How to Make Money Podcasting ( 5 Podcast Monetization Strategies)

in this video I'm going to show you how you can use your podcast to make a thousand dollars a month even if you have a small audience whether you're starting your podcast as a passion project or as part of your business marketing at the end of this video you'll walk away with a plan of action and super motivated to start making money with your show and if you don't have a podcast yet I'll advise you to keep watching because starting a podcast with this money making strategies in place is the best thing you can do to monetize faster we also have a free training where we teach you how to find and grow your podcast audience you can find the link for the registration in the description below or go to podcasting smart.com hello I'm Veronica and I'm part of the bad sounds cool team where we teach you how to make content that generates leads and makes money we specialize in podcasting and video podcasting so if this is your jam hit the Subscribe button so you can keep coming back to me okay are you ready let's get to the first lucrative way of making money with your podcast and that's brand sponsorships Brands and businesses these days pay top dollars to put their products and services in front of specific audiences currently we're seeing a shift where big and small businesses are investing more money in sponsoring independent podcasters like you and me instead of spending money on traditional forms of advertisement like paid ads because independent creators have a closer relationship with their audiences they've been building trust and nurturing their relationship with their listeners and followers by posting content and showing up consistently even more so if you have a podcast I've said this before and I'll say it again having a thousand and podcast listeners is more powerful than having a thousand followers on social media when it comes to monetizing your audience why is that Veronica because my friend it all comes down to attention for how long how frequent can you keep your audience's attention attention is currency these days people get lost on their smartphones sometimes going back and forth between apps and tapping on notifications that is becoming increasingly hard for Brands to keep the attention of their target audience for more than a few seconds unlike social media podcasting has the incredible power of keeping listeners hooked for the duration of an entire episode so if you have an audience of 200 listeners who share similar characteristics and traits because they are super niched your conversion rate can be potentially higher than an Instagram creator with thousands of followers who are not niched and when I'm talking about conversion rates I'm talking about the percentage of your listeners who would become clients or purchase something from you also very important is to have an Engaged audience you may not know all of your listeners but they feel like they know you this is called parasocial relationship podcast listeners develop a close relationship with their favorite host and follow more recommendations and suggestions this is why you might be sitting on a gold mine of opportunities without even knowing so what do I do Veronica start reaching out to Brands and businesses that would be interested in putting their products and services in front of your audience find the contact information for their marketing department and shoot that person a DM or an email telling them about your podcast and your interest in creating episodes highlighting their products be thoughtful and clear in your communication and highlight how excited you are to introduce your product or service to your audience also don't forget to include your podcast analytics and use the same argument I presented about why you have a small but Mighty audience you can condense all this information into a one sheet or Media Kit by the way let me know in the comments below if you'd like me to make a video about how to create a Media Kit I have reached out to Brands personally and even the ones who have said No at the beginning have come back later because that by reaching out I put myself on the radar for future opportunities so don't wait any longer make a list of potential Brands you will love to work with and reach out before you reach out however make sure that you have your audience's best interest and mine you have worked very hard to develop your trust with your listeners so only reach out to brands with products and services that can benefit your audience and that you have tried personally or are excited to try and if you keep watching I have a cool surprise at the end of this video that will get you started sending those emails also when you land your first sponsor don't forget to add disclaimers about your collaboration so you are in compliance with Federal a law I have an episode on our podcast content Jefe where I talk about how to stay in compliance with the FTC when you're creating sponsored content I'll add the link to the episode in the description or you can click on this I think right here to go watch it another lucrative way to make money from your podcast is by packaging and selling your intellectual property online so it sounds more complicated than it is let me simplify it you identify a problem your audience has and you create a solution so they can go from point A to point B you may be doing this already with your business maybe you have a digital course or an ebook you're selling to your audience if this is the case I want you to create a special offer only for your podcast listeners adding more value in the form of a one-on-one coaching session or a mastermind or a more intimate event I can guarantee you already have people in your audience that are willing to pay more to get more value out of you because you've been building that relationship with your listeners the exciting thing is that maybe you're already doing this with your podcast you have a good amount of episodes under your belt so you are very aware of the struggles your listeners have and the things that they need help with the only thing you have to do now with your expertise is to create a solution for their particular problem this is exactly what we did when we launched our podcast after a while we realized that people in our audience needed help with audio production and marketing we simplified and streamlined both of these things for them and created a program with an easy to follow framework to record edit and launch a podcast and it has been our best selling course since so what do I do make a list of the problems you identify from your audience if you don't know find a way to gather this information by creating a Google form or survey and add a little reward or incentive for those who take the time to provide the answers after you have gathered a list of problems your audience has start our brainstorming ideas about how you can provide a solution if you have experience in the subject you can create and package the solution in an online course coaching session ebook or downloadable audio or video then you can create a sales page set up a form of payment and a way to give your audience access to the digital product I personally have purchased courses ebooks and templates created and recommended by podcast host of my favorite shows we have made thousands of dollars in our business just by packaging intellectual property and solving problems for our students and clients now here's a caveat creating online courses or putting together a coaching program takes time and effort but after you have created it this will become a very lucrative way of making money online and my friend this is the definition of passive income you put a lot of work up front creating the digital product sales Pages marketing emails and setting up your funnel but then you sit down and watch sell cells come in as your audience and influence grow and another fun way of making passive income with your podcast is through affiliate marketing and it's as easy as adding a link to the description of your episodes affiliate marketing is a very easy way to start making money the way it works is instead of advertising and selling your own intellectual property you sell other