The best ways to make money with a podcast
As a podcast host, you need to remember that you are in control of how you monetize your show.
You can combine different methods to find what works best for you and your audience.
This is a great concept to remember as you work through the next section on the best ways to make money from your podcast.
1. Sell ad space on your podcast
A podcast episode is a great way to sell ad space.
You can find ads that will interest your target audience and go well with your show content.
A podcast advertising network like Advertisecast can help you find the right podcast sponsorship for you and your audience.
You can also contact companies that would be willing to pay for advertising space on your show and explain the benefits to them.
Even if you have a smaller but highly engaged audience, you’ll probably still be able to sell advertising, but it may not be as profitable as for those with larger audiences.
2. Ask listeners to donate money to support the show
Podcast hosts can ask their listeners to donate money as a sign of support.
Whether by creating premium content or simply asking for donations, this is one of the monetization methods where the sky is the limit.
From creating paid content to direct donations, there are plenty of options for those who want to ask their listeners for this kind of help.
A Patreon account can also be used to collect monthly donations from your listeners in exchange for more content from you.
This is a popular option for those who want to offer their listeners exclusive content in exchange for their support and can range from a few dollars to a few hundred dollars once in a while.
You can also use payment solutions like Paypal and Square to collect donations from your listeners.
Regardless of the platform you use, it is very important that your call to action is well crafted in this situation.
You need to explain to your listeners what they will get for their donation and how they will benefit from it.
3. Offer consulting or coaching services related to the topics of your podcast.
Starting a coaching business related to the theme of your podcast is a great way to turn your show into a profitable business.
You can share your knowledge and expertise with those who need it, and get paid to do so.
It’s a great option for those who want to turn their passion into a business and help others at the same time.
A podcast can be the perfect introduction potential clients need to see you as an expert in your field and feel comfortable working with you.
Then, with coaching platforms that can take the headache out of starting and running a coaching business, you can get started and making money with your podcast in no time.
4. Use affiliate marketing to make money from the products or services mentioned on your show.
From recommending online services to selling other companies’ products through a personalized link, there are plenty of ways to make money through affiliate marketing.
Sometimes it’s better to have a niche audience because podcast content can be directly related to the products or services you’re recommending.
Remember that podcast listeners are a knowledgeable and insightful group of people.
If you’re trying to make money podcasting through the right affiliate link, make sure your endorsements align with your values ​​and you’re not trying to sell anything and everything to earn a few bucks.
5. Sell products related to your podcast
Podcast hosts can sell merchandise related to their show to monetize their podcasts.
These can be t-shirts, mugs, or more unique items like stickers or pins.
With the added ability to offer exclusive access to merchandise only to your podcast listeners (and possibly in limited quantities), you can use human biases like scarcity and exclusivity to work in your favor.
6. Sell access to your products or services
From selling an online course related to your podcast’s theme, to hosting events that provide great value to your listeners, there are many ways to monetize your podcast by selling access to your own products or services.
Podcasts allow future customers to see the value you can offer and decide whether or not they want to invest in it.
A podcast website also lends itself to creating a section dedicated to detailing your products or services.
Going back to the example of online courses mentioned above, you can offer free content to give a taste of what people can expect from the system, hosted directly on your website or through proper integration. with an online course platform.
This can contribute to the success of a podcast and increase the number of sales businesses make with their products or services.
7. Rephrase your content
When you look at your podcast stats, you’ll find that some podcasts have higher listener counts than others.
This is normal, as some topics are more popular than others.
When you find that the content of a popular podcast resonates more with your audience than other topics, it’s essential to take notice.
While most podcast creators create new content around such a topic and use it in their future podcasts, it’s best to use similar content and repurpose it to other channels.
The possibilities are endless in this case.
Whether it’s creating a YouTube channel where you post your podcast’s video feed, creating a blog and expanding on the topics in written form, or hosting webinars that let people know more on the subject of your podcast, there are many ways to do this.
Some tools can even help with the podcast conversion process, making it easier for entrepreneurs to expand into other channels after the podcast.
By picking up popular content, you can make the most of what’s already working well and ensure your message reaches as many people as possible.
Grow a podcast audience
Considering your marketing strategy is key when developing revenue streams from podcasts.
At its most basic, building a loyal following goes hand-in-hand with your podcast’s level of monetization.
The larger your audience within your own business, the more partnerships and opportunities open up, so having a plan to grow your audience should be a priority.
Here are some of the best ways to grow a podcast audience.
