Podcasting vs YouTube... which makes me more money?

so my podcast is called work less earn more and pretty much the whole premise of it is figuring out which activities actually make your business the most money which tasks or projects or products make your business the most money and focusing on those and then letting go of other things crossing other things off stopping selling other products so that you can earn the most with the least amount of time and effort work less earn more so with that you would think that since i'm doing youtube and i'm doing the podcast i would have at this point in time figured out which one makes me more money and not keep doing both of them because both of them as i'm sure you know are fairly time consuming i spend up to about 20 hours per month producing my youtube videos and then another 10 plus hours every month producing podcast episodes so two things one is why am i still doing both of them and the other thing is which one actually does make me more money that's what we're gonna tackle in today's video [Music] so first let me explain how each of these two things earns me money youtube i make money from the ads that run on my channel and i make 50 of the ad revenue that the channel generates from those ads and then i also make some money from affiliate marketing where i'm promoting other people's products and then the bulk of the money comes from promoting my own products and attracting customers to my business for the products that my business sells and then on the other hand we've got the podcast which pretty much exclusively makes money by attracting customers for my products i don't really do any affiliate marketing and i don't have sponsors on my podcast those are certainly viable ways to make money with a podcast but i don't choose to do them because those are strategies that i've determined that at least for my business earn me less money for the effort that they would require and so they're not really work less earn more friendly so i'm just focusing in on the thing that is going to earn me the very most as far as the numbers go and maybe this is the only thing you came to this video for but even after you hear how much each of these two different activities earns me i would recommend you keep on watching to find out why i keep doing both of them even though one makes me definitely more money um but as far as the numbers go the podcast earns me way less than youtube the podcast first of all gets fewer views listens than youtube gets so there's just less traffic there and then i see fairly similar conversion rates on the podcast in youtube if anything the conversion rates are a little higher over on the podcast but the traffic over there is less than a quarter what it is here on youtube and so it's just ends up being a much smaller number of customers and then also the only money i'm earning there is from the customers that purchase my product so i'm not earning any money at all from ads like i do on youtube and like i said i don't do sponsorships and i don't do affiliate marketing so it's just the sales of my own products and so what that means is over on youtube because i have more than four times as much traffic i earn about four times as much money just from the product sales so for example if in one month the podcast generates say four thousand dollars in product sales youtube probably generated around sixteen thousand dollars in product sales that same month and then on top of that youtube is paying me five six seven thousand dollars a month in ad revenue and another about a thousand dollars every month from affiliate marketing so in the average month i would say youtube is earning me twenty to thirty thousand dollars directly and the podcast might be earning me only about four thousand and so now i think you can see why it's such a big question why do i keep podcasting when it takes 10 plus hours of my time every month and earned me relatively so little so in order to understand this you're going to need to understand the basics of a sales funnel aka the customer's journey so with a sales funnel it's shaped like this up here at the top you've got your traffic coming in you might have multiple traffic sources and then in the middle here you need to build relationships and nurture your leads so that you can potentially turn them into customers paying customers and then down here at the bottom you need to direct them to purchase your product so that at the end here you can in fact make that sale so pretty simple there are lots of nuances lots of variations now if youtube and the podcast were just two of my traffic sources and over here you've got youtube and it's generating that 20 30 000 a month from the customers that come all the way down from youtube and then here you've got the podcast and it's generating just 4 000 per month from the people who come down from the podcast then clearly i should focus my efforts on just youtube and stop wasting my time on the podcast but that's actually not what happens at all let me erase this and show you what's really happening okay so in my business here's how the funnel works at the top we've got our traffic sources and youtube is one of those traffic sources in fact it's our main traffic source we've also got a few others like ads and google traffic okay so those are the things that are sending people in the top and then the podcast itself is actually right here the podcast is an essential piece for building relationships with these potential customers for warming them up and teaching them educating them about how to solve their problem and how my products can help them solve their problems and can help get them the results that they want so this is really where we build trust and we have that education piece and that helps us to eventually make that final sale now i've written podcast filling up this entire space here in the middle there are other things i do as well i also use instagram in a similar way and email marketing is the most important component of that but the podcast plays a key role so it's not about youtube versus the podcast it's a system that works together a ton of traffic comes from youtube and then a lot of those people who are going to potentially become customers go to the podcast to learn more to get more familiar with me to trust me more to see me as more of a teacher and a leader and then eventually some of those people go on to make that sale so if i were to completely eliminate the podcast it wouldn't just be cutting out those four thousand dollars roughly of revenue it would be significantly reducing the amount of revenue that youtube actually generates and that is why i keep doing both of them if you're trying to come up with a content marketing strategy for your business you might be debating between should i use youtube or should i write blog posts or have a podcast you might even be considering things like instagram or twitter as part of your content marketing strategy and you might have heard my advice in the past to focus on one of these platforms so then you're trying to figure out which of these is the best or at least would be best for you but the important thing you need to consider here is how the different platforms that you use are going to work together you need to make sure you have a strategy for how all of these different things will interact with each other and what that customer journey overall looks like because otherwise you might just have different platforms that are competing with each other you might just be spreading yourself too thin trying to get traffic from a bunch of different sources but not doing anything to nurture the leads that you generate or actually guide people to purchasing your products so we need to have a path rather than just a whole bunch of different things that we're doing it needs to be systematic and strategic that's actually exactly what i teach in startup society my membership program for online business owners if you happen to be an online business owner yourself and you want to learn more about how to create these systems and get more strategic with your online business so that you can grow it more quickly and most importantly so you can start earning more while working less then i would love to have you join startup society sometime soon we are about to open the doors to our next class of students right now what you can do is you can learn more about startup society and decide if it would be right for you and you can join the waitlist so that you find out when we do open the doors there's a link in the description to startupsociety.com where you can go to learn more about how to join the program and start working together with this community of online entrepreneurs that we've built so that you can get the support and the guidance that comes along with membership i hope that you found today's episode really helpful and interesting and that you better understand now why i continue to do youtube and also have the podcast and that that gave you some insight into how you might work on your own content marketing strategy and overall the main takeaway i hope you had from this video is that your content marketing strategy needs to be more of a system more of a journey for your customers rather than just random different places on the internet where you talk to random people i hope you enjoyed this video if so give it a like to let me know or a dislike if you didn't prefer it because i always appreciate your feedback and thanks for joining me for today's video i look forward to seeing you next week for another one until then stay focused and keep on taking action

Channel: Gillian Perkins

Views: 16,890

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Id: vWt0AJnsZ54

Length: 10min 16sec (616 seconds)

Published: Tue Nov 23 2021