How to Monetize Your Podcast

How to Monetize Your Podcast

Mark Raffan

Wondering how to make some money with your podcast? Perhaps you want to earn thousands by having listeners download your thought leadership ideas, or maybe you just want to cover your costs. Whatever your money motivations are, there are many ways to earn revenue with a podcast.

 

Repurpose your podcast onto YouTube

YouTube’s partner program lets users earn money from ads that are placed ahead of or within videos. You can re-post your podcast simply as an audio podcast with a screensaver or logo, or take it a step further, and make your content creation even more engaging. You can do this by creating a video recording of the podcast taping using tools like Manycam, Zoom, or Skype.

Important to note: to start earning YouTube ad revenue, you need a minimum of at least 1,000 subscribers and 4,000 hours of watch time per year. So, it may take some time for this route to start paying dividends.

 

Create paid membership tiers

Savvy thought leaders know that some listeners and fans will pay to play. By creating a special podcast tier, you can earn dollars by making yourself available to coach or mentor your audience members. You can also have subscribers receive personalized e-mail advice or weekly tips. Make sure the content creation is strong and worth the price of admission that you’ll be charging. If you need help with this, consider contacting a content creation service.

 

Set up sponsorships, donations or Patreon options

Sometimes when you want money, you’ve just got to ask for it. When listeners find content creation they love that speaks to them, they’re willing to pay for it. That’s true whether they see that payment as a simple “thanks” or as a way to help keep you cranking out episodes. Using services like Patreon, where you can accept sponsorships or donations, can create a revenue stream that adds up.

 

Sell ads, guest spots & opportunities

When you’re doing content marketing, there’s a myth that you have to have all the answers. Even as a podcast host or thought leader, you are likely savvy enough to know that when others have great ideas, they can benefit you and your listeners. That’s where you can leverage guest opportunities and sell interview segments to other thought leaders. Or keep it simple and have brands and companies you work with regularly buy ads on your podcast. If they have a podcast of their own, you can even trade appearances for mutual benefit.

 

Consider affiliate marketing

Similarly, if there’s an opportunity to create affiliate links if you’re sharing products or services (where you get a commission off any referrals from your audience), make sure you sign up for those options and share the links widely.

 

Turn your podcasts into a book or eBook

Publishing books has never been easier. If you’ve been podcasting for a while, you likely have a rich back catalog of scripts, ideas, article writing, and audio content. Hire a writer or editor to pull all those thoughts and ideas into one place and sell it as an eBook. Or, better yet, slice it up into actionable weekly tips and offer it to your paid or tiered subscribers.

 

Making money off your podcast doesn’t have to be about selling traditional ads. With some out-of-the-box thinking and access to helpful productivity tools, you can easily add to your bottom line by monetizing your podcast.

Mark Raffan

Mark Raffan

Mark is a serial entrepreneur and lover of marketing and influence. Mark built the #1 negotiation podcast in the world and is an expert negotiation, influence, and persuasion coach that has coached executives and their teams in some of the largest companies in the world.