4 Ingenious Ways You Can Monetise Your Podcast Even As A Beginner.
By Ayandola Ayanleke
In case you are wondering why podcasts are becoming increasingly popular these days, yes, people are making money through podcasts. If you want to start your podcast or you have started your podcast, and you are yet to monetise your podcast, you have come across the right article. In this article, we will show you 4 fool-proof ways to make money from your podcast.
But before we go into that, let’s look at ways to properly position your podcast because no matter how effectively you try to monetise, if your podcast is not rightfully positioned, it will be a wasted effort.
Ways To Properly Position Your Podcast
- Create Well-Researched Content: You want to get an audience and keep them coming for more but if it doesn’t seem like you know what you are talking about, you will lose them faster than you got them. So, before creating any content, make sure it is well-researched, educative, and informative.
- Find Your Niche And Target Audience: Many content creators fall into the trap of wanting to create content under a niche that is not for them because they feel it is lucrative or popular. The truth is you might not get as many followers in certain niches but if that’s what is for you and you can get a few quality followers, you are better off than in a niche where you are struggling.
- Get Listed On Major Directories: Make sure your podcast is listed on the major directories such as Spotify, Google Podcasts, Apple Podcasts, and Pandora amongst others.
- Have A Podcast Website: It is not enough to get listed on podcast directories, you should also have a website that serves as an office to manage all other information concerning your podcasts.
- Market On Social Media: If you don’t tell people what you do, there is no way to know. Post your content on social media and when you have built a following, make sure to engage them.
- Create A Freebie Package: This is the best way to increase your listeners and create an email list. All you have to do provide something for free that will interest your audience. If you want to know more about creating the right freebies, you can read this article.
Once you have all these covered; you are ready to learn the ways to monetise your podcast because you have rightfully put the horse before the cart.
You can use podcast ad networks, such as Midroll and Authentic that manage ads for podcasters. They manage all aspects of the advertising, so you literally have to do nothing but provide your podcasts and get your money. However, there is usually a requirement of at least of 5,000 or 10,000 listeners before they work with you. Alternatively, many podcast hosting platforms have their own ad networks that you can leverage if you use the platform to host your podcast.
Another way is to create paid premium content. The idea behind creating premium content is to make sure that the free content is substantial. If there is a little or nothing to desire about your free content, they won’t look forward to the premium content. Some ideas of premium content include additional materials, courses, ad-free content, BTS, video content, eBooks and so on.
You can also get people to pay for books, courses, webinars, additional materials or provide services that are related to your niche. If you have any skill that you know people desire, especially from engaging with your listeners, you can monetise it. You can also monetise providing coaching or consulting on topics in your niche or on podcasting generally based on your experience.
Affiliate marketing is a great way to monetise your podcast. There are different ways to make this happen. If you have the audience to get sponsorship, that’s great but if not, you could take advantage of platforms, like AffiliateNetwork, ShareASale, and FlexOffers amongst others, that provides affiliate marketing programs. On these platforms, you can search and join programs that suit you. Typically, it is important you use the products or services you are advertising, so you can talk about them more organically.
Well, there you have it! Now, you have no excuse not to monetise your podcasts. However, remember that Rome was not built in a day, so contrary to popular belief, there is no quick way to make money anywhere. But if you apply all you read here and with enough patience, you will make money over time.