HOW TO MONETISE A PODCAST
How to make money from your podcast
When should I monetise my podcast?
Usually majority of people start thinking about monetising their podcast much later on but this should be something you think about when creating your podcast. None the less, this guide this will offer some tips on how you can make money from your podcast regardless of how long you’ve been podcasting.
Podcast Monetisation Strategies
A successful podcasting monetisation strategy involves consistency, and serious resilience.
It’s great to have a goal of making money from your podcast, but you have to be realistic with yourself. If you don’t create a strong demand, even the best monetisation strategies won’t yield the results you expect. It doesn’t mean the strategies won’t work in the end (playing the long game works), rather, set realistic and achievable goals.
Successful monetisation is determined by your podcast analytics. The higher your listernership, the more money you make due to the fanbase you have accumulated.
10 simple ways to monetise your podcast
Below are tips of how to make money from your podcast:
- Create a video podcast to upload on Youtube – Whether you record your podcast from the comfort of your home or a studio, we recommend that you record footage when you’re recording your podcast and post it on Youtube. Don’t forget that some people like watching videos so a video podcast would allow you to attract new listenership while earning you money on the side.
- Join a podcast network that’ll help connect your podcast to the right brands for sponsorship.
- Sell physical or digital products – When an audience loves a podcast, they might be buying merchandise you sell. You could sell T-shirts, mugs, stickers, art digital products etc. Encourage people to leave feedback and shout them out on new episodes or tag them in your social media posts when they’ve made a purchase.
Instantly, a bond is formed which helps maintain a loyal listernership.
Create a ClubHouse account and charge people to enter your rooms.
- Become a host or speaker – People have a perception that public speaking is daunting but if you are a podcaster, you are practically a public speaker. Public speaking or hosting should be a simple transition for a lot of podcast hosts with some coaching. If you’re comfortable speaking on your show, you’ll probably do well in front of a crowd.
- Ask for donations to help cover costs you need covered.
- Sell an e-book or online course – Believe it or not, people love reading as much as they do listening to podcasts. So if you have a valuable lesson or tips to offer in relation to your podcast content, create an e-book or online course for your listeners.
- Create a Patreon account and release exclusive episodes for a fee.
- Visit podcast advertising marketplace, Podcorn and connect directly with brands looking to sponsor podcasts.
Experiment With Multiple Monetisation Techniques
Don’t put too much pressure on yourself. Just like podcast promotion there is no 1 answer on how to make money from your podcast because there are plenty of methods to monetise a podcast.
Finding the right podcast monetising mix requires testing a few different strategies and the trick, however, is to monetise your podcast in a way that doesn’t disappoint your listeners and compliments your content in a meaningful manner. This means finding the monetisation technique(s) that your listeners don’t find intrusive or ‘off brand’. In many cases, that means using a little bit of several techniques, rather than pushing one method too hard.
Hopefully, that’s given you plenty ideas and tips for drawing up your own podcast monetisation plan.
If you need tailored 1-to-1 help on how to monetise your podcast…
Book a free consultation with us today and a member of our team will be happy to help you.
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