Your great content will only get you so far. You need to master marketing in order to succeed. It's not just marketing your business. You also need to grow your podcast with powerful marketing. It all works as a system. I recently spoke with a few podcasters on the verge of throwing in the towel and ending their podcast. However, I've had a few conversations with other podcasters who are doubling down and going all in. The difference between the two groups is marketing. To build a successful podcast, lean into your marketing. THE ROI The first podcaster, let's call her Anne to protect her identity. She is frustrated by the perceived lack of return on investment. Ann told me, "Although I love podcasting, I am not sure I can justify the investment of time and money for the ROI that I am receiving right now in leads and revenue. I am just not seeing that things will shift soon enough and I know it's a long game. I haven't decided yet if I am pausing the show or going to do seasons or how I am moving forward but I know I need to step back from everything and reevaluate." This is common in all podcasting. There is an old saying in the advertising world. It is to marketing pioneer John Wanamaker. He is quoted as saying, "Half the money I spend on advertising is wasted. The trouble is I don't know which half." Marketing is cumulative. Each piece add to the next. Business owners want to believe if they run an ad on Facebook, it immediately generates a sale. That isn't how marketing works. THE SUM OF THE PARTS Here is an example of how your marketing might work. Your ideal client will hear you mentioned on another podcast. Awareness has begun. She hears you interviewed on another podcast. Now she might think hmm, that brand sounds familiar. When she next sees you on a summit, familiarity starts to set in. She might download your lead magnet. Next she might see your logo as a sponsor of an event. That triggers memory of the lead magnet that she digs up to review. Your lead magnet gets her to check out your podcast. She listens to a few episodes and starts to understand what you do. Finally, she comes across your Facebook ad. She clicks the ad and takes action to schedule a call with you. So, let me ask you this... Which piece of your marketing worked? The whole is greater than the sum of the parts. It all builds on each other. Each part serves a purpose. Your podcast allows you to build the relationship with your audience over time. When she is ready for your solution, you are top of mind. It truly is a long game. You don't become best friend with anyone overnight. MARKETING FOR REVENUE The next podcaster needed to focus on revenue. Let's call him Bill. Bill was a couple dozen episodes into his show. He was getting frustrated with the lack of growth. When we talked, Bill told me, "I'm pausing everything right now to get other pieces in place. I need to focus on things that generate revenue. Right now, I have so many things swirling around that I'm not getting clear. I'm getting derailed and distracted." What Bill needs is a strategy. How does the podcast fit into the overall revenue generating strategy for his business? "Build it and they will come" sounds great when Kevin Costner's character hears it in the movie Field of Dreams. But the real world isn't like that. Growing your audience takes marketing. Not advertising, but marketing. The Oxford Dictionary definition of marketing is, "the activity or business of promoting and selling products or services, including market research and advertising." Advertising is part of marketing. But all marketing isn't necessarily advertising. Everything you do to make people aware of your product, service, podcast, or anything else is marketing. When you mention your podcast from the stage, you are marketing. Mentioning the show in your newsletter is marketing. If you're getting interviewed on another podcast and you mention your show, you're marketing. MARKETING FOR AWARENESS To get your show to grow, start making people aware your podcast exists. This doesn't need to take a ton of time. Tie it in with everything you already do. If you speak, mention it. When you email, mention it. As you're being interviewed, mention it. If you participate in a giveaway, mention it in your lead magnet. Be intentional. When you say, "I need to focus on things that generate revenue", marketing is a big part of that. Get in front of new prospects. Give those people something for free in exchange for their name and email address and get them on your email list. Send emails to your list, and invite those people to listen to the podcast. Create great content on your show that shows people what you do. Invite them to a sales conversation with you, such as a discovery call, webinar, or video sales letter. Give great value in the sales conversation, and ask for the sale. Rinse and repeat. It's a system that grows over time. Business is not a get rich quick game. Build relationships over time and ...
