Guide to Podcast Monetization Basics
You've been working on your podcast and are producing regular shows, gaining viewers or at least keeping your viewers, and want to know what to do next. I don't know about you but, personally, I like my hard work to result in making money! How does one make money from their podcast? Podcast Monetization!
What does that mean? Monetizing your podcast means using your influence to make money. There's many ways to do this and we will discuss the basics to help you make money, below!
How to know if you are ready to monetize your show
Have you been producing podcasts regularly and having a growing/solid listener base? You are doing all the things: have a website and socials, create show notes, utilize podcast SEO, etc. Fantastic! You are likely ready to monetize your podcast as you've done the work to create steady content and have a listener base that will help you monetize. If you're not sure, Riverside has a great article that covers how to market your podcast.
If you check off all of the boxes and are ready to make some money, there are many ways that you can monetize your podcast.
The ways you can monetize
When deciding the best way to monetize, keep in mind your audience! Do you have a huge audience? Do you have an audience that will come see you in person? Watches YouTube? No one way is perfect for everyone so let's discuss the many different options!
1. promote a service/product (affiliate deals or sell ad space)
If you're okay taking time during your show to discuss products that your viewers can buy you can sell ad space on your show. Another option is to become an affiliate, you won't make money directly from the ad, but when viewers buy the product you will receive a portion of the earnings.
2. tiered content
You may have a solid following and have the time to produce additional content. If that is the case, creating tiered content might be the best option for you! This can be done by using a membership service such as Patreon (i.e. your viewers pay for a membership to view your additional content). This often means that you continue your normal podcast production and monetize by creating additional, locked content that your subscribers can pay you to view.
3. sponsor another podcast
Like selling ad space on your show you can be paid to sponsor another podcast. Of course, you'll want to sponsor podcasts that your viewers will enjoy or the relationship between your show and the podcast you sponsoring may not last. But this can be a great way to monetize and promote a fellow creator.
4. create/sell your own show merchandise
Create and promote your own products, services, merchandise, etc.
5. host live events
Does your podcast cover a topic that you can teach? Host live seminars, classes, etc. and sell tickets to your listeners.
7. donations
Just like with streamers, you can always earn money through your listeners donating! This can be done through Patreon as well or a "send a coffee" type option. This method will only work well if you have a solid listener base.
How to actually set yourself up to monetize your show
Know your audience! The better you know your audience the easier it will be to monetize. Not only will you have a good idea of the best approach to take it will also make selling yourself easier. Yes, you will likely have to sell yourself or in better terms your show. You will need to convince your listeners to buy a product and if you are going the route of sponsoring or selling ad space you will have to be able to convince another creator or company why you are the right person/people to work with. As well as why they should pay YOU!
Remember you are creating content that people enjoy and your time is important. Prepare to share why your audience, your content, and you are the right one to share their product! Stay confident and know your worth and you will find the right way to monetize with the right people!
Conclusion to Podcast Monetization
Monetizing can be a scary hurdle to overcome in the journey of your podcast. But it shouldn’t be! We hope these basics help get you started! As always, if you need help monetizing, we’re here to help! Check out our website to learn more. 😊
Hav
This blog post was updated November 28th, 2023
