Today I want to talk to you about a question we’re frequently asked and that question is, do podcast guests get paid?
Now the short answer is No they don’t but it’s not the whole picture.
So this is really to say don’t embark on a podcast interview strategy thinking that you will be paid by hosts for appearing on their shows.
It’s not to deny that there are well-known entrepreneurs and celebrities who do charge a fee for their appearances but as podcast guests go they’re in the minority.
This may help for context. When I was on a course with Rob Moore host of the Disruptive Entrepreneur and Money shows he said that he had paid four guests out of 200 – and no he didn’t divulge who they were.
Often this question crops up when people are considering embarking on podcast interviews and are not sure how they’re going to see a return on investment.
Fair Exchange
Our advice is always this, think about your interview as a fair exchange.
Fair exchange is something John DeMartini who featured in the Secret talks a lot about. I’ve seen John speak several times in London and he always offers sound advice. So I’d like to share his words on fair exchange with you.
“When we give a service and we get a reward and they're perfectly balanced we're most authentic, most fulfilled and that's the name of the game.”
So what then might be the rewards for being a podcast guest?
- As a podcast guest you are getting exposure to the podcast host’s audience and this is very powerful.
The podcast host has spent time and money to grow their audience which you are now borrowing
And when we say audience we don’t just mean the listeners of the podcast.
You’ll also gain exposure to the host’s email list and social media network.
Often the host’s list and social media followings are much larger than the number of listeners of the podcast.
And how might this exposure help you?
You can utilise this exposure to grow your own audience.
Also being invited on to the host’s show gives you credibility with the show’s audience.
Value the host because they are the person the audience is tuning in to on a regular basis.
And a host cares about their show. They care about their audience, and so they’re unlikely to host a guest they don’t like or don’t agree with which is a silent endorsement.
And you know the benefits go both ways hence the fair exchange.
The host also benefits from you, the guest’s expertise which in turn allows them to deliver value to their audience and a new perspective.
The host gains exposure to the your list as the guest and also your social media following.
Fair exchange, wouldn’t you agree?
Essentially, thinking about being paid to be a guest is the wrong way to look at a podcast interview.
The return on investment you’re going to see will come from building relationships with the host, the listeners and making a connection with the audience.
It comes through having a well thought out call to action and your backend systems in place to nurture the leads that your podcast interviews will bring.
https://drdemartini.com/blog/how-to-make-money-using-the-law-of-fair-exchange
Should you pay to be a guest?
Again, this is another question that comes up. Most podcasts don’t pay guests and most podcasts don’t charge guests either, although some do.
Paying to be on a podcast is not something we generally recommend our clients do. (Note this is not the same as sponsorship.)
How much do hosts charge guests?
As we’ve said the majority don’t charge but we have come across hosts who ask for a nominal fee such as $50 to cover their editing costs. We’ve also been asked for $3,500.
But the point is if you’re paying to be a guest on a show, then everyone knows you’ve paid to be on that podcast turning the experience into a kind of advertorial rather than an interview. And that’s something to weigh up.
Do podcast guests get paid: Conclusion
Essentially, thinking about being paid to be a guest is the wrong way to look at a podcast interview. The return on investment you’re going to see will come from building relationships with the host, the listeners and making a connection with the audience. It comes through having a well-crafted call to action and a system in place to nurture those leads.
