In episode #697, Eric and Neil discuss why they spend so much money on this podcast. Tune in to hear why giving something away for free can be a good idea.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: Why We Spent $46,452 on Marketing School
- [00:42] Eric and Neil enjoy doing this podcast.
- [01:15] They struggled with quality and methods at first, but eventually found their stride.
- [01:21] Now, they spend money on intro and outro music, editing, studio time, etc.
- [01:40] Ads and hosting are another expense.
- [02:05] Neil doesn’t like spending money if he doesn’t have to.
- [02:49] Eric thinks he has made at least $100,000 from producing this podcast, while Neil thinks he has made $0.
- [03:22] Neil does the podcast because he believes in the “rule of seven”.
- [03:40] The podcast is one of the seven touchpoints he uses to remain top-of-mind.
- [04:20] Marketing is going to get harder and harder, so having multiple touchpoints is important.
- [05:00] Eric and Neil could make more money monetizing the podcast, but they have decided it’s more beneficial to keep it free.
- [05:15] This podcast was on the Entrepreneur Network, but they didn’t want to read ads during the show, so they got booted.
- [05:50] Conservatively, they could be making $200,000/year off the podcast alone.
- [06:10] They believe you should do things for free as long as you enjoy it and something good comes from it.
- [06:50] They are playing the long game.
- [07:10] Sometimes, they get great ideas while working on the podcasts the end up making them money.
- [07:50] That’s it for today!
- [07:53] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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