An Insider’s View On Profiting From Podcasts This Year

Thanks for reading The Marketing Minute, a weekly series where we share the behind-the-scenes stories of impactful growth strategies that we’ve used to get more leads or improve the sales process of our clients at LinkedSelling.

Want to stay in the know?

Subscribe to this series using the button above and let us know what you want to hear about next week using #MarketingMinute in the comments below. Let’s get started…

This week’s Marketing Minute is a treat! 

If you ever wanted to start a podcast, or maybe if you wanted to but feel the time has passed because it’s already too saturated, think again! We interviewed Steve Olsher, founder of Podcast Magazine, about three things:

1. Where he sees podcasting going - the future you need to be aware of, especially if you’re thinking about adding a podcast to your marketing mix...
2. How it can benefit your company and position you in your industry as an authority, creating new opportunities for business...
3. And where’s the best place to start.

I thought I knew all about podcasting because of my connections in the industry, but he certainly opened my eyes to the potential. My biggest takeaway from this: podcasting is still in its infancy. In other words, it’s still a good time to start a podcast. 

Interested in learning more about podcasts? Steve is giving away free lifetime subscriptions to Podcast Magazine for all #marketingminute subscribers for this week only to celebrate its launch. You can lock in your lifetime subscription here! 

I also loved what Steve said about creating your own podcast:

“In today’s divisive times, it is easier than ever to be a critic… and hard to be a creator.”

Alright, let’s get to the interview:

Josh: First things first, can you talk about “Podcast Magazine”? Where did this idea come from and what should your readers expect in each issue?

Steve: Truth be told, when I was initially struck with the idea of creating a magazine that takes readers “Beyond The Microphone” to cover podcasts, podcast culture, and the podcasters fans can’t get enough of, I was stunned (and excited) to find that no such publication existed. 

After all, “everyone” has a podcast and more people listen to podcasts on a monthly basis than every other medium combined, right? While, of course, the answer to that is “no,” it certainly seems to be the general perception.

There is no doubt that podcasts are “having a moment” and seem to be everywhere.  

When Will Ferrell launched season two of his podcast, The Ron Burgundy Show, he was able to land appearances on all three major late-night television shows (Jimmy Kimmel, Jimmy Fallon, and Steven Colbert) on, wait for it… the SAME night. 

When Elon Musk appeared on The Joe Rogan Experience and smoked a joint, people all over the world debated his actions… and Tesla’s stock plummeted.  

And as Glynn Washington (January’s cover feature and the host of Snap Judgment, Heaven’s Gate, and Spooked!) aptly pointed out, “Today, more and more people self-identify based on the podcasts they listen to.” 

While there’s no denying that the medium is receiving its fair share of attention (and, rightly so), podcasting is still very much in its infancy. The real growth of the medium is yet to come. 

While the data is compelling, podcasting is much more than numbers and graphs. Podcasters and their fans forge deep-seated, fiery connections—connections that translate to sold-out live events, a loyal, borderline-fanatic following, and the creation of highly-engaged communities all seldom achieved through other media outlets. 

When discussions arise about the medium, there seems to be little middle ground. Podcasting either puts fire in your soul… or it doesn’t. 

My hunch is that you are among the former—and you’re reading this because of that fire (and thank you for that).

Podcasting puts fire in our souls, too, which is why we are committed to creating a formidable publication that is both scalable and sustainable while serving and honoring the industry in the manner it deserves. Accomplishing this objective requires a collaborative, focused effort.  

What you won’t find, however, is clarity as to WHY we're investing significant time, energy, and resources into launching Podcast Magazine. Since our inaugural issue is coming out, I’d like to share our three main reasons for doing so now: 

1) We are passionate about podcasting and want to do our part to support its growth. 

Podcasting has, we believe, reached an important tipping point for either attaining critical mass or returning to its roots as a compelling tool for hobbyists. We are unabashedly committed to doing whatever we can to ensure that podcasting’s current status reflects its embryonic stages rather than the maturation of the medium. 

2) We strive to serve podcast FANS, taking them ‘Beyond The Microphone’ and into the lives of today’s leading podcasters and the shows they love. 

While there are several publications that do a wonderful job of covering podcasters and the industry at large, their focus is not on serving listeners. Our goal is to create the preeminent lifestyle publication that veraciously serves podcast fans while exploring the ever-evolving world of its culture. 

3)  And perhaps most importantly, we are committed to leveling the playing field for ALL podcasters. 

As a podcaster since 2009 when we launched our first episode of Reinvention Radio, and continuing with Beyond 8 Figures (and, soon, the Podcast Magazine Podcast, of course!), I have witnessed firsthand the challenges of being a “mere mortal” without a huge platform who is unable to break onto the charts simply by “bouncing” existing fans and followers toward one’s new podcast.  

