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How To Talk Your Way To Success With Podcasts

Podcasting is taking the world by storm. Not only can it be extremely profitable, but it can be a great way to grow and market your business.

GG van Rooyen

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The rise of the average Joe

Some of the most successful podcasts in the world were created by relative unknowns.

Tim Ferriss’s 2007 book The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich was a phenomenon. The self-help/business book spent more than four years on the New York Time’s bestseller list and has been translated into

35 languages. To date, around 1,3 million copies have been sold. It’s fair to say that every author on the planet would be happy with this sort of success. When it comes to book publishing, it doesn’t get much better than this.

Now compare the success of The 4-Hour Workweek with that of Ferriss’s podcast, The Tim Ferris Show. At the end of 2016, the show reached 100-million downloads, meaning that since the creation of the show, individual episodes have been downloaded more than 100-million times through iTunes and other podcasting channels.

Ferriss hadn’t anticipated that level of success. In fact, he started podcasting on a whim, just to see what the response would be.

“I was burned out after The 4-Hour Chef, which was nearly 700 pages, and I wanted a casual but creative break from big projects,” says Ferriss on his blog. “Since I enjoyed being interviewed by Joe Rogan, Marc Maron, Nerdist, and other podcasting heavies who really move the needle, I decided to try long-form audio for six episodes. If I didn’t enjoy it, I would throw in the towel and walk.

Related: 7 Podcasts Every Entrepreneur Should Be Listening To

“My rationale: Worst-case scenario, the experience would help me improve my interviewing, which would help later book projects. This is a great example of what Scott Adams, creator of Dilbert, would call ‘systems’ (win even if you lose) thinking.”

So, he saw it as a win-win. Even if the response wasn’t great, it would have been a worthwhile experience. Ferriss also applied one of his regular approaches to podcasting, asking himself: What would this look like if it was easy? Some popular podcasts, like Freakonomics Radio, for example, are highly produced and have a strong narrative structure.

Ferriss knew that he was most likely to stick with it if he made it as easy as possible to do. So, instead of a complex podcast that required a script and heavy editing, he opted for a freeform conversational structure. He simply turned on the microphone, and started talking to people.

Monetising a podcast

Monetising a podcast

Even though podcasts are generally free to download, they can create a nice revenue stream. But, as is often the case in the digital sphere, it’s a numbers game. You need some real traction before the money starts to roll in. Like banner ads, podcasts work on a CPM (cost per impression) model. Popular podcasts have sponsors who pay for a pre-roll message/ad at the start of the podcast. A typical figure is $18 (R234) per 1 000 downloads for a 15-second spot, or $25 (R325) for a 60-second message. Many podcasts have more than one sponsor, so you could make more per 1 000 downloads. Also, as the popularity of a podcast increases, the CPM rate also goes up.

“Premium podcasts tend to charge between $25 and $100 CPM. By ‘premium’, I mean high-converting, single-host, iTunes top-50 podcasts,” says Ferriss.

So, if your CPM is $50 and you’re getting 100 000 downloads, you multiply 50 with 100 to get an income of $5 000 (R65 000) per sponsor per episode.

Tim Ferriss could be making millions a year from his podcast alone, but he chooses not to monetise too aggressively.

“If I wanted to fully monetise the show at my current rates, I could make between $2 million and $4 million per year, depending on how many episodes and spots I offer. So why only ‘if I wanted to fully monetise?’ Because ‘fully monetising’ — bleeding the stone for all it’s worth — is nearly always a mistake, in my opinion,” says Ferriss.

“I want to convert casual listeners into die-hard, fervent listeners, and I want to convert casual sponsors into die-hard, fervent sponsors. This requires two things: Playing the long game, and strategically leaving some chips on the table. As a mentor once told me: ‘You can shear a sheep many times, but you can skin him only once.’”

Indeed, if you want to create a successful podcast, it’s important not to try and monetise too early.

