Podcasting is a fun way to connect with many thousands, perhaps even many hundreds of thousands or more, of people, and you’re able to talk about whatever you want – if it interests you (and ideally if it interests others) it could be the topic of your podcast.
Of course, as much as this can be a great hobby, it’s also something people turn into a nice business, and it’s that switch that’s really interesting – it won’t necessarily be easy, and there are sure to be some challenges, but the rewards can definitely be worthwhile. With that in mind, here are some ways to make money from a podcast so you can see if it’s a viable option for you; read on to find out more.
Sponsorships And Advertisements
One of the most common ways to make money from a podcast is to get some great sponsorship deals and have advertisements in your podcast for customers to listen to while they’re listening to you. Of course, you can’t just get these things without being able to show that you’re a good podcast with plenty of listeners, so that’s what you need to work on first – building up your listener base.
To build your audience, you’ll need to create high-quality content that has plenty of information in it, and you’ll need to work out the best way to promote that content as well. You’ll also need to do the reaching out when it comes to sponsors (if and when you get really big, they’ll come to you, but that’s not going to happen right away), so look out for businesses that match your ethics and how you work, otherwise your customers might not be interested and you could lose the deal (and lose customers).
Crowdfunding And Donations
Something else you can do, which can certainly help grow your podcast initially, is to use crowdfunding platforms like Patreon. This means that listeners will pay a monthly amount (it can be as little as a dollar, for example, but that will quickly add up if you can grow your audience) and in return they’ll get exclusive content, behind-the-scenes information, merch, and other incentives.
If you’re going to do down this route, that exclusive content has to be really good, and people have to know about it. Make sure you mention your Patreon every time you release a free podcast, and ensure people know what they can get for their monthly donation. You can even give then sneak previews of what they could get to get them excited and make them want to join in – the fear of missing out can really help with this, so use it where you can.
Merch Sales
Selling merchandise is another great way for podcasts to make money, and to do it you’ll need to design some fun items like t-shirts, pins, hats, tote bags, notebooks, and so on. You can then set up an online store or add a store to your current website (which you should have so people can learn more about what you do and what the podcast is all about), and as long as you talk about the merch regularly, you should make some sales.
You can also take the merch to conventions and sell it directly to your listeners. You’ll need a good payment system to do that, so it’s worth taking some time to read a point of sale guide for business owners to get all the information you need to make the right choices for you and your listeners.
