How to Make Money from a Podcast in 2022 (5 Options) |
Are you interested in learning about a kind of media that's ever going to disappear?
Podcasts.
They've filled a social void so many of us weren't able to fill, and especially gave our users access to conversations throughout the epidemic.
More efficient phones, lower-cost data plans and higher top quality audio have encouraged the popularity of podcasts. In our busy lives and hectic schedules, we may not have the time to binge watching our preferred shows, yet they fit into our daily routines no matter where we are. And there's something so rich and intimate about having an audiobook in your ear, speaking right to you.
Whether we're walking our pet, riding the subway to work, or just heading out to our favorite coffee shop, podcasts are convenient, easily accessible and the ideal way to keep us occupied.
Creators have benefited tremendously from podcast monetization too -Take a check out Alexandra Cooper, who signed a $60 million deal with Spotify for her podcast "Call Your Dad."
The good news is that anybody can create a podcast and monetize it. However, it won't be easy though -- when you combine your motivation with consistency and follow-through and follow through, you're on the correct course. We'll equip you with practical guidance that can assist you in determining, "how do you monetize a podcast ?"
If you'd like to receive more assistance for building your online community, come join OUR Mighty Community for free as well as meet fellow new and experienced community leaders! We'd like to get to know you. Sign up at no cost!
The piece...
1. Tips for creating the perfect podcast
1.1. Traffic size
1.2. Find your niche
1.3. The importance of planning and consistency is crucial
1.4. Promote your podcast
2. 5 Options for making money from your podcast
2.1. Paid communities
2.2. Make courses
2.3. Affiliate marketing
2.4. Sponsorships
2.5. Request your audience members to contribute
3.The best method to earn money off your podcast? A Mighty Network
Strategies for creating the perfect podcast
If you're not sure clue where to start when it comes to making income through your podcast, then you're in the right place.
We'll look at a few factors you should consider before you leave your current job. They will assist you in making your podcast a success.
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Volume of traffic
The more downloads you have the more you can benefit from. This is especially true if brands are making money from ads you place for your podcast as well as affiliate sales, because greater listeners mean that the brand is likely to pay more to advertise on their site.
But most new podcasts don't come with 10,000 downloads from the beginning. As you begin by establishing your audience who are enthusiastic about your podcast, you can still earn cash from your podcast.
Find your niche
There is no need to have a degree in an area to run a successful podcast. But, you have to ensure that your podcast is focused. Your podcast could be about pop culture, self-helpor travel, sports, careers or anything else.
Find a topic (and maybe even someone, should you be considering co-hosting) that you're passionate about and are interested in talking about. Your viewers will notice your lack of enthusiasm or lack of interest in the content if you'ren't interested in what you're speaking about.
The word "passion" is often used. However, it's worth having one more times here.
When you pick something you're passionate about, production -planning new episode material, recording and editing -- gets simpler. Your viewers will be able to pick up on your genuine interest.
Be aware that the podcast you're creating isn't a brand: it's your product. By being authentic, you'll draw in like-minded listeners and develop a community that is more likely to want to support your business financially.
Planning and consistency are the most important aspects.
The podcasts that generate income are a commercial. Like any other profitable business, you require a solid plan in order to make profits. The plan should map some of the following: the date you will release your next episode and how you'll drive the audience's interest, what your budget for promotional advertising, etc.
To keep your viewers engaged It's essential to be consistent with releasing episodes. Choose a time (say every Friday) and stick to the date. If you're just starting off, you might be able to have an archive of shows so you're never behind.
Make sure you are consistent in recording your episodes and editing them (there are numerous tools available in the world that will assist you). Your audience will be aware that your show is dropping and will ACTUALLY be looking forward to that day.
Seriously.
Remember growing your fanbase requires time. Be patient with this because numerous podcasters stop their podcasts after just a handful of episodes. They haven't suddenly built up an enormous number of followers. It's important to begin somewhere! To build a community of fans can take months and even many years (just like for any other type of content, like blogs).
Promote your podcast
With such a low threshold to enter, any person could get their message to the world (regardless of their background or experience) However, this means that you're in competition with thousands of other podcasts. The mere act of starting a podcast and releasing it will do nothing to ensure that listeners will be there.
Just as you are determined to release the latest episodes of your show, you have to be equally committed to finding your group of viewers ( knowing the people who are your audience ).
It's not enough to expect your customers to find you without putting into any effort to market (e.g. social media, podcast directories, email marketing, cross promoting).
5 options for making money from your podcast
We've now looked at some suggestions to consider to make a podcast more successful, let's get right to the crux -- how to monetize your podcast!