“Novice podcasters (which I was) and bloggers get too distracted in nascent stages with monetisation,” says Ferriss. “In the first three to nine months, you should be honing your craft and putting out increasingly better work. Option A: You can waste 30% to 50% of your time to persuade a few small sponsors to commit early and stall at 30 000 downloads per episode because you’re neglecting creative. Option B: You can play the long game, wait six to twelve months until you have a critical mass, then you get to 300 000 downloads per episode and make 10x per episode with much larger brands. If you can afford it, don’t be in a rush. Haste makes waste. In this case, it can make the difference between $50 000 per year and $1 million per year. To reiterate a phrase more often used for blogging: Good content is the best SEO.”

Of course, you could argue that a self-help guru like Ferriss has a much easier time launching a podcast than your Average Joe, and he certainly has an existing audience, but he believes that anyone can start a great podcast. Being a ‘famous’ person doesn’t guarantee success, and some of the biggest podcasts around were created by relative unknowns.

“Coming to the party with a pre-existing audience isn’t enough. Celebrities, YouTube icons, and bestselling authors start podcasts every week that get abandoned three weeks later,” says Ferriss.

“Like everyone else, at one point, I had zero readers and zero listeners. We all start out naked and afraid. Then your mom starts checking out your stuff, or perhaps a few friends give a mercy-listen, and the fragile snowball grows from there.”

Related: Everything You Need To Know About Podcasting But Were Afraid To Ask

Creating your own podcast

Starting a podcast is relatively simple and cheap. All you really need is a microphone, a guest and an iTunes account. As mentioned earlier, it’s better to start small, gain momentum, and then think about monetisation down the line.

“Upload at least two or three pre-recorded episodes when you launch your podcast. This appears to help with iTunes ranking, which — like bestseller lists — can be self-propagating. The higher you rank, the more people see you, the higher you continue to rank,” says Ferriss.

He also recommends that you keep things simple. “Most would-be blockbuster podcasters quit because they get overwhelmed with gear and editing. I decided to record and publish entire conversations (minimising post-production), not solely highlights. I also use a tremendously simple gear set-up and favoured Skype interviews for the first 20 or so interviews, as the process is easier to handle when you can look at questions and prep notes in Evernote or a notebook.

“As Tony Robbins would say: Complexity is the enemy of execution. You do not need concert hall-quality audio. Most people will be listening in the subway or car anyway, and they’ll forgive you if recordings are rough around the edges. Audio engineers will never be fully satisfied with your audio, but 99,9% of listeners will be happy if you’re intelligible and loud enough.”

Other ways of making money

The CPM/sponsorship model is not the only way to make money with podcasting. You are, of course, also free to approach companies about sponsorship outside the CPM model. If you’ve got a podcast that will align well with a specific brand, you could approach the company about funding the show.

You could also ask your audience to sponsor the show. Neuroscientist and philosopher Sam Harris has a popular podcast called Waking Up, which is created entirely through audience contributions. Harris doesn’t believe in the CPM model, since he thinks it can sometimes seem a bit greedy and also forces listeners to sit through a lot of ads.

The popular Joe Rogan Experience podcast typically has around 12 minutes of ads, while The Tim Ferriss Show usually has about six minutes of ads. Harris has no ads, but does ask his listeners for donations. Of course, only a fraction of listeners will ever decide to pay for the content you create, but if you have enough listeners (Harris has around 800 000 every week), a relatively small number is enough to make it worthwhile.

You can ask for donations through your own website, or through a service like Patreon, which is an American Internet-based membership platform that provides business tools for creators to run a subscription content service.

You should also keep in mind that a podcast can be a smart investment, even if you make no money from it whatsoever. A podcast can be a great way to position yourself as an expert or thought leader in a particular industry. So, instead of trying to monetise your podcast directly, you can use it as a form of content marketing to promote your products and services. Importantly, though, you should not be too aggressive in your marketing. If the podcast feels like nothing more than an extended ad for your business, listeners will be put off. Instead, focus on creating great content that will drive people to your online channels.

