Have you considered ‘exclusive’ podcasts?
Do you ever provide exclusive information to your market? Perhaps you want to give people member-only access to certain things. Well, did you know that you can do that with podcasts?
Podcast hosting platforms can offer restricted content access or “private feeds”. It allows you to provide episodes or playlists to authorised members only using a secure URL.
If you choose Omny Studio as your podcast hosting platform, members with access to the restricted feed can listen via the most popular apps, including Apple Podcasts, Google Podcasts and Castro.
This could be particularly beneficial if you offer some kind of online course or other offering you provide. It’s restricted or exclusive to those who have paid for the course, for instance.
Paid podcast subscriptions
Apple Podcasts has recently introduced a paid subscription model for podcasters. This is terrific for those who may have a large and established podcast audience, and are looking to cash in.
Hamish & Andy, one of Australia’s most-listened-to podcasts now offers a subscription model for its back catalogue.
Recent shows are still available, but for those hard-core fans, all the shows from previous years are available via subscription at $2.99 a month, or $29.95 a year.
Casefile is another popular Australian podcast which has taken advantage of Apple Podcast’s subscription tool. Subscribers gain access to ad-free, early and bonus episodes for $6.99 a month, or $69.99 a year.
It also allow listeners a free seven-day trial before subscription kicks in.
On an iPhone, the user simply clicks on the ‘subscribe’ button, and then is directed to subscribe, as they would purchasing an app.
Casefile still has its archive of podcasts available free, but the subscription model is ideal for those die-hard fans who can’t wait for the next episode, or who can’t stand those ads, or who want exclusive content.
interesting facts about Apple Podcasts subscriptions
Evidence suggests that launching a subscription grows the total audience number because it serves as a marketing campaign for the entire show.
Subscription listeners tend to share more.
When it comes to subscriptions, “early access” and “exclusive benefits” tend to perform better.
Free trials and discounted annual plans (rather than monthly plans) are more effective.
Among leading podcast creators, more than 10% of their listeners are subscribers.
How do you know if it’s right for you?
If you have a sizeable, regular podcast audience, (I’d say 1000+ per episode), why not give it a go? If you can convert 10% (that’s 100 listeners) into paid subscribers, at say $5 a month, that’s a nice $500 a month in your pocket.
If your business model is providing information – if you’re a thought leader or professional service provider – perhaps you can offer it from the get-go.
If you’re a member association, you could offer it as part of your CPD (continuing professional development) offering.
Things to consider
Bonus content doesn’t have to be full, separate episodes. It could mean extended interviews, or other informal Q&As with a special guest.
Think about publishing bonus content on a consistent schedule, so subscribers know exactly when to expect to have access.
Be sure to promote your subscription content on your free podcast.
You’ll need to plan well in advance what you are going to publish. If you’re haphazard at producing podcasts, then you’ll be in a world of hurt trying to fulfill your commercial obligations.
There are different subscription price tiers you can choose from.
There is as yet no payment model for one-off purchases.
Apple takes a cut of 30% of the subscription in the first year, then 15% each year thereafter.
Finally…
If offering exclusive content or a subscription model is something you want to learn more about, don’t hesitate to drop me a line. Contact Chris Ashmore Media today.