We know that serious podcasters put a lot of effort into their craft. So if you’re working really hard on your podcast, your podcast might as well work really hard for you too. We often get questions like, “can we really make money podcasting?” and “how would we keep earning money episode after episode?” Since National Podcast Day is just around the corner (September 30th), we decided to celebrate by putting together a list of a few different ways you can monetize your podcast.
1. Sell Sponsorships
Pitch advertising space to small businesses for a fee. The amount of money you charge a business for a sponsorship will depend on the number of downloads your podcast gets per month. When you reach out to a business to ask about a sponsorship, make sure you include these statistics along with your show’s demographics and pricing.
2. Affiliate Marketing
Affiliate marketing is similar to a sponsorship in that you are utilizing time in your podcast to promote another business or product in exchange for a commission. But in affiliate marketing, you would create your own ad space to talk about another product, or just casually mention it during your podcast. If someone happens to buy that product because they heard it on your podcast, you will earn a commission.
3. Offer Classes
Depending on what your podcast is about, you could offer more in-depth classes pertaining to your craft. If your podcast has a lot of listeners who view your podcast as successful and informative, they might be willing to pay for a deeper look into your success.
4. Sell Products
We have one client who is a teacher. Her podcast is (obviously) about teaching and best practices, but when she talks about things she does with her students, she also tells listeners where they can go buy her lesson plans on her blog. By doing something similar to this, listeners want to go buy your products because they see how successful you are with them.
Your podcast has the potential to make you big bucks if you monetize it in a smart way. Everyone’s podcast is different, so playing around with these different ideas will be helpful in figuring out what works for your own podcast.