In this special episode of the Frugalpreneur podcast, host Sarah St. John shares an insightful guest expert talk from her Ampmypod community. This time, we welcome Seth Silvers, founder and lead strategist at Story On Media, who delves into the intricacies of podcast ROI (Return on Investment). Seth’s discussion is a must-listen for podcasters aiming to grow, market, and monetize their shows effectively.
Seth emphasizes the significance of understanding and measuring ROI over a 24-month timeline, urging podcasters to shift their mindset from short-term gains to long-term success. He introduces the Story On framework, a four-step process designed to ensure a podcast’s foundation is solid and geared towards achieving ROI. This framework includes defining your audience, identifying their problems, creating compelling content, and having a clear offer.
Throughout the talk, Seth provides actionable insights and strategies for podcasters to build a sustainable and profitable show. He highlights the importance of dynamic ad insertion for offers, the necessity of having a well-defined audience, and the value of creating content that directly addresses the problems of that audience. Seth also discusses different types of offers and how to ensure they are compelling and valuable to listeners.
(00:00) Frugalpreneur podcast features guest expert talks from Ampmypod
(00:34) Sarah: If you have questions, feel free to reach out to me
(01:06) Today we are going to talk about the Roi of podcasting
(01:50) Seth Silvers is the founder and lead strategist at Ah story on media
(03:28) What makes a podcast worth it 24 months from now
(05:11) In order for your podcast to be worth it, you have to have ROI
(06:38) You have to have a clear path to monetize or bring revenue into the show
(07:27) If you don't have a solid foundation to your show,
(08:22) So the first element of this foundation is to have a defined audience
(08:55) You have to have a defined audience when you're creating content
(13:45) The third piece of this framework, after your audience and their problems, comes content
(15:59) One thing that I've seen a lot of podcasts do poorly is offer
(19:00) Most podcast hosts now do some form of dynamic ad insertion
(23:37) A really good podcast will not fix a broken business
(25:42) Sarah: I think before dynamic ad insertion was really a thing
(27:32) A lot of shows offers are not seeing traction because their audience isn't focused
(32:44) I think private RSS feeds can work really well, assuming you're delivering quality content
(40:28) Do you know of any, um, private RSS feeds that have community features
(47:11) Tim Ferriss just crossed a billion downloads, which is wild
In the ever-evolving world of podcasting, many creators find themselves grappling with the question of ROI—Return on Investment. Why do some podcasts thrive while others falter? In a recent episode of the Frugalpreneur podcast, host Sarah St. John welcomed Seth Silvers, founder and lead strategist at Story On Media, to delve into this very topic.
Seth Silvers brings a wealth of knowledge to the table, particularly when it comes to helping businesses leverage podcasting for growth. He emphasizes that understanding and achieving ROI in podcasting isn't just about looking at short-term gains. Instead, it requires a strategic long-term approach.
One of the most striking points Seth makes is the importance of adopting a 24-month mindset. He suggests that podcasters should look at ROI over a two-year period rather than focusing on immediate results. This long-term perspective allows podcasters to build a solid foundation and make meaningful adjustments along the way.
The Story On Framework
1. Defined Audience: Knowing your audience is crucial. Seth advises podcasters to create content for one ideal listener, often referred to as the Ideal Client Avatar (ICA). This focus ensures that the content is targeted and relevant.
2. Identified Problems: Understanding the specific problems and challenges your audience faces is the next step. This knowledge allows you to create content that directly addresses these issues, making your podcast invaluable to your listeners.
3. Compelling Content: Your content should be a bridge that helps your audience solve their problems. Whether through solo episodes or guest interviews, each episode should provide tangible value.
4. Clear Offer: Finally, having a clear offer is essential. This isn't just about selling a product; it's about providing a clear path for listeners to engage with you beyond the podcast. Dynamic ad insertion can be a powerful tool here, allowing you to update offers as needed.