A podcast can also be a great networking tool. You might not be able to get a meeting with a successful CEO, but you could invite him or her onto your popular podcast. Once that relationship has been created, talking business becomes easier. You could also offer your podcast to customers as a platform to discuss their own business successes and challenges. Regardless of how you choose to utilise the medium, podcasting provides an excellent opportunity to speak directly to an audience that no entrepreneur should ignore. EM

“Like everyone else, at one point, I had zero readers and zero listeners. We all start out naked and afraid. — Tim Ferriss

Related: 10 YouTube Channels Every Entrepreneur Should Follow


Did you know?

Podcasts are the single fastest growing medium in the world.


Lessons Learnt

The rise of Gimlet Media

Gimlet Media in the US was created a few years ago specifically as a podcasting company. Gimlet’s first season of its first podcast show, Startup, follows the launch of the company. It’s a warts-and-all look at how the company tried to secure funding, find offices and hire staff. If you want to get into podcasting, it’s definitely worth a listen.

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Online Marketing

10 Online Marketers To Watch In 2018

The more diverse your sources of news and inspiration, the better. These ten people can help get you there.

Jayson Demers

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Online marketing requires experience, creativity and a working knowledge of the latest trends and technologies necessary to stay competitive in the modern landscape. And while there aren’t any shortcuts to gain more experience, there is a convenient way to stay up to date on the latest marketing trends and get inspiration for your creative campaigns.

That way? Following and paying attention to the best, smartest marketers in the industry.

With 2018 just getting started, I wanted to list some of my favourite marketing influencers, some of the most influential experts in the industry and some of the most promising creative minds to pay attention to this year:

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The Best Conversion Rate Optimisation Tips To Help You Grow Your Business

Whether you’re the owner of a company, or an online blogger, knowing conversion rate optimisation techniques will help you immensely.

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Conversion rate optimisation, otherwise known as CRO, is a 21st-century way to turn visitors to your website or blog into followers of your information or customers of your product or service.

Therefore, whether you’re the owner of a company, or an online blogger, knowing conversion rate optimisation techniques will help you immensely.

What Is Conversion Rate Optimisation or CRO?

Internet marketing, or what some people call online marketing, is promoting your product or service on the Internet through the digital channels available. Driving traffic is to your website or blog is hard, but it’s something you need to do in order to sell your product or service, so the last thing you want is to leave money on the table.

Traditionally, from the traffic you drive to your blog or website, a percentage of that traffic will become your customers or followers.

CRO is conversion optimisation strategies that puts a focus on your blog or website to determine what small or big changes need to be made to convert as many of your visitors as possible.

It’s the classic case of not working harder, but smarter.

Changes such as a new headline, new sales copy, a different coloured CTA (Call-to-Action) button, and more, are tested for effectiveness. This helps you take out all the guesswork and make changes that are proven to convert more sales.

Techniques such as A/B testing, where you create two different landing pages and send the same amount of traffic to each, is one example.

At the end of the day, the version that receives the most conversion is the one you would choose. A site with significant traffic may successfully test over a shorter time. On the other hand, in order to get accurate data, a site with a smaller amount of traffic will likely need more time than a larger one for testing.

Related: Beginners Guide To Digital Marketing In South Africa

What Happens When You Convert More Visitors Into Customers?

It’s a no brainer, when you convert visitors into clients and customers, your sales increase, and that’s the number one goal of any company or business. CRO can help you grow your business by receiving the same amount of traffic that you’re currently receiving.

Technically that means that you can make more sales without having to spend more money on marketing.

That also means that you’re not focused on the number of traffic you pull in with a mind on percentages, but rather focused on making the most of the traffic you currently have which makes the most of your marketing efforts.

Not Utilising CRO Means You Are Leaving Money on The Table

money-on-tableLet’s say you’re a small company with a goal of R50,000 a month in revenue. Your job is to turn a percentage of your visitors into customers. Without the correct conversion rate optimisation strategies, you’re looking strictly at numbers. You find that 1,000 visitors turn into 50 customers with a revenue of R20,000, which is R30,000 away from your goal.

