Podcasts are a medium that has become increasingly popular in recent years. It is among the most important marketing channels in organic content marketing. One of the reasons for this is the monetizability that podcasts now bring with them.
In this article, we explain what options are available in the field of monetization for podcasts or how to earn money from a podcast.
How do I build a podcast?
Creating a podcast involves several steps, below is a brief overview of the most important ones.
Choose a theme
Choose a topic that you are passionate about and knowledgeable about. Think about the type of audience you want to reach and what they might be interested in.
Plan your content
Decide on the format of your show, the length of each episode, and how often you want to release new episodes.
Invest in good equipment, such as a microphone, headphones, and a digital audio recorder. The quality demands are now so high that you should rely on professional equipment.
Find a quiet place to shoot and make sure you have a backup plan in case there are technical difficulties. In the long run, if you have the means, you should aim for a dedicated studio setup.
Use editing software like Audacity or GarageBand to edit your footage and add music, sound effects, or intros/outros. Meanwhile, there is also the possibility to outsource this step via Fiverr, Upwork or Freelancer.
Find a hosting platform for your podcast, such as SoundCloud, Spotify, or Apple Podcasts.
Promote your show
Use social media, your website, and other marketing strategies to get the word out about your podcast and build a listenership.
Try to maintain a consistent publishing rhythm and make sure your content is of high quality to build a loyal audience.
Remember that building a podcast takes time and effort, but with a well-defined concept and a consistent approach, you can create a successful podcast.
Earn money with podcast – TOP 5 ways
There are several ways to monetize a podcast. Here are the 5 best ways to make money with a podcast.
One of the most common ways is to sell advertising space to sponsors. You can offer advertisers mid-roll ads, pre-roll ads or post-roll ads.
You can partner with a company and include their product or service in your content for a fee. A well-known example of this is the hosting provider Dreamhost, which has been working with Marketing School, the podcast by Eric Sui and Neil Patel, for years.
You can create exclusive content for your listeners and offer it for a fee. This may be an extended version of the podcast or a behind-the-scenes broadcast. Often such content is offered in a membership area on one’s own website or a provider like Patreon.
Merchandising / Own products / Services
You can sell merchandise like t-shirts, mugs and caps to your listeners. Depending on the niche or topic, it can also be higher-quality or more specialized products such as nutritional supplements, software / apps or the like. But also services like coaching or consulting are valid opportunities for monetization.
You can promote products or services and receive a commission on sales made through your unique affiliate link.
Remember to educate your listeners about any commercial relationships to build transparency and trust.
You can use platforms like Patreon to receive recurring payments from your listeners in exchange for exclusive content or early access to new episodes.
Problem: Conversion rate
One of the main problems with podcasts is still the conversion rate. Because placing a link to the sales page of the product or service is unfortunately not possible. Unlike YouTube, blog, or other channels, listeners have to enter the URL themselves, or take a roundabout way to click to the podcast’s profile and open the description there to get to the link.
In summary, it is quite possible to make money with podcasts, provided you have the necessary number of listeners in a certain subject area. Once this is achieved, you can include pretty much any product or services as long as it fits the target audience and content of the podcast.