The $816 CPM Story – #BWE09

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At the BlogWorld Expo, Jason Van Orden talked about achieving an effective $816 CPM for his downloads, as compared to the average podcaster getting $15-40 CPM. He got my attention.

Here’s the quick video version of how he did it. The longer post summarizes the rest of his presentation about how to grow your audience on the web. He has some excellent advice, which may be one of the reasons he has been able to realize such a return on his efforts.

Jason is an expert in new media and internet marketing. He is also the author of Promoting Your Podcast.

Jason starts out by discussing goals. The end goal is an action, something we want the audience to do because of our efforts. But we have some work to do to earn the action.

We need influence to make the action happen, and we don’t get influence instantly. We have to bank influence overtime and then we can make the withdrawel.

Before influence, comes engagement. We need an audience that this active and engaged with the content and the subject.

Before engagement, comes permission. We need the audience to opt-in in some way, to sign up for our email list, subscribe to our podcast or blog, or follow us on Twitter or Facebook. We need them to take a step to give us permission to send them stuff.

Finally, before permission, comes attention. We need to get their attention to get the process started.

Jason describes these steps as the New Media Money Map:

  1. Attention
  2. Permission
  3. Engagement
  4. Influence
  5. Action

Jason then dove into the subject of attention in more detail.

He pointed out that we live in an attention economy and that competing for attention is the focus on new media marketers.

Jason went on to describe the components of new media magnetism that can help you gain more attention.

He described the components as relevance, reciprocity, authority, trust, convenience and desire (either urgent pain or rational passion). Building these components into your content and behavior will help you gain more attention.

He went on to describe what he called the preeminence principle. This is all about making sure you are the expert everywhere your users go. This ubiquitous expertise helps reinforce your position in the users mind.

Jason provided some great tips on how to be ubiquitous. He described how high rankings in search engines is essential and how it’s not just Google, but also iTunes and Youtube. He described how all search engines use relevance and authority to drive their rankings. In iTunes, he has found that keywords are what drives relevance and subscriptions, ratings and reviews help to drive authority.

Some other tools to use include Feedburner and Tubemogul to help with distribution. He also suggested Webcam Max and Camtasia as software tools to help generate content.

Moving on to permission, he described how your email list is still your most important list, but now you have Twitter followers, RSS followers, Facebook fans etc. Don’t overlook building those lists as well. He pointed out that you should make your opt-in one of the most prominent parts of your web page and make sure it’s above the fold. Aweber and iContact were his two suggestions for mailing list management.

He suggested GotoWebinar as one of his key tools to convert people on Twitter and Facebook into email lists and conversion opportunities. Don’t sell on Twitter, use it for sending invitations.

Jason then described his thoughts on engagement. The drivers of engagement are knowing you, liking you and trusting you.

You want your audience to resonate with you. He also said that telling stories is a method that works exceptionally well.

He suggested The Story Factor by Annette Simmons as a great resource for improving your story telling.

At this point, we started running out to time, but you can get more information from Jason at his blog.

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3 thoughts on “The $816 CPM Story – #BWE09

  1. Interesting, but not sure if people would buy premium content, when they could get it for free, with a quick Google search. Unless you have unique, one of a kind content, most of us, like my site, wouldn’t be able to do this, especially in the travel area, then again I could be wrong. What does everyone else think?

  2. Pingback: Soylent Green is BWE! Or, It’s about the people! - Chrispian.com

  3. @scott – I used to think that as well, but I can tell you that it is possible to make money by selling premium content. I have both paid for premium content (I’m a member of Jason’s membership site) and I sell premium content online myself.

    Even though it is not obvious there are three big reasons I find that people will pay for content:
    - you can offer a unique perspective or add unique value
    - you can offer customers a focused filter for important information that you cannot get by simply searching online
    - people will learn to trust you after you have spent time building an authentic relationship them and that means “giving first”.

    Ultimately, the third point is the reason most people buy from me. But, you should not discount the value of providing a focus. On the Internet, one of the biggest problems is vetting information from the torrent of free information online. If you are an expert in a field and can give ONLY what they need to know for there specific problem there is real value there. Information by itself is not value, but focused structure information is very valuable.

    After all, if it is was simply a question of access to information why would people pay $20,000, $50,000 or more to go to college when they could simply read Wikipedia?