011 - The Most Frequently Asked Question - How Can I Monetize This Podcast?
If you ever wondered why I shut down my Podcast Answer Man business and rebranded myself as the Mindset Answer Man, this episode will give greater insight into my decision than I've shared previously.
Recently, I hosted an "Ask Me Anything" session on the topic of "The Business of Coaching."
Kate Nankivell let me know that she would be participating live and that she planned to ask the following question:
"I’ve just started a new podcast called The Shape of Kate. I’m at the beginning of my much needed weight loss and regain my fitness and health journey and I want to share this journey and so much more through this podcast. Now this represents a departure from my current business so I’m thinking about my monetization strategies.
My clear intention with this podcast is to be an inspiration through sharing my journey but not a weight loss coach or fitness expert. I’ll interview those experts as I go. They rightly claim their expertise. My monetization ideas at this early stage is to bring on advertisers who pay for results. Eg when people who listen and click through to their offer and/or use my coupon code they pay me an agreed affiliate fee."
When it came time to have my conversation with Kate, I had already created an outline of insights that would have helped her optimize the effectiveness of her affiliate income streams, plus I had created a list of several other income streams that most people have not considered.
Yet, within a few moments into our conversation, I closed the browser that had all the pre-outlined insights that I had prepared. It had become clear to me that there was a much more powerful and important conversation to be had.
Have a listen to this episode to see where our conversation went. After the conversation, I give a commentary on the overall experience. I know that you'll gain a lot of value from this conversation.
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