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And we are back with BRX Pro Tips. Stone Payton and Lee Kantor here with you. Lee, let’s talk about some disciplines for pricing a Business RadioX show.
All right. This pricing is important because this is how you narrow down what your clients look like and part of the profile of a client. So, for us, in the studio, the show that we sell the most often is a monthly show, and we charge $1000 a month for a monthly show and as of this date in 2019 . And we, also, give them a break. If they pay $5000 upfront, they get six episodes. So, for $10,000, they can have 12 episodes in our studio here.
So, what we like to do when we’re doing our show concept meeting is to figure out and have them verbally say that a sale to them is worth about $10,000. If a sale to a prospect is worth $10,000 or more, then having a show is kind of a no-brainer because, then, all they have to do in the course of the year is sell one client something in order to pay for the show. So, that makes a lot of sense. It connects some dots for them. And then, it shows an ROI that just financially makes sense.
So, ideally, it would be $10,000 sale annually. But even some people will go for it if it’s $10,000 lifetime value. So, you have to kind of discern whether the sale is an annual sale or it’s a lifetime value sale. But either way, if they’re going to spend around $10,000 by getting a new client, or they’re going to get $10,000, then spending $10,000 with you to have a monthly show makes perfect sense.
Well, and I like that whole framing because I like to focus on ROI, return on investment, because I can tell you, virtually, anyone else in the media world, they’re going to talk about anything but return on investment. They’re going to talk about every other cosmetic metric, key indicator you could possibly think of. But I love the idea of boiling it all down to actual green dollars in return on investment. And so, doing what you just described, Lee, lets you do that, lets you have that conversation. And in almost every situation, it does end up being an absolute no-brainer.
Right. So, I like to say these words, “If I can put you in front of 10, 20, 30 of your best prospects, is that going to move the needle in your business?” If the answer is yes, then they should have a show.
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