Losing Money on Every Transaction
I have a friend I’ve known since we were kids. He’s a “wheeler dealer” type and probably had bought and sold five or six different cars by the time we graduated high school.
I’m pretty sure he lost money on every transaction.
Over 30 years later, he’s still doing it. Every time I see him, he’s in a different car.
But it’s a hobby, and he enjoys it—he feels good driving around in the latest model.
Podcasters often do the same thing, changing up podcast titles, switching focus from one topic to another, and constantly rebranding their show.
Is this you? If so, you too may lose on every transaction.
It’s easy to get caught up in a cycle of constantly chasing trends and trying to appeal to the latest fad. Yes, there’s sometimes an initial jolt that happens when you switch focus or change your show's name, which may get you a few new listeners and increase your revenue. However, if constant change is your overall approach, you’ll lose in the long run.
Building a loyal audience takes time and consistency. By frequently changing your podcast's focus or rebranding, you risk alienating existing listeners who were drawn to your original content. It’s frustrating for fans to follow a show only to have it suddenly shift gears with no warning.
Constantly changing topics makes it difficult for podcasters to establish themselves as experts in a particular field. It takes time and effort to build credibility and a reputation within a niche audience. By jumping from one topic to another, you may struggle to gain the trust and loyalty of listeners who are looking for consistent and reliable information.
Rebranding a podcast can be a costly endeavor. It involves redesigning logos, updating promotional materials, and marketing the new brand to attract attention. These expenses can quickly add up, especially if the changes don't lead to a significant increase in listenership or revenue.
While it's essential for podcasters to adapt and strengthen their content over time, it's crucial to do so strategically and with a clear understanding of your target audience. Instead of constantly chasing trends, focus on delivering valuable and engaging content consistently.
It’s OK to change direction in podcasting, but find a balance between personal enjoyment and financial sustainability to ensure a successful journey.