366 How Much Should I Charge My Sponsor?

cashsnHow Much Should I Charge My Sponsor?
Some recently posted this question… “I've been approached by an ad agency about advertising in my podcast. They have a client that's very targeted for my audience. So they're asking me for rate information. I have no idea what to quote them, as I've yet to have a sponsor for my show. Any idea what's fair based on downloads or other metrics? Thanks!”

I've devoted this episode to providing my thoughts on this topic. I hope you enjoy.

 
 
Video Recording of this episode
The following video is an UNEDITED version of the Behind The Scenes Recording of this episode of Podcast Answer Man. Join me for a future live broadcast of Podcast Answer Man. Click here for details.

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344 Why I’m Shutting Down The Podcast Mastermind, Even Though It Generated Over $57,000 In 2013

PodcastMastermind-300In this episode of Podcast Answer Man, I share one of the top five most difficult decisions that I've had to make in my business. February 2014 marks the second anniversary of The Podcast Mastermind. In spite of the fact that it was responsible for generating over $57,000 in profit for my business in 2013, alone, I made the decision to completely shut it down. The difficulty of this decision has nothing to do with the loss of the $57K and has everything to do with the amazing benefits that have come as a result of being a part of seeing massive life change in the lives of the members that it served.

This is now my favorite episode of Podcast Answer Man to date. In it, you will learn why I had to shut down The Podcast Mastermind. You'll also get a valuable insight into the type of commitment that I have to my business and my desire to always under promise and over deliver on every commitment that I make to those I work with in any way.

I hope that you find this episode an entertaining source of education, encouragement and inspiration. If so, I would be honored if you would consider asking others to have a listen in your social media channels. Also, I would love to hear your feedback related to this episode in the comments below.

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329 Seven Ways To Market Affiliate Products

sks7 Ways To Market Affiliate Products
In this week's episode I am joined by my great friend, Mark Mason, from the Late Night Internet Marketing Podcast. In our conversation, we discuss seven things that podcasters can do to market affiliate products. (This Topic Starts at 00:21:36)

1. Do An Honest Review of a Product you use.
2. Do case studies and provide examples and data.
3. Interview people from the company.
4. Give away a free products in exchange for engagement.
5. Create a special bonus products
6. Create an fantastic blog post using all of the above.
7. Promote to your list.

 
I'm doing a daily podcast!
In this episode, I share why I am actually doing something that I attempt to talk most people out of. I encourage everyone to check out episode 536 of Pursuing A Balanced Life for full details about why I am currenlty producing that podcast on a daily basis.

Pursuing A Balanced Life PodcastPursuing a Balance LifeClick Here To Listen!
Pursuing A Balanced Life was originally launched in March of 2006. When it started, I (Cliff Ravenscraft), worked as an independent insurance agent, in a family run insurance agency, and had only been podcasting as a hobby for a few short months. In January 2008, I left my career in insurance, after 11 years, to pursue podcasting as my full-time career.

This podcast has served as an audio journal that has chronicled everything that led to my decision to leave my career in insurance and to start my own online business. This podcast contains the most exhaustive account of all the things that I have learned about building my own business and how I've managed to balance all the demands that come along with being an entrepreneur.

I invite you to subscribe and join me as I continue to share all the business and success principles that I learn along the way as well as my pursuit of finding a balance between my focus on my career, my desire to be a great husband and father, my desire to become more physically fit and healthy, and my desire to live a life of faith.

Subscribe To Pursuing A Balanced Life Podcast:
iTunes RSS Feed

 
 
Podcast Awards Now Accepting Nominations
I am delighted to announce that I have, once again, made the decision to become a corporate sponsor of The Podcast Awards. The nomination process is now open for the 9th Annual Podcast Awards. You can submit your nominations through October 15th at http://PodcastAwards.com.

 
 
Personal Plug of The Week
This week's personal plug of the week goes out to Jessy K. Piskai, from the When In Korea podcast. Jessy created this podcast as a resource for military wives who are going to be stationed, with their spouse, in South Korea.

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325 Seven Things Podcasters Need To Know About Affiliate Marketing

sksLet's Talk Affiiliate Marketing
In this week's episode I am joined by my great friend, Mark Mason, from the Late Night Internet Marketing Podcast. A majority of this week's show is focused on things that podcasters should know when it comes to affiliate marketing. (This Topic Starts at 00:12:34)

The seven things we cover in our discussion:
1. What is affiliate marketing?
2. Why is affiliate marketing great for podcasters?
3. What products should I promote?
4. There are products that match your niche.
5. You must disclose.
6. Beautify and simplify (redirect) your links.
7. Affiliate marketing is a math problem.

 
 
Personal Plug of The Week
This week's personal plug of the week goes out to Jeff Brown of the Read To Lead Podcast. Jeff believes that intentional and consistent reading is key to success in business and in life. Each episode features a conversation with a successful and inspiring nonfiction author. Authors discuss their latest book and their unique perspectives on Leadership, Personal Development, Business, Marketing, Career and Entrepreneurship. If you check out his show and like it, please be sure to tell him that you heard about him from The Podcast Answer Man.

