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Podcast Monetization: Setting up the Best Podcast Sales Funnel

Did you know an effective podcast sales funnel can skyrocket your profits? Podcasts are an incredible way to build an intimate relationship with your consumers. As the popularity of this incredible audio-content media is escalating more businesses are pushing their services and products through podcasts.

But how can you make the most sales out of your podcasts? The Answer: Podcast Sales Funnel

Here, we are sharing our secret podcast sales funnel to help you sell your product to the majority of your targeted audience at the most profitable price.

Let’s unfold the secret together:

What is Podcast Sales Funnel?

Podcast sales funnel is an intelligently designed method to convince listners to buy a product or a service you are selling. For example, if a podcaster provides additional valuable content to their podcast subscriber, their podcast sales funnel will aim for more subscriptions.

It is called a funnel because, while embarking, your ideas will be exposed to as many interested parties as possible. The people who are most likely to respond to your product continue to move through different decision stages over time. Eventually, the most committed individuals will make a purchase.

Moving forward, their support should then keep your endeavors going while you continue providing the promised benefits of their purchase.

As people move from the outset of the funnel to the end and the generalized audience gets more targeted, the numbers will fall. Only a fraction of your original audience at the beginning will make the purchase, committing their trust in your product.

Do you Need a Podcast Sales Funnel?

To begin with, ask yourself: Is your podcast a product or a promotional tool?

The end goal of a sales funnel is to make income to continue making podcasts and grow your audience.

Sometimes, the podcast is used as a PR tool to convince people to buy another product. Some brands use podcasts to influence public opinion about their products and company. Businesses use podcasts as audio newsletters to keep their customers informed of upcoming changes, sales, or promotions.

Regardless of the method you choose, all you need is a clear objective. For example, to create the best podcast sales funnel, you need:

  • An effective way to communicate with your audience. Besides the podcast, you should have a website, a social media account, and an email list.
  • A reliable and fixed platform for your audience to find more information about you and your podcast. 
  • The ability for your audience to contact you (via email or social media)
  • A commerce platform

The Podcast Sales Funnel

A podcast sales funnel consists of five primary stages. It includes:

  1. Awareness
  2. Buyer’s Persona
  3. Evaluation
  4. Conversion
  5. Purchase

Let’s discuss every funnel stage in-depth:

Awareness

The first stage of any sales funnel is marketing your brand. No podcast starts with thousands of listener base. But, with consistent work and quality content, they grow their audience. The same applies to you!

But how will you prove how good your podcast (podcast subscription) is if nobody knows you exist?

The most crucial step of marketing your podcast is in-depth market research. Reap out the following conclusion about your audeince from your market research:

  • Their wants
  • The most popular social media channel amongst your followers
  • Understand their areas of interest
  • Identify the elements that infuriate their purchasing instincts

Now is the time to spread the word about your podcast through various media. There is no one-platform fit-all. Instagram might be a great platform to attract the audience for some, while many may find Twitter to be the game-changer.

One clever technique of increasing your podcast awareness is inviting influencers, subject-matter experts, and popular names of your niche as podcast guests on your show. Along with bringing new perspectives and values to your audience, it also helps you to converge your guest’s following towards your podcasts.

It is the podcast equivalent of tagging on social media platforms!

NOTE: Did you know you can be a guest on the SayWHA Radio Network podcast? 

Be On A SayWHA Radio® Network Podcast!

 

As a podcaster, you have to market your podcast and spike your reach. But, not every great content creator is an equally compelling marketer. That’s why there are podcast marketing services, such as one by SayWHA Radio Network, to help you through this stage and, in turn, skyrocket your revenue later on.

Know More: Expert Podcast Marketing 101: Top 7 Winner Strategies

Buyer’s Persona

The next step is to build your buyer’s persona. The better you understand your audience, the more converting marketing strategies you can implement to attract them towards your product.

Start off by collecting the personal information about your targeted audience, including:

  • Age
  • Gender
  • Location
  • Education
  • Interests
  • Job roles
  • Career Path

Try to learn about their values and fears in personal and professional life, their goals, and the challenges that your products can help them solve.

Following research questions should be pillars for you to create an excellent and accurate buyer’s persona:

  • Why will your customers be interested in buying your product (subscription)?
  • What influences their buying decision
  • How will your product purchase benefit them (educate, entertain, advise, motivate, etc.)?

