Podcasting is one of the best ways to reach a fascinatingly large audience. The best thing about podcasts is that listeners are engaged to a great extent and are high earning on average. While observing such a huge trend in podcasting, the question that pops up in mind is that how podcasting can help you earn money. Besides, it also bothers us as to how an average podcast downloads may vary if we come across the increasing interest in the phenomenon.
Different Ways in which Podcasts Make Money
While keeping in view the demographics of the podcast, it can be rather attractive for sellers of goods and also services. As far as advertising is concerned, the brokers may sell commercials at a flat rate of $25 to $50 for as many as 1,000 podcast downloads.
A particular podcast episode may comprise 2 to 3 commercial breaks on average. That is why the revenue can accumulate, especially for top shows that have a million downloads per episode.
Let’s discuss some of the ways in which the real-life podcasters are making money through podcasting these days.
1. Podcasts Earn you Money through Sponsors
One of the most prominent ways in which podcasts can earn you money is with the help of companies that are ready to pay in return for their brands to be in front of the podcast’s listeners. However, it is also worth mentioning here and which majority of the podcasters suggest that it may take some time or ingenuity before gaining a paying sponsor.
The majority of the marketers and media planners opt to buy advertising depending upon the number of impressions that their advertisements may receive. When podcasting was a new thing, podcasters would make projections of advertising impressions depending on the number of downloads that each episode may typically receive.
Besides, it may also include several host reading advertisements in every episode. These kinds of manual advertisements are called baked-in host reads, and they will limit the amount of money that a particular podcaster can make from a sponsorship.
2. Finding New Consumers for Products or Services
Some podcasters can easily make money by thinking out of the box and aid through the content production and their podcasts. One of such ways can be to describe as how to earn money by selling your services for $97 per month for a private firm.
Such kinds of outside gigs have famously become a symbiotically useful process for the podcasters as they fulfill the sales consulting gigs and meet with the selling staff in order to help to offer new ideas for their next episodes that they can easily pass on to listeners.
3. Donations and Crowdfunding
Most podcasters opt to fund their labors of love from their own pockets, and a part of them ask their listeners for help. Podcasters can easily lead listeners in variety of ways, such GoFundMe or Kickstarter crowdfunding campaigns.
Besides, it can also be done by soliciting donations being paid to them directly by various other means. All of this is done for the encouragement and continuation of the podcast.
Truth be told, if your listeners fall for your content you offer, they will definitely be willing to fund your vision while helping it to be successful.
4. Podcast and Affiliate Marketing
While some podcasts earn money through ads, there are also certain others that are making money by getting a portion of the income that their listeners may be willing to pay for brands or services being discovered via the podcast.
Podcasts involving the creation of show notes for listeners may include the links to certain products or services that are mentioned during a particular episode. This will include monetized links to specific items through the Amazon Affiliate Program, CJ Affiliate, Ratuken Marketing, and ShareASale, to name a few.
Once the podcaster joins these affiliate programs, the podcaster can easily search for the specific links for certain products that they can easily pass on to their followers while earning a percentage of the sales through those links.
5. Accessing Business People through Private Discussion Group
The best thing about private discussion groups is that they offer access to you as an expert in a particular field. Besides, it also invites other people about whatever you are podcasting about.
It will deliver value to certain people via exclusive access to you and the capability to ask you a direct question while getting answers quickly. Besides, an exchange experience can also be observed among participants.
Being a very interesting method for making money through podcasting, this can easily help you to actually create wonderful opportunities for business and collaboration for the paying clients.
6. Online Courses
Some of the renowned podcasters create their own online courses so as to help people learn about the similar content about which they discuss on their podcast.
It goes without saying that online courses are a brilliant way to help people teach about something in a convenient way where anyone can easily get a special outcome once they’ve accomplished it.
Besides, it also easily helps to have a detailed email list so you can help your audience comprehend about your course not only through your podcast but also through email.
Yet another option to ideally promote courses is through a webinar platform to easily help show the worth of what you offer for about 45 minutes and also offer an online course right at the end.
These types of interactions really work in the best way as people are engaged while also getting interacted with you face-to-face.
7. Paid Content
Rather than choosing to earn from running ads, it can rather be a better practice for podcasters to make money through paid content and subscriptions. Although many podcasts are relatively available to listeners for free yet there is also some podcast that might charge a few dollars per episode.
This can easily be done by allowing certain users to access episodes early or offer their listeners bonus content with an ad-free experience.
There can be so many ways for podcasters to earn money, and with more and more podcasts making waves every now and then, creators can easily find the best way to monetize their podcasts and what they opt to do with their podcasts.
The foremost thing is to start a podcast and then analyze as to what can be the best way to earn money through that podcast. You can easily find the ideal to make money from a podcast if that is compatible with your audience and niche.