How to build a profitable podcast.
Let's welcome our guest writer Ian Loew!
There are well over 850k podcasts in today's rapidly-growing self-growth landscape. It’s, therefore, becoming harder and harder to stand out in the podcasting world. Yet, most people want to venture into that space due to the obvious financial benefits and other perks.
GoBankingRates say that podcasts with 1000 listens can expect to earn $745 a month. The earnings go even higher as the number of podcast listeners/downloads increases. So, how exactly can you grow your podcast’s reach?
One easy way to do that is through podcast collaborations with other content creators. Partnering with other podcasters allows you to tap into their audiences and pull some listeners to your podcast.
This review will show you how to utilize podcast collaborations as a growth strategy for your podcast. So let’s jump right in.
Content creators and podcasters are both creative workers in their own right. While all podcasters are content creators, not all content creators are podcasters.
The term "content creator" has evolved to primarily be associated with celebrities on the internet in our current digital landscape. Famous examples are Dr. Mike, Rhett, Link, and even Felix Kjellberg have appeared in various podcasts.
Content creators may include social media influencers, YouTubers, TikTok creators, etc.
There are many ways you can collaborate with a content creator. Here are some examples of partnerships you can do with a content creator.
Depending on the disparity in audience reach between you two, one of you may need to compensate the other. That could be done through cash, promotions, free items, social benefits, etc.
Successful collaborations will see your podcast grow over time. Also, word-of-mouth spreads fast through the social media community and market. So make the most use of content creators' social media circles.
The best part is that you won't be doing something radically different from what you're used to. You'd still be doing podcast interviews. You'd still be speaking what's on your mind—the difference is that these efforts generate growth for your podcast.
Cross-promotion is another effective technique to grow your podcast. And it’s straightforward. You get people from other podcasts to give you a “shout-out” in one or more of their episodes. Besides that, podcasters cross-promote podcasts on social media platforms.
For example, you could approach a popular podcast and have them post something about your podcast on their social media accounts. For instance, the Crime Junkie podcast cross-promoted another podcast called The Deck podcast on Instagram.
Here are some tips to keep in mind when using this form of podcast collaboration to grow your reach:
The podcast community is pretty good at helping their own. A good personalized outreach email can help you land a few cross-promotion opportunities. And while some podcasters may require monetary compensation, others will be okay with exchanging the favor. In other words, they’ll want you to pitch their podcast to your audience in return. Either way, cross-promotion is an excellent way to grow your reach.
Let’s be honest; most of us have looked up certain experts after hearing them on a certain podcast. I know I have. Multiple times, in fact. That’s the power of guest appearances.
When an expert invited to a podcast episode shares tons of quality insights, the listeners are likely to look up the guest and their work. For example, they may check out their books, podcasts, company blogs, case studies, social media, etc.
Therefore, making a guest appearance on other people’s podcasts is an effective way to drive traffic to your podcast. But of course, you must leave a great impression. That means sharing your expertise extensively.
If you're lucky, podcast talk shows will reach out to you, asking if you want to come on board for an interview. Otherwise, you’ll need to outreach to different podcasts requesting to be a guest.
This section will discuss how you can conduct outreach and request to be a guest on other podcasts.
Once you've grown your podcast large enough, you might be invited to guest on smaller podcasts. You'd want to attend these since you'd likely be reaching more people you haven't tapped, retargeting an audience who's only heard about you once.
Your guest appearances may also be a solid source of revenue and exposure if you’ve agreed on cash compensation with the podcast host.
Depending on the topic you're tackling, you may need to invite an expert around the required industry to provide authority insights on your show.
Inviting industry experts strengthens the inputs and ideas you have on your podcast, making them actionable. You'll uphold your podcast to an excellent quality standard, resulting in shareable content that podcasters and other people may share with others. This leads to a bigger reach.
Shown above is an internet sensation, Dr. Mikhail Varshavski, a.k.a. “Dr. Mike” (right), appearing for a podcast interview with Jay Ruderman (left). The interview tackles Mike’s journey to social media stardom as his platform for social change.
Another benefit to inviting guests to your show is the possibility of a cross-promotion. When the guest you've invited turns out to have their blog, YouTube account, TikTok, or podcast, they may announce their appearance on your show, thereby extending your reach to their audiences.
Your guest will also benefit from exposure to your audience. That creates a simple win-win situation, and that’s why most experts are open to making guest appearances on podcasts.
Another medium to expand your podcast's reach is through guest blog articles. Remember, the nature of podcast podcatchers is to learn about a solution to their problem. Therefore, most of them usually use search engines to look for solutions. Writing guest content can help you acquire those potential podcatchers and direct them to your podcast.
But before writing guest content, you must first know where to direct the traffic. You’ll need a website for your podcast. If your podcast doesn’t have a website yet, use website builder tools such as Wix and Systeme.io to build one.
Approach relevant content websites and propose to write for them for free. In exchange, insert a do-follow link directing the readers to your podcast's website. The content website would often allow that link. It's well-deserved for well-written guest content.
Here is an article co-created by John Jantsch that he guest wrote for Social Media Examiner – a digital marketing content website.
In Jantsch’s author bio, he included a mention and a link to his podcast, “Duct Tape Marketing podcast.”
That’s how to use guest content to send traffic to your high-quality podcast. Besides sending traffic to your podcast’s homepage, you can also direct traffic to specific episodes. You just need to use an appropriate anchor text and add it to the article’s body.
It may be challenging to stand out with hundreds of thousands of podcasts active as of 2021. Podcast collaborations will help get your podcast center stage with maximum reach and podcast growth. This guide discussed how you could grow your podcast through social media content creators, other relevant podcasts, and search-engine-optimized blogs.
Partner with content creators. Their influence in their niches will drive a quality audience to your podcast. Cross-promote with other podcasters. This process will develop a mutually-beneficial podcast growth.
Feature guests on your podcast to create excellent podcasts with actionable insights. Similarly, you should be a guest on other podcasts to increase your reach. Write guest content too. Doing so will generate backlinks to your podcasts, increasing your listener base.
Follow this guide, and you'll acquire a massive reach despite the growing competition in the podcasting space.