Profit from podcasts step by step

Profit from podcasts step by step

The fun of a podcast is that it can be anything you want: a hobby, a side business, a lucrative business. You might be surprised to find that if you do it right, podcasts can make you a lot of money. In fact, it’s never hard to start turning your podcast into a lucrative business. Once you’ve created a good mass base for your podcast, you’ve already started your first profit move.

Studies show that over 464 million podcast listeners worldwide are expected to rise to 504.9 million in 2024.

In this article, we offer you a comprehensive guide on how to exploit podcast profit opportunities, from attracting advertising to providing counseling and training services, with a focus on key steps and effective strategies for success in this promising area.

Best 9 Ways to Make Profit from Podcasts

– Creation of paid members 

Paid organisms – once a new trend – have become one of the most popular ways to earn money from podcasts. With the paid membership category, listeners can pay to access exclusive content, private Facebook groups or other special features.

Therefore, if you have a large and enthusiastic audience base, creating paid membership is a sure way to make money on your podcast, because listeners will want to have premium content if your content is actually useful, so it’s of mutual benefit.

In addition, for podcasters who prefer independence from branding partnerships, the membership system is a good way to maintain this while still earning money from their show. Or alternatively, if you’ve already earned a profit feature from ads, you can offer the ad-free content option to your paying members.

While the best way to collect subscription fees was to create an account on Patreon, today’s podcasters have plenty of options, with many platforms today providing full control over how content is shared, accessed and paid for while avoiding the exorbitant fees that come with services like Patreon.

– Get sponsorship or sell ads

As mentioned, if you have a large audience or meet the needs of a specific segment of the audience, it will not be difficult to secure a sponsorship deal or announcement. When you sell sponsorship or advertising, you essentially sell a portion of the airtime before, during or after the episode which, of course, will cost the sponsoring company a sum of money.

Statistics show that 86% of people listening to podcasts listen to the entire episode or the bulk of it. This is why the most preferred timing for advertising or sponsorship – and therefore the most expensive – is during the episode where listeners are less likely to skip the ad. Similarly, the end time of the episode is the least effective, and therefore cheaper, location, because most listeners will stop listening or move on to the next episode.

In fact, there are two typical types of podcasts:

In the first type, the broadcaster promotes the product itself. In this case, you will talk about the product or service and share your experience with the public. This option is less annoying for the audience and less disruptive for the cycle.

The second type is pre-registered advertising, where the trademark or company that buys the advertising chip provides you with a pre-registered advertising. All you have to do is put this registered announcement in the agreed number of episodes.

– Join an advertising network

There are many podcast ad networks to make your life easier, linking podcast hosts to brands and potential sponsors, saving you the effort to find them. Advertising networks such as AdvertisingCast, Midroll, Podcorn and PodGrid act as intermediaries between content makers and sponsors.

Revenue share usually follows the cost per thousand views or listening form where you are paid for every 1,000 people who have seen this announcement. Here’s after the payment details. Take a network like AdvertisingCast for example, this network follows a 70/30 revenue sharing model where the podcast host takes 70% of the revenue earned and the network takes 30%. If the podcast has 1,000 to 2,499 listeners per episode, the 30-second ad costs $23 per 1,000 views. After 2000 views or listening, the sponsor pays $46. This means you’ll get $32.20 on the loop, while AdvertisingCast gets $13.80.

Just remember you’ll only get 70% of the total profit from ads.

– Sale of reused content

The term “reused content” refers to taking existing content and adapting it again for new purposes and for a different audience. Instead of creating brand new material, content makers repurpose existing content to expand its reach, improve its relevance, or reassemble it for a new purpose.

This strategy can be very cost-effective, as it allows content makers to benefit from the value of their current content in different ways.

You have already invested time and effort in creating a high-level podcast, now you can copy this podcast or divide it into parts and rehire each part individually. Once you have these parts of your podcast, you can post them in a separate blog form and try to view them on popular posts focusing on your specific area of specialty.

