After spending so much time working and marketing your podcast it is understandable that you would like to earn some sort of revenue from it. While many people podcast just for the fun of it, some have been able to make it their primary source of income.
Whether this is done by advertising for a website they own and are trying to monetize or from commission for a product or service they provide affiliate links for, getting paid for all the work you put in on your show is certainly a goal to have.
How You Can Monetize Your Podcast
Sponsorships and ads
If you’re getting more than a couple of thousand downloads per episode of your podcast, people will be interested in paying you to advertise their product or service during your show. You can decide how much you want to charge for advertising space during your pre-roll, mid-roll, and post-roll. There is no exact price for recorded ads since there are so many variables to the type of ads you can do.
Remember though, the more downloads you have, the more you’ll be able to charge.
Try signing up for websites like Advertisecast, Podcast Delivery, and Podbean. There you’ll be able to create a profile and give some insights into your show. Advertisers will be able to search for specific shows based on the metrics they are looking for. You might even be selected for a campaign!
Build a mailing list
If you’re not sure what you’re going to do with your podcast show and don’t want to appear like you are spamming people endlessly, use your platform to collect emails. You can either ask people to submit their names and email addresses before watching your show or offer some sort of incentive during the podcast.
For example, offer a discount for a product or service to each new sign up.
Once you become ready to take the next step, you can use this data to promote your website and podcast to people you know are genuinely interested.
You can review books, movies, and products in your podcasts and leave a personal affiliate link in the description. When people click on this and buy any products, you’ll receive a percentage of the sale.
There are a few websites online that provide this service like Amazon Associates, Linkshare, and Gumroad. Certain blogging websites use this method as a main source of monetization and bring a steady source of income every month. You can even affiliate with audiobooks at Audible and some podcast services like Anchor.
Asking for donations
If you’re podcasting as a hobby or are starting out and have less than 1000 downloads per episode this can be the most effective way to monetize. Don’t be afraid to ask your listeners to donate a couple of dollars. You can easily do this on platforms like Buy Me a Coffee, Twitter Tips, Ko-fi, and Patreon. Your regular listeners will be happy to give you some money to help with running and hosting your show.
Don’t forget, you can reach out to them for donations on top of what you are making from your website and podcasts.
Selling products and/or services
Certain creators might be already selling products and services alongside their podcast. Using the podcast as a self-advertisement platform becomes an interesting way to generate revenue. Using the podcast to talk about your products and services can allow you to explain and describe what service or product you sell.
You can show your products to a large audience of listeners without having to spend time and money on advertising. Having an audience base of eager customers is often the best way to sell a product or service, and there’s no better way to do this than through regular podcasting.