Earning $138,973+ each month from content
Earning $138,973+ each month from content
ISSUE #35
12 years ago, two-time university drop-out Jon Lee Dumas started an educational podcast that would go on to attract millions of entrepreneurial “students” across the world.
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12 years ago, two-time university drop-out Jon Lee Dumas started an educational podcast that would go on to attract millions of entrepreneurial “students” across the world.
But he didn’t stop there with just teaching.
Entreprenuers on Fire (EoF) is essentially a university for entrepreneurs (it has been featured in Harvard Business Review, after all.)
And like all successful universities, it is a money-making machine.
But unlike universities, EoF’s financial records are out on display for anyone to see.
In its income report for July 2023, EoF revealed how much it generated from its 3 main revenue channels:
- Sponsorships: $121,525
- eBooks & Courses: $9,302
- Affiliate Income: $4,073
In today’s Deep Dive, we’re going to take you on a guided tour through these channels to reveal precisely how the EoF empire makes its money, dollar by dollar.
By the end of this email, you’ll be one of the few marketers who know how the pros do content and digital product marketing.Let’s dive in!
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DEEP DIVE –
How Entrepreneurs on Fire Makes $138,973+ Each Month
To clearly understand how this revenue-making machine works from the inside, we’re going to take a journey as a student of EoF university.
Pretty much the entire customer base comes from the EoF podcast. While the podcast is free for listeners, it’s still the main monetization.
Because the podcast audience is so large, it attracts many of the biggest names in online entreprenuership.
And Jon utilizes their audiences to grow his podcast following.
In addition to audience growth, guests also have to pay an appearance fee of $3,500.
The pod is also sponsored.
Brands can pay for pre, mid, or end-show ads of 15 and 60 seconds for one month’s worth of episodes. And they get featured on a sponsors page for that month.
From sponsorships and paid guests the EoF podcast generated $121,525.
Listeners enroll in free courses
EoF uses Alex Hormozi’s $100M Offers strategy of having offers for every customer budget.
The free courses meet the customers with little to no capital to invest in EoF’s products where they are & offers value in advance of dollars exchanged.
EoF offers three courses:
- Your Big Idea: Discover your big idea in under an hour!
- Free Podcast Course: Create and launch your own podcast!
- Funnel On Fire: Create a funnel that converts!
The whole philosophy behind EoF is to serve entrepreneurs.
By serving them with what they need at their current stage, they bring them into the EoF system where they can mature into bigger spending customers.
The natural complementary product for courses is resources.
Then they pay for the homework materials
When taking an online course, to apply the learning to our lives we need resources we can use to remember the teachings and write action plans.
And that’s exactly what EoF university provides:
The Freedom Journal: Accomplish your #1 goal in 100 days!
- Revenue earned: $1,231 (35 Freedom Journals + 3 Digital Packs sold)
The Mastery Journal: Master Productivity, Discipline and Focus in 100 days!
- Revenue earned: $545 (13 Mastery Journals + 3 Digital Packs sold)
The Podcast Journal: Idea to Launch in 50 Days!
- Revenue earned: $200 (5 Digital Packs sold)
Everything about these digital products, from the titles, formats, and cover designs are intentionally made for the EoF audience.
Take the Freedom Journal. It matches the audience of entrepreneurs who have a strong desire for a freedom lifestyle.
The products offer a transformation in the lives of the audience. They’re not focused on the feature aspects like “setting goals” or “creating action plans”.
The journal format suits how entrepreneurs like to work. They’re not in a corporate environment where they have a manager looking over them to keep them accountable.
Journals are active books, whereas eBooks are passive.
Knowing everything about your audience allows you to create precisely what they want.
For example, a data report for graphic designers could be converted into an infographic to suit their visual nature.
A team management guide for project managers can be created in the form of a booklet in the style of a standard operating procedures (SOP) document.
If they like what they’re getting, they pay to join the community
Community is the final element of an online business empire.
With a community, you can nurture your customer base to keep them for life.
And it serves as a great brand asset to attract a larger audience and sponsorship opportunities.
EoF leveraged the success of its podcast to create the ultimate podcast community.
Podcasters’ Paradise: The #1 Podcasting community in the world!
- Recurring: $5,584 (47 recurring)
- New members: $5,782 (6 new members)
- Total: $11,366
While launching an entrepreneurial community might have also made sense for EoF, a podcasting community is more niche so it’s able to dominate a small niche instead of owning a smaller share of a larger niche.
Plus, a community that’s for a large industry can be quite diluted. It’s hard to provide value for such a wide audience.
The high amount of value the community members receive is why they pay up to $1,497 per year.
The community has two packages:
- The ‘Lite’ package ($697) offers community access, exclusive tutorials, a monthly live Q&A with Jon himself, and other exclusive resources.
- The ‘VIP’ package ($1,497) offers all of the above plus a physical product gift, the Podcast Journey Journal, a professional podcast intro/outro, and a 30-minute strategy call with Jon.
And every mention of a tool or product gets affiliate sales
EoF made $4,073 in affiliate income in one month.
Wherever a tool or resource was shared, an affiliate link was included.
The most amount of revenue came from Click Funnels ($3,483). The rest came from other tools used by many entrepreneurs and podcasters like ConvertKit ($48) and Libsyn ($212).
It’s all part of one big mission
Jon really believes in these tools, which is why he’s able to sell them well through his affiliation.
He knows what his audience needs to become successful entrepreneurs. Everything that EoF does serves that mission.
When thinking of how to build your traffic or revenue channels, consider what life transformation your target customer wants to achieve.
If you can provide what they need on their way to that outcome, you’ll be able to get customers for life.
Imagine the LTV of an EoF customer…
Pulse
How to Turn Objections Like “I Don’t Have the Budget” Into Closed Deals
Objections are not rejections. They’re opportunities to learn more about your ideal client and lead them to the close through “intentional decision making.” When you understand this powerful reframing strategy, you can handle resistance with ease.
Now You Can Run Amazon Ads on More Third-Party Sites (Including Pinterest)
Amazon will soon begin to serve ads across third-party platforms like Pinterest and publishers like BuzzFeed, Hearst Newspapers, Lifehacker, and Mashable. All ads will link back to Amazon product pages.
Reddit Releases New Hyper-Targeting Ad Features
Now you can target more granular user interests. For example, the “Food & Drink” category has been broken into subgroups like “Baking & Desserts” and “Cooking & Kitchen”. For additional reach, Reddit recommends enabling expansion, increasing bids, or pairing with additional relevant interest groups or communities.
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