Without the correct CRO strategies in place, you would work to increase the number of visitors to your site. However, with CRO, you implement e-commerce CRO tips that result in those 1,000 visitors turning into 125 customers.  That brings you to your R50,000 goal.  Without performing conversion rate optimisation, you’ve left R30,000 on the table.

Now that you’ve reduced your cost per acquisition, or what you pay per sale or click or form submit, you can either invest more in advertising or just bank the profits. Now that you understand what conversion rate optimisation is all about, let’s have a look at some of the best strategies that can help you take your business to a whole new level.

20 Of The Best CRO Strategies

You can spend loads of money on a fancy website or blog, but if it isn’t converting correctly, you’re losing customers and sales. That’s why conversion rate optimisation is becoming the number one priority with websites and blogs in the 21st-century.

1. Create an Effective Headline

If you are trying to convert visitors into followers or customers from a specific post, then your headline is one of the most important elements. It’s not there for a hard sell; it’s there to draw your potential customers to your site so that they’ll check out your product or service.

Your headline must show people what benefit they will receive from using what you have to offer.

Keep changing up those headlines till you find a strategy that works.

Related: Beginners Guide To Digital Marketing In South Africa (PART 2)

2. Reduce Huge Blocks of Text with Bullet Points

The way you present the content on your website is crucial. Give a potential customer too much information, and they’ll leave your site with eyes glazed over. Any material you present should be not only easy to understand but short and to the point.  One of the best ways to do that is with bullet points.

Bullet points create an organised presentation that keeps potential customers interested.

3. Include Your Contact Information

Significant changes can be done to your website or blog to increase conversions, but so can small ones. Include your contact information on your site or blog. This shows that you’re accountable and don’t mind being contacted, which can lead to customer trust and eventually sales. Include your phone number, email address, and even your mailing address.

4. Replace Phony Stock Photos

Stock PhotosYou know what a phony stock photo looks like. It’s the kind that you purchase from stock photo sites, and they’re the kind that you often see at more than one website. These types of photos look phony, and they reduce your credibility. Replace fake-looking stock photos with professional, unique photos or good quality photos that you’ve taken.

For example, instead of using a stock photo model with a cheesy grin, use a picture of one of your employees.

5. Use a Pop-Up Form

One effective way to convert visitors into followers and subscribers is a pop-up form. When visitors come to your side, a form pops up that encourages them to leave their name and email address, or just their email address, to become a subscriber. When you have a list of subscribers, you can then turn them into customers through newsletters, emails, etc.

Related: Beginners Guide To Digital Marketing In South Africa (PART 3)

6. Eliminate Unneeded Form Fields

A website or blog that is not user-friendly when it comes to form fields may not translate to customer conversion. A form field is where your customers type in their information.  What is the bare minimum of customer information that you need? You ask for the name, but do you also need the company name, for example, or can you do without having a customer type that in?

7. Remove Automatic Image Sliders

Images that flash before your eyes automatically may look attractive, but automatic image sliders have been proven to create banner blindness and therefore, reduce conversion. Use static images instead.

8. Include Videos

Videos have proven to be effective in drawing visitors and turning them into customers. If your site sells fishing products, for example, include a video of an expert fisherman using one of your fishing poles. Make sure the video is no more than two to three minutes long and be sure to put one on your landing page.

9. Make Your Call-To-Action Button Pop

Here is another strategy that seems small but that may prove to be very effective. Alter your call-to-action or CTA button. For example, is it more efficient for your button to say “Download Now” rather than “Buy Now”?  Is it better for your CTA button to be a bright red rather than a navy blue? By testing changes to your call-to-action button, you can determine if such a change will be effective.

10. Limit Your Call-To-Actions

If you have one call-to-action button on your website, that’s a wise choice. Too many call-to-actions can confuse potential customers and turn them off from your site. Put your focus on one effective call-to-action.

