How to Bake a Profit Cake with Podcast Guesting and Marketing Flywheel

by | Jan 30, 2024

Episode description
Today your host, Dustin Riechmann, unveils the secrets of profitable podcast guesting. He gives a look into a unique framework, emphasizing the 'profit' aspect and illustrating how podcast appearances can significantly benefit businesses. Dustin uses engaging examples and practical strategies to explain the 'Profit Cake' concept and the 'Podcast Guesting Marketing Flywheel,' offering listeners a comprehensive guide on transforming guest appearances into lucrative business opportunities. The episode is a must-listen for anyone looking to leverage the power of podcasts for business growth and networking.
Timestamps

00:00:00 - Kickoff: Unveiling the Secrets of Profitable Podcast Guesting
00:00:53 - Core Concept: Exploring the 'Profit Cake' in Podcast Guesting
00:04:22 - Strategy in Action: Practical Applications of the Profit Cake in the Real World
00:09:57 - Next-Level Strategies: Introducing the Podcast Guesting Marketing Flywheel
00:13:26 - Practical Implementation: How to Apply the Podcast Guesting Marketing Flywheel
00:14:52 - Exclusive Opportunity: Invitation to Join the Podcast Profits Accelerator
00:15:22 - Wrapping Up: Concluding Insights and Final Takeaways

Dustin Riechmann
7 Figure Leap
YouTube
LinkedIn

 

Episode transcript

Dustin: Welcome back. I want to pick up today on this discussion or this teaching around profitable podcast guesting. So in a previous episode, I went over the five P's of our profitable podcast guesting framework and unpacked the process by which we ensure that the system we're building will be effective at meeting our business objectives through podcast guesting and other partnerships.

Dustin: Today, what I'd like to talk about is So The profit side of that, or the fifth P, which is profit and talk about two key concepts. I'm going to attempt to do this , without visuals, in case you're listening to the audio version of this podcast. I do have visuals that have been created for an upcoming presentation.

Dustin: I'm giving a traffic and conversion summit and again at podfest. Uh, so if you do want copies of these visuals, just reach out to us so you can contact us. Through seven figure leap. com, or you can find me on LinkedIn as well. I'm happy to share these visuals, but the first is a profit cake. And the third is a podcast guesting marketing flywheel.

Dustin: Okay. So these are both their concepts, but they're extremely practical and. Uh, applicable, and this is a big part of what we implement with people as part of our accelerator program. So the profit cake is called a cake for reasons. It's it makes a nice analogy here. The base layer of the cake, if you can imagine, is the widest.

Dustin: But it's also the, the shallowest, right? It's not a lot of depth there. That base layer, when we think of the profit centers that come out of podcast guessing, that's the listeners, you probably think, Hey, if I get on a podcast, some of those listeners might want to buy my stuff and I'll make money from it.

Dustin: And that is a hundred percent true. However, that's actually the least. Depth, right? This is the least profitable, even though there's the most listeners. It's the widest part per listener. There's not like a ton of profit there, right? It's, and most people are going to remain invisible to you. And then those that do step forward, some will make it through and, and end up wanting to purchase from your business, but it is the foundation.

Dustin: We have to address it we want to always be serving the listeners first and foremost, but we just, we don't want to hang our hat on making. A lot of monetization from that layer directly on top of that layer to in this three layer cake are peer to peer relationships. So this is getting narrower.

Dustin: There are fewer of these, but they're, it gets deeper, like any given peer to peer relationship can actually change your whole business. It could change your whole life. I have countless examples of my own journey, just to throw out a few quick, examples, a peer to peer relationship, meaning someone listening who's not necessarily like.

Dustin: but they're a, a referral partner, a collaborator, an influencer. they're these types of people that operate at a peer level, but they can be huge referral relationships, et cetera. So for me, it was a listener who is a peer, not a, not a. Not a consumer for fire, freak snacks, who set in motion, a series of relationships that got us into Walmart.