Not all your listeners would be interested in buying the product. No matter how enticing your subscription is, how good reviews or rating your podcast have, or how beneficial it might be for them. That’s why knowing what type of customers you don’t want is equally important.

Now, with all the needed information about your buyer’s personal, you move on to the next stage of the funnel, evaluation.

Evaluate

At the evaluation stage, your buyers will evaluate your offer, compare it with your competitor, and decide whether to go forth with the purchase or not. Fortunately, you must have built a strong relationship with your listeners by now.

Podcasts provide a wealth of opportunities to engage customers. The intonations in your voice, the jokes you make off-the-cuff, the laughter you emit make people feel close to you. They feel like they are learning more about you. You are no longer just a gimmick or a marketing campaign but a real person they can trust.

You can fill in the interest and desire-generating part of the marketing funnel through podcasts – also known as the relationship funnel – by fostering an ongoing relationship with your customers. For example, watching a movie, have you ever thought one of the actors would be a good match for you?

Even though you’ve never met them, you don’t really know what they would think of you if they met – but you still feel like you know them somehow. That’s half the equation of podcast intimacy.

How about a company with a lot of money to spend on advertisements but feels a bit impersonal, or a company with less cash but puts effort into getting to know you? Who would you put your faith and trust in?

This is the answer to your evaluation stage!

Engage with your audience, be a part of their online conversation about your latest episode, make your advertisements more personalized, learn more about your audience, and present them with offers they can resist. Show them why your podcast subscription is worth their money, time, and trust.

Leverage the following strategies to strengthen your case in front of your targeted listners:

  • Search Engine Optimization
  • Social Media Marketing
  • Guest Posting
  • Influencer Marketing

Conversion

After long research, your audience is here to check out your subscription plans or offers to buy your product. Don’t let all your efforts go in vain here. Make sure to converge your audience’s attention towards your excellence by:

  • Creating an excellent and converting landing page
  • Unveiling your front end
  • Presenting an upsell offer at the back end
  • Presenting downpayment, discount, and offer options
  • Keep the ball rolling

On its own, a solid lead generation/ conversion strategy is not sufficient. A good way to engage your audience would be to back it up with an effective engagement method. Customers want to learn more about the products and services you offer. Use the following strategies to accomplish this:

  • Regularly publish top-notch and engaging blogs
  • Make interesting audiograms and videos
  • Promote your podcast episodes, snippets, blog posts, articles, and lattes contents via email marketing campaigns.
  • Create a mailing list and send them regular newsletters.
  • Promote your products and services on social media channels.

Purchase

Yay! you did it. Finally, your ideal listners are on your door, ready to take the final leap and become subscribed members of your show.

The only barrier left between your subscribed listener and your show is payment. Making sure your purchase form is completed quickly is vital. You can accomplish this by:

  • Offering one-click sign-up or login
  • Reducing the number of steps required to complete purchase forms
  • Reducing the number of fields in the form

There are a number of tools on your to collect payment from your audience through a variety of media, be it podcast, website, or iTunes. Some of the easiest and our favorite tools include:

  • Patreon
  • Podbean
  • Memberful

The Race Have Just Started

The content you create for a private podcast needs to be the highest quality. In addition to having excellent sound quality, your podcast content should be unique, informative, and entertaining.

That’s all you need: high-quality content and sound. Right? Nevertheless, you must pay attention to a few more things behind the scenes.

For your paid podcast to grow and build a loyal following, you need to measure its performance regularly. The secret to success for any business venture is data-driven marketing.

Pay close attention to downloads and reviews from listeners. Your audience is most likely to engage with topics based on these numbers.

You should create a strong link between your podcast, courses, business, and other products. Build a universe of learning and engagement that satisfies your audience’s curiosity, so they become your brand ambassador. Nothing is a more powerful marketing tool than word of mouth despite being difficult.

Let Us Help You

If you have made it to the end, then congratulations! You are determined to make the maximum profit from your product, and more importantly, you understand the importance of podcast sales funnels.

Creating profit-generating sales funnels can be a bit daunting, and we won’t lie, selling your product or subscription through a podcast is not everyone’s cup of tea.

So why don’t you let us help you out? We insist!

SayWHA Radio Network has over 11 years of podcast revenue-generating experience. We have helped some of the most popular podcasts in making their dream sales. You are next!

Book your first podcast consultation with SayWHA Radio Podcast and skyrocket your sales today!

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