And what you can do to earn the trust of your audience to help you fund your show
We have said it before, and we will say it again – loyal podcast fans are your superpower. They are the most likely to spread the word about your show to others and are also the most likely to convert to being paid supporters of your feed. But… There are some obstacles that podcasts face when converting hordes of fans to paying subscribers. There are some simple (but very valid) reasons why someone might be more inclined to pay for a podcast subscription and we are here to explain them:
- Feeling a Sense of Belonging
Podcast fans love a community feel. Listeners want to feel like they belong to a group that makes sense for them and that shares their interests and values. The best way to connect with someone is to make them feel seen and valued and your paid subscriptions should do just that. Think about how you can give back to your people, not just podcast listeners as a whole. What do you listeners like? Why do they listen? Zero-in on very specific aspects of your show, read your reviews and act on them.
Who Does It Well? Answer Me This! does a great job at extending their brand to their bonus eps with Petty Problems which is an exclusive live stream for Patreon subscribers. Talk about knowing your audience!
- Feeling Appreciated
Even in the toughest times, people are inclined to keep subscribing to podcasts/streamers/communities that they feel give them a real value. Podcast listeners are generous, but you have to thank them for their generosity with real visibility. You can organise giveaways, subscriber-only shoutouts, thank your supporters publicly and even send them thank you gifts! Donations to your show matter so make sure to acknowledge your biggest fans.
Who Does It Well? RedHanded have always been ahead of the curve when it comes to subscriptions. Not only do you get weekly video versions of Under The Duvet for your subscription, but they also thank their fans in ways that feel very personal. Think: crochet patterns! Plus so many other digital products that are easy to download and use.
- Feeling that Your Subscription is a Secure Commitment
This might sound a little bit whacky, but a paid podcast subscription is a real commitment. No matter how much you are asking people to pay (even if it is £0.99/month!), people are more likely to keep paying that amount if you make the commitment to the subscription feel like a secure bet. Small actions lead to big results so keeping your existing paid subscribers happy is just as important as attracting new subscribers. You will need to keep the paid content consistent to keep everyone satisfied.
Who Does It Well? It would be remiss to talk about subs and not mention Goalhanger, who have around 45k paying subscribers for The Rest is History. That number really adds up when it comes to presenter revenues, earning them around £77k/month alongside advertising revenues (as reported by the Wall Street Journal).
- Feeling that They are Making an Impact
People are most likely to add your podcast to their paid subs list when they feel like they are going to make a difference. This comes down to transparency with your offering. Celebrate any milestones, share how each subscriber contributes to the overall success of the show, and even share goals that you want to reach with your subscribers too. People want to know what they are doing to help you and the more you can explain, the more likely they are to stick around and invite others to join them too.
Who Does It Well? The Bugle, one of the OG’s of podcasting, has a clear comms strategy – you (the subscriber) is the reason they exist. This is clear throughout their tiers and even the sub button simply reads ‘Keep Us Alive.’ Sometimes the simple solution is one of the best, just tell your subscribers that the impact they have means everything to the longevity of your podcast.
- Feeling FOMO
There is a fine line between encouraging your listeners to subscribe vs scaring them into your paid subs, and it is important to get that balance exactly right. People want to feel like they are getting an exclusive scoop, and the more your paid subscription can give a sense of that – the better. Of course you do not want to annoy any of your free loyal fans, so be careful to motivate your listeners without totally alienating them unless they are paying.
Who Does It Well? Wrestle Me! Is the best example of something free going behind a paywall and still doing well. This used to be a free show that now serves its exclusive 4,500 paying users on Patreon. If you are feeling FOMO, you might be right to and you better subscribe.
So what’s the bottom line?
All of these points come down to a single solution – communication. If you are struggling to convert people to your podcast’s paid subs, you are likely just not explaining your offer in a clear and convincing way. Think about The Guardian model for example – you are simply supporting their journalism! And it works. You don’t need to have a lot of added features for your paid subs, but you do need to have a comms strategy. Make sure you identify exactly what it is that the listeners will be getting with their subscription and make sure to communicate that everywhere they might come across a button to subscribe.ow.