Dustin: For example, it was a peer who is, was the host. [00:03:00] In this case, the host is always a key peer relationship. We want to nurture the host of one of the shows I was on, had. Decision control and got us featured in snack nation, which is the largest subscription box company in the United States for that fire Creek snacks brand.

Dustin: you know my story, I have a physical products brand that I was a partner in, and that was a 550, 000 annual purchase order, literally from being on a podcast and the host was the VP of this company. So that would be a great peer example, but that's the middle of the cake. And at the very top of the cake, much the narrowest of all, there's very few of these, but relatively speaking, but very deep because they're predictably very profitable or high ticket prospects.

Dustin: So these are like. You're warm, high quality leads. If you sell high ticket services, for example. So if you sell, ad agency services or you run masterminds or coaching or consulting, we cultivate this third layer and we enter them into our sales process. And they are very predictably, very profitable, right?

Dustin: If [00:04:00] you sell a 5, 000 service, like one of these individuals could be worth 5, 000, Plus, cause there's a lifetime value, to this as well. So I will, be happy in future episodes to go through specific examples of all three layers of this cake. for today, I would just give you one quick example, and that would be, you have to paint a picture here in your mind.

Dustin: So, and this is an actual client example of mine. So imagine you're a Facebook ads agency. So you're an expert, you run Facebook ads, and you have this very specific vertical you work in for food brands that run on Shopify, right? So like e commerce food brands, like fire creek snacks, they operate on Shopify, but you're a Facebook ads expert that serves them.

Dustin: So there's a real podcast that I've been on called the Shopify podcast. It's called Shopify masters actually. And so imagine you're this person and we'll call him Andy because he's a real client. And this is really a strategy that we use. I'm going to go through a quick example of all three layers and how he would accomplish this full cake [00:05:00] in one episode, right?

Dustin: In one interview. So at layer one, almost all that he does in the episodes can be directed at serving the audience. He's going to be teaching the audience, something should be case studies, his secret sauce around Facebook ads, what's working now, that sort of content. And, and his own story and store and emotional stories that tie to that and client wins and things like that.

Dustin: So when he's doing that, At the end, of course, I'll have a call to action and it will compel those listeners to come enter his world, right? So it could be come get a free Facebook ads audit. It could be come get our top performing ads for food brands this year and people opt in and they'll get on their email list.

Dustin: So that's level one and that's, we should all do that. That's the baseline level. And that, that does get you clients because some of those people would be potential clients and they're going to come get into the sales process through the email newsletter. And that's great, but a very subtle thing, the same in the same interview, it could take 10 seconds.

Dustin: He could say, Oh, I want to, I want to share this strategy with you, but I just want to reiterate, we only do [00:06:00] Facebook ads. if there's anyone listening here that works with similar brands as us. And if you do likeGoogle ads or, SEO or content or social media, please reach out to me. Please reach out to me.

Dustin: My contact information is in the show notes. You can, you can get it through our website, but I have referrals for you, right? And so now you're calling out to your peers. That's like a level two. strategy where you're calling out the referral partners in the interview. And then level three, one of many strategies we can employ level three is okay, how do I get direct, pipeline activity from this podcast?

Dustin: Meaning I have a. Facebook ads agency, we have our sales process. How do I get people in that, that I know are high quality, who are qualified and who actually want to be in the process, right? This is not cold prospecting. So a simple strategy that works like gold is to look at the guest list. So this is all the other people that have been interviewed on the same podcast in the past.

Dustin: And in the future, this is an [00:07:00] evergreen process, right? Like they're going to continue to interview people. So we want to look in there and see. Hey, which food brand owners have been interviewed talking about the success of their company on this e commerce show? It turns out there's a lot of them and on this specific show, and I, a slide, I'm, I'm using the traffic and conversion.

Dustin: I show the real podcast episodes, but just imagine there's. I got four examples here. These are four founders of food companies that are very successful and they've been featured and interviewed on this podcast. and you can do this in different formats. I like LinkedIn cause I'm a fan of LinkedIn and very active there.