Paid communities
One way podcasters can earn money is by creating pay-per-view communities. Subscribers can buy access to premium content (since they are already enjoying listening to your show and they want more of it). This could include exclusive video, Q&As with celebrities, access to earlier access to episodes with no ads, streaming live, or private group discussions. Or, they might just opt to join a social network for a social gathering with you and others who are like you!
Monetizing with community is something that Brian Clark did with his podcast: The Unemployable Initiative 7 figure Small. The Unemployable community is the Mighty Network that's made up of "unemployables," solopreneurs and freelancers who "can find a job but don't have the ."
Certain podcasters choose to monetize with communities that offer different membership levels. As an example:
- $9.99/month (where you have early access to episodes).
- $ 20/month (early access to the podcast, ads-free episodes, and exclusive video versions of Podcast episodes).
- $30/month (everything you get in the first two tiers plus Q&As with special participants).
Private groups are also as part of membershipswhich is where select individuals pay a premium subscription to be able to join mastermind groups. This can be where members gather to assist members and collaborate towards a common goal (insights, solutions, and the obligation to follow through). As the host, you will be in charge of this team and supporting your members.
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Create courses
If your podcast is educational or helps listeners learn a new skill, creating courses is an excellent opportunity to earn money through your podcast. You could even develop a course about how to begin a podcast. After all, you'll become proficient in this particular field.
Creating courses for your communities doesn't have to be complicated and can be a wonderful method to start a new source of revenue.
Not sure where to start in creating your online class? Make it simple with One Concept Week:
- Introduce a concept at the beginning of each week.
- Offer a real life example that supports the concept.
- The outline of the action the members to complete.
- At the at the end of the week ask your students to report the results.
If you follow the following four steps (concept and case study, action, and result) you'll get a well-rounded program that takes between four and six weeks your students to complete.
Affiliate marketing
Many companies are beginning to see the potential in advertising on podcasts. They realize that they are able to reach a wider, and specific audience with this type of advertising. It's the reason affiliate marketing is very popular in podcasts. With affiliate marketing, podcasters receive a commission every whenever a listener buys a product or service that is mentioned in the episode. This can be tracked with discounts codes (members are usually offered 10-15 discount on the product or service and this provides them with greater incentive to buy ).
Take note that you won't wish to accept any brand who wants to collaborate with you. Be selective about whom you promote on your podcast and be sure that the brands you choose to promote are in alignment with your values and those of your audience (e.g. it's not logical to market candy while you're a wellness podcast but it may be appropriate to promote yoga mats ).
In addition to earning commissions, affiliate marketing allows the building of relations with companies. In addition, if you ensure you're promoting high quality products and services, you'll gain trust from your clients.
Sponsorships
A different method of monetizing your podcast is by securing sponsorships. These differ from affiliate marketing in that the sponsor is paid for each time you refer to your brand (e.g. the flat amount to talk about them for six episodes) however, the viewers don't spend one cent for them.
If you're listening to a podcast, and then hear a commercial break, that's the case with sponsorship. Advertisements can appear in the first half of an episode or at the midpoint of an episode.
Rates are usually dependent on the number of listeners that you've got and this may not be the most efficient model for you if you have a low number of listeners. If your listenership grows, you can pair this model with an ad-free level of membership, which we've already explained, to maximise your podcast's revenue potential.
Invite your guests to make a payment
The people who watch your show are thrilled by your work So why not get them to help pay for the content through platforms such as Patreon? Your listeners are grateful to see you producing engaging funny, entertaining, and informative episodes, so they'd likely appreciate it if they could give you money to help you continue producing such great videos.
It's straightforward to implement and also to advertise your cause to the public. Be clear about the purpose you'll use the funds for. Need new podcast equipment (microphone, computer, apps)? Are you looking to earn a fee by the company you work with to create new episodes? If you're more "real" you're with your listeners the greater chance it will be that they'll assist you out, after all they're the biggest fan of yours!
The best way to monetize your podcast? A Mighty Network
Here's the thing about monetizing your podcast: You have many options you can pick and choose from. In addition, the public will be willing to pay to see results and change that's why having an Mighty Network can help you along the way!
With the help of a Mighty Network you can offer your customers a rewarding experience with rewarding results all in one place, under your unique brand, and accessible on any device (perfect for when your listeners are in the move). allows you to charge for different membership tiers or courses (or both), and lets you make livestreams, polls, and so much more.
In addition, it is simple to use. In the event that this is the first time you've run an online or membership-based course, you will feel happy rather than being overwhelmed. The Mighty Network will be an ideal space for members to gather and "nerd" out over your content.
Are you ready to make money from your show?