11. Have You Included the Word “Free”?

If there’s one thing that people love, it’s free stuff. What can you offer potential customers that are free?

For example, let’s say you sell psychic readings. Offer your potential clients a 10-minute free reading and display the offer prominently on the front page of your site. Chances are you’ll get a lot of conversions for your niche. Once you’ve drawn in customers with the free deal, you can better bring them to your paid services.

Related: Beginners Guide To Digital Marketing In South Africa (PART 4)

12. Match Your Landing Page to Your Ad

When your ad matches your landing page, the colour co-ordination and organisation can translate to conversions. In addition to the colour, the copy you use on your ad should match, in some way, with your landing page. So, when you draw potential customers to your ad, you gently move them to your landing page with no sharp differences.

13. Incorporate Trust Seals on Your Checkout Page

If there’s one thing that draws customers to a product or service, it’s trust. Incorporating trust seals on your checkout page and other places on your website is an excellent way to show that you are legitimate and to increase conversions.

For example, if you are offering dental products, a seal from a trusted dental association helps with customer trust.

14. Convey a Sense of Urgency

When you are promoting a product or service letting your potential customers know that a particular price will end soon, or that a product or service will only be offered for a limited, time greatly helps with conversion.

For example, let’s say yours is a site that sells cookware and you’re providing a crock-pot at a temporarily discounted price.

You would display on your blog or website a photo of the crock pot, along with content and possibly a video, and you would show the price and when the price ends.

15. Give Them a Money-Back Guarantee

There will always be a percentage of customers who are on the fence about your product or service. So how do you get them over that hump and create a conversion?  One way is to offer a money-back guarantee and to display it where it can be seen.

Keep in mind that it’s good to put a time limit on the money-back guarantee to something like 30 days or 60 days.

Related: Beginners Guide To Digital Marketing In South Africa (PART 5)

16. Include Live Chats

live-chatsMany companies are adding live chat prominently on their websites to answer customer’s questions in real-time. This is an effective solution that can lead to conversions. It allows you to take care of all a client’s issues to lead them into a sale. Many companies utilise chat apps to help with this process.

17. Retarget Your Ads

There are large and small changes that can be made to your website to increase conversions, but changes to the way you’re handling your ads could be done as well. Retargeting customers, can help increase conversions period.

When visitors come to your site, you create a customised targeted ad to get to them as soon as they leave.

If a visitor has come to your cosmetic store looking for an eye shadow, when they leave your site you target them with an ad for a different eye shadow in your line. The goal is to keep a visitor engaged with your product or service while staying top of mind.

18. Give Them Free Shipping

Shipping costs for a product can often make or break a sale. So, if there’s one thing that can contribute to conversion, it’s free shipping. Let your customers know that shipping is not a cost that they have to concern themselves with.

If free shipping seems unaffordable for your company, work with ways to cover shipping costs with your product prices.

19. Include Real Testimonials With Photos

One of the best ways to instill confidence in your product or service is with real testimonials. Have customers write testimonials of 50 to 100 words about your product or service and include a photo of the customers next to their testimonials. Include their full name with their picture.

Related: Beginners Guide To Digital Marketing In South Africa (PART 6)

20. Get Customers to Share Their Purchases on Social Media

These days, almost all of your clients are likely to be on at least one social media site. Encourage them to share the purchases they’ve made of your products on social media, such as Instagram.

Every time a customer buys one of your products or your services, automatically give them an opportunity to share and talk about what they’ve bought with a user-friendly share process included on your site.

The sooner you work on conversion rate optimisation tips on your blog or website, the sooner you’ll be bringing in customers in the most efficient way.

Customers translate to profits and profits translate to a successful company or business. CRO takes time, but with patience, your website or blog will see vast improvement in conversions.

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Implementing 2 Advanced Google AdWords Strategies

Find out how Dynamic Search Ads and Call-Only Campaigns can give you that competitive edge you need on Google AdWords.

