Here’s a little insight on the methods behind the $20 call we’re doing for Podcast Secrets on April 2. There are some really interesting methods behind this madness that I wanted to share with my readers. Hopefully it’s a model and a numbers run you can use elsewhere too.
First of all, the big elephant, nobody buys an expensive training program without really feeling it was worth the money spent. I can’t just plop Podcast Secrets in front of you and expect you to buy. I need to prove the value of the program. That is why we do the $20 call.
$20 means you have a potential to be serious. $20 means your going to listen to the call expecting value. $20 means nobody is joking around.
And $20 means that we can give our affiliate partners $18 per person they bring to the $20 call. We also give them a commission on the class sale as well (they brought us the new audience, they deserve it).
I don’t want the $20. I want to sell the class.
So on April 2, we have the big $20 call. We give a ton of information, show people why they’d want to upgrade to the full class and, hopefully, many will. If they don’t, their $20 on the “Podcast Monetization Roadmap” training was well spent and we part as friends.
People who don’t think Podcast is worth spending money on won’t be on the call.
People who do … will.
And my partners are paid well for direction the right kind of traffic my way.
Now let’s compare an $18 commission to a $40 Podcast CPM. If someone has the type of show where less than 3 out of 1,000 buy – they wouldn’t want to grab this deal.
But if their audience of buyers is more than .3% (and the right audiences are), they could do really well. And, the cool part, … I enjoy sending those checks more than some enjoy receiving them.
Remember, in this case, when I mean buyers, I mean of the $20 call. If 3 out of a thousand bought the class, heck if 1 out of a thousand bought the class, we’re talking a CPM of more than $500.
Nice numbers. When you run the numbers this way, you can have Podcasts of 3 and 4 figure CPMs. No, they don’t have the download numbers of GeekBrief.tv – but they don’t need them either.
Everyone who buys the preview call will have the option to get the class by Premium Podcast (would be silly not to). We’ll promote accordingly using this channel. We know how to do that well. When you can send a different message to each user, you can do some very cool things.
Is Podcast Secrets worth the cash? I obviously think so. FWIW, we didn’t get a single refund request for the class last year and there are some great testimonials on the order page for the call.
But the big question … does this model work outside of people looking to sell ANYTHING OTHER THAN information products on Podcasting?
Of course it does. Anybody can do this with any audience.
Step 1, spend a little cash to get the right audience. With Podcasting we can really segment out a list and get the exact people we are looking for. Get that niche audience. You can earn it or you can buy it. We’ve done both.
Step 2, give that audience what they want. This is the class this segment of the population wants.
Step 3, charge accordingly. We’re going to do just that.
And thus the method to my madness.
Don’t worry, my next piece ain’t about Podcast Secrets at all. It’s about another Premium Content Delivery Channel – HBO.