As a warning, if you’re thinking about starting a podcast to earn money, you need to know several things. First, your podcast won’t get famous overnight (at least not right away).Podcasters rarely make any money from their podcasts. Rarely! So lets discuss How to monetize podcast.
One can accomplish the task. The work has been completed. However, it is rarely achieved without much work and effort.
Almost no podcaster succeeds without a lot of dedicated work and effort.
A notable exception is someone who has already developed a name for themselves somewhere else (a sports figure, an actor, a singer, etc.).
You might wonder how to monetize podcast if you plan to start one. As you might know, there are quite a few different ways for you to turn your podcast into a money-making machine, even if it is merely offsetting your podcasting expenses or simply supplementing your other sources of income.
Here are some of the ways that you can use your podcast to bring in some extra income through your podcast.
Also read:- How to Write Your Ad So That It Sells
Some Easiest way of how to monetize podcast:
It’s Possible to Get Sponsors
Sponsorships are a common way to make money with your podcast. Sponsors are businesses that wish to promote their products or services.
Usually, each podcast episode will have no more than one sponsor.
In either case, you will mention your sponsor once or multiple times during the podcast.
There won’t be more than one sponsor per episode in most cases.
In particular, if a website sponsors you, you might say something like, “Welcome to (Name of Podcast), this episode is sponsored by (Company).”
That will get their company name mentioned, and then you might finish up by talking a little about the services they provide.
Then, in the podcast’s conclusion, you can repeat the sponsor and include a call-to-action asking your listeners to visit the company’s website or find out more about the company’s services.
As an affiliate marketer
Affiliate marketing involves promoting products that have been created by someone else. You will receive a certain percentage of all sales made through a unique link you provide to your listeners (usually in the show notes) from people you referred to that company or person.
If there is a product related to a topic you discuss in your podcast, you can include a link to that product in the show notes and on the blog post where you discuss the issue (We discussed this in a previous blog post).
A Specific Product or Service is Mentioned
Some companies don’t just want you to mention their name. It’s similar to getting sponsors. Please note a specific product or service that they provide. As a podcaster, this is one way to earn money from sponsorships.
This process works well if your podcast episode discusses a topic relevant to the product, just like affiliate marketing.
If you discuss politics, you would not want to mention a health product. In addition to not making sense to your audience, the sponsor will also not be happy.
Donations are welcome
Donations are a common source of income for podcasters. You can either rely on direct donations or use multiple sources of income for the podcast.
The editor can note donations in the description, or you can link to the podcast on your website (without actually mentioning it). With the donation option, you can give people the opportunity of supporting you in making more podcasts without charging them a subscription fee.
By providing subscribers with exclusive podcasts
It is not something that every podcaster will do, but you can try it and see how it works for you. For example, there might be mostly free podcast episodes and exclusive podcast episodes that people have to pay to listen to.
Your paid subscribers will receive unique content in addition to standard episodes. For example, you might provide a detailed tutorial or information that you don’t want readily available to everyone in your podcast.
It would be nice to have a special guest. For example, maybe someone will provide exclusive training for your listeners. You have developed an affiliate arrangement with the guest to provide training usually charged for. However, instead of a typical affiliate fee (for products sold through your podcast), they will charge you for their services.
Now You know how to monetize podcast in numerous ways. You should not rely solely on one method. It is best to test one for a few weeks or months. Then move on to another. After several months of testing, your listeners will tell you which program works best. It is often a combination of two or more techniques that yields the best monetization results.
Robert Thibodeau has worked in online media since 2010. During the time he has been doing his online radio shows and podcasts, he has recorded almost 4,000 episodes and conducted more than 600 interviews. The podcasting expert has helped numerous people to launch their podcasts (many of which have earned multiple awards for podcasting).
If a customer clicks the link and purchases the product, you earn a commission from whatever the seller has negotiated with you. Therefore, a successful way to advertise to a new market is this.
By sharing affiliate links with their listeners, some podcasters make a lot of money.
Now I hope one and all knows How to monetize podcast.