So Brand Maven Kevin Skarritt and I sat in on two final sessions at PodCamp Boston 2, and both were about how to “monetize” new media - specifically, web series, podcasts, and video online.

The answers, according to Paul Kontonis, Chief Executive of For Your Imagination, are:

1. Advertising

2. Sponsorship

3. Licensing

4. Merchandising

5. Franchising

And according to John Federico of On Digital Media, the answer is advertising, but not really, because of a technical issue with iTunes that would make it hard for advertisers to trust any listener stats you report.

I respectfully submit that they’ve both missed a vital way to monetize audio and video - one that has nothing to do with advertising.

With a strong Content Strategy in place, any podcaster could structure a series of audio episodes with the intention of collecting and compiling a series of podcasts into an information product.

The podcaster could have the episodes transcribed to package with the audio, and after reviewing the whole series, it’s likely the podcaster would be inspired to create a few bonus items to naturally supplement the material he or she patiently created over the course of weeks, months, or years.

This awesome and highly useful package could be sold:

1. By the podcaster

2. By anyone else through an affiliate program

3. By any strategic partners of the podcaster (I’m looking forward to a session along this vein in tomorrow’s sessions)

4. Through a service like ClickBank or Commission Junction

And more ways I’m sure I could think of, had my sweet 21-day-old son not kept me up all last night.

How did Kontonis and Federico miss this one? Well, Kontonis’ clients are more entertainment-based by all appearances, and Federico is focused on metrics, an issue that’s bedeviled a lot of people trying to analyze the ROI of things like blogs, podcasts, and other non-traditional website offerings.

The way to monetize with information products relies on the concept of what we call “Dignity Marketing” - sharing your passion, knowledge, experience, and personality in a natural, educational, entertaining, and relationship-building way.

You, as the source of reliable information in your niche, are then top of mind when the buyer’s wallet comes out. Because the stark truth is that people don’t buy when you’re ready to sell - they only buy when they’re ready to buy.

If you’re thinking about starting a podcast, please take a moment to think a year ahead, and ask yourself: How can I create a Content Plan that multi-tasks the effort I put into doing these podcasts?

Posted in All About Content, How do you "A-Ha Yourself"?, Tools to "A-Ha Yourself!" |

This entry was posted on Saturday, October 27th, 2007 at 10:00 pm and is filed under All About Content, How do you "A-Ha Yourself"?, Tools to "A-Ha Yourself!". You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.