3 Marketers Podcast

How To Launch A Podcast In 2019 With John Lee Dumas, Entrepreneur On Fire [Episode 40]

JOHN LEE DUMAS PODCAST

This week's guest doesn't need much of an introduction. I mean you read the episode title, right?

Launching and growing a successful podcast in 2019 is no easy task. With half a million podcasts on iTunes alone, it takes something special to cut through and find your ideal listeners.

That's why we decided to get some insight from the host of one of the most successful business podcasts EVER.

Yep, we managed to pin down the legendary John Lee Dumas and, never one to disappoint, he's packed a ton of value into this episode for you…

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CREATING A PODCAST THAT STANDS OUT IN THE CROWD
  • I am a huge believer in the phrase ‘the riches are in the niches’.  
  • The podcasts that win are those that find a specific pain point, a focus, and they go all in on that pain point and utilise their podcast as a way to create the solution for that major pain point.
  • The podcasts that win don’t get vague, they don’t go broad and just talk about a million different things, they serve one specific niche and one specific focus, and they find a way to do it uniquely.
  • When I first launched Entrepreneurs On Fire I had to find a good idea which would keep listeners around to the end.
  • So, I came up with the lightning round which was six incredibly quick, but insightful and important questions which would get 1 word or 1 sentence answers. My listeners knew it was coming and knew that it was super valuable, so they stuck around for it.
  • Number one, what are you going to do that’s creating a legitimate solution to an actual pain point in the world.
  • Number two, what are you going to do that’s unique and different and is going to keep people wanting more and telling their friends about it.
THE BEST STRATEGY FOR LAUNCHING A PODCAST IN 2019
  • I would just use the word ‘crypto’ in my title and it would immediately be one of the top podcasts – alright that’s a joke!
  • Every single media influencer who has any kind of a following, authority or a brand is launching a podcast. It’s a very busy world, it’s loud and it’s crowded.  
  • In 2012 when I launched a daily podcast that was enough to be different, it was enough to rise to the top and keep me as one of the top 10 ranked business podcasts for 5 years running.
  • But times are different now. Podcasting is literally everywhere.
  • How are you going to cut through the noise? It’s not going to be easy, you’re not going to do it by trying to have every single person listening to your show.
  • I love the phrase ‘love me or hate me because there’s no money in the middle’. If you’re not willing to be super polarising with your show, then you’re not going to win.
  • Stand for something that you truly believe in and that you’re passionate about and don’t be afraid of people hating you. It’s only going to work in your benefit.
HOW TO BUILD AN AUDIENCE FOR YOUR PODCAST
  • So, podcasting is the way to build the audience. That’s where you go to build your actual audience.
  • But again, you want to be really focused on the audience that you’re building. Go super niche and super focused and you’ll draw the right audience.
  • If you start off with something that’s niche, that’s super unique and powerful then you can get momentum from there and build from that.
THE BEST STRATEGIES FOR MONETISING A PODCAST
  • I think a lot of people go to sponsors right away when they think about monetising a podcast, which I honestly think is a huge mistake.
  • Because most podcasts aren’t going to have a large enough listenership within the first few years to really warrant the typical CPM (cost per thousand listens) model.
  • It’s typically $35 or $45 per thousand listens and it’s just not going to pay the bills with a small listenership.
  • I’m a much bigger believer in another way of getting sponsors on your show which is the CPA (cost per acquisition) model.
  • So, instead have that niche podcast that really creates a solution for an actual pain point that people are having and then go find companies that have products and services that help solve that same problem.
  • Then you can come up with a cost per acquisition deal with them instead where you bring them clients who will invest into their products and services and you receive a percentage commission from the sales.
  • Also, don’t forget about your own products and services. If you already have the solution to your audience’s pain point, then offer it to them!
HAVING A CALL TO ACTION ON YOUR PODCAST
  • The best call to action I’ve ever used (which is why we double down on it) is for a free course.
  • For instance, I wouldn’t want to funnel everybody who wants to podcast into my $1,000 per year podcasting course right away, instead I offer a free podcasting course.
  • If they really like podcasting after completing the free course, then they might want to step up into the paid course.
  • That’s the right way to do it. This way you take them through a funnel experience that will have them wanting to buy at the end.
John Lee Dumas Podcast Interview
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A book that you would recommend…
The Slight Edge by Jeff Olson

What is your top success habit?
My 90-minute morning routine which consists of exercise, meditation, journaling, sauna and reading a business book.

Who do you look up to?
Gary Vaynerchuk, I love his message.

What are your favourite apps right now?
Bonjoro is the best app out there in my opinion to connect with people who have just invested in you.

Here’s the big one…who do you like more, Rob or Kennedy?
Oh, I like Kennedy better!

Finally, where can folks go to find out more about you?
All the magic happens at EOFire.com I have free world class courses there for entrepreneurs, not to mention I love when people check my podcast out which is Entrepreneurs On Fire.

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