Perry Marshall

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Let’s explore two advanced Google AdWords campaign types: Dynamic Search Ads and Call-Only campaigns. Give these two campaign types a try. They’ll let you squeeze even more from your AdWords account.

Dynamic search ads (DSAS)

Dynamic search ads are magical keys to reaching your customers. And the best part? Using them is easy once you master the setup.

What Are DSAs?

Google knows it’s hard to keep your campaigns perfectly in sync with your website. If you have an e-commerce site with thousands of products changing regularly, it’s a chore to be constantly creating new keywords, new ad groups and new ads inside your AdWords account.

DSAs were created to fill this gap. They let you show ads to excellent prospects who might be searching for items you sell on your site even if you don’t have a corresponding keyword for them in your account.

Related: The Secret to Building A Profitable AdWords Campaign

Why should you set up a DSA?

As long as you set a low cost-per-click, dynamic search ads typically have a decent CPA and provide additional relevant traffic. They’re also great for research as you get to uncover new search terms that people are using to find your site. (You can use this intelligence after the fact to add new keywords to your account.)

Let’s say you’ve just started selling wrought-iron fire pits on your e-commerce site but you don’t have the keywords for them yet in your AdWords account. A new prospect – we’ll call her Kim – is currently online searching for this by name. Kim types it in verbatim: “wrought iron fire pits.”

If you have a DSA campaign set up, you’re in luck: Google instantly recognises that you sell these but don’t yet have keywords for the purpose. Thankfully, you don’t miss a beat with Kim – Google shows her your Dynamic ad, then she clicks, comes to your website and makes a purchase.

How do they work?

It starts with Google regularly scanning your website and keeping an index of all its pages. When you’re starting out, you can choose to point Google to your entire site – we recommend this for your first DSA campaign – although later on you can target specific categories within your site.

Google knows what keywords are in your account and, more importantly, what keywords are not there. This means they can make accurate judgments about when to step in and show your DSA ads.

When setting up DSAs, Google creates the headline and you write the description. They choose the final URL and you set the bid.

Related: 7 Questions To Ask Before Hiring An Adwords Agency

Here’s how to set up a DSA:

  • Create a new campaign. One of the options you’ll see is to create a DSA campaign. We suggest not using that as it would limit your options further along. Instead, create a new Search campaign with “all features.” Your plan will be to only use DSAs inside that campaign.
  • You’ll need at least one ad group to hold your DSAs, and one is typically enough if you’re just starting out.
  • You still want to be split-testing, even though Google chooses your headline for you. So, create two different DSA ads with different body copy in each.
  • Choose the target. Start with the “all webpages” default. Save the advanced target­ing for later.
  • Add in ad extensions just as you would for a regular campaign.

Ongoing management of your DSA

dynamic-search-ads

Review your data. Keep an eye on the search queries Google chooses, particularly in the first few days. This lets you add any new negative keywords that you don’t want your ads shown for. And it’s a good way to identify and add new keywords you hadn’t yet thought of for other functioning campaigns. (You can add these new keywords as negatives in your DSA campaign, which forces that keyword traffic over to new campaigns in your account. Your DSA campaigns won’t be affected.)

Call-only campaigns

These allow you to create search ads where Google shows your phone number rather than a headline. As such, they only show on mobile devices capable of making calls.

A person clicks on your ad, which starts the process of calling your business directly from their mobile, rather than taking them to your site.

Related: 3 Things You Probably Didn’t Know About Google Adwords

Why use call-only?

Call-only campaigns force people to call your phone number rather than visit your site. If generating more phone calls is high priority for your business, call-only campaigns are worth testing.

How to set up call-only campaigns

Setup is simple. You can create a new campaign from scratch or just copy your existing search campaigns and change the ad type. Replace regular ads with call-only ads.

Tip: Google wants to see individual ad groups with a reasonable number of impressions at the ad group level. So a small number of ad groups with more keywords in each one – generating more impressions per ad group – will work better for call-only campaigns.

This article was originally posted here on Entrepreneur.com

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