Many people start podcasting as a hobby, a tool to grow their brand, or even to build a media empire – but did you know that there are full-time podcasters? Yes, you can make a living by being a podcaster – so podcasting can make money! And in this post, I’ll talk about seven ways to monetize your podcast!
Now, before I share, please remember that generating income from your podcast takes time and effort. This won’t happen overnight, but with consistency and the right strategy, you can start earning an income from your podcast.
Now, let’s turn your voice into value!
Sponsorship and Advertisements
Yes, sponsorships and advertising are the first thing that comes to mind when people think of how podcasting can make money. How this works is that a sponsor pays you to promote their business, product, or service during your episodes. The rates usually depend on your audience size and engagement. Or if you want to pitch your podcast to different businesses, you can set your rate. That’s what I do.
There are different types of ads you can do in your podcast episode. There’s the pre-roll or before the episode starts, the mid-roll or during the middle of the episode, and the post-roll, which is after the episode ends.
The ads can be dynamically inserted, meaning they change over time or are read live by the host. Having the host record the ads is more personal and engaging, and also it’s evergreen because it will stay on the episode. These are the ads I offer to my sponsors because I believe they provide more value.
You can sign up for platforms like Podcorn to connect with potential sponsors. Sign up even if your show is still growing.
Keep in mind that sponsors value niche audiences. Even with a smaller audience, as long as they are engaging, you can still secure sponsorships. This is how I got sponsors because my podcast is very niche-specific.
Listener Donations
Sometimes you’ll get listeners who just want to support you and the work you’re doing. They love your content and see the value you’re bringing, and are willing to make a donation. Set up a way for your listeners to donate with platforms like:
- PayPal
- Buy Me a Coffee
- Ko-Fi
For example, here is my PayPal set up so my audience can donate to the podcast. Other podcasters who have donations set up offers like bonus content, shoutouts in their show, or behind-the-scenes content as a thank you. These are ideas and suggestions to help you.
Building a listener-supported show creates community and loyalty, and every dollar will help support your show!
Premium Content and Membership
Another idea is to adapt a Netflix model for your podcast and offer exclusive content through paid monthly or annual memberships. Within this membership, you can offer:
- Bonus interview or content
- Early access to new content
- Ad-free episodes
- Private Q&A sessions or livestreams
You can set this up with platforms like Patreon and Substack. Those platforms make it easy to create premium content behind a paywall. For example, I have a paid subscription option for my audience to support my podcast on Substack – it’s $10 a month, and they receive exclusive content, Q&A sessions, and ad-free episodes.
Build a solid relationship with your audience, and they will want more of what you’re creating. This is the best way to set up a membership for your show.
Selling Your Product or Services
Using your podcast to promote your own offers is incredibly powerful! If you’re a coach, creator, small business owner, or author, your podcast can be your funnel.
You can sell:
- Podcast Merch
- Books or eBooks
- Online course or digital products
- Consulting or coaching sessions
For example, I have a Stan Store set up with digital products to help those who wish to start their podcast or grow their podcast. You can schedule a consultation call with me if you have any questions about podcasting.
Don’t think you have to be super salesy either, just share stories and valuable content, and sprinkle in how your listeners can go deeper by purchasing a digital product, or downloading your freebie.
Affiliate Marketing
Do you talk about tools, books, or products on your show? Check to see if they have an affiliate program to join. You can include your custom link in your podcast show notes, website, and email newsletter for your podcast.
For example, I have an affiliate link for WhisperTranscribe – which is the AI tool I use to write shownotes and blog posts for each podcast episode. If you click on that link and sign up for WhisperTranscribe, I can receive a commission check from $2.00 up to $570.
I’ve also signed up for affiliate marketing with Amazon, so when I share a book recommendation, I usually include my affiliate link.
Lastly, I have a referral program for my podcast course. If you refer someone to take my podcast course and they sign up, I’ll pay you $50 as a thank you for the referral. And you can set up your own affiliate marketing this way, too.
Stan Store has one also – if you want to use them for your digital products, you can sign up for their $99 a month plan and create affiliate links for your products, but also for their store. Meaning, you’ll get an affiliate link for Stan Store and if someone signs up with your link you’ll receive a commission.
The key to this being successful is recommending products you genuinely love and use because your audience will be able to tell when it’s not authentic.
Live Events and Virtual Summits
Do you want to help people launch their podcast, or maybe you have your own services you provide? Why not host a live event or virtual summit? This is another way podcasting can make money!
Here are the ways to make money from events:
- Ticket sales and VIP access
- Sell event replays
- Sponors for the event
- Sell merch or exclusive downloads
For example, I am hosting my first live event for my podcast. It’s a networking event and celebration for the 3rd year of the podcast. For this event, I’ve been able to get sponsors and sell tickets.
I’ve also hosted my own virtual webinars, teaching people how to launch their podcasts and improve podcasting SEO.
YouTube
Repurposing your podcast on YouTube can be another way podcasting can make money! Yes, this will take time and effort, but YouTube is a search engine, and your content will gain traction long after it’s posted, like years after!
Once you’ve met YouTube’s requirements for monetization, you can start earning money through:
- AdSense
- Channel Membership
- Affiliate links in the descriptions
Make sure your episodes are visually engaging!
Conclusion on How Podcasting Can Make Money
Podcasting isn’t a get-rich-quick scheme, but with intentional strategy and consistent quality content, you will make money.
And you don’t have to pick just one method. As you’ve read, I have examples for almost all of these methods. Think about having multiple sources of income.
Questions to ask yourself:
- What aligns with yours goals?
- What does your audience want more of?
- What feels exciting to try first?
Money is out there; you just need to build the bridge between your mic and your mission!
Let me know in the comments which method you’re going to try first, and if you have any questions – set up a consultation call with me!
With Love, Heidy
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