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Building your business on the generosity of strangers – aka “Donations” – is not a business model.
This is Part 3 of the series “Ad Revenue Model Is Dead, Sponsors Are Unreliable, “Donations” Is Not A Business Model.”
(Photo: Jimmy Fallon and U2 performing in disguise at a NYC subway station.)
Welcome to episode #77 of the SubscribeMe show from SubscribeMe.fm.
I’m your host Ravi Jayagopal. This is the podcast to listen to, to learn about creating membership sites & online courses, making, marketing and monetizing digital content, WordPress, eCommerce, digital marketing, and tools, techniques and tips that you can use to create a long term, profitable online business.
I am the co-founder & co-developer of DigitalAccessPass.com, a premier membership plugin for WordPress, fondly known as DAP.
Building your business on the generosity of strangers – aka “Donations” – is not a business model.
First, I play a clip from a podcast called RadioLab, a super-popular radio show and podcast with millions of listeners, where you will hear a really shocking revelation about the ability – or should I say, inability – to raise funds through donations even when you have a super-successful podcast, which, according to their media kit, they get 1.6 million weekly radio listeners.
And then, I’ll tell you another true story that happened on a cold morning in January 2007, when a violinist wearing a baseball cap was playing some beautiful music in a Washington DC subway train station.
1,097 people passed him by, but only 7 of them stopped to listen to him. He had a mat spread out in front of him to collect donations.
For his 43-minute performance, he collected a whopping $32.17 from a total of 27 passersby.
Do you know how much this guy’s violin cost?
Please listen to the rest using the player above (or below), via Apple Podcasts at SubscribeMe.fm/itunes/ , or via Android at SubscribeMe.fm/android/ .
And also check out my new daily show, “Cut To The Chase” from CutToTheChase.fm which is also available as an Alexa Flash Briefing, at https://www.amazon.com/dp/B07GLP1KV1/
Cheers!
– Ravi Jayagopal
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