There was a time where it wasn’t that hard to get yourself a decent income while working from home. You could just put up your website, interview people on your show, and generate a decent amount of revenue from it. Today, we have many options, and the hard part is finding a good one that will work for you. The possibilities are a little overwhelming, and determining what you want to do is also overwhelming. That is why I wrote this article to make everybody understood how to make money podcasting.
Being a podcaster is a job. In fact, some podcasters have chosen to make a career out of podcasting. In this post, we’ll discuss the best ways to make money podcasting.
Why Podcasting?
Hectic life with busy schedules can make you skip many routine things or hobbies such as reading novels, blogs, newspapers, etc. But technological advancement has enabled these things to our doorstep, which we can do along with running other errands.
Podcasts are Gen-Z radio with audio series on some particular topic. It can be used as a source of distraction from worldly things or a mere source of entertainment and motivation. The niche of podcasts can vary like mythological, crime series, stories, specific people or place, critique reviews, advertisement of a service, motivational lesson, etc. The best thing is they keep you updated without consuming too much of your time.
How it can help earn money?
Now, you guys must be thinking that if they can keep us updated, they can also help us with some side savings. So it’s a big YES. Podcasting can monetise your pocket through some direct or indirect methods. And it is a must to consider the money plan beforehand, even before hosting the first episode.
How Much Money Can You Make From Podcasting
It is estimated that if your podcast has 10,000 downloads per episode, you will make $1,000 to $1,500 a month.
How To Make Money Podcasting – Direct Methods
This method will not drive in so much money, but it will ultimately lead you to bigger plans. It includes recording audio of your selected topic and hosts it on the platforms available online. Some recommended platforms would include:-
1. iTunes
It will be accessible mostly by apple users. There you can create your station and put a podcast on. There you can offer a premium subscription to your listeners while putting some content for free as well.
2. Youtube
It is the most widely entertaining source to date, where your podcast can spread like a fire. People won’t pay you, but YouTube does after you reach a certain threshold.
3. Buzz sprout
This site lets you host, promote and track your Podcasts. Their payroll system works after at least 50,000 views. The best way to sell is yet to be discussed in the next section.
4. Spreaker
Spreaker is the one-stop shop for recording, publishing, monetising, and distributing your podcasts. They have a monetisation program where you can have a decent hand. Apart from host plans, they have a free plan too, which makes it a
5. Transistor
Equipped with the best functionality and easiness, this is a user-friendly forum to host your opinions and make a reasonable impact while serving in your best capacities.
How To Make Money Podcasting – Indirect methods
Do you have a business that is struggling with marketing? Or a service to provide, but no one is approaching. This method will make use of your or somebody else’s already published podcasts to drive in a crowd for monetising this podcasting talent and make them buy whatever you want to sell, either ideology or products ‘n’ services.
These are the six proven ways with a data chart
1. Affiliate marketing
The most flourishing and trendy way to do marketing is to sell affiliate products. You just need to sign up for the different affiliates programmes available. Get your personalised link. The more the number of clicks, the more is the liquidation. And that can happen only when you try to make an ad and an impact.
2. Selling Merchandise
It basically refers to the physical products or something digital with your brand name or logo. It can help you set a good market. You can either set up an online store or sell it on an e-shopping site. This is what the economy is settling about. Then Promote more and more.
3. Selling sponsorship
Most common yet the easiest of all. You just need to make an agreement with the sponsors available. And you have to mention their brand name and what they provide, etc., either before or mid-way through your show. It all depends on your audience. A Greater crowd equals greater revenue.
4. Paid membership sessions
Nothing comes free, be it advice or learning. You always have to pay the price. That’s what most of the podcasters are doing right now. A limited number of episodes are being aired for free, while they have to pay to buy a subscription for the whole or the premium series. Selling premium memberships drives a major part of the income.
5. Join ad network
Deals with the ad company are the heavy driving force. They have a 70/30 ratio of profit distribution. And you are being paid according to every 1000 impressions made. You must have a good network of listeners; otherwise, it will fall off.
6. Business marketing with podcasts
If you are a business person and looking out for a different marketing strategy. Podcasts are for you, mate. You can simply talk about your products and services or lend out some free advice that will eventually drive in some leads. Business podcasts are something people really wanna listen to.
Podcast into a viral sensation
Now that you have successfully hosted a podcast on a platform and learned some proven methods to monetise the show, it is now important to focus on how to spread it like a viral Instagram reel. Because in each earning process, viewers and listeners are of key importance, which decides your earning potential.
For that, you gotta use your social media and its hidden magical powers. You can simply put the recorded podcast or the link to it on your Facebook, Instagram, or Twitter handle, where the intended audience can get the hang of it. You can also use the Promoting options available to reach a larger mass.
People are now more aesthetic and into DIYs. They seek their inspiration mostly from Pinterest. This could also be a potential platform to spread the word.
What makes a podcast successful?
The biggest compliment you can give a podcast is to share it with other people. It’s a great way to expose your brand and improve long-term brand awareness. And for those of us that don’t have a big marketing budget, we can still make our podcasts successful. There are two main elements to a successful podcast:
- Content: The content should be engaging and worth listening to. If you can make your listeners laugh or cry, you’ve got something special. And if someone wants to learn something new, you’ve got a gold mine on your hands.
- Promotion: The best way to get your audience to listen to your podcast is to share it. You can do this through various social medias.
Conclusion
podcasts are a great way for people to learn something. It also allows them to have a conversation with someone that knows about a subject. It’s a great way for people to have a relaxed conversation and a great way to feel a connection with the person they are listening to.
In conclusion, having an audience is one of the most important things to do when getting your podcast to go viral. Remember these tips to help your podcast get the attention it deserves.
Suggestion from a business coach – “Don’t bore people. Don’t worry too much about replicating someone else’s formula. Be original with the way you podcast.” – James Schramko.
Podcasting can give you wings that will lift you to a greater height. Give a shot at it today.
