3 M’s
The 3 M’s:
Memberships
Masterminds
Masterclasses
Similar to coaching and consulting, memberships and masterminds are a good way to monetize a podcast. You could either record these calls and release them as podcast episodes, or create a membership or mastermind group on the back end as a CTA and listeners may join your program. Think of it more than group coaching with not just your input, but the input of several other people as well.
Membership can be like a community as well, but offers more than just a community factor and can offer classes/courses, spreadsheets, templates, and other assets. You can charge anywhere from $7 - $97 per month for a membership.
A mastermind is a much smaller group of people, usually only 20. Masterminds are much more expensive as well, ranging from $97 to $997 per month. Masterminds are filled with high-level learners and educators who want to do more than just communicate but grow their business.
A masterclass is like a webinar, with more teaching and less pitching. It lasts about an hour and the attendees walk away with some actionable steps taken. If you want to offer an online masterclass that ranges from 2 to 5 days, you could refer to it as a workshop, boot camp, or challenge. This involves a lot of learning, worksheets, and more. For masterclasses, workshops, boot camps, or challenges, these can range from free to $97.