The great thing about podcasting is that it can be whatever you want it to be: a hobby, a side job, or a profitable business. You might be surprised to learn that you can make a lot of money if you do podcasting right.
What’s good? Even starting to turn your podcast into a business isn’t that hard. You already have the product, so you have to figure out how to use it. This article shows you how to make money quickly and easily through podcasting. Let’s jump right in.
Can you earn money by making podcasts?
Absolutely. But let’s be clear: we aren’t saying that your podcast will start making money right away. Like anything else, you have to work to see results. Getting paid for your podcast is often tied to building your personal or podcasting brand, which will help you in the long run anyway. As long as you have a captive audience, you can make money from podcasting somehow.
How can podcasts make money?
The most exciting thing about making money from your podcast is how many different ways to do it. Keep in mind that different ways to make money work better at different stages of growth. What works for a popular podcast that has been around for a while may not be as easy for a podcast that is just getting started, and that’s okay!
Grow your audience to get advertisers interested
If your podcast has a large following, you should put ads in it. Businesses and brands will pay a lot of money to reach their listeners. To get advertisers, podcasters with a smaller audience need to grow their audience first. This will happen naturally through good marketing, branding, and word of mouth if you put in the work.
Earning money from ads and sponsors during the show
Sponsorships and advertising deals are very profitable and don’t require you to do much. Since these labels and companies are paying you for exposure, they will be willing to pay more the bigger your audience is. If you heard podcasts, you’ve likely heard the phrase “brought to you by x, y, and z.” All of that is sponsorship.
Some podcasting advertising agencies help podcasters connect with advertisers. For a fee, they take care of all the logistics and paperwork. If you have a smaller podcast in a specific area, you could reach out to niche companies that target your kind of audience. There might be a great partner waiting for you.
When should I think about how to make money off my podcast?
You are in charge of this. You might start with no plans to make money from your podcast. Or, you could start a podcast with making money as a major goal. It also relies on what you mean by Earning money from your podcast.
Do you want a few extra dollars on the side, or do you want it to be a big part of your income? How and when you think about making money from your podcast will depend on the answer to this question. We did say that your opportunities will depend on where your podcast is in terms of growth.
5 quick and super-useful ways to make money from your podcast
Build a community
Before you even believe in earning money from your podcast, you need to think about your audience and community. They’re the most valuable thing a podcaster has. But it’s more than just a game of numbers. Building a large audience is important, but building a sense of community and personal relationships is more important.
The ads, affiliate links, and sponsorships you include in your show will likely be well-received if you can build a community of listeners who support you and your podcast. Plus, if your audience is interested, you can charge more to advertise with you.
Strive for equilibrium, and don’t be scared to say no
If you’re on a short budget or required to pay the bills, any chance at making money from your talk show will save your life. But in the end, you know your audio and audience better than anyone else. Try as hard as you can to balance how much money you want to make and how honest your podcast is. Don’t be scared to say no if your gut tells you that a deal or partnership isn’t good for your podcast. A better deal is probably just around the edge.
Record a podcast with a high production value
If you want to make money with your podcast, get lucrative partnerships, and make the most of your brand, you need to record a podcast that meets professional standards. If your podcast lives up to expectations, your listeners and possible sponsors are more likely to stick with it and support it.
There’s nothing worse than bad sound or sloppy editing getting in the way of your style. Use Riverside. FM to record a professional-quality podcast from anywhere in the world. You won’t be disappointed.
Be open to expanding your brand
In a full world, you could make money directly from your podcast through sponsorships and ads, and that would be it. But unfortunately, this isn’t always possible, especially if your audience is small.
If you require to create money from podcasting, you need to be open to other ways to make money. This could mean expanding your brand and the types of content you offer. This could include online courses, coaching, or even recording more episodes that only your subscribers can hear. Don’t limit yourself.
Think about the best way to make money for you and your audience
What works for one podcast might not work at all for another. If you want to make money with your podcast, you need to know your audience and how it works. Different ways to make money will work better depending on how you market yourself, the kind of listeners you get, and what your podcast is for.
For example, if you keep a funny side podcast, making an online course is probably not the best use of your time. Instead, it would help if you tried to get a sponsorship deal. If you teach or coach, it might be the other way around.