How You Can Try To Monetize Your Podcast
- by Mukhtar
- July 04, 2020
First of all, if you want to start a podcast to make money, I have to warn you beforehand. It probably won't happen (at least not right away).
Very few podcasters ever make money with their podcasts. Very few!
It can be done. Done. But it is very possible, it is not usually accomplished without much work and effort. It's probably never achieved by someone just starting out in podcasting. An exception is someone who has made a name for himself elsewhere (sports actor, actor, best, etc.).
If you want to start a podcast to make money, you may be wondering if it is possible. There are a few different ways you can turn your podcast into a revenue generator, whether it's to set up your podcasting expenses or to add other revenue sources. Take a look at some of these different ways to use your podcast as a way to bring in more money.
You Can Find Sponsors
The most common way to earn money from your podcast is to find sponsors. Sponsors will be businesses trying to promote the specific products or services they offer. Usually you will have one sponsor for a podcast episode. After that you will talk about your sponsor anytime during the podcast or more often.
You will usually not have multiple sponsors for each episode.
For example, if you are sponsored by a website, you can say "Welcome to (Podcast Name), this episode is sponsored by (Company)." This will name their company, and later on you can talk a little bit about the services they provide. You can then end the podcast by talking about sponsorship and include steps that will get your audience to visit the company's website or services.
With Affiliate Marketing
Related marketing when trying to promote someone else's products. That person or company will be paying you a certain percentage of all the sales from the people you promoted their product to that purchase through the unique link you provide to your audience (usually in your show notes).
For example, if you have a product related to a specific topic that you are discussing on your podcast, you can include that product's link in the show notes and in a blog post where you discuss the topic in the podcast (we discussed this in a previous book).
When someone clicks on a link and buys a product, you get a commission for whatever the seller has discussed with you. This is a great way to advertise products in a different market.
Some podcasters make a huge amount of money by offering links that are relevant to their audience.
Talking about Certain Products or Services
This is like finding sponsors, but some companies just don't want you to name their company. They would like you to mention the name of the product or service they offer. This is yet another way to use sponsorships in your podcasts to earn money.
As an affiliate marketing, this works best if the topic you are discussing on a particular episode of your podcast is completely relevant to the brand.
For example, you don't want to talk about a natural health product when you talk about politics. It will make no sense to your audience and the sponsor may not be happy.
It's not uncommon for podcasters to earn their money through donations. Request a direct offer only, or be included in multiple podcast access channels.
You can say that you accept donations, or just put a link to the description and website where you host the podcast (without pressing the truth). The donation feature is basically giving people the option of sponsoring you doing multiple podcasts without having to pay a fee to listen to your podcast episodes.
By getting Podcasts containing Paid Subscribers
This is not something that every podcaster will do, but you can try it and see how it works for you. You may have free podcast episodes, but you have special podcast locations where people have to pay to listen to them.
This will not only run episodes but provide exclusive information to your paid subscribers. Maybe you provide a detailed tutorial or an information helmet that you don't want to be easily accessible to everyone who listens to your podcast.
You can have a special guest. Maybe someone will provide specialized training for your audience. Familiarity with the visitor who usually charges you and uses the arrangement to meet you. But instead of the usual compliance fee (for product purchases), they will work for the money for their services sold through your podcast.
There are many ways to monetize your podcast. Don't just rely on one thing. The best goal is to try one for a few weeks or months. Then try another one. Over the course of a few months, you will know which program works best for your audience. Usually, one or more combinations will produce good monetization results.