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How To Make Money Podcasting?

How To Make Money Podcasting?

Are you just learning how to make a podcast? Are you already a seasoned podcaster with a large audience? Whatever stage you’re in as a podcaster, you will ultimately want to monetize your podcast Here are a few suggestions on how you can do this:

How To Make A Podcast To Earn Money

If you don’t know what podcasting is – you create a series of audio files that you then broadcast one by one. You can host these files on numerous podcasting platform, and create feeds to connect them to your blogs, to audio players, etc. These audio files can be delivered to any device.

Podcasts are gaining popularity as a content platform today

Why Podcasts Are Popular

Podcasts are generally audio files. You can also make videos video podcasts or vlogs. However, podcasts are mainly audio.

There are many advantages to this:

  • Many people prefer listening to audio to reading long text articles
  • Unlike video or text, podcasts don’t need your full attention
  • You can listen to podcasts while you’re cooking, running, working out at the gym, etc
  • Podcasts can be delivered to you on any device including your smartphones, tablets, and your laptops
  • The podcast is an on-demand service, unlike radio. So you can listen to what content you want at the time you want
  • Smart devices like Google Home and Amazon Alexa are making it easier to discover new content and listen to it

So, you’re now wondering how can you make money with your podcasts?

There are several ways through you can monetize your podcast

Many Ways To Monetize Your Podcast

Just like blogs, you can find several ways to earn money using the content you have created. But first, you’ll have to build an audience. You can then start monetizing your content. Here’s how:

Affiliate Marketing

This is a common way of monetizing good content whether it’s text, audio, or video, Promote products that are relevant to the topic of your podcast. Mention the affiliate link in the show notes. Use a plugin/utility like Lasso to create short, pronounceable, memorable URLs that redirect to your affiliate link. Mention this link in your podcast.

Advertising

If you have built a large enough following, upwards of 5K, you can make money through advertising. You can connect with advertisers through podcasting ad networks. They list various categories of advertises along with the rates you can get. Select a few that fit in with your niche. Create appropriate slots in your podcasts to advertise these brands.

Sponsorship

If you have a small but dedicated audience for your high-quality podcast targeting a small niche, you may be able to find sponsors for your podcast. These sponsors are more interested in communicating with the right kind of audience rather than advertising to a large number of people who may or may not be interested in their products.

Virtual Summits

If you have good interviewing skills you can set up virtual summits. A virtual summit is a series of interviews with experts. Find experts on the topics your audience will be interested in. Set up your virtual summit and sell passes to it. Offer a few free passes to promote the event. These passes will give access to the whole summit, letting your audience listen to it live.

Offering Courses

You can offer courses on subjects that you have expert knowledge in. Set up a few full-fledged courses, related to your podcast’s niche. Promote each course with a short, free introductory episode. You can conduct courses that give advanced training or information on the subject that you focus on in your podcast. For instance, if your podcast is about dog training, you can set up a full course on Agility Training for Dogs.

Promoting Your Services

You can use your podcast to promote your professional services. As an example, your podcast may be about eCommerce and you offer professional web design services. You can mention your company website and other details in your podcast so that your audience can contact you if they want a professional web design service

Sell Your Products

Similar to promoting your services, you can also promote any physical products you sell.  Promote the products in a podcast about a related niche. You may be running two podcasts, one on SEO and the other on arts and crafts. You may also be selling designer paper goods. So promote your paper goods on your arts & crafts podcast. Allocate ad slots in your podcast to promote your products and direct your audience to your website.

Consultation Service

You can offer consultation services through your podcast. Unlike normal services, in consultation services, you don’t undertake the full job. You just provide your expert guidance to your client to enable him to successfully complete his project. You can provide consultancy services on SEO, web design, and myriad other subjects. You can even provide a consultation service on setting up and running a successful podcast

Create Audiobooks

You have good speaking skills, you have expert knowledge in your niche. You’re providing audio content anyway. So why not create audiobooks? You can create your audiobooks from scratch. You can also repurpose your older content. Ask your audience the topics they would like in audiobook format. Make use of relevant older content from your previous episodes.

Create A Membership Site

You have a very good podcast with a large following. You have a dedicated audience who like your quality content. You can now create a membership program where you provide premium content to members. This can be new topic previews, episode previews, Q&A sessions, some exclusive content, etc. Offer affordable subscription plans to attract more followers to your membership area.

There are even more ways to make money using podcasts. Podcasts are growing in popularity and they’re easy to set up and manage with so many tools available. Pick one of the methods discussed above to start monetizing your content. Find more details on how to make a podcast earn an income for you. Start today.

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