– Post podcast on YouTube

Sharing your podcast on YouTube means reusing it again but this time by posting it as a video rather than a voice. Although recording a podcast video using it is easy, if you are not able to record a video, don’t worry. You can simply post the sound of your podcast with your podcast cover placed as a video image.

You can join your podcast on the YouTube partner program, thanks to which it is easy to earn money from podcasting. Before joining, you have to meet some eligibility requirements as well as the minimum number of subscribers and viewers to join the program.

Posting your podcast on YouTube is an effective way to reach a wider audience, as some may not listen to podcasts on traditional listening platforms but prefer to listen to YouTube podcasts. Here are the most important ways you can earn money from YouTube broadcasting:

– Ad profits: You will receive a portion of the revenue for any ads displayed alongside your content, whether before, during or after the episode.

Paid membership: Like creating paid membership for your podcast, paid membership can be created for your audience on YouTube where a monthly fee is paid for some additional privileges and exclusive content.

– YouTube Premium earnings: When a YouTube Premium subscriber sees your content, you’ll get a portion of their subscription fee.

– Sell your brand products

No doubt everyone prefers to buy merchandise or branded products. So, if you have a distinctive logo on the podcast, you can immediately produce everything from T-shirts to coffee cups. The best thing about branded podcasts is that they work for you twice.

First, selling a physical product is an additional source of income, and second, it is a very effective way to market your podcast for free! Every time a listener wears their trademark T-shirt, they promote your podcast inextricably.

– Creating a paid e-course

If your podcast content is somehow educational, creating an online course is the perfect way to invest your content. Creating an e-course doesn’t require much investment. Your online course can simply compile the content you share on your podcast with some additional practical tips, tricks and tips.

E-courses are attractive to potential buyers because they rely tangibly on results. They know exactly what they’re buying and what they’re going to get out of. In addition, since you already have an audience, it is likely that you will have a large number of applicants once your course is released.

– Doing events

Events are a great way to connect with your audience and monetize your podcast. For obvious reasons, this is a more ambitious and wide-ranging way to make money from podcasts, especially in the case of podcasts that are popular with audiences and have the ability to organize a great effectiveness.

Once you have a dedicated audience that follows you and wants to talk to you, you can start thinking a little bit more and host a full event. The main attraction for the majority of the fan base will be to meet you alongside some other content makers. The nature of your event will depend on the type of podcast you host and the type of audience you follow.

If your podcast is educational, you may consider hosting lectures, workshops or panel discussions. Or if you’re a comic host, you can make a standup offer.

– Sale of consultancy or training services

To monetize podcasts through counseling or training services, start by offering high-quality content that continuously showcases your experience in a specific field, identify and understand your target audience’s needs, and design your episodes to address their vulnerabilities. While giving valuable advice to your audience, promote your skilfully consulting or training services, focusing on benefits without over-promoting.

Next, develop a dedicated page on your website or on social media that includes clear phrases urging customers to book an appointment for consultations. You can also offer free consultation sessions to introduce potential clients to your experience and create exclusive programs or packages for your podcast audience.

Build a community for your podcast and take advantage of email marketing to communicate regularly with your subscribers, and promote your services through success stories and customer testimonials. The most important thing is to strike a balance between the promotional efforts of consulting and training services and providing valuable content so that you are not alienated by the public.

In conclusion, podcasts can certainly be a good way to make money, with some of podcast’s most popular bloggers making millions of dollars each year. However, it must be borne in mind that this is not the case for everyone, as it takes a lot of hard work and many may not be able to turn their podcast content into a source of income.

If you believe in what you are doing and see that presenting your podcast is a journey to enjoy, and you can wait until you reach the required mass base, we guarantee you from the strategies described in this article that you will reach your first dollar of podcasts! Finally, don’t forget to subscribe to our site to receive everything new in the world of Internet profit.