Lessons Learned from Building a Revenue-generating Podcast
• Jimmy Williams • June 18, 2021
A few years ago, I launched my podcast Live a Life By Design and its associated blog. I started the podcast because I wanted to reach more people and touch more lives than I could as a wealth manager. I wanted to help motivate people to be the best version of themselves and live more fulfilling lives.
I had a clear mission but, of course, I wanted to grow my business in the process. I can now attribute approximately $1 million in new AUM every month because of my podcast.
Building an audience can be hard. Whether you’re launching a blog, a podcast, a video series, or any other kind of audience-building marketing initiative, it takes time and a calculated strategy to succeed.
4 Essential Pieces of Advice for Starting Your Digital Marketing Initiative
For financial professionals out there hoping to start a similar project, there are a few things you need to know.
1. Give Yourself the Time and Space to Succeed
It took me a year to see the first client walk through the door because of my podcast. That’s 52 whole episodes. A lot of time and effort went into that first year. But I was building my audience, my reputation, my unique style, and creating a library of content that people could really connect with. It just takes time. There’s no way around it. Starting a blog or a podcast isn’t likely to open the floodgates and earn you a bunch of new clients at once. But if you do it right, you could be building something immensely valuable for your business in the long term.
2. Be Your Authentic Self
In the first few episodes of my podcast, I thought I needed to sound like a radio DJ to be taken seriously. I immediately got feedback that people wanted to listen to the Jimmy they already knew. So, I stopped trying to be something I’m not. I talked like I would to a client sitting across the desk from me. That’s when my podcast really started gaining traction because it was different from everything else that was out there.
People connect with authenticity, regardless of the subject. I’ve covered the tremendous benefits of forming mastermind groups. I’ve also covered my first colonoscopy experience. Whatever the format of your marketing efforts, it pays to be your authentic self because people will sense and reject fakeness.
3. Find How You Can Genuinely Help
If you’re just going to talk about finances, you’re competing with the giant custodians of the world and that is not a winning formula. Nor is it what people are interested in anyway. For me, I wanted to help people live a more fulfilling lifestyle, and one unique way I thought I could do that better than any other is by sharing ways people can better motivate themselves every day of their life. It’s something unique to me, something people need and would desire. I am genuinely there to help. If people sense that about you, and they gain something valuable from tuning into your podcast or blog, or video series, you are likely to build a loyal audience.
4. Be Honest with Your Audience
I never talk about my business. Nobody wants to listen to an ad. And like I said, people can detect fakeness from a mile away and they will not tune in if they think you’re out to help yourself or to sell something. Whatever you set out to do, stick to it and be honest with your viewers or readers. The business opportunities will come over time if you approach your work with the right focus.
Financial Planning and Marketing Go Hand in Hand
The planning and marketing processes really fit together well—my existing clients see tremendous value from the podcast. The podcast lets them hear from me more frequently. And since I’m talking about topics related to living a more fulfilling life, it really deepens our relationship as the stage is set for us to dive into these kinds of subjects.
Also, when clients come in for the semi-annual review, a lot of times they’ll ask about a particular episode of the podcast. I think it’s really important to address this if they’ve made a point to remember something and bring it up in our meeting. What’s really valuable about this is that it lets the client steer the relationship to areas they’re most concerned about. We’ll always cover the important financial information, but the client will direct the meeting so they always feel we’re taking care of what’s most important to them.
Attracting Higher Quality Prospects
People who come in and listen to the podcast already have an idea of who I am and are already sure they’d like to work with me as a person. In that way, the prospects I connect with through the podcast are usually more prepared to work with me.
They’re more comfortable starting the conversation at the deeper level because they’ve heard me talk about fulfillment-related topics. When a new client brings up the podcast, I ask “How did that make you feel?” That’s all it takes. From there we’re already deepening that relationship whereas if they had never heard the podcast and I was a complete stranger to them, they may not be as comfortable talking about these kinds of things.
Starting Your Own Digital Marketing Initiative
Building an audience can be hard, but it’s certainly possible for financial professionals that take an authentic, honest approach to genuinely help people through their content. When you can create demand for your marketing content, there are huge benefits to your existing clients and, over time, to the way in which you interact with new prospects.
Financial professionals who want to start creating their own content can heed this advice, knowing it will take some time to succeed, to augment their planning business in the long-term.
DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.
The views and opinions expressed by this blog post guest are solely those of the guest and do not necessarily reflect the opinions of eMoney Advisor, LLC. eMoney Advisor is not responsible for the content, views or opinions presented by our guest, nor may eMoney Advisor be held liable for any actions taken by you based on the content, views or opinions of the guest.
Registered Principal Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Jimmy J. Williams is an Investment Advisor Representative of Compass Capital Management, LLC, a Registered Investment Advisor. Cambridge and Compass Capital Management, LLC are not affiliated. 321 S. 3rd, Ste. 4, McAlester, OK 74501. Cambridge does not offer legal and tax advice. Please consult your legal and tax advisor for specific estate and income tax planning strategies.
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