4 Reasons You Won't Make Money with a Podcast

WHAT’S THIS EPISODE ABOUT?

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Let’s Get Real For a Sec

“I’m definitely a glass-half-full kinda girl…”

We’ve been talking about making money with your podcast a lot lately. But today, I’m flipping the switch a little bit.

We’re going to break down the 4 reasons why you actually won’t make money with your podcast. Don’t worry, these are like the ninja mind tricks where we’ll eventually bring it back to how you can make money. But first…let’s talk about what you might be doing wrong.

1. You’re Chasing Downloads

“This means you are just focused on numbers…and if you’re not hitting your goals, you’re just gonna quit!”

If the success of your podcast is based around how many downloads you have, you’ll never find success. By the way, just for reference…

“It took me close to 5 months to get the first 1,000 downloads for my podcast!”

I’ve had so many members of our podcast community hit this goal in their first month. Even someone who hit 10,000+ downloads in their first 2 months podcasting! But they came with an existing audience. Me? I started at zero!

“I don’t want you to think that you are behind if you are starting at zero…”

Because I started at zero too. And you can absolutely build an audience from scratch as well. But you have to make it about more than just the numbers. Downloads don’t pay the bills. Downloads don’t help you reach all of your financial goals.

And at the end of the day, if you’re doing it for the downloads, you’re doing it for the wrong reasons. Go back to your WHY. Why are you creating this podcast in the first place?

Keep that in mind as you build your audience.

Because the people that can come on board with your podcast and your WHY are the people who will want to spend money with you too.

Downloads don’t convert to dollars.

**2. Talking to the Wrong Audience**

This was one of my biggest issues when I first started podcasting. I wasn’t talking to the right ideal listener. (Just a refresher, your ideal listener is that one person you’re imagining as you create your podcast.) I was trying to talk to anybody that would listen.

I found this out because my audience started asking me to create content that I wasn’t excited about. I started feeling deflated each week and wasn’t in love with the podcast content anymore.

So how in the world can you expect to make money with a podcast if you aren’t excited about the content or your audience?

It wasn’t until I started to talk to people who wanted to learn about podcasting that my spark was re-ignited about my content. And there’s proof in the numbers. This graph shows the stats of what happened when I finally found my ideal listener.

Make Money with a Podcast

Notice how everything changed once I made the shift from an audience that was too general to talking specifically to podcasters.

How is this related to being able to make money with a podcast?

Well, once I found my audience…I knew what they needed. I was able to start creating free resources for my audience that would eventually lead to my paid programs and services. So your audience has everything to do with being able to make money with a podcast!

Path to [Podcast] Success

It’ll only take 2-minutes to find yours…

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A Message from Amy

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3. Asking Before You Serve

There was a book I read once that said something along the lines of, “As creators, leaders, and business owners we need to give 90% of the time and only sell 10% of the time.”

Which on the surface sounds like a crazy statement, right? Only sell to my audience 10% of the time? Really? How will I ever make any money doing that?

If you’re a self-centered billboard that’s constantly talking about yourself, then people will see through that. Very quickly.

Show Up & Serve Your People First…

The money will follow.

Add value to your audience.
Deliver content that can help them.
Establish yourself as their go-to expert…

So when you do actually have something to sell to them, they’re ready to jump on board!

4. NOT Being Consistent

This is probably my biggest soapbox moment that I come back to over and over again. When you are not consistent with you podcast, a lot of things fall apart.

But if you are trying to make money with a podcast and you aren’t being consistent…I hate to break it to you but…

It ain’t gonna happen!

“If you’re not being consistent, why would I trust you?”

That’s what your audience is going to think about you if you aren’t showing up on a consistent basis. If you don’t show up, people can’t get to really know you and your content. And as consumers, we like to spend our hard-earned money with people that we trust.

People that show up consistently.
People that continue to deliver value.
People that serve before they ask me to buy something from them.

So, Let’s Reverse Things Here…

Here are the 4 reasons you WILL make money with a podcast:

You’re consistent every week.
You’re serving before you ask for anything.
You’re talking to the right audience.
You aren’t chasing downloads.

“I want you to be authentic. I want you to show up and serve your audience and just make a difference.”

How to Use This Resource

If you don’t already know this about Amy, she creates THE BEST guides, checklist, and free resources for her audience! Her guides have helped me plan content, create a DIY photoshoot at home, master a proper launch runway, and develop skills for understanding my audience better.

Inside The Ultimate Course Creation StarterKit guide, you’ll find important information to help you make the following 3 key decisions:

Course Topic
Course Name
What You’ll STOP Doing Once Your Course Takes Off!

You’ll also find many details on how to brainstorm about your course in ways you may have never thought of. And, my personal favorite, you get to see firsthand what it looks like to create a freebie for your audience!

Win-Win-Win!

And, here’s a little something extra special! Amy recorded a quick video to tell you all about the Starter Kit!

Remember, when it comes to podcast monetization…

You don’t have to wait until you have thousands of listeners and millions of downloads. I’d only had my podcast up and running for four months before I decided to create my course.

And I didn’t have Amy’s amazing resource back then. (Man, to think where my business would be today if I had!)

So, go download this PDF guide and get started creating your digital course today!

RECAP: 4 Reasons You WON’T Make Money with a Podcast

Reason 1: Chasing Downloads
Reason 2: Talking to the Wrong Audience
Reason 3: Asking Before You Serve
Reason 4: Not Being Consistent
Let’s Reverse Things
Amy’s New Resource

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WHAT’S THIS EPISODE ABOUT?

Let’s Get Real For a Sec

“I’m definitely a glass-half-full kinda girl…”