Many podcasters dream of the day when they can quit their and go all-in on their passion project. But how do you actually make money from your podcast? And what are the best strategies for monetizing your podcast? When it comes to making money with your podcast, selling advertisements is often the first place people go. Simply put, unless your podcast is getting 50, plays or more per episode the best way to make money isn’t through selling ads. Many popular podcasts are funded through podcast sponsorships, mainly in the form of the «host-read ad» where the podcast host talks about a product in one or several of their podcast episodes. If you have your own podcast or record with a co-host and have the flexibility of choosing your monetization strategy, you’ll be more successful trying one of these alternative strategies. Pro Tip: Make sure your podcast is listed in all the major podcast directories including Apple Podcasts formerly iTunesGoogle Podcastsand Spotify to maximize the size and reach of your podcast audience. This model was popularized by podcasters like Pat Flynn, host of the Smart Passive Income Podcastbecause it can you make money on apodcast the emphasis away from «how many downloads can you get? Smaller businesses lean on affiliate marketing to expand their business because they only have to pay you for the sales you generate, so they’re making money no matter how many products they end up selling. When deciding if a product is going to be a good fit for your podcast which will lead to more sales and a more substantial cut for you ask yourself the following questions:.
These top financial podcasts will help you build wealth the right way.
Some people say that traditional podcasting i. At best, podcasting a good way to express your passion about a hobby and share some information with friends, right? But the reality is that the demand for audio-only content is increasing and the most popular way to consume this type of content is via a podcast. Though podcasting has been around for quite a long time now it just seems to be hitting the mainstream which means now more than ever is a great opportunity to start your own podcast, build an audience, and make money doing it. Well, the information economy is getting more and more crowded with the latest technology, and video certainly has its appeal. However, at least for now, podcasting retains some advantages over video. For example, people cannot watch video while driving, working out at the gym or outdoors note: if they are, they are not working out! And these are the times that are extremely popular for people to get in their daily fix of their favorite podcast. And some people just prefer to consume their content via audio over other methods like text or video. If you are interested in starting your own podcast just to share your passions or create a podcast to make some extra money or even create a full time business! When selecting the topic of your podcast there are two directions you can go; you can go with a very big mass market audience or you can go with a narrow niche audience. Simple, because they work! A solid niche makes it easier for you to define your ideal audience as well as the types of sponsors and advertisers to target. There’s also less competition making it easier for you to claim your stake in the market. Another advantage of choosing a niche market for a podcast is that you can more easily commit to a specific point of view. People like to listen to podcasts with attitudes and if your niche market is «Style for Women Over 40» for example, you could take a point of view that stands against the anti-aging culture and instead talk about aging with sass and style.
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I usually always recommend targeting a niche market when starting an online business, creating a YouTube presence, or creating a blog If you start a niche market-based podcast, you can always grow the scope of the podcast to reach a larger audience; but as far as starting a new podcast it will be a lot easier to build an audience and following more quickly if you speak to a very specific niche audience. Again, keep in mind is that you can always start by targeting a smaller segment of a larger niche market to gain market share and build an audience, then as the podcast grows you can expand into broader topics within the larger market.
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However, most folks forget that Joe started his podcast back in It took him ten years to achieve that success. However, if you’re patient, you can earn a reasonable amount of income from your podcast. Here are some ideas! Their website describes it best: «Fans pay you a subscription amount of their choice in exchange for exclusive content. Recently, some high-profile Patreon users have been leaving for a variety of reasons.
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A lot of people are also now successfully using podcasting as an additional revenue stream for their businesses and for themselves as individuals. With the CPM cost per impression model , your show will get:. Some may not consider relationships a profitable element within the podcasting world. Ilunga, however, disagrees. Before running after sponsors, take a look at the products and services your business is selling already. Is your product relevant to the people who tune in to your show episode after episode, week after week? If the answer is yes, think of ways you can strategically leverage your podcast to increase sales. An exclusive discount for your audience could contribute to an increase in sales. Start looking at your show in a more strategic way and think of it as a marketing tool that can help you turn listeners into subscribers, and turn prospects into paying customers. In Booked , best-selling author Josh Turner discussed an appointment—setting system that builds around social media. Are you a business coach with a podcast?
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Another example from Sam Harris combines Patreon and live events where when you become a Patron you can early access tickets to his live events. That’s why earlier on we recommended targeting a smaller niche market for your podcast. The initial setup and investment will be the hardest part of getting started, but once you’ve done a few podcasts you’ll have a system in place that makes creating and distributing a podcast very easy and streamlined. By showing that I knew what I was an expert on the topic, people knew that they would get expert-level ad management. The opinions expressed here by Inc. A small niche market is much easier to get started in and gain traction. But the reality is that the demand for audio-only content is increasing and the most popular way to consume this type of content is via a podcast. Online Business Basics. Whether you’re an entrepreneur , a middle manager, or someone focused on self-improvement, podcasts allow you to learn something new while you work out, commute to work , or finish everyday tasks. Instead, you help or guide them on how to improve.
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Many podcasters get approached maje speaking gigs in their industry. I’ve especially enjoyed the interviews she’s had with various entrepreneurs and thought leaders—like Simon Sinek—all being very candid about their experience with money. Did I miss any monetization methods that you use? They even give you the ability to have a separate paid-only RSS feed, which ties in nicely with the next method to make money podcasting…. Advertisers and sponsors essentially demand two things: an attractive product and a large, dedicated audience. Hosting events is not only a great way to make money, but bring together your best fans and bring them even more value.