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324 Podcasting As An Occupation? How Long Before My Podcast Will Start Generating Income? My Thoughts On This And More!

cashsnShow Me The Money! (Topic starts at 00:03:44)
There are times when I feel like Jerry Maguire in this scene from the movie (WARNING: Strong language in clip). Okay, so this is a bit of an exaggeration. The fact is that I have made it a point to not yet enter into a relationship where clients are expecting me to “show them the money.”

I've stopped counting the number of times that folks have come to me, expecting me to teach them how to turn their podcast into their full-time career or how to create a podcast that will begin providing them a significant income. The common theme among all these requests has been that these individuals see their podcast as “a product” or “a service” and that they can turn their podcast into a lucrative business.

One person sent me an email asking, “Does a well-done, interesting daily financial podcast have the potential to generate perhaps $3k per month of income within 12 to 24 months if I hammer it and work my butt off on it?”

Another person, who was thinking about signing up for my Podcasting A to Z course, asked “What the payback period is for the investment in your course?  On average, how long does it take for your students to earn their investment back?”

Yet another person wrote to tell me, “I've lost my job. So naturally, I want to figure out a way to make the podcast and my youtube channel more lucrative and make it my occupation.”

Please understand that I do believe that it is possible to generate income directly from your podcasting efforts. In fact, I did a lengthy blog post back in August 2011 where I shared some very personal details about how much income I was generating from my own podcasting efforts. You can read that post by clicking here.

I also gave a one hour presentation at BlogWorld LA 2011 (Now known as New Media Expo), titled “Proven Strategies For Generating Serious Income From Your Podcasting Efforts. I'll post it below.

As you can see, I do not shy away from the topic of monetization and I have no issues with folks generating income directly from their podcasts. However, in this episode, I share some pretty strong feelings on putting too much pressure on your podcast to directly generate income.

I do not believe that a podcast should be looked at as a business or a career. Are there exceptions to this? Yep! However, I have found it easier to succeed when you actually develop a genuine business where you offer products and/or services that provide value to your target audience. As people come to know, like and trust you, they can then make a decision to purchase your products and/or services, or the products and services of those you recommend.

I do directly generate a few thousand dollars a month from sponsorship of a few podcasts and from affiliate commissions that I earn from recommending products and services in my podcast. Only a very small percentage of my income, however, is generated in this way. I want to point out that I've been podcasting since 2005 and have produced more than 3,100 podcast episodes and have a following that is in the hundreds of thousands of people at this point in my journey. This is not something I built within 12 to 18 months.

Even today, I do not see any of my podcasts as my “business.” Instead, I have a business model that is made of of many different streams of income from many different products and services that I offer. Here are a few things that I do that generate income for my actual business.

– Coaching & Consulting, Including Podcasting A to Z.
– Facilitating The Podcast Mastermind which I founded in March 2012.
– Equipment sales made at http://PodcastAnswerMan.com/equipment.
– Video Training Tutorial Sales made at http://PodcastAnswerMan.com/products.
– A referral network where I earn commission on referring clients for podcast artwork, one-on-one consulting, etc.
– Public Speaking. I started out speaking for free. However, I am now paid well to speak at events.
– Joint venture projects where I partner with friends on one off projects.
– Affiliate sales – Where I recommend products and services that I trust and earn a commission.
– Webinars – High value online training events that meet the needs of my community.
– And very soon, I plan to start doing my own live events and conferences.

I am extremely blessed to have a business that does provide me with a rather nice six figure income each year. There is no question that my podcast is responsible for generating a majority of the sales in my business. However, it's not the the only thing that generates sales. I do a significant amount of marketing and relationship building through social networks, face to face networking at conferences, speaking a conferences, etc.

Also, I want to point out that I still work approximately 10 to 12 hours a day, a minimum of five days a week, this includes several hours each week spent studying on how to improve my sales and marketing efforts. If I am preparing to go out of town or just returning from a trip, you will often find me working 12 to 14 hours a day all seven days of the week. However, When you love what you do, it's really not that bad to work from 5am to 5pm (or 8pm) every day.

So if you ask me to “show you the money” in podcasting, I'll simply point you back to this post and ask you to listen to this episode to hear my thoughts on this subject.

 
 
Other Topics Covered In This Episode
– New Media Expo Promo (00:36:25)
– Does replacing a file on Libsyn create a duplicate episode in iTunes? (00:41:13)
– How can I keep track of my stats if I use a single Libsyn account for more than one show? (00:49:08)
– What software do you recommend for recording Skype Calls? (00:54:09)

 
 
Links mentioned In This Episode
Download The New Media Expo Promo
Audio Branding from Music Radio Creative
Check out the Veronica Mars Fan Podcast
Episode 241 about more than one podcast with Libsyn
Pamela For Recording Skype on Windows
Call Record For Recording Skype on a Mac

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