by
Lanre Elufisan on Lanre Elufisan
5 Ultimate Ways to Monetize and Grow Your Influence Through Podcasting
If you have ever wanted to start podcasting; this simple guide will help you get started today.
You see, in podcasting, the most important thing is to focus on your audience especially when you are starting to build your brand – and you should keep it in mind that it will take some time. But once that is taken care of, you’re good to go.
It is not wrong to monetize your podcast because in reality many podcasters really want to know how to monetize their show.
Podcast monetization is not a bad idea once you have built a strong brand and audience.
In this article, you will discover five methods you can use to monetize your podcast.
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Advertising
This is the most obvious one with every media platform. In podcasting, advertising could come in form of sponsorships. However, new podcasters do not get this easily because advertisers consider high traffic shows.
Getting paid through adverts on your podcast show might take some time until then, focus on growing a huge following.
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Affiliate Sales
Affiliate sales are a great way to start monetizing your podcast. It is much easier than finding a sponsor for your show. Keep in mind however that you have to get approved to sell as an affiliate for most products.
As simple as being an affiliate is, it is a little bit risky because it means you have to endorse other brands and whatever happens to their reputation affects you too.
So, therefore, ensure to believe in a product or service before you promote it.
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Product and Services
If you have products and services to offer in the marketplace, podcasting gives you the opportunity to expose it to your audience without paying.
As an indirect way of monetizing podcast, this is one method every podcaster should look into. It is the same method used by Rainmaker.FM.
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Membership sites
Creating a closed membership group or subscription based forum is another way to monetize your podcast. With this, you will be able to build a tribe out of your ‘large audience’.
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Consulting
Podcasting makes it possible to transition into offering consulting services in an area of expertise. It makes you an authority in your space and earns you influence.
Closing Thought…
There is no other way to start podcasting than to start but there are a lot of ways to start making money from your podcast.
These 5 methods are the surest means of monetizing a podcast, the question is, which of these would you use?
As you think about it, remember that the most important thing in podcasting is to focus on building relationships with your audience and other influencers.
Or what do you think?