The online hype machine would have you believe that podcasting can make you rich.
As long as you have a banging studio and a bunch of interviews lined up, you'll be making dough with your show in no time flat.
And that's a bunch of malarky.
I'll tell you why in just a sec.
But first, I've identified three main areas where people struggle with podcasting.
I call these the 3 pillars of podcasting.
We've already covered Pillar #1: Tech and Pillar #2: Topics.
Today we're diving head first into Pillar #3: Making Dough with your show.
People online have become obsessed with finding sponsors for their show.
To demonstrate what I mean let's look to some big authorities in the podcasting world.
First, I checked with John Lee Dumas from EOFire on what his average sponsor pays him.
He said they pay $18 per 1,000 downloads for a 15 second pre-roll and $25 per 1,000 for a 60 second mid-roll.
So far so good.
Next, lets check in with Rob Walch the V.P. of Podcaster relations at Libsyn (the largest podcast media hosting company.) He says a podcast episode that has been live for at least 30 days averages 141 downloads.
Do the math and you'll see if you have a sponsor for both spots you would make a whopping $6.06 per show.
Barely enough to buy lunch.
That's why I always tell my clients the best sponsor for your show is YOU.
Most podcasters don't know this, that's why they're broke.
Here's how you do it.
First, you create an opt-in bribe to get listeners back to your site so they can become email subscribers.
Once they're on your list you make them offers for your products and services.
Then you make sales and put some dough in the bank.
This is exactly what we did when we launched the Making Agents Rich show in 2013 and within the first year we raked in $101,062 in sales with just one product.
I share all the details on how this works and how you can do it too inside my Podcasting 101 training.
CLICK HERE to grab your copy today.