Overview

The panel focused on revenue diversification strategies for podcasters, featuring insights from Krista Williams of Almost 30 and Brittany and Chris Carmichael of The Elevated Life Club.

Krista shared her journey from corporate dissatisfaction to podcasting success, emphasizing the importance of brand deals and the need to diversify revenue streams through courses, programs, and retreats.

Brittany and Chris discussed their transition from coaching and YouTube to podcasting, using it as a marketing tool for their existing businesses. They highlighted the value of authenticity in brand partnerships and the effectiveness of email lists and social media for audience engagement. Both speakers underscored the importance of understanding and serving their audience's needs to build sustainable revenue streams.

Core Concepts

Diversifying Revenue Streams Beyond Brand Deals

Diversifying income sources is essential for sustainable growth and stability.

Key Points:

• Brand deals were easier to secure in the past but now require larger audiences

• Courses, programs, and retreats offer scalable income opportunities

• Listening to audience needs can guide the creation of valuable products

Examples:

• Krista Williams mentioned that Almost 30 started with brand deals but expanded into courses and retreats based on audience demand

• Brittany and Chris Carmichael used their podcast as a marketing tool for their existing coaching and membership programs

Quotes:

We started with courses and programs. We went on tour, we did retreats, and it was really just listening to the audience and asking them what they wanted from us and then providing that in a way that felt authentic to us. - Krista Williams

Instead of marketing other people's business and getting eyes to their company, we decided we would use it as a marketing piece for our own business. - Brittany Carmichael

Authenticity in Brand Partnerships

Choosing the right brands to partner with is crucial for maintaining audience trust and engagement.

Key Points:

• Authenticity in brand partnerships is essential to avoid alienating the audience

• Aligning with brands that reflect the podcast's values and audience interests is crucial

• Audience feedback can guide the selection of brand partnerships

Examples:

• Krista Williams shared that Almost 30 faced backlash when promoting brands that didn't align with their audience's values

• Brittany and Chris Carmichael chose not to take brand sponsorships initially to keep their message pure and focused on their own products

Quotes:

It's going to be your brand ethos in there. So when I think about DTC or like, oh, sorry. When I think about courses and programs, it's something that's always going to be authentic to you. - Krista Williams

We decided we would use it as a marketing piece for our own business. How do we get this message out? Because the message was pure. - Brittany Carmichael

Leveraging Affiliate Marketing for Smaller Podcasters

Affiliate marketing can be a viable revenue stream for podcasters with smaller audiences.

Key Points:

• Affiliate marketing allows podcasters to earn revenue without needing large audience numbers

• Promoting products that the podcaster genuinely uses and loves can build trust and authenticity

• Mid-roll ad spots for affiliate products can mimic brand deals and provide income

Examples:

• Krista Williams suggested that new podcasters use affiliate marketing to monetize their shows, even with a small audience

• Brittany and Chris Carmichael emphasized the importance of promoting products that align with their values and audience interests

Quotes:

You could have five listeners of your podcast and become an affiliate of a brand that you love and put an ad spot in your podcast that sounds like a brand deal and is going to pay you out with affiliate money. - Krista Williams

We had already had the courses, the membership, the coaching, the retreats. And so for us, the podcast was like a marketing piece. - Brittany Carmichael

Conclusion

The discussion highlighted the importance of diversifying revenue streams beyond brand deals, maintaining authenticity in brand partnerships, and leveraging affiliate marketing for smaller podcasters. By listening to their audience and adapting their strategies, podcasters can create sustainable and scalable income sources. Building and maintaining an email list is crucial for direct communication and marketing, independent of social media platforms. The insights shared by Krista Williams, Brittany Carmichael, and Chris Carmichael provide valuable guidance for podcasters looking to grow their businesses and engage their audiences effectively.

Food for Thought

• How can you diversify your revenue streams to create more stable and scalable income sources?

• What steps can you take to ensure authenticity in your brand partnerships?

• How can you leverage affiliate marketing to monetize your podcast, even with a smaller audience?

Reference Tools, Platforms, and Resources

1. Kajabi: A platform for creating and selling online courses, memberships, and other digital products

2. Email Marketing Tools: Platforms like Mailchimp or ConvertKit for building and maintaining email lists

3. Affiliate Marketing Programs: Platforms like Amazon Associates or ShareASale for finding affiliate products to promote