We’ve all been there. “Monetize podcast” has been on your to-do list for a while, but you just aren’t sure where to start. 🤔
You’re in luck! This blog post will help you by describing several different ways to start making money. We will cover:
- Selling products
- Affiliate marketing
- Partnerships and Sponsorships
- Advertising agencies
But before we start, let’s talk about high expectations. You’ve probably seen podcasters on social media who are able to make enough money from their episodes to fully support themselves and their show. That’s great! And, yes, that is possible for you too!
But first steps first: Don’t expect to be able to live off your podcast earning from the very start. Think of it as a supplement to your current income or a way to make the recording adventure viable. Generating money through your podcasts will take time, creativity, and hard work. 💪
Now that the introduction is over, let’s get practical!
People love swag, especially swag from their favorite podcast!
So why not start an online store? It’s a great way to make money while increasing your visibility.
To start, think about what your listeners would want and what goes with your marketing brand. Common products to sell are t-shirts, tote bags, mugs, etc. You can put a logo on them or even a cartoon of the host. 👕
Whatever you decide to sell, make sure add a little personalized attention when you send the order, such as a little thank you note. A small gesture that won’t cost you much and it will certainly delight your listeners. 😃
Affiliate marketing is when a business will pay a small amount of money you if you successfully get one of your listeners to buy their product. The more listeners you convert into customers for the business, the more money you make! 💸
Often this monetization technique involves the host reading a live ad to the audience and giving out a code they can use when they purchase the product or services in the ad. Sometimes it involves including a special link in the episode show notes.
Whether it is a code or a link, there is some way for the advertising business to recognize that the customer is coming to them because of your podcast. 🧑🚀
Of course you need to make sure that the business and products you are marketing are of good quality. You don’t want to lose some of your audience because they had a very bad experience with the business.
Partnerships and Sponsorships
This monetization method is similar to affiliate marketing, but rather than getting paid per customer, a podcaster is paid a lump sum to be a brand partner. 🤝
The idea is that a podcaster is a micro-influencer and the sponsoring business benefits by simply being shown alongside the micro-influencer.
In order to make money this way, you need to have a strong following not only via the audio content of your podcast, but also on social media and different communities. You need to be able to show potential partners your listener data as well as your brand specifics. 📊
More and more brands are starting to use podcasts, because they have finally understood that it is an excellent way to do storytelling or to work on their brand content while fully captivating their targets.
So why not take advantage of your experience to offer your skills and know-how to help professionals? 🧑💼
You can approach them by proposing to create a series of custom podcasts for them, independent from your main podcast.
Subscriptions are when people pay for access to content. In podcasting world, this usually means audio content. 🎧
Some subscriptions are only for special events or premium content like bonus episodes.
Sometimes subscriptions are for quicker access to the content. All the episodes may be free, but they are released once every two weeks. If a listener wants to binge listen, they can buy a subscription so they can listen to all the episodes all at once. ⏩
Another kind of subscription is ad-free content. A listener can enjoy the content for free if they are willing to sit through ads, but if they don’t want to be annoyed by ads, they can buy a subscription to a version and doesn’t have any ads.
The final kind of subscription in podcasting is the least common, but it is still an option! It is when a listener needs a subscription to listen to any of the content at all! The reason this is so rare is that it is very hard to build an audience without any free content at all.
If you decide to monetize through subscriptions, be sure your hosting platform is up for the task! (Spoiler alert: Ausha is!) 🚀
Crowdfunding is when listeners or supporters make donations to the podcast. 🙏
This revenue may only be enough to cover some of the costs of recording the episodes, or it could be enough to pay the creators for their work.
Below are some examples of some crowdfunding platforms you can use.
Here at Ausha, we make sure podcasters can easily utilize this monitization route by building websites or Smartlinks where podcasters can highlight and list their crowdfunding link. 🔗
Advertising is probably one of the first things that a podcaster thinks of when they think of how to make money from their episodes. And for good reason!
Television, YouTube, newspapers, media as we know it is funded by advertising. 💰💰💰
So what are the best advertising platforms for podcasters looking to get into the action?
For non-audio ads, which would be ads on your podcast website, you can go with Google’s Adsense. It is a giant in the industry and you can’t really go wrong. 🤷
For audio ads, you will be looking at selling pre-roll, mid-roll, and post-roll ads. For a whole in-depth discussion about these, check out our blog on them.
You can approach businesses individually to see if they want to place an ad, or you can go through a bigger advertising company who does the legwork for your (but of course they take some of the revenue).
The bottom line is that there are many ways to create revenue in podcasting. It all depends on what is the best fit for you and your podcast. 🧩
Of course, you don’t have to just pick one method to making money! You can pick as many as you have time for. You can also mix and match methods.
For example, you can ask for donations and, in return for donating, a listener gets access to premium episode recordings or special events. ✨
Whatever advertising space or services you offer, just make sure you do it well!