Monetization shouldn’t be the one revenue you will get from podcasting! And you should not be the one one to revenue, both! Nonetheless, right here is why I believe it’s best to put P.R.O.F.I.T. first in each side of your podcast.
The order of podcasting cornerstones
Earlier than we deal with podcasting P.R.O.F.I.T., I wish 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 facet to cut 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 fair larger 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 persist with me and do not click on away since you suppose this does not apply to you! Earlier than I can clarify why P.R.O.F.I.T. ought to be first, I need you to know what it’s, and why I preserve 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™. Because of that typo, I wished 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 group, 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 a very good time, with or with out laughter
- Revenue—sure, incomes cash!
- Tangibles—getting stuff you get to make use of or preserve, which is very worthwhile after they’re related to your podcast matter!
Whereas most individuals suppose “revenue” means “cash,” I problem you to alter your pondering and take a look at the a lot larger methods you possibly can revenue out of your podcast—particularly for those who do not even need to monetize your podcast.
The opposite paradigm shift is that your podcast shouldn’t solely give you P.R.O.F.I.T., however additionally provide it to your viewers! I will clarify that extra in a second.
P.R.O.F.I.T. is for all podcasters, not solely professionals
Lest you suppose P.R.O.F.I.T. is just for individuals who podcast for enterprise functions or to strive incomes a residing, cash is barely one a part of the Podcast P.R.O.F.I.T. Paradigm: the I for earnings. The opposite methods might complement earnings, however there’s nothing unsuitable 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 snigger and assist others snigger, too! Alongside the best way, we additionally fashioned relationships, got enjoyable tangibles from our viewers, and we even made just a little cash on the facet.
And for those who 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. Contemplate the cornerstones on this means:
- 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
Start with Why: How Great Leaders Inspire Everyone to Take Action. And “why” is one other means to think about P.R.O.F.I.T. with these two questions:
- Why are you doing this podcast?
- Why ought to anybody hear or watch?
If 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 already know your “why” and your content material, then you possibly can determine on one of the best ways to current it. Then, one of the best ways to supply that. You then’ll have issues and strategies to market it.
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 find out how to produce it, and—frankly—you would not provide a lot worth price selling.
This is a sequence of questions that follows the Podcast P.R.O.F.I.T. Paradigm that will help you podcast one of the best ways:
- Why do you wish to podcast? What worth will your podcast give your viewers?
- What content material finest 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 supply this that leads you and your viewers in the fitting path?
- Whom must you promote your podcast to and what are the very best methods to achieve them?
Keep in mind P.R.O.F.I.T. to your viewers
I’ve heard some folks say, “Podcast for your self. If you happen to’re having enjoyable, that is all that issues.” And I’ve additionally heard different folks say, “You are podcasting to your viewers, so deal with their wants first.”
Whereas these might sound opposite, they’re truly complementary and easily completely 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 deal with what worth they provide their viewers. As an alternative, they usually fixate on the worth they need from their viewers, or on how they’ll primarily 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 wonderful in case your podcast makes you standard, however how are you serving to your viewers to be standard, too?
It is nice if you foster or type new relationships due to your podcast, however how are you serving to your viewers foster or type 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 earnings is certainly 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 achieve, 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 preserve consuming your episodes?
It is all in what P.R.O.F.I.T. (recognition, relationships, alternatives, enjoyable, earnings, or tangibles) you pursue and provide!
Neighborhood nook:
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- 5-star assessment “Why and How Your Podcast Wants Loudness Normalization” by Marshy76 from November 23, 2022 on Apple Podcasts in the USA: “A wonderful information on the significance of Lufs with vital hyperlinks to associated software program in aiding one to create a nicely tuned podcast, which I integrated into my newest “Mister Radio” podcast episode. Thanks for this wonderful presentation! However, as I discussed in my unedited assessment 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 received to take a look at my varied DAWS to see if they’ve one thing to verify my LUFS, in addition to the cans on my ears! And I did discover a meter in Logic!” (I pasted that podcast review with only two clicks and a Cmd-V, thanks to Podgagement!)
- Due to Allen C. Paul, Jason Pickel, Wealthy Bennett, D.R., and Julio Fernandez for all the good scores on Goodpods (all found for me by Podgagement!)
- Thanks for extra streaming sats from Dave Jackson, Allen C. Paul, and Dwev! I consider that totals to 1,716§, which is at present price about $1.15.
If The Audacity to Podcast provides worth to you, I’d be so grateful for those who put that in a quantity to offer again, both via a one-time present or streaming sats again. You are able to do each with a contemporary podcast app like you will get from Podcasting2.org/apps!
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Disclosure
This publish could comprise hyperlinks to services or products with which I’ve an affiliate relationship. I could obtain compensation out of your actions via such hyperlinks. Nevertheless, I do not let that corrupt my perspective and I do not advocate solely associates.
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