Interested in starting a podcast and would like to know how to make money with a podcast?
Already have a podcast and unsure how to make money podcasting?
Look no further, Here is how you can make money with podcasting.
How much can I make from podcasting?
Podcasters earn anywhere from $100 to $500,000 per month.
How do Podcasters Make Money?
Advertisement is one of the most popular and effective ways that you can make money with a podcast. Some podcasters sell membership instead of advertising.
In order to build your audience and make money, there are some things that you will have to consider.
1. Target Audience
Determine your target audience and keep them at the forefront of your thoughts throughout the process. Each time you release an episode, have a marketing strategy in place—who are you attempting to engage with and how are you going to reach them?
2. User Experience
Always have in mind the user experience. You want to make it as simple as possible for people to locate and listen to your podcast. Apple Podcasts’ marketing recommendations include optimizing your show for mobile platforms. As an example, ensure that your logo looks good when reduced to a small thumbnail size and that your website is mobile-friendly as most listeners use a mobile phone.
Your podcast’s visual and textual components should express the same topic and tone as the broadcast itself. Your platform’s look and feel should be consistent—cover art, website design, and social media activity should all reflect the podcast’s brand in a consistent manner. You can use Canva to make great designs.
Collaborating with other podcasts can help you grow your audience, appear as a guest on other shows and cross-promote with other podcasters. Having high-profile guests on your program or receiving mentions from influencers may also help you to grow your audience.
Here are some ways in which you can monetize your podcast.
1. Affiliate Marketing
Affiliate marketing is a method of earning money by referring customers to other businesses. Typically, you will earn money when a customer makes a purchase.
Affiliate marketing is most effective when you advertise items or services that you use or are acquainted and this allows you to promote them honestly an earn when someone purchases through your affiliate link.
Numerous prominent podcasters have created their online courses to teach material that is comparable to what they discuss on their podcast.
Online courses are an excellent method to educate anything in an easy-to-follow format that will result in a specified outcome once completed.
3. Sponsorship and Advertisement
There are several podcast advertising networks available to connect you with sponsors. They handle everything from locating advertising to negotiating pricing and obtaining the script. To operate with them, you typically need a larger audience of at least 5,000 monthly listeners.
Authentic is one of the major ad networks, and several podcast hosting providers also have their networks.
Another strategy that may work well if your audience is smaller or more specialized is to personally contact firms that might be a good fit for your audience.
4. Coaching & Consulting
Coaching and consulting are comparable to delivering a service, except that you often do not perform the job for them. Rather than that, you assist or coach them in improving.
Fitness, diet, business, and education are all areas with a high concentration of consultants and coaches, but I’m sure there are consultants in every industry.
5. Public Speaking
Numerous podcasters are approached for speaking gigs in their respective industries. If someone likes what they hear on your podcast, it makes sense that you would be a good fit to speak at conferences and live events (and get paid to do it).
Speaking fees can range from a few hundred dollars (or as little as complimentary hotel and attendance) to six figures or more.
Speaking is another excellent method to build your authority while also exposing yourself to a new audience that may become potential podcast listeners.
Of course, there are other ways in which you can monetize and grow your podcasting income, but are you ready to get started with your podcast and make money podcasting?