1. Podcast sponsorships
Thinking of starting a podcast and want to know how podcasters make money? Subscribe on Apple or Google Podcasts. Affiliate marketing or performance marketing is where you get a commission when you refer people to other companies. You will typically earn money when someone makes a purchase. Affiliate marketing works best when you promote products or services that you use or are familiar with, so you can authentically promote. Or you can naturally include a mention of a product or service as you deliver your regular content.
There are affiliate programs for nearly every popular product or service. Amazon is one of the more popular programs, or you can also join a network like ShareASale where you can search and apply to join specific programs. Using a plugin like Lasso is highly recommended. This allows you to create short links that redirect to your special tracking link among a bunch of other useful features. This makes it easy to say a short, memorable URL on your podcast. Pretty cool if you ask me!
Update: Buzzsprout recently added an affiliate marketplace to make it as easy as possible to make money with your show:. You can read all about it in this detailed blog post. If you want to learn more about how to do affiliate marketing honestly and effectively, check out this amazing apodcat free affiliate marketing guide by Pat Flynn. They do all the work of finding advertisers, negotiating rates, getting the script, and.
You mke need a larger audience of at least 5K or 10K listeners per month to work with. One of the largest ad networks is Midrollanother popular network is Authenticand many of the podcast hosting companies have their own networks as.
Another option that can work well if you have a smaller or more jake audience is to reach out directly to companies that would be a great fit for your audience. It maoe to have an email list so you can let your audience know about your course both on your podcast and through email. Check out the best email service provider for podcasters.
One example from me: I have a course called Podcast Website LaunchPad where you can learn to create a podcasting WordPress website like this one. Also, check out these courses to learn podcasting. I used to analyze and critique online ads on a podcast and the service I offered was Google AdWords and Facebook Ads management. By showing that I knew what I was an expert on the topic, people knew that they would get expert-level ad management. Instead, you help or guide them on how to improve.
You can ask for donations to help support you and your podcast. More entertainment-focused podcasts would be a good fit to monetize in this way. A common platform for accepting donations is Patreon. They make it really easy to offer additional content or bonuses depending on the amount of money people support you. They even give you the ability to have a separate paid-only RSS feed, which ties in nicely with the next method to make money podcasting….
Premium content can really be anything you want, but some of the common ways podcasters offer premium content are with:. Have fun coming apodcsat unique ways to deliver additional value mak your community for a few dollars per month. The Daily Wire is a podcast and news site that offers the video version of the podcast, live episodes, a tumbler, and youu bonuses when you purchase an annual subscription.
No matter what you think about the content they offer, this is a great example of premium content. Hosting events is not only a great way to make money, but bring together your best fans and bring them even more value. Another example from Sam Harris combines Patreon and live events where when you become a Patron you can early access tickets to his live events. The Generation Why Podcast offers a ton of different productsplus premium content, and a very active Patreon page.
Leveraging a popular podcast into book sales is another excellent way to make money and increase your authority. You can use your podcast audience to get those initial sales and reviews that will help your book stand out. Many podcasters get approached for speaking gigs in their industry. It makes sense that if someone likes the what they hear on your podcast, you would most likely be a good fit to speak at conferences and live events and get paid to do it. Speaking is another great way to increase your authority as well as getting exposed to a new audience that will hopefully become future podcast listeners.
As you can see, there are many different ways to make money from podcasting. Combining a few different ways is a popular approach and you can always change and adjust your monetization methods over time. Did I miss any monetization methods that you use?
Or do you have alodcast favorite? Let me know in the comments! Here is an interesting and useful analysis of top-earning podcasts on Patreon. What is clear is that consistency and longevity play a large role in how much money people make podcasting.
Ross Winn is the founder of Podcast Insights, the industry-leading podcast education site. He has helped thousands of people start and grow a podcast and loves to test out new gear yo software. For Podcast Hosting Buzzsprout. For Web Hosting Bluehost. For Email Marketing ConvertKit. Want to listen while browsing the site? Join The Discussion.
Should I Start a YouTube Channel or Podcast? (Pro & Cons)
Podcasting makes money from blankerwahnsinn. Additional statistics prove the trend toward podcast listening increasing even more, especially among the older U. The hundreds of thousands of folks asking Google how to make their own podcasts and seeking information about czn much money podcasters earn may discover a gold mine behind a microphone. New podcasters may make next to nil when they create their initial episodes and work on building listeners. However, tried-and-true podcasters who have built a skyscraper-load of avid fans over the years tend to make considerably more money.
1. Affiliate marketing
The YouTube star noted that since the H3 podcast airs live apodcqst Twitch and has 48 emotes, makw enjoy a minimum of 6, subscriber points. Ads revenue from joshuaearle. Podcast listeners are comprised of demographics that can be very attractive to sellers of goods and services. One podcast episode may average 2 to 3 commercial breaks, therefore the revenue can build, especially for top shows such as Freakonomics Radiowhich has on average more than 1. Various age brackets may be more or less valuable to ad brokers. Makd reported by Edison Research in Can you make money on apodcast Podcast Consumer reportall of the important demographics increased, but most of the growth in podcast listening was credited to Americans aged 12 to
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