell yourself
  • Podcasters that sell ads usually earn $25-35 CPM (cost per thousand guaranteed downloads)
    • Another good metric is getting $1-1.50 per subscriber – check out True Native Media to find an advertiser match for your podcast
  • Since Apple’s podcast app doesn’t share data about listeners, Joe recommends using Chartable – it also helps if you send listeners to your website so you can gather more data on their listening habits and engagement
  • Joe creates a show notes page for each podcast that requires people to enter their email in order to gain access to the notes – the more emails you have, the more you can directly communicate with your audience (and sell them products)

For more on starting a podcast, check out these Podcast Notes

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