Dustin: I would simply go and find these four people on LinkedIn. I would connect with them. So like Michael here has a. coffee company, Hey, Michael, I saw you were interviewed on Shopify masters. Congratulations on all your success. I was recently interviewed there myself. I'd love to connect. Like almost everyone's going to connect to that message because you're like in the cool kids club together.

Dustin: Like you're both interviewed. You're both featured experts on a show. You respect [00:08:00] as you effectively borrow the credibility of the show and the host and the authority, and they're going to say, yes. And now you have them as a warm, highly qualified prospect, because, you know,you can see their show, you can even listen to it if you wanted to, but you can see their show, you can see what they do, you can see what they offer, you know,they're likely as like numbers in the show notes, oh, they, we did 10 million last year, that sort of thing.

Dustin: So, you know, they're qualified and it's, and they're much warmer than just a cold outreach because you've, again, you've got this connection through the podcast. So once they connect with me on LinkedIn in this scenario. Then I would start my sales process and I'm a huge, one of my values is always to give first and to serve first.

Dustin: And so I would be looking at this, like, how could I serve this, this person? How can I help Michael? And so in this scenario, I would probably go look at this Facebook ads account, which is publicly available. And I would say, Hey, Michael, I couldn't help myself. This is what we do. I took a look at your ads account.

Dustin: Here's three tips that, I would try this headline. We've been using this carousel ad and it's been converting really well, whatever your, your secret sauce is. Yeah. Will he for [00:09:00] sure be a client? Not for sure, but I think you got a much better chance than you did. Because now you connected, you've got credibility and you've led with value.

Dustin: And so now it could very much be like, that's super helpful. Dustin, or Andy, in this case, that's super helpful. How, tell me more, tell me more about how you guys work or let's have a call or, do you guys offer audits? We're actually looking for some help in this area. and the other cool thing about this is.

Dustin: Yeah. This type of person, Michael, in this scenario, this food founder, he knows a lot of other food founders. And so even if he's not ready for a new Facebook ads strategy, one of his buddies might be. So that's a quick example of all three layers of the cake, all happening from one interview. So if you land the right types of interviews, which of course were very strategic about selecting in advance, You could literally fill your sales pipeline, but just a few really high quality interviews.

Dustin: So that's the traffic cake. So that's like concept one today. I wanted to really over deliver here and go through two major concepts. The second one's quicker though. so the overall premise here, I want to educate you a little [00:10:00] bit in case this isn't a familiar term is a profitable podcast guesting flywheel.

Dustin: Okay, and a flywheel if you're not familiar is you think about a well or it's really like a spinning motor Potter's wheel would be a flywheel The idea is like these things take some effort to get the momentum going you have to really put put a lot of energy In but once they get going they become a self perpetuating machine and with a flywheel every time it turns it turns easier And it produces more energy than the term before.

Dustin: So that's what we're building is like a self perpetuating marketing flywheel. And we feed that with podcast guesting. So again, if you, if you could see my visual, again, hit me up on LinkedIn or through our website and happy

Dustin: And I was gonna walk you through an order. So the first thing we're going to do is share our expertise in a podcast interview. the energy. That's what we're feeding into this flywheel to get it started. And then you can imagine going around. [00:11:00] The wheel, all the ways that your business is going to benefit from that interview.

Dustin: So the first thing is it grows your email list, right? We're doing the layer one stuff. So we're growing our email list by inviting people over with a compelling call to action. The second thing it does is generate sales. It also generates not only immediate sales from like, people. Hearing like, I want to be in your world and buy stuff from you, but it's also podcasts are beautiful because they're a long tail.

Dustin: they exist on YouTube in many cases too. And so like literally for years, you can continue to get value from doing one interview. So sales is a very important part of this beyond that, but the actual biggest value is actually beyond the sales and that's relationship building. So you're building a relationship with the host.