Breaking into the ascending spiral of Apple’s, Spotify’s, or Stitcher’s (to name a few) charts is incredibly difficult. Podcasts that are popular rank in the charts; new listeners find these shows because they’re visible and subsequently download, rate, review, and subscribe to them. As a result, these podcasts continue their popularity ascent, making it nearly impossible for other shows to be discovered. 

To aid in addressing this issue, each month, the 19 Podcast Magazine Category Directors highlight an “Under The Radar” show that podcast fans likely haven’t heard of, but should be listening to; select a personal favorite for “Off The Charts”, which showcases Podcast Magazine’s Top Podcast Picks of the Month, and…

Each month we release the industry’s only fan-driven chart:

Podcast Magazine’s Hot 50!

Each month, we tally fan-submitted votes and a new Podcast Magazine Hot 50 chart is released. Do some of the more popular shows appear on our charts? For sure.

However, there are also a significant number of podcasts that aren’t among the current “usual suspects” in each month’s Hot 50. We love introducing you to them.  

Interested in starting and monetizing your own podcast? Steve is giving away free lifetime subscriptions to Podcast Magazine for all #marketingminute subscribers for this week only to celebrate its launch. You can lock in your lifetime subscription here!  

Josh: Want to tease any big-name features or guests that are coming up in future issues? I've seen your Facebook posts and it seems like you have serious podcast players involved. 

Steve: Coming up, we’ve got Katie Couric (March), Jordan Belfort (April), Dave Ramsey, Jocko Willink, Adam Carolla, John Lee Dumas, and Jillian Michaels as cover features in 2020. 

Josh: We all know that it's easier said than done to have a successful podcast. What advice would you give someone who really wants to start a podcast to give them the best chance at success? 

Steve: With 5,000 new podcasts being launched every week, the fastest path to success is likely achieved by traversing the narrowest road. Fact is, you’re not going to be able to compete with big-name players such as Oprah and Hillary Clinton who have massive platforms and are able to drive listeners to their shows from other channels.

Therefore, you need to create a podcast that speaks to a specific audience and solves a specific problem. A good example of this is “The Profitable Photographer.” 100% of the people who download this show are interested in photography and, likely, learning how to create a profitable photography business. Needless to say, these listeners are ideal candidates for relevant products, programs and services.  

Josh: Ok, let's say that someone reads that and is inspired to get started (good for you btw!), can you share your top strategy or strategies for growing your audience?

Steve: In a word, consistency. Only 43% of available podcasts release new episodes. Even if it’s just once per week, release new shows like clockwork. 

In two words, search terms. Think about what your most likely listeners are typing into the search box to find new shows. In an ideal world, the name of the show is either that exact search term or, at the very least, contains that term in the name. Further, load the description with relevant keywords as well as the names of high-profile people in that particular industry.   

Josh: While creating a podcast is fun, I'm sure most people do it to monetize it, to add additional revenue for their business and personal income. Can you share some insight into the best ways to do this? 

Steve: In our training, Profiting From Podcasts, we focus on the ‘Business of Podcasting’ rather than looking at podcasting as a business. There is a monumental difference between the two. 

Success starts with the offer. Know where you want new listeners to end up on your Profit Path and work backwards from that point. Virtually everything you do should then be focused on leading the listener towards the inevitable decision that you offer the right solution for their problem. 

Josh: What would you say is the single most important part of podcasting, for those interested? 

Steve: Anyone can use podcasting to spread their message.

Today, more than ever, there are people who are literally praying for you to show up in their lives. With conferences, networking events and get-togethers of all sizes being canceled, you still need to reach people with your mission and message… and business must go on. 

Even if you have ZERO interest in starting your own podcast, no worries. There are TENS OF THOUSANDS of shows looking for guests just like you to share their expertise and help their audiences. Podcasting empowers you to reach those who need you most. 

To do so, all you need is a Mouth, a Microphone (and, it doesn’t even have to be a fancy microphone - your phone will absolutely suffice) and a Message. With nothing more than The 3M’s you too can have a meaningful impact leveraging the power of the medium.   

Last Thoughts?

In today’s divisive times, it is easier than ever to be a critic… and hard to be a creator. 

Those who have the audacity to podcast are creators, and we will do everything we can to support them. Thank you for sharing our enthusiasm and accompanying us on this journey. 

For a free, lifetime subscription, please visit www.LinkedSelling.com/PodcastMag.

Thank you, Steve!

Your Turn

What to learn more? 

Whether you want to start a podcast or you want to be interviewed, head over to www.LinkedSelling.com/PodcastMag for a free lifetime subscription as a gift for being a part of the #MarketingMinute Community! 

Want to contribute? 

Answer this focus question in the comments: Have you used podcasts for your marketing? 

Want to look smart? 

Help us spread the word and impress your network by sharing this content with them. Just click the share button. Thanks!