How To Interview Authors and Monetize Your Podcast Without Haggling
I wanted to share with you something that I have been using in my podcasting to monetize my podcast. I was talking with a group on a Mastermind and this subject came up. And when I explained this simple hack that I use when interviewing authors about their books, I was asked if I had shared this with YOU, my listeners.
And, when I realized I had not, well – here is the information I shared with the Mastermind group.
Some of you may have tried to negotiate an affiliate fee with an author you were interviewing. You were talking about THEIR book on YOUR program to YOUR audience. It just makes sense that you should receive something in return from the interviewee.
But a lot of times, that can be a very sensitive area. Some authors are not set up for tracking affiliate sales. They may be leery of paying the right amount – or anything like that. They are not comfortable with the whole process. They may feel pressured by you thinking you are only going to promote the podcast interview IF they agree to this…
It just opens up an entire Pandora’s Box of possible feelings, etc.
So, what I do for authors, I don’t even bring it up.
Yup, that’s right. I do not even go down that path of discussion. But I still get my affiliate commission if someone purchases their book through the link on my show notes.
Well, How do you do that?
I’m so glad you asked!
If they are an author and they are trying to sell their book, they have one of two ways to do so. They can sell it themselves ONLY through their own website. They probably do not get much traction unless they have a HUGE fan base. The other option is to use a large, well known, online retailer who invented online book sales. Namely, AMAZON. Yes, there are some other ones out their they can use. But, for example, if they are on Barnes and Noble (as I am also), they are also probably going to be listed on Amazon as well.
So, I have set myself up as an Affiliate on Amazon. What does that do. Well, I can promote just about any product I want on Amazon and if someone makes a sale through my link, I get a commission. Not just books, but just about anything Amazon sells. Probably 90%.
But, what I’m talking about today, is monetizing your podcast when you interview authors. By listing their products on Amazon, they have already agreed, in the fine print of the terms of service, you know, those pages NOBODY ever reads. You just click OK. Well, you agree to let Amazon deduct their fees from your sales price of your product or book. Part of that is an affiliate fee. That is what you will receive.
Yes, you may earn more with a direct affiliate commission from the author, but then you are put into the position we talked about in the opening. To avoid all of that, I just accept a lower rate, but I do this with just about every author I interview.
Amazon pays two months behind the end of the month in which the sale is made. So do not think you will be getting huge checks in the mail after interviewing a popular author. You will earn some money. But remember, this is just another revenue stream. It should be ONE of MANY!
I have been doing this for several years and I receive a between $150-$200 per month, just about every month, from Amazon. It is NOT going to be my main source of income. But over the course of three years or so, it IS a source of reliable, steady, ADDITIONAL income that allows me to do some things that I may not have been able to do for the podcast and ministry, etc.
First, you need to have an Amazon Affiliate account. If you do not have one yet, then that is your first step. It is free to set up and everyone can have one. All you have to do is apply.
Whoever your author is, find their book on Amazon.
Once you find it, click on it so it opens up into its own page, like you were going to see what it is all about and buy it. Then, up in the top left corner, where it says, “Amazon Associate Site Stripe,” next to that you can see where it says, “get link.” You can get the link and image or just the text link. It is up to you which you use. Click on it, copy the link and then go to your show notes.
I usually will type out the name of the book, use the link function and set up the hyperlink to my affiliate link and BAM, I’m done.
In the podcast interview, as I am wrapping up, I pump the book for the author and urge everyone to “go to the show notes down below and click the link. It will take you directly to Amazon and you can purchase the book right there.” That is all I say. Their price stays the same. It does not cost them anymore or any less. But if they purchase the book, I get a small affiliate commission.
Easy. No negotiation. Not haggling. The author doesn’t feel like I’m pressuring them. They sell a book. I get a commission. The podcast is generating income. Everyone is happy.
If you have a podcasting question, send it along to me. You can leave your questions in the comments section below. But a better way of communicating with me and making sure I am able to see your questions rapidly is by using the contact form on my website. Go to https://podcast-training.com/contact and click on the contact tab. Fill out the form and be sure to send me your questions.
Be sure to subscribe to this podcast so you can be notified every time we release a new episode and answer someone’s question!
If you would like to view the YouTube video I created to explain this concept, please click here: https://youtu.be/0G_WphrhNIE
So, until we talk again, “Keep Listening, You’re Awesome!”by