How I Monetized My Podcast
If you’ve been listening to my Smart Real Estate Coach Podcast for a while now, you know that I like it when our guests take us behind the green curtain and share their story, their insights, and the decisions they made to get where they are today. Each episode becomes a virtual “masters class” to be as helpful as possible as you look to build and scale your business.
So I wanted to take you behind the green curtain into a decision I made a couple years ago and how that decision helped my business grow to a new level. And this strategy can help you do the same thing inside your business, too.
Why I decided to launch a podcast
The decision I made was to launch The Smart Real Estate Coach Podcast. Previous to hosting my own show, podcasting was a bit of a foreign concept to me. I knew what podcasting was but I didn’t know how the components worked or how having a podcast would deliver ROI.
In fact — I would have said there was no way for a podcast to fit into my business and there was no way I could take on another responsibility. The list of excuses went on and on.
But, my family and I are always looking for ways to add value to our community and for ways to be helpful by sharing our expertise, what mistakes you should avoid, and the other lessons we’ve learned in the buying and selling world in order to continually position ourselves as the experts.
So when I was guest on another expert’s podcast — at the end of the podcast he said, “You really should look at podcasting to help grow your business.”
I said, “Well, I appreciate that but I wouldn’t even know where to start in launching a podcast.” And then he connected me with the right team of experts who could do everything for me — and more importantly — they helped me get past some of the initial excuses like how to find the right guests for my show and how to make sure the podcast drove new revenue and wasn’t another marketing expense.
One of the greatest benefits to having my own show has been how my reputation for being an expert in this space has grown. And you being seen as “the expert” is critical to the success of your business, too.
Why Now’s the Time to Become the Expert
I say that because right now — owner financing — where you’re buying and selling on creative terms as an investor is a major growth opportunity. The percentage of deals that need terms, and the percentage of people who need and want terms, is skyrocketing. Why?
Well, let’s go back to the early 90s when just 5 to 7 percent of deals were being done with owner financing or lease purchasing — or what I would call creative terms. But in today’s market, the percentage of people looking for creative terms is in the high 70s because of banking, because of credit constraints, and all kinds of other factors.
How can you position yourself properly for the buyers, to the sellers, to other investors, and to private money? How can you position yourself to be the absolute best…the absolute expert?
There’s a whole bunch of ways, but being the host of your own podcast is one that fits perfectly into “Attraction Marketing.” With each episode you’re creating your own credibility.
Hosting my podcast has been a key strategy to helping me own my market — and it might even be the way you became familiar with me and why you’re reading this blog post.
So for now…I just want to get you thinking about this strategy because it’s powerful and those who take action are the ones who differentiate themselves and put themselves in the right position to lead their markets.
How a podcast could drive revenue for you, too
So let’s also talk a little bit about monetization — because I am often asked about it. Obviously, people are into measuring return on investment so how do we monetize this?
I got to tell you that when I started the podcast, monetizing the content wasn’t even a thought. I started the show to continue our growth, to build fans, to create attraction marketing, to be the authority, and to crush our competition.
But, I didn’t think about monetization until, my accountability partner, Stephen Woessner, who owns Predictive ROI…the company that produces my podcast…started talking to me about monetization opportunities.
So here’s what’s really cool. When I say monetization, I’m talking about sponsors, affiliates, partners, and even companies paying you to create your thought leadership content…all of which furthers the reach of your expertise. So you get paid to create your content.
So now you say, “Well, that’s great, Chris. But what about us? What about us as investors? How would we do it?”
Well, it’s no different. Think about this — and I’ll just give you some quick ideas to consider.
What about banks that want to be in front of your buyers and your sellers?
What about private lenders that want to be in front of your database?
What about home service companies that want to be in front of your buyers and sellers?
I could go on and on.
They want to be in front of all the people in your audience or maybe even your guest list. You become the conduit. You become the gatekeeper and the companies I mentioned may be interested in paying you to gain that access. And that is just one form of monetization — there are many others that my team and I are working on.
For example, we have companies that have sponsored our podcast, and because of that, we have people looking at sponsoring our YouTube channel. And because of that, we have people that want to sponsor our annual QLS Live event.
What if you had a yearly appreciation event? I’m just throwing some additional ideas your way so you can consider the possibilities.
What if you had a yearly appreciation event for your clients and it was all paid for by a sponsor — and maybe even a profit center for your business because of the sponsorships?
Or, if you had an affiliate agreement so every time that home service company sold something to one of your listeners, you got paid for it. Maybe it’s rug cleaning or a product sale like a vacuum cleaner. It doesn’t matter what it is, but every time they did it, you had an affiliate arrangement such that you got a little piece of that.
So the whole point is that your monetization opportunities are only limited by your creativity.
Once you get into it…this process is not vague or ambiguous. Instead, it can be very, very predictable. Plus, in addition to attracting all the business you’re going to attract, you’re also going to have other income streams supplement your overall business.
This could be a game changer for you
How would you feel if you could wake up every morning knowing that your phone is going to ring, that your email is going to fill up, and that new opportunities will fill your text messages?
That you’re going to have leads from buyers, sellers, no matter what you do in whatever niche you’re in. And by the way, you have these other bank accounts filling up because you have sponsorship money and affiliate money coming in.
It’s exciting to think about how the game could change for you, isn’t it? No doubt it’s substantial. So drop me a line here if you have any questions or concerns. I am happy to help.