Below are some of the most popular techniques for monetizing a podcast, together with the right tips to get it done.
1. Selling Ads Space
Readily the most popular way to monetize a podcast is to sell advertising space. This is easy and straightforward for anyone already used to marketing online. You can sell ads space on your podcast in a variety of ways. Some of such ways include creating and airing paid branded content, through content sponsorships or by airing direct paid commercials. Podcasters can make good money through any of these ways.
2. Sponsorship Deals
This is yet another very good way to monetize a podcast. By this method, the podcaster earns money through sponsorship deals. Many sponsors do not mind paying good money as charges to have their products/services mentioned on a podcast show. For sponsors who can afford to pay, it is possible to have an entire podcast episode dedicated to their products/services.
3. Affiliate Marketing
Affiliate marketing is also a great way to monetize a podcast. Podcasters can partner with businesses, promote and market their products/services then earn commissions from the sales they help generate. For effectiveness, it is best to promote products/services related to a podcast’s chosen topic. When podcast listeners click on the affiliate links on the podcast’s show notes to make purchases, the podcaster earns sales commissions. Additionally, podcasters can partner with other podcasters to cross-promote each other’s shows. All parties earn commissions from this collaboration and partnership effort.
4. Premium Subscriptions
On their podcasts, podcasters can offer premium paid content as another viable way to monetize their podcasts. This premium paid content could be in the form of exclusive interviews, bonus episodes, or other content that listeners can only access by paying some subscription fee. Premium subscription not only helps to directly engage some dedicated podcast listeners, it is one great way to generate some revenue for the podcaster.
5. Sharing Your Content on YouTube
For monetization purposes, you can create a YouTube channel specifically for your podcast. Once created, you can keep uploading your podcast episodes to it. Make sure to include your affiliate links or links to your website in the description. For effectiveness, you can use video annotations or cards to link to specific episodes or segments of your podcast. Be sure to add a “Subscribe” button to your channel and encourage viewers to subscribe if they want to stay up-to-date with your latest content. You earn money by running ads during podcast episodes out of your YouTube channel.
6. Selling Customized Merchandise
You can customize and sell your podcast show merchandise. This is one other viable way to monetize your podcast. Such items as easy-to-handle and common products like Face caps, T-shirts, hats, hand towels, key holders, bottle openers and suchlike products can be customized with a podcast’s logo, catch phrase or slogan. You can brand and sell sunscreens, table mats, bumper stickers, coffee mugs, and any other items with a podcast’s branding. By selling these branded items, you can make money from your listeners while at the same time widely promoting your podcast.
7. Sponsoring Other Podcasts
You can reach out to other podcasters and negotiate collaboration and sponsorship deals. If such deals fall through, you can benefit from the podcasting network. Other podcasters in the network will promote your show to their listening audience while you promote theirs to your own listeners. This way, all parties will get to reach many more new listeners than they would have ordinarily reached with their own audience alone. You can grow your audience from this arrangement, reach more new listeners and make more money from your podcast.
8. Collaborating With Other Podcasters
Through synergy, you can monetize a podcast by collaborating with fellow podcasters. The commonest way to do this is by getting involved in creating a joint podcast or cross-promoting each other’s podcasts. If you collaborate with other podcasters this way, you can manage to reach a larger audience and garner more new listeners to your own podcast. The more listeners you have, the better the chances of your podcast making more money.
Wrapping Up
There are several techniques you can use to monetize your podcast. The foregoing techniques are about the most common among podcasters. What matters most however is to correctly figure out which monetization techniques are best suitable for your brand of podcast. If you deploy these techniques well enough, with some creativity and hard work, it is possible to make good money from your podcasting.
