You’ve probably heard about podcasts and how people are monetizing them to help them earn a sustainable income. Given its potential, there is no doubt that many other people are looking to start podcasts and earn money from them. If you are one of them, you have landed in the right place.
In this article, we explain how to make money from podcasting. The one great thing about podcasting is that you can podcast almost everything. Whether it’s a side hustle, business, or a hobby you want to monetize, there are many ways to try. Read on to learn how you can go about it.
Useful Ways to Make Money on Podcasts
You can use various ways to make money successfully from podcasting. Depending on your niche and what you do, some of the ways that you can use include the following:
- Affiliate Marketing
If you are a budding podcaster or running a business, you can earn money from podcasting through affiliate marketing. As the name suggests, this method involves marketing products or services for a company through your podcast. Your work here is to bring listeners to the companies you work for or would like to market.
The companies or businesses you market will pay you for the traffic they get from your advertising or marketing. Notably, earning from affiliate marketing depends on the number of conversions you facilitate through podcasting. The more you increase the number of conversions, the higher the amount of money you make.
Affiliate marketing works well for businesses and is mutually beneficial for both sides. The more your company earns or gets successful conversions, the more you make money for helping them market their products through podcasting.
- Join a Podcast Subscription Platform or Network
Podcast subscription and advertising networks exist and are a great way to monetize your podcast. Once you are on such platforms, you get access to thousands of podcasters, publishers, and networks that will help you increase your audience for more gains.
Without subscribing to any platform, you limit your audience and podcast player, hence losing revenue you would otherwise earn easily. Ideally, a podcast subscription helps you reach listeners and a large pool of audience, including those active on Spotify. That way, you engage with more listeners easily and make money.
If you want a picture of what a podcast subscription earns, look at those using such plans. You will no doubt be motivated by their success and unlock your podcast’s potential. Once you get loyal subscribers, you can start earning from your content.
- Sell Ads and Get Sponsorships
As a podcaster, you can access a large audience and engage actively anytime. Indeed, regardless of your niche, once you establish your podcasting, you have access to a great listenership. With such a following base, it becomes easy for you to get advertising or sponsorship deals that you can earn from.
Essentially, when you sell an ad or sponsorship, you are selling your airtime pre-roll, mid-roll, and post-roll. To increase your earnings, you need to tap the mid-roll as it is the most expensive. Your listeners will hardly skip it for any reason, provided you keep your podcast episodes in their correct and most effective order.
Also, podcast ads mainly come in three types, namely the value-focused type, takeaway ads, and host-recorded ads. Depending on your niche, you can use any of these ads. The most important thing is to master how each of them works.
- Upload Your Podcasts on YouTube
This method involves repurposing or publishing the content you create on YouTube. You can publish your podcast as audio or a video, then upload it on your YouTube channel. Publishing is, however, one thing. You need to go a step further to ensure that you earn from it.
You can use various methods to earn from your YouTube content (video podcasts or audio). One of the options is through a partner program that gives you access to YouTube features and resources that are useful in monetizing content. The other option is earning through advertising revenue, where you get paid for ads displayed alongside your YouTube content.
Also, your podcast gets exposed on new podcast listeners from YouTube. You’ll get followers and subscribers from YouTube if they like your content. From here, you can drive these new subscribers to your podcasting platform to earn more followers and revenue.
- Organizing Events and Conferences
If you are a highly established podcaster, one of the best ways to make money is through events and conferences. To use this method, all you need is to ensure that you can organize relatively big events and conferences.
Live events and conferences are a great way to bring together many people. It is, therefore, one of the large-scale methods of earning from podcasts. You can organize an event that’s relevant to the audience you are targeting, your partners, or your co-hosts.
You can organize events such as panel discussions, standup shows, educational podcasts, lectures, or comedy shows. It depends on the audience you appeal to and your plans. Whichever type of event you organize, you can monetize it and enjoy the growth of earnings and listener base. It works well, though it is a bit more ambitious.
Podcasting gives you the freedom to explore anything you love. Whether it is a hobby, a side hustle, or a business, you can grow it hassle-free. But that is not all about podcasting. The good news is that you can still do what you love and earn revenue out of it. The secret here is to ensure that you are effective in content delivery.
This article has explained how you can use podcasting to make money. You can use one or combine different methods to achieve your revenue goals. Some ways are great for beginners, while others are great for established podcasters. Choose what works for you and enjoy your work as you earn money.