Welcome back to another insightful clip of Market Mondays series! In this clip, we dive deep into the current state of podcasting and the influencer market with our special guest, 19 Keys. Hosted by Rashad Bilal and Troy Millings, this discussion sheds light on crucial topics that everyone in the digital space needs to be aware of.
Episode Breakdown
*Introduction of 19 Keys:*
19 Keys opens the discussion with an intriguing question about the future of podcasting and whether there's an ongoing "influencer recession." With his wealth of knowledge in personal branding and technology, he sets the stage for an engaging conversation.
*Influencer Recession:*
Rashad Bilal discusses the signs of the influencer recession, noting how various markets, including comics and financial literacy influencers, are witnessing a downturn. He provides examples from the financial literacy space, where many influencers who rose during the pandemic have now gone silent. Even platforms like OnlyFans are not as lucrative for some as they used to be. Rashad's insights help contextualize why this recession is happening and what it means for the future.
*Podcasting for Everyone?*
Can everyone succeed in the podcasting realm? Rashad and Troy think not. They highlight the complexities and the effort required to produce high-quality content. From researching topics to editing episodes and creating engaging social media snippets, there's a lot more to it than just talking into a microphone. Rashad suggests that while everyone should have an Instagram to build their personal brand, podcasting is not necessarily for everyone due to its labor-intensive nature.
*Monetization and Value:*
Troy further breaks down the monetization aspect. Not everyone should start a podcast just to make money; the true value lies in passion and the unique message you offer. He explains that even celebrities have backed out from podcasting, realizing it's not the cash cow they expected. If your goal is solely financial, you won't last long in this space.
*Niche Down & Build Value:*
19 Keys adds nuance by discussing how important it is to find your niche. He outlines how podcasting can be a powerful tool for personal branding and content funneling. With a specific focus, you can create a smaller but more engaged audience. He emphasizes the significance of authenticity and how smaller, focused audiences can provide greater returns for advertisers. Using his own experiences with Cordyceps and other health products, 19 Keys illustrates how niche podcasting can serve as a content funnel to various aspects of your business.
*Invest Fest 2023:*
The speakers then pivot to discuss the upcoming Invest Fest, emphasizing its uniqueness and its essential role in fostering a culture focused on future growth and wealth-building. They call on attendees to show up at their 100%, network creatively, and treat the event as a monumental opportunity for personal and professional growth.
Key Takeaways:
- *Influencer Market Downturn:* The influencer recession is real but temporary. Quality and consistency will keep you afloat.
- *Effort in Podcasting:* Podcasting is labor-intensive and not for everyone. Passion and a unique message are critical.
- *Monetization:* Diversify your income streams; don’t rely solely on podcasting for revenue.
- *Niche Focus:* Finding your niche will help you build a dedicated audience and increase value.
- *Invest Fest 2023:* Prepare to network, learn, and grow at this year's Invest Fest.
Join us for this thought-provoking episode as we uncover what it takes to thrive in today's digital landscape. Your future self will thank you for it.
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