5 Ways to Monetize Your Podcast
Author: Jenae Strickland-Nunn
Even though some use podcasting as a way to get their voices heard, podcasting can become a profitable passion project. Podcasting is a lot of work and why not get paid for the work that you put into your passion project. Before you think about monetizing you must consider a couple of things. First, make sure you have at least 10-12 episodes of your podcast so you can establish your voice. Second make sure you’ve built a small community around your podcast to have a decent listenership to start with. Once you’ve done these two things you’re ready to start exploring the ways to monetize your podcast.
Sell sponsorship/ ads
Selling sponsorship is the most common way to monetize your podcast. You can tell a podcast has a sponsor if you hear “This episode is brought to you by…” or they find a way to incorporate the product into their podcast topic. Some hosting platforms, like Anchor.fm, make it easy to monetize by providing you with ads that fit your podcast. For instance the following websites connect you with sponsors based on your show analytics:
Podcorn.com
Advertisecast.com
Trunative.com
Midroll.com
A majority of these sites expect you to have a minimum listener/download count before they will match you with sponsors; hence, you may want to start off small. Try sending your add sheet to your local small businesses that may be opening soon.
Patreon
Patreon is a great and easy way to get donations from your audience for your show. It creates a space where you can offer your donors different levels to contribute to your show, where you offer them Patreon exclusive items such as merchandise and episodes.
Merchandise
Selling Merchandise doesn’t have to be a hassle, with sites such as Printful.com its easy for you to design t-shirts, coffee mugs, stickers, hoodies, etc. You can add your shows logo or popular phrases you say on your show and create merch to sell. The best thing is Printful takes care of printing and shipping, all you have to do is have great customer service. This is an easy way to generate money, you can also use it as leverage for giveaways and it’s another way to promote your podcast.
Public speaking
This can be a simple transition from podcasting because you are already used to speaking to an audience (even if it’s technically virtual). If you are a podcaster you already know how to write and tell a story. Your experience in podcasting gives you the framework to create a 20-30 minute presentation. Here’s how you can start:
Figure out what the going rate is for a public speaker in your niche
Find local groups that meet and discuss your topics
Call and pitch your topic, but you have to be open to change for the groups specific needs. Also let them know you intend to promote your podcast
Create a presentation that is based on the approved topic.
You will probably start small in the beginning to once again gain an audience (much like podcasting). Use the small experience to help perfect for the bigger stage.
Promote Affiliate Products
Companies have affiliate programs that will help you earn a certain percentage of money for promoting their products. You can sign up for an affiliate link and when your listeners use the product you can receive some type of compensation. Audible has an affiliate program that gives you $15 for each new member who joins using your link. Podcast hosting sites, like Buzzsprout and Libsyn are also a part of the affiliate game but they help match you with companies that would be right for your podcast.
Overall
There are many other ways that you can monetize your podcast. The examples above are quick and easy. Mix it up and experiment to figure out what works for you and what your listeners will like. Whatever you do make it fun and easy for you.