Dustin: And then you're also building a relationship through the guest list, as I just described, and I only gave you a 10th of what we do with the guest list, but, just, you get a flavor for, for the value there. So you've got relationships with the host relationships with all the people on the guest list.

Dustin: And we've already talked about the relationship you have with the audience. Then this is like one of the best ways to produce original [00:12:00] content because it can be repurposed. In the many different forms, right? There's agencies, there's AI tools, there's, there's lots of opportunities. So you do one long form educational interview and it can be made into tons of video clips, audio clips, any kind of, any kind of social media content you might want a great email newsletter, content, LinkedIn posts, so you can generate a ton of fresh content from these interviews.

Dustin: Which feeds into the seventh box here, which is authority. It grows your authority. You've grown your authority through audience building, host relationship, guest list relationship, and content. And so what happens when you grow your authority, you're back where you started on the wheel to podcast interviews, except now because you've made this rotation, you, it makes it easier to get on larger podcast opportunities.

Dustin: And this is how it becomes self perpetuating, right? So you do an interview, it grows your email list. It grows sales. You grow a relationship with the host. You grow a relationship with the guest list. You generate more content. This grows your authority, which makes it easier to get on the next podcast.

Dustin: And so, [00:13:00] again, every turn around this wheel is easier. Like you, eventually you get to where I'm at. I don't do any really like pitching. I don't really need cold outreach. It becomes inbound because you become known for something and you become a true authority in your space. So it becomes really easy.

Dustin: and it becomes more and more effective because now you're on larger shows with larger audiences and more influential hosts and really powerful guest list. So you can see hopefully the momentum that builds with this. And so what we do and what we help people do with our accelerator program, the podcast profits accelerator.

Dustin: Is we build this flywheel with you. And so whether you've done 50 interviews, not met any money, or you've done a couple or you've done none, it doesn't matter. We will come in and we will make use of the assets that you have, and we will create this so that this literally becomes the engine, the flywheel that fuels the growth of your business.

Dustin: So I hope those two concepts are really helpful for you to think about going deeper with this idea of. What I always say is podcast [00:14:00] guesting, which is really analogous for any kind of content partnership, right? Podcast guesting is a wonderful vehicle, but you can, you can use this in many different ways.

Dustin: you can think about webinars, speaking from stages, like lunch and learns in person events. It doesn't really matter. The format podcast guesting is the one I usually stick to because it's people get it, but the three layer cake applies for all those scenarios. And if you do it right and you set it up.

Dustin: in the way that we, have proven work so well, you can create this flywheel effect. So if you're the type of person who loves to teach and you love to be interviewed and it's something that, man, if I could just like. Be interviewed about the stuff I love to already talk about and that's the fuel for my marketing.

Dustin: How awesome would that be? Well, that's what we do. That's the entire, it's the entire mission here with seven figure leap and the work that we do in the podcast profits accelerator. So if that's of interest to you and you just want to unpack this, you want to know more about how this would apply to your business specifically, I would definitely invite [00:15:00] you to simply go to seven figure leap.

Dustin: com. you're going to see button there that says schedule a consultation. It's free. No risk consultation. You're going to talk with someone who's an expert at this, and they're going to talk specifically about how we can apply this to your business. And then you can make an informed choice, whether, maybe entering one of our accelerator programs or, or some of the other things that we offer makes good sense for you.

Dustin: But, thank you so much for letting me unpack this. I hope you can hear I'm passionate about this. I've seen it change so many lives and we're up to nearly 70 alumni in the podcast profits accelerator and the impact that that's having in the world to empower these experts to. Not only do great interviews, but do them in a way that fuels the growth of their business and lets them have a bigger impact.

Dustin: That's what this is all about. That's, that's how we create seven figure leaps. So we will see you on the next episode. and in the meantime, don't forget to go to seven, bigger leap. com. Grab a free consultation and let's, let's see what we can do for your business.

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