5 Ways to Make Money Podcasting

5 Ways to Make Money Podcasting

Many people dream of getting into the podcasting world. Take a look at our tips!

Podcasts are similar to radio programs made by ordinary people, with varied talking points and duration. 

But, instead of a traditional radio broadcast where you select the station you want, you only need to open an app and select the podcast you wish to listen to, which is usually divided into episodes.

Although they’ve been popular for years, podcasts really started trending in 2019, when their growth was so huge that it was called the “year of the podcast” in the UK.

And since this expansion should continue, making money podcasting will become increasingly common. That said; if you’re thinking about starting your own project and wish to know about the best ways of monetizing it, just keep reading!

How to have a professional podcast

In order to get your project started and monetize it, it is essential that you follow the correct sequence.

This means that you need to make sure that your podcast is professional, by investing in its production and taking care of a few important details. Only then will you be able to charge for the content and thus, monetize your podcast.

One of the most successful podcasts, for example, The Joe Rogan Experience, which has been running for over 10 years, gets millions of downloads per episode.

With so many giants in the market, competition for the audience is huge. In this sense, those who present well-produced and interesting content come out ahead.

To help you with this, we’ve listed below what you need in order to guarantee a good production.

Use quality equipment

In order to produce your podcast, you need a good microphone. Actually, this is the most important piece of equipment you’ll need to get your podcast started.

In podcasting, the main thing is your voice. Therefore, since this is a format where people will be listening to you, it is critical that the audio be clear.

Since you’re taking the first steps, you can forget about using the most sophisticated microphones for now, using one that can isolate ambient sound and capture your voice with quality.

In addition, you’ll need a computer, good internet connection, and a quiet place to record your podcast, without sound interference.

Bonus tip: Always test! There are several programs, such as Audacity, which is free, and you can easily check the quality of your audio.

Structure the project

You already know what podcasts are; you have a lot of knowledge about a given area, and even know what equipment you’ll need in order to mage the “magic” happen. But, this still isn’t enough for you to be able to make your podcast profitable.

Can you just decide to record? Yes, you can. The main thing is that if you want to turn this into a business, it is essential that from the beginning you view your podcast as a project and get it organized. 

That being said, certain items need to be sorted out, such as:

  • Defining the content’s overall topic according to the audience you wish to reach
  • Organizing the main formats that you’ll use, such as individual presentation, interviews, talk show with other people, and so forth
  • Choosing a good name and creating a brand, so that it can be properly recognized as it grows
  • Creating a script with a well-developed topic, an audio intro, a presentation of the topic and guests, how the topic will be covered, transition audios between one item and the next, etc.

The more professional it is, the greater the chances of making your podcast profitable. 

Study and improve yourself

Monetizing your podcast will require that you always look for ways to grow and improve yourself, either with new production formats or by improving your voice and presentation.

Therefore, never stop:

  • Studying and improving your knowledge on the topic
  • Taking care of your voice by taking oratory courses, learning vocal warming up techniques, frequently drinking water, among other actions that can help improve your voice intonation
  • Analyzing the market and checking if your listeners are enjoying your podcast, if they are suggesting improvements and changes, and if there are other areas and topics that can be addressed
  • Innovating and paying attention to podcast trends and formats, such as the use of storytelling techniques.

The better prepared you are, the greater the chances of your podcast being effectively profitable.

Do your marketing

In order for people to know that your podcast exists, you need to advertise it, right?

First, use social media by creating pages for your content and promoting the releases and topics through them. You can also create a website for your podcast, so that you can centralize your brand and organize unique sales actions.

It’s also very important that you invest in audio SEO, inserting in your Podcast, the keywords people search the most about the topics and subjects you’re going to address.

Few people know this technique, so it’s worth investing in it. You might even get your podcast placed at the top of the search results page.

5 ways of monetizing your podcast

Unlike what many people believe, there aren’t only one or two ways to make money with podcasts. Actually, there are several.

You can use only one or all of them; it’s up to you. But, it’s important that you know all of the options and evaluate which one makes the most sense for your strategy.

Below are the 5 forms, check them out!

1. Ask for voluntary contributions

Asking your listeners to contribute voluntarily, with either a fixed amount or free contributions, is a good way of ensuring the continuity of your Podcast.

A good example is the The Duncan Trussell Family Hour podcast, created by comedian Ducan Trussell. He now has a full library of episodes and asks for sporadic and monthly donations to maintain activities.

On the Podcast’s website, he has created a “Support” tab, where you make a contribution using platforms such as Patreon and get exclusive content in return. 

2. Offer advertising space

Another way of making money with podcasting is talking to companies, brands or businesses related to your topic and are interested in advertising during your podcasts.

In order for this to work, it’ll be necessary that first you produce podcasts for a while, gather information about your audience and build a strong portfolio of work.

Then, look for partnerships, including their ads within your episode scripts, as if they were radio or TV advertising spots.

3. Obtain sponsorships

This action is similar to the previous one, with the difference being instead of offering a spot within your content and running an ad, a brand or business invests in your production in exchange for your guarantee that you will mention that “brand X sponsors this podcast”.

Sponsoring podcasts is always interesting for companies and businesses who are growing, since it allows their brands to be advertised to an audience that is compatible with the solutions offered by the podcast.

This action will also require that you organize a solid portfolio in order to attract sponsors, in addition to carefully organizing your script and other information also..

4. Selling the brand’s physical products

This is a great option that you can develop as your podcast grows and becomes stronger, generating a brand with great added value, where you create alternative products to be sold, such as apparel, accessories, mugs, etc…

This is the case of The Joe Rogan Experience, which sells shirts, duffle bags, and even socks with the podcast’s brand.

You can make money with contributions, sponsorships and also sales. Cool, right?

5. Selling exclusive content subscriptions 

Finally, you can condition access to your podcasts as a subscription product. 

This isn’t only a great way of monetizing your podcast, but it’s also one of the safest options, since ads and donations tend to be sporadic.

A good idea here is to use Hotmart Sparkle to monetize your content. With the app, you can easily create a member area, so that your audience can subscribe to your podcast and receive exclusive content.

Another option is creating premium communities, where you can offer other products and services besides your podcast. 

And all this with the assurance that your listeners will always know when you post a new podcast episode. This is because Hotmart Sparkle delivers 100% of your content to your audience.

Follow our tips and get to work!

Creating podcasts can be a great alternative for those who wish to distribute relevant content on the internet and share their knowledge with the public. And turning this into a source of income isn’t as hard as it seems.

In this post, you were able to check out a few tips on how to make money podcasting. So, put all of them into practice and never forget that the key to success is to offer relevant content to your audience.

If monetization is a current concern of yours, check out this blog post with 5 ways to make money with your digital product by humanizing things first!

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