Episode 26: How Much Money Can a Podcast Make?

Okay, guys, how much money can a podcast make? So welcome back to the Healthy Profits podcast.

Welcome. I know we started this whole shebang out with this question, because the problem that so many health and wellness entrepreneurs have when they start their show is they actually don't have a strategy when it comes to monetizing their podcast. And that is always the question they ask me. It's like the first thing, how much can I make with my podcast? Do you know the answer?

I do, actually. And I know that all podcasters, especially health and wellness entrepreneurs, can make money. And I think that's the funny part, is that they know that they can make money too, but they don't know how much money they can make. And that is the big difference. Because if they think, oh, well, I can make some money on a podcast, are they thinking, oh, I can make a couple hundred bucks? Well, that's not gonna create that much leverage. So the question is, it's not can I make money on the podcast, it's how much money? And we're going to break that down for you to show you how much leverage you really have and how much personal leverage you can create for yourself. So that way you do step into your podcast in this strong way and use the strategies that we are sharing to make it actually happen.

And I think we could even use our own story with this. We did not realize how much money we could make from a podcast. And we'd launched this thing and I think we got three customers in I think the first week. Week.

Yeah.

And our agency. That was an upwards of a five figure podcast that we launched. It was insane. A high five figures. And so we say that. And you're telling me before Eric, Sammy, you sound a little annoyed right now. And I did. Because sometimes this isn't easy, let's be honest. Yeah, we just rocked a full day and now we're making podcasts. It's nine at night. I get it. It's not the most easy thing to do sometimes, but good lord, is it a money maker when you do it right? Right. So absolutely don't. Yeah, just don't let your dreams just be dreams in this whole situation. Like, I did not realize how much money was actually really at stake.

Yeah, absolutely.

So break it down for us.

So we have had a lot of shows come to us without these strategies. And they're not starting with, say, like a test audience. They don't know what their actual strength is within their show. They're not even super clear on their ideal audience yet. And maybe they are within their business, but they haven't transferred that into the way that they're doing storytelling within their podcast. And they're just trying things out. And so the cool thing is, what if there was a proven way to have your podcast make money? And the thing is, is that there is, and there are proven ways, and we go through them in this show, episode to episode. And what I want to break down for you guys today is just how much money you actually can make in.

Just one simple example, because you have this one laid out. But there's a lot of different ways, Right?

So let me go into this one example. For instance, you can use your podcast as a marketing tool for your business, of course. And so we're going to go specifically into if you have offerings, right? This could be products, this could be online offerings, this could be consulting. Such a variety. But imagine you have a thousand downloads, which that isn't a huge milestone to hit. That's actually pretty easy. So if you could turn those thousand downloads, which are. Thousand downloads, are actually a thousand people, which that's crazy to think about. It's easy to get a thousand downloads. It is really hard to get a thousand people that are interested with what you have to say in one room.

Yeah. And those are a thousand leads.

Exactly. So if you could turn 1% of those listeners into clients. Let's play with this math here so you guys can have an idea. So imagine you have a $50 product. Now, this is definitely on the low end, but a $50 product is still something, right? Times that by maybe, let's be simple, 10 listeners. That's 1% of a thousand. You could make 500 there with one episode. That might take. It's like a 15, 20 minute episode. So if you have then maybe $1,000 product, times that by 10 listeners. Okay, there's $10,000. Okay, that. That's kind of a quick jump, right? Well, let's take it to the next level. If you have a $10,000 offer and you times that by 10 listeners, again, this is just 1% of a thousand listeners. You can make $100,000.

Okay, did you guys all hear that? Because we just jumped from 500 to $100,000. And I wanted to break down this very simple, easy math. I know you guys can all follow along with that. And this is just one way, one way that you can monetize your podcast business. So Sammy's looking at me like, with a big smile because he's like, oh, I like those numbers. And I bet you guys are doing it too.

We've done it with our own show and we've also seen it done inside many, many shows at this point.

It is so exciting. It such a fun way to do it. So, you know, once you start thinking about it in that way, I want to turn the question back to you, my listener. How much money can you make? It really is honestly up to you, because it's up to your offerings, it's up to your vision, it's up to your dream, and how much do you want to make from your podcast, Then reverse engineer it from there. And that's where this stuff starts to become really fun. And you can see how it's not just a hobby, it's not just a creative outlet. It is truly an arm of your business and an important arm that you want to continue to nourish and support. So that way it can grow.

Absolutely. And I think we want to also empower you guys to have another roadmap because we give you guys so many roadmaps inside this show. And one of the ones that we love referring back to when this was actually given the framework is given to us from a really cool show. And we loved it. It really fit with us. And it was the monetization pyramid. And that's it, episode four, we're going to link that back in the show notes. But I know she gave you, Ray gave you a super simple example of turning 1% out of a thousand listeners and how that can go from 500 to a thousand to ten and a hundred thousand just by taking those simple leaps. But there is a system that you want to follow that will help you go sequentially up the ranks. So you can go from a $50 offer to a hundred dollar offer to a thousand to a $10,000 offer, because you can't usually convert somebody to a $10,000 offer without some certain steps. And this monetization pyramid in episode four will really go into that more in depth. And we won't go into that now, but listen to that episode and keep in mind as you guys are going through this, this framework and this mindset that you really can make a solid, solid living with a podcast. It is still a what we like to call a blue ocean market. And it is easier now than ever before, especially when you have shows like the Healthy Profits podcast. You've got resources that we provide you and you've got a ton of examples that we're giving you from just the shows that we've launched, some of the ones that we didn't succeed with, but really Finding and fine tuning through the last three and four years of producing the top health and wellness elite entrepreneurs on the planet. We found all the answers and all the roadmaps that are really working right now. So we just want to empower you to listen to episode four as well. And remember that you can totally hit home runs with podcasts.

Absolutely. And if you're curious and you're thinking, okay, how am I game plan? I need some tweaking. I need someone to look at them. We do have our podcast audit call that we are happy to do with you guys. And we're happy to go over your monetization plan and your strategy on how much money you want to make with your podcast.

Totally. And that's actually super fun to do.

Yep. So that link will also be in the show notes, so go check it out. Listen to the monetization pyramid, episode four, and then book a call with us if you want to dive deeper into really getting that dialed in. Because you can see it could be an amazing part of your business that you possibly aren't totally leveraging. Leveraging. Yep. All right, guys, that's it for now.

Cha Ching.

See you soon.

Now. That was a great episode. Thanks for joining us and tuning in to the Healthy Profits podcast.

Sammy and I are here to help you turn your health podcast into a treasure trove of opportunity for your listeners and your business. So join us twice a week as we unleash our favorite favorite tips and strategies that have helped our clients at Evolve Podcasting turn their show into a thriving part of their business.

And make sure you subscribe and listen in as each episode builds upon each other. And I know that you're a generous leader, so make sure you share this podcast with your fellow wellness entrepreneurs so we can all grow together.

Until next time, stay healthy and keep thriving.

Bye.

Bye.