Fill your podcast episodes with value
Whether it’s getting more downloads or word-of-mouth recommendations from listeners, value is the name of the game when it comes to podcasting.
If your episodes are filled with practical information that people can use in their daily lives, they’ll be much more likely to come back.
It is also essential to ensure that each episode is digestible and relevant.
No one wants to listen to a rambling podcast that feels like it’s going nowhere.
Keep your episodes focused on a single topic and be sure to add value throughout.
Give something unique
Related to the previous point, no one wants to listen to content they can get elsewhere.
If you regurgitate information that people can find elsewhere, they won’t stay there long.
Whether you’re giving your unique perspective on a subject and your experience in that field, or creating exclusive content that can’t be found anywhere else, offering something unique is key to keeping people interested.
Telling future content
Getting current subscribers to keep coming back for each new podcast is highly dependent on what happens during and after the previous podcast.
The ability to talk about what’s in store for you in future episodes is a great way to keep audiences engaged and wanting more.
It also helps build a sense of anticipation and excitement around your show, which can do wonders for word-of-mouth promotion.
Interact with your listeners
You can’t expect to magically launch a podcast into the world and people start listening to it.
You need to actively promote your show if you want people to find it.
One of the best ways to do this is to interact with your potential audience.
Whether through social media, forums, or other online communities, engaging with people who might be interested in your podcast is a great way to get them to check it out.
It also helps create a bond between you and your listeners, making them more likely to become loyal fans over time.
Feedback is a two-way street, so be sure to take the time to engage with your audience and address their concerns.
Be consistent with release schedules
Getting podcast audiences to listen to you every time you release a new episode is key to growing your show.
But to achieve this level of regularity, you need to set a schedule and stick to it.
Posting episodes on a random basis will only confuse and frustrate your listeners.
They won’t stay around long if they can’t rely on you to post new content regularly.
Also, a fixed schedule is the best way to ensure that your audience always comes back and that you hold yourself accountable when creating shows.
Use social media to promote your show
Although it may hurt, people may forget about your show if you don’t remind them.
One of the best ways to do this is to use social media.
Be sure to actively promote your show on your social media channels and take advantage of relevant profiles on the various networks.
This will allow you to get your podcast presented to as many potential listeners as possible.
You can also use social media to interact with your audience and get feedback on your episodes.
This can be a great way to improve the quality of your show over time and ensure that you’re consistently delivering the content people want to hear.
Use your storytelling skills
Getting an audience to listen to your podcast is one thing, but getting them to stick around till the end is another.
Using your storytelling skills is the best way to share your stories and keep people interested.
The authenticity of your stories is also key to connecting with your audience.
Those with successful podcasts know how to use their storytelling skills to keep people engaged and keep them coming back.
Choosing the Right Podcast Platform
Here are some features to consider when choosing a podcast platform.
Ease of use
Nobody wants to spend hours learning how to use complicated software.
When choosing a podcast platform, be sure to choose one that is user-friendly and easy to navigate.
The last thing you want is to waste time learning how to use the podcasting platform instead of creating content.
Distribution and monetization options
There are several ways to monetize your podcast. It is therefore essential to choose a platform that offers the options you need.
Whether it’s running pre-roll, mid-roll, or post-roll podcast ads or selling products through a paywall, make sure the platform you choose makes it easy for you.
Full analysis
It is essential for any podcaster to know their target audience and the content they are responding to.
Be sure to choose a platform that offers comprehensive analytics so you can constantly improve the quality of your show.
Metrics like CPM, downloads, listener location, and device type are just some of the things you should be able to track.
The more data you have, the more you will be able to refine your content and ensure that you always deliver the best show possible.
High quality audio
You want your audience to be able to listen to your podcast without any problems. So be sure to choose a platform that offers high-quality sound.
No one wants to listen to a fuzzy or distorted podcast. So test the sound quality before committing to a particular platform.
Prices
Finally, don’t forget to examine the prices of each platform before making your decision.
While some platforms are free, others can be quite expensive. It is therefore important to choose a platform that suits your budget.
Remember to consider things like distribution fees and other potential costs when making your decision.
What are the best podcast platforms?
The biggest podcast platforms are Spotify, Apple Podcasts and Amazon Music.
That said, if you want less competition and more specific features, consider platforms like Buzzsprout and Podbean, which offer more comprehensive features for podcasters.
That said, choosing the right platform will depend on your specific needs as a podcaster. So think about what is important to you before making your decision.
