10 Ways To Make Money From Podcasting
Starting a podcast is a major business decision. It requires a commitment to take the time to create the material for the podcast and record it. You then have to edit the recordings and upload them to a location that will make each podcast accessible to your target audience, such as SoundCloud or iTunes.
Podcasts let you connect with your audience in a more engaging way a text-based blog never can. While giving away free content is the nature of doing business online, if you don’t start to make money from podcasting in some way, they’ll become a resource-draining hobby. There’s specific answer as to how much money can you make from a podcast, but here are 10 ways to get started.
How To Make Money From Podcasting
1. Sell Previous Episodes on iTunes
Podcasts are not one and done interactions with your audience. They are powerful because if someone listens to one of your podcast episodes and enjoys it, they almost always return to
listen to more content. As you build up a catalogue of episodes, with each podcast being high quality and of interest to your niche, your audience will want to listen to what you had to say in the past. You can package these previous episodes into sets and sell them on iTunes.
2. Sell Each Episode on SoundCloud
SoundCloud allows people to access your content on a range of platforms. It’s also easy to use, with an interface quite similar to YouTube. In order to make money from podcasting via SoundCloud (in the same way as described in point #1 above) you need to join SoundCloud Premier, which accepts independent artists.
FREE Checklist: Podcasting For Beginners
3. Accept Ads
You can accept ads from anyone who wishes to get their name out there and thinks your podcast would be a good opportunity for this. Be prepared to give them data about how many listeners you have. Also prepare a rate card. Research what other podcasters are charging. The longer you have been in business and the greater the number of followers you have, the more you can charge.
4. Find a Sponsor
A sponsor would be similar to an exclusive advertiser for your podcast. Think of the kinds of products and services in your niche (besides your own) that your target audience would be eager to buy. Then approach the business owners to see if they would be willing to sponsor a podcast. You might need to gear your content towards their products. You might even be able to get a person from the sponsoring company to agree to appear on the show and be interviewed. This is how some of the top earning podcasts generate revenue, but if the idea of any editorial interference isn’t acceptable to you, then you might be better off considering other options.
The website patreon.com allows ordinary people to support your podcast on a per-podcast or on a monthly basis. Choosing the monthly option means you can make money from podcasting with a predictable stream of revenue. Per podcast can start bringing in significant profits if you can create high quality podcasts regularly. This is also a good way to develop a following and make meaningful connections with your target audience, who care about your content and your success.
6. Affiliate Marketing
Join affiliate programs such as Amazon or affiliate marketplaces such as ClickBank, and sell products related to the topics of your podcasts in exchange for a commission. If you’re in a niche with expensive products, this can be a significant stream of income.
7. Sell Your Own Products and Services
Create information products such as eBooks, videos, reports, checklists etc, and expand your business to start offering services. Run your own spot ads on the podcast. Create special offers your target audience will not want to miss out on.
8. Partner with Others and Split the Revenue
Partner with others in your niche who have products and services to sell. Both of you can promote the podcast and split the revenue.
9. Product Reviews
You can review products or services that are related to your podcast topic and leave your personal affiliate link in the description. When people click on this and buy any products, you’ll receive a percentage of the sale. If you’re good at promoting and reviewing, you could find this method bringing in a steady source of income each month.
10. Boost Your Content With Transcripts
Providing transcripts of your episodes is a great way to create content for your website. It helps the search engines understand what your website or blog is about, and also improves search rankings for keywords and phrases relative to your industry. You can inexpensively hire a freelancer to create a transcript of your podcast episodes. These can be used as list-building giveaways, published on your blog, and made into eBooks which you can sell.
Free Checklist: How To Make A Podcast
In technology friendly countries around the world, podcasts are becoming more and more
popular. Podcasts provide on-demand and targeted content that your audience are looking for. They can listen to it on the go and allows you to connect with them much better than text-based media. Many successful entrepreneurs believe this is the perfect time to make money from podcasting. To learn more about this unique marketing opportunity for your business, download my free checklist, How To Start A Podcast to become a recognized authority in your chosen niche and generate income from this untapped resource.