Many people are not happy with their current jobs; they want to discover new ways of making money online while spending more time with their families and friends. It is to help you in this process that I have prepared this article about how to make money with podcast.
You will find in this post different tips that will help you to make money podcasting. These are the trusted and proved tips used by many successful affiliate marketers; you too can use them and make a living online.
Also, you can be more creative and do some other researches online to find other ways of making money from podcasts; the ones listed in this article are not exhaustive.
Don’t fall under the traps of some people who say you can make a good income online selling advertisement unless your podcasts are getting thousands of plays daily.
You can find hereafter the most used methods.
Promote Affiliate Products
Affiliate marketing is a way of earning commissions on sales by promoting the products and services that belong to other people known as merchants. Every time you make a sale through your affiliate links, you will earn a portion of that sale as commission.
In other words, the more sales you will help the merchant you are affiliated with to generate, the more money you will make.
Some people say this way to make money with podcasts was popularized by the well-known podcasters like Pat Flynn, the owner of the Smart Passive Income Podcast.
Affiliate marketing is the best way to get into the world of digital marketing because its barriers to entry are very low. You don’t need massive investment to get started.
Also, this industry helps small businesses to expand their activities as they will reward you with a percentage of the sales you generate.
To decide whether a given product will be of a good fit for your podcast and lead to substantial sales, you will need to answer the following questions:
- Do I need personally to use this product?
- Is the product about my podcast topic?
- Is my targeted market going to appreciate what I intend to share with them?
Some affiliate marketers like to promote the best high paying affiliate programs in the hope of making a lot of money quickly. To me, it is not a good strategy for beginners in the industry.
First, determine whether the products you want to promote fit your brand. It will prevent your audience from feeling like you want to take advantage of them.
Also, try to find affiliate products that meet the needs of your target market and their power purchase. It will motivate them to take the further step and become customers.
The benefit of joining affiliate programs through affiliate networks is that they have databases of thousands of products from which you can find your preferred niche products and start promoting them.
Also, it will be easy to manage various programs through the affiliate network instead of doing it individually.
You can open a ShareASale free account and choose the best affiliate products to promote. This platform will provide you with a series of tutorials to guide you through the process.
You can also sign up for the Amazon Affiliate program if you want to sell the products listed on this platform. You will get a percentage of sales every time people click on your affiliate links and make purchases.
Provide Consulting Services
Given that many people all around the world will use your podcasts to get solutions to problems they feel, you will more and more become experts in your field, even if you still doubt it.
Consequently, you can take advantage of your expertise to share your knowledge and insight to people that need help. You will then charge the services rendered.
When providing coaching services, be prepared to work with people individually or per group, share your knowledge, and help them overcome obstacles in subjects you are comfortable with.
You can charge between $100 and $1,000 or even beyond per session. It will depend on the covered topic and the number of participants.
Participants will be egger to happily pay this amount because once they acquire the necessary skills and implement them, they will get a higher return on investment.
To make this method of making money with podcasts works for you, you will need to cover the topics you feel comfortable with. Also, try to make your client’s life better by working with you.
Once you have identified the nature of consulting you want to offer to your audience, do not forget to mention in your podcast that you are starting to work with people to reinforce their capacity building.
As time goes, you will be surprised and happy to find that many people from all parts of the world come knocking on your door eager to work with you.
Sell Your Own Products
This is a strategy that takes more time and effort to produce results compared to selling affiliate products and services. You first need to make or create what you want to sell. However, it can also be profitable because you will keep all the profits.
The better way to make money with podcasting using this method is to write an ebook on a topic about your podcast. You can put together an online course that tries to solve the needs of your listeners or help them solve the problems they feel.
Since many people are experts in their fields and appreciated by their listeners, they like to conceive their own products and sell them online.
A good example is Rick Mulready, who hosts a podcast about how to use Facebook ads to grow your business. Besides, he offers online courses to help you implement all the strategies discussed in his podcasts.
Also, a gentleman named John Lee Dumas, the “Entrepreneur on Fire,” used his valuable knowledge to conceive one of the most successful episodes in the podcasting industry. He managed to earn seven-figure income from that business alone.
If you want your audience to appreciate and adopt your products, try to provide more in-depth than what they can expect from your various episodes.
It is like writing excellent blog content that interests your audience. You will sometimes spend hours putting everything together, but in the end, you will be rewarded once your post gets ranked in the first pages of the search engines and found by the targeted market all around the world.