people's services or products for a commission the money you make from affiliations will grow as your audience grows we started making very little money with our affiliations and now we make thousands in affiliate money every year so Veronica how do I start well first make a list of services and products you know your audience loves then reach out to companies to see if they have an affiliate program or a commission based sales program and ask how you can sign up for it when you sign up as an affiliate you get a unique link that tracks your sales at the end of a period or when you reach a certain amount of money you get your missions directly into your bank account affiliate commissions rank from five percent to twenty percent but always explore the possibility of negotiating a little bit more with the brand the worst case scenario is that they tell you no but you sign up for it Anyway remember that there are hidden opportunities only for those who dare to ask another good place to start is Amazon you can sign up for the Amazon associate program so you can start earning commissions every time your audience buys something you recommend it from Amazon or if you already have a social media following you can sign up for the influencer program so you can have your own storefront with products you recommend from Amazon Amazon makes it super easy to sign up for their Associates program to earn commissions for the products your audience purchases using your unique link the good thing about Amazon is that they carry all kinds of products and you earn a commission from anything they add to the shopping cart using your link cool right if you have an interview podcast and your guest has a product or service they want to promote on your show you can ask if they can get you a commission for helping them sell their stuff and you can also ask for a discount for your audience and then the next thing to do is to talk about the product or service in your episodes and this is very important when you do don't forget to add a disclaimer informing your audience that you are earning a commission for each purchase they make using that unique link your listeners will appreciate you are being transparent and also feel like they are helping the show by using your unique link and listen every single one of your podcast episodes or any content that you post online should include your affiliate links and your episode should always include a call to action inviting your listeners to go to the episode's description another way to make money if you have an Engaged audience is by posting premium content directly to Spotify and apple podcast as part of initiatives to help podcast creators to make money with their content Apple podcast and Spotify created a way to allow premium and bonus content behind a paywall so your listeners can listen to exclusive content for a monthly subscription fee before having any of these options directly on the platforms podcast creators who are using other platforms like patreon to upload and distribute premium content and although patreon offers other features to engage with your subscribers to premium content like like video and an interface where you can reply to comments if you are only offering premium content in audio form uploading your premium episodes directly to Apple podcast may be a better option for you another reason why offering premium content directly on Apple podcast is a great option is that your listeners can subscribe with a click of a button most Apple users have a form of payment attached to their Apple ID to purchase apps or are already paying for another subscription listeners don't have to leave the app and go to a browser and open a page and create an account and add their credit card information to enjoy premium episodes they can do it right there on the app to start offering subscriptions the only thing you need to do is to create an account with apple podcast connect if you don't have one already join the Apple podcaster program and follow the instructions to set up your subscriptions the good news is that you can keep using your current host for free content and use apple podcast connect to upload your bonus or premium content Spotify also allows podcast creators to offer paid subscriptions directly on its platform unlike Apple podcast you must host your show on anchor.fm to access this feature anchor is a free podcast hosting site owned by Spotify so what do you do so look at your show analytics and see where most of your listeners come from if most of your listeners are listening on Apple podcast then uploading premium or bonus content is what you should do another income stream you can Explorer is running ads on your podcast episodes if you have a small audience running ads on your episodes may not be as lucrative however some ad placement companies don't even consider your podcast if you don't have thousands of downloads Androids usually range from 15 to 50 CPM for a 60 second ad CPM stands for cost per mile meaning that for every 1000 downloads you get on one of your episodes you get between 15 to 50 dollars this can seem so unattainable and Out Of Reach if you're only getting 200 downloads per episode I understand but if you have a super niched audience you don't have to wait until you hit those numbers to reach out to businesses in your industry and offer them an odd spot in your show well set a reasonable fee for your pre-roll mid-roll and post roll these are the places where ADS are usually placed remember that minerals are typically higher in price because this is where your audience is engaged age the most in the episode surprise your art spots accordingly write a proposal template describing your audience in detail your show analytics your audience retention and if you have data about your conversion rate add it to the proposal and send it directly to companies in your industry and this takes me to another way you can make add money with your podcast and that is YouTube if you've been posting your podcast episodes on YouTube or you have a video podcast and have more than 1 000 subscribers on your channel you can sign up for the YouTube Partner program and set up your channel allowing YouTube to run ads automatically on your videos I know many creators posting their podcast on YouTube that are making thousands of dollars a month in ad revenue and if you don't know what it takes to create a video podcast and you want to create one we have a playlist right here with video showing you how we do it and besides making ad Revenue you can also ask for donations it is as easy as asking your audience to click on the super things button right here and they'll be able to adjust how much money they want to donate you can record your podcast live and enable Super Chat so people can donate to your show you can also make money on YouTube by creating a channel membership where members can make recurring monthly payments in exchange for special perks that you offer or you can offer cute merch right here on your channel so fans can browse and buy products from your store here on YouTube and as I promised at the beginning of the video because you're such a good student and you're here with me I created a downloadable PDF with all of the information I cover in this video and more resources for you you can find the link by going to the description box right here and helping you find a way to make money with your content is what I feel most passionate about this is why I curated this playlist with all of the videos where I talk about how to make money with your podcast and how to make money online you don't want to miss out on this opportunity go watch it

Channel: Pod Sound School

Views: 25,151

Keywords: digital products, digital product ideas, digital product ideas 2022, how to make more money, how to make $100 a day, how to make $100, passive income, how to create passive income, make 1000 dollars a month, make money podcasting, how to make money podcasting, podcast monetization, how to monetize a podcast, make money online, monetizing a podcast, ways to monetize your podcast, ways to make money podcasting, make money online 2023, how to monetize your podcast

Id: EUQN1BSCn4Y

Length: 15min 41sec (941 seconds)

Published: Thu Dec 08 2022