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Podcast Patent Victory?
The Electronic Frontier Foundation (EFF), reported that they had successfully convinced the U.S. Patent and Trademark Office to invalidate key claims in the so-called “podcasting patent.” You can read more about this on their site by clicking here.
Picking Up Where Serial Left Off
I recently subscribed to the Undisclosed-Podcast.
From their website: “The Undisclosed Podcast is a listening experience that reframes, enhances or otherwise shifts everything you've come to know about the State of Maryland's case against Adnan Syed, especially as you've come to know it through listening to Serial. In order to do that, we intend to revisit the case from the beginning, looking at all the available evidence. Not only will we look at the evidence that was presented in Serial, but we will also provide new evidence that we've uncovered in our investigation. We have combed through police and court records that the Serial team did not possess during the podcast, and done much, much more to get to the truth. Accordingly, we aspire to present the best possible version of the events as we believe those events to be. We will also present theories that we believe the evidence best construes. Perhaps most importantly, we will provide you with all of our evidence as part of that process.”
More mainstream media attention given to podcasting.
Ijeoma lands her first paid advertiser. (Contract Example Mentioned)
Why I purchased the domain FitnessAnswerMan.com
Other Topics In This Episode:
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How 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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Show 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 https://PodcastAnswerMan.com/equipment.
– Video Training Tutorial Sales made at https://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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Hey folks. Here is another episode that I pre-recorded before leaving for my two week family vacation. In this episode, I share twenty two tips that will help you improve your podcast interviews. These tips start 29 minutes into the episode.
I use the opening of the show to I discuss a few details related to a new sponsorship that I have worked out for two shows on my podcast network.
22 Tips To Improve Your Podcast Interviews (Starts at exactly 29 minutes into the episode)
- When inviting a guest for an interview, be sure to clearly communicate the name of your show, the website address of your show, and what your show is about.
- Explain why you would like to have this guest on your show.
- Clearly communicate how long you are requesting for the interview to take place.
- Be prepared by offering at least two to three time slots for the guest to choose from. Be flexible if those are not a good fit for their schedule.
- Once you confirm a date and time with your guest, be certain to communicate how the interview will be conducted. Provide applicable information such as phone number or Skype contact ID, etc, and clearly communicate who is going to initiate the call.
- If the interview is scheduled more than a week in advance, be sure to send a follow up reminder one week prior to the scheduled interview.
- Regardless of when the interview is scheduled, send a follow up reminder the day before the interview. Be sure to communicate, again, how the interview will be conducted, the contact information, and who will be initiating the call.
- It should go without saying, but BE SURE TO INCLUDE TIME AND TIME ZONE information when sending requests and any confirmations or follow ups related to the interview.
- Consider sending an outline of questions that you will cover in advance of the interview.
- If something comes up on your schedule that would conflict with your scheduled interview, DO NOT PUT THIS OFF, immediately contact your guest and let them know. Make sure to confirm that they received your message about the conflict.
- Always MARK OFF AT LEAST 30 MINUTES BEFORE YOUR SCHEDULED INTERVIEW to prepare for the call. Make sure that you have no obligations that would keep you from being on time with your call.
- Call your guest ON TIME! Seriously, be very respectful of their time.
- Do not go over your time scheduled for the interview.
- Follow up with a thank you note. This can be done via email, but it has more impact when you send a card (or gift) by mail.
- Be prepared to give an introduction of your guest rather than asking them to introduce themselves.
- When asking a question, don't continue speaking and answering the question for them by continuing to answer the question for them.
- Don't interrupt your guest when they are speaking.
- Don't give verbal agreements to every statement that they make.
- Avoid questions that allow for simple one word answers.
- Have an idea of the main points you desire to have come out within the interview, ask questions that get you to reach those goals and allow the conversation to flow.
- Listen to your guest while they are speaking.
- Make sure to learn how to pronounce your guests name correctly.