To better sell your product, ask your fan base to opt-in to your email list in exchange for a free PDF document. You can later turn that idea into a fully-fledged product.
You can use your podcats to sell things like t-shirts, hats, and so on, just put something people will find funny such as stickers, coffee mugs in your podcast’s logos.
If you have a lot of fans or listeners, they will love wearing your podcast swag. It can be an excellent way to let many other people know about your products because your fans will share their loved episodes on social networks, other community groups, etc.
To do this, you can use a print-on-demand service products that will avoid you holding inventories. You will create them when you receive orders.
These kinds of products will prevent you from handling orders, shipping products, and managing their returns as well as customer service. All you need is to upload your designs, set up your online store, and send people to check it out.
You can use the Printful platform to offer a wide range of products. Its owners will enable you to upload your artwork and print it on anything from t-shirts, bathing suits, Phone covers, and many more.
Request Support To Your Listeners
This is a strategy used by many people like radio station owners. They ask their listeners to support them with monthly donations. It is an excellent way to make money doing podcasts.
An example of the most popular fan-funding site is Patreon; the owners of this website will allow you to spend about an hour tweaking your page. You will then generate exclusive content and bonuses to provide to fans that accept to give you donations.
Once you have the content and bonus, the next step will be to promote them on your podcasts. Some people will accept to offer you a monthly support fee of $1, $5, and $20. The more listeners will commit to donating, the more monthly income you will make.
Having a consistent income from your audience can be an excellent motivation to focus on making great podcasts. Also, it will avoid you trying to make money with advertisements that are not profitable.
To ease the task of making money from podcasting, you can join a podcast hosting platform such as Buzzsprout that integrates among its features a “Support the Show Link.” Also, do not forget to add your PayPal account that your listeners will use to support your episodes.
What Is The Best Podcast Hosting Platform?
There are many podcast hosting services but the most popular podcast hosting platforms Podbean and Buzzsprout. These platforms will provide you with everything you need to create and host profitable episodes and monetize them.
Podbean is a podcast publishing and monetization service. It will provide you with free and premium hosting packages and enable you to become a professional podcaster.
This platform has a user-friendly interface that integrates publishing, management, syndication, analysis tools, and any other useful features.
Podbean will enable you to publish, manage, and promote your podcasts in a point-and-click with minimal technical knowledge. Also, it will allow you to integrate your podcasts into your websites, blogs, and social networks.
Also, this platform is one of the most popular podcast apps for Android and iOS. You can even use it to play podcasts via Amazon Alexa.
Podbean will help you to become popular because your audiences will find their favorite podcasts quickly, wherever they reside in the world. You can open an account now and start using the Podbean services free for 30 days.
>> Start a Podcast, Free for 30 Days, at Podbean.
Buzzsprout is the best way to publish your podcast online and get found in all parts of the world. It is a secure and reliable hosting company that integrates a full iTunes support, shows statistics, HTML5 players, and many more useful features.
In brief, this podcast hosting platform has everything you need to publish and promote your podcasts professionally. The Buzzsprout podcasting plugin will fetch your episodes from your Buzzsprout feed URL and enable you to embed them on your page or post on-the-fly.
The owners of Buzzsprout will let you use its services freely for 90 days without paying a penny. You will then upgrade your account if you want to keep using its services, but it is not a requirement. The basic package costs $ 12 per month.
As a premium member, you will get a $20 Amazon Gift Card, which will be sent to your account after paying your second monthly bill.
You will also earn the same $20 Amazon Gift Card for every premium member you refer to the company that stays in good standing for two consecutive months.
Buzzsprout will allow your episodes to reach millions of listeners all around the world. You can list them in different directories such as Apple Podcasts, Google Podcasts, Castro, Spotify, iHeart Radio, TuneIn, PocketCasts, Podchaser, Stitcher, and many more.
>> Start a Podcast, Free for 90 Days, at Buzzspout.
My Final Thoughts
It is the end of this article that tried to describe in detail five tips on how to make money with a podcast. I hope it will help you make more money online and enjoy the freedom of digital marketing.
You can choose some of these strategies and implement them, they all work. Just select the ones that fit your audience and focus on mastering them.
Also, to enable these strategies to work, you need the best podcast hosting service provider. Just choose between Podbean and Buzzsprout; they are the most effective and popular in the podcasting industry.
Finally, before I leave you, I would like to thank you for taking the time to read this post. If you have some questions or comments, you can leave them at the bottom of this page.
It will be a pleasure for me to get back to you as soon as possible.