E12: How to Grow Your Business with Podcasting: Interview with Lené Hypolite.
Today's episode is very exciting for me because my guest Lené Hipolite was very instrumental in helping me launch my podcast! She is the founder of the hit podcast ‘The Goal Standard Podcast’ and creator of the ‘Podcast To Purpose’ mentor course. Lené has been featured on HuffPost, Black Enterprise, Travel Noire, and 21Ninety.
While COVID-19 has us staying at home, it is a great time to educate ourselves, organize our processes, and work through anything needed to move forward. But it's also a good time to pause and take a break if needed ,so always listen to your body and your internal voice and practice good self care. Lené is spending her quarantine time optimizing her product flows, researching, finding guests for her podcasts, and learning new skills.
Why podcasting?
Let’s say your target audience are busy Millennials who want instant and constant consumption of information. Podcasts have a lot more reach because one can listen while working out, driving, grocery shopping, doing yard work...almost anywhere and anytime! Podcasting doesn't require makeup and hair styling like a video or time spent writing like a blog requires. It's a quick way to get information to a large audience. Blogging and YouTube are valuable resources, just a different way to get your message across.
The first thing to do when considering setting up a podcast
The first thing is determine your topic. It needs to be something you can talk about long term, something for which you could already come up with fifty episode topics! Find your niche, your area of expertise in a specialized part of the topic. So if the topic is Fitness, the niche could be losing weight, bodybuilding, or nutrition.
Actionable tactics to build a better brand when podcasting
Consistency is number one! One must commit to releasing episodes weekly or biweekly, committing to posting, and so on. Second, figure out who your target audience is, identify your tribe. Then figure out where your tribe gets their information and what are some of the issues they need solved. Research others in your niche who are providing valuable content and then make it your own, solve those problems in your unique way. It doesn't always have to solve a problem, it could be providing an informative and pleasurable distraction.
Five ways to monetize your podcast
Podcasting is a microphone to your whole brand and there are more ways to monetize than just sponsorships.
First are digital products; package your knowledge and experience into something you can sell online such as a downloadable e-book, nutrition guide, or calendar.
Second is an online event like a virtual summit, virtual work-out class, or online course. A membership to an event or class you offer consistently can give you recurring income.
A third option is in-person events like brunches, conferences, or retreats where people can escape and connect with like-minded people.
Fourth is merchandise like tee shirts, hats, and bags. Using a tagline on merchandise is beneficial because people tend to be able to identify better with a tagline rather than the podcast name.
Lastly, individual or business consulting is a great way to monetize your brand.
Strategies to grow your online community
Again, consistency! Share your podcast episodes. Ask questions to engage your audience on social media like Instagram. Send a weekly email to encourage and inspire your audience. And get the right guests on your podcast. There are three kinds of guests - one that everyone knows, one that is semi-established but still needs to grow their own audience, and one that is unknown. If you're in a growth phase of podcasting, getting a guest everyone knows is great for engaging your existing audience and getting your podcast noticed. But a guest like that already has an established, large audience so they won't be sharing the episode and promoting your show for you. Getting a semi-known guest who is still growing their own audience will share the episode or a screenshot of you guys talking. This enables you to leverage their audience, too! And don't discount an unknown guest because if they have an impactful story or are full of great knowledge, it draws in and solidifies your current audience. Retention, as well as growth, is very important. Aim for 60% semi-established guests, 20% well known guests, and 20% quality unknown guests. The majority of your guests will then bring their audience to you as well as share and promote your interview so you can capture their audience.
An important thing you should know before you start podcasting
It's very important to trademark your overall brand name so that you are free to use it in branding or as the podcast name. It's important to educate yourself on the legal aspects of your business so that you can protect your work as you launch it.
What can help you most in your podcasting journey
Go to the experts in your niche and see what they are doing and how they're doing it. Take a podcasting course, watch tutorials and videos, and research what successful people in your area of expertise are doing. Then emulate them in your own unique way.
Be sure to listen to the end of the podcast to hear Lené's answers to a lightning-round of random questions! She's got some really fun answers!
Connect with Lené!
Checkout her website: The Goal Standard
On Instagram: @goalstandard_
Learn about her course: Podcast to Purpose