There is a perception in the world that all podcasters belong to one of two camps; those who make most, if not all, of their income from their podcast, and those who make none, or very little, of their income from their podcast.
But that perception is nowhere near reality. It’s an incorrect assumption that causes needless strife and hand wringing amongst podcasters who think the only goal is to make most, if not all, of their income from podcasting. And because they are not yet making most, if not all, of their income from podcasting, then they must be doing it wrong.
That’s not the way it is.
In fact, for every successful podcaster I know who makes most, if not all, of their income directly from their podcast, I know a hundred more successful podcasters who see very little direct income from their podcast.
Yet each and every one of the successful podcasters I know credits their podcast as being instrumental to their ongoing success. Success measured by their very ample personal income.
The Tangible Benefits To Your Successful Podcast
Let's not forget what running a successful podcast brings to your podcast. The actual tangible benefits that are very real to you. And oftentimes, better and more lucrative than what’s possible from direct income from your show.
If you’re in business and your podcast touches on the aspects of your business, then your podcast is an amazing “calling card” for your business. It’s tangible proof that you do the thing you say you do, with plenty of evidence directly from your mouth to their ears. I reckon that if you polled successful business podcasters, most would list that as one of the tangible benefits they get from their podcast.
A well-produced podcast is significantly better than a one-sheet at communicating your goals.
A well-produced podcast can be better than a headshot at conveying your talents.
A well-produced podcast showcases that thing you do much better than a 6-minute explainer video.
And even though I’m an author, I think that a well-produced podcast is much better than a book at demonstrating your knowledge in a particular area.
Your well-produced podcast can be better than those other media formats because your well-produced podcast is a live, often updated, easily consumed media property that puts the spotlight where it belongs: on you.
And in most cases, you are the main source of your income.
One of the biggest powers of a well-produced podcast is the outsized legitimacy it provides. Savvy podcasters embrace this reality and use this outsized legitimacy to their full advantage. Best of all, it doesn’t take a huge audience to acquire that sense of legitimacy. Simply having an established, respected, well-produced podcast is all that’s required.
That legitimacy opens up doors to you that other people who do not have an established, respected, and well-produced podcast may find difficult to get through. But with a podcast, you can probably get a call or a meeting with other leaders in your space. No, it’s not a guarantee. But your chances go up exponentially over someone also trying to get a meeting with nothing more than a handful of pretty papers.
In effect, your podcast gives you media-level credibility. I’m old enough to remember when that wasn’t the case for podcasters. But it’s absolutely the case today.
So continue to make your well-produced podcast. Keep pouring your energy, your effort, and perhaps some of your funds into your show to make it as good as you possibly can.
And keep thinking about the longer-term, tangible benefits you can derive from your well-produced podcast. Those are often much more valuable to you and to your total income possibilities than any small ad campaign, affiliate deal, or whatever bundled service offering you were pitched just this week.
Always thought-provoking - thanks for helping us stay focused on why we podcast.
You are very welcome, Suzy! This show runs on virtual coffees, streaming satoshis, your contributions, and of course our sponsors like Gumball.fm this month. If you’d like to give value back for the value you receive from my daily missives, please visit PodcastPontifications.com/value4value to contribute!
I shall be back tomorrow with yet another Podcast Pontifications.