How Do I Know If My Podcast Is Ready to Be Sold?
At some point in your podcasting journey, you might be ready to throw in the towel. But, since you put in so much work, you don’t just want to end the show with nothing to show for it.
Enter The Podcast Broker - your answer to cashing in on all of the hard work you’ve put into your show by selling your podcast rather than letting it fade away. The question is, how do you know if your podcast is ready to be sold?
In this post, we’ll explore what you need to know about selling a podcast. Let’s dive in!
The first step is to ask yourself a few important questions. These include:
Does my podcast have an established audience? For a podcast to be sellable, it needs to be geared towards a specific audience. And, it needs to have at least a thousand regular listeners. Then again, the more regular listeners, the better and the more you will be able to sell your podcast for.
Why 1,000 listeners? As podcasting pro Pat Flynn shared in his book Superfans, 1,000 true, loyal fans is the key to a six figure business.
If your audience is more broad (i.e. not specific to a niche), you will need at least 2,000 downloads per month to be considered sell-worthy.
Does my podcast have marketable assets? For example, do you have unique cover art that perhaps you’re using for selling “merch” or that could be repurposed to sell as merchandise on t-shirts, coffee mugs, journals, etc…? Do you have an active newsletter for your fan base? Perhaps a website with high engagement and a social media following? These assets are all key attraction points to a buyer considering the purchase of a podcast.
Is your podcast branded after you or is it branded around a niche? The reason this question is so important is it’s much harder to sell a show titled after the host. For example, the Jim Smith show being sold to anyone who is not named Jim Smith will make it more difficult for your audience to accept the transition.
What Does it Take to Position a Podcast for Sellability?
There are a few key things buyers will be looking for in a podcast that they are considering purchasing. These include, but aren’t limited to:
Clever content - Your skill with words is the key to whether or not listeners will show up, and whether or not it will gain popularity. The most popular podcasts have a skillful combination of flair, humor, and prose that draws people in.
Sometimes it’s the host or a group of hosts, other times it’s the delivery of the content. What is it about your content that draws your listeners to you? You need to be able to answer this to a potential buyer.
Brand recognition - Do people recognize your podcast as a distinctive show? Or are you just like everyone else? You need a bit of uniqueness to catch the eye of people.
Ratings - We mentioned a moment ago that you need at least 2,000 downloads monthly, but ratings also matter. Buyers want shows that have happy listeners, so if you have good ratings, you’re much more attractive than a show that has bad ratings or no ratings.
How to Find Out if Your Podcast is Sale-Ready
If you would like to find out how much your blog is worth, we recommend signing up for a free podcast evaluation. Click here and fill out a short form, and we’ll let you know a baseline price your podcast could be sold for. It might be more than you think, and it could inspire you to get it in sales-ready shape!
