A podcast is a recorded audio file that an audience can subscribe and download to their smartphone or tablet. They can then listen to it as they wish. Although podcasting is provided free of charge, most podcasters want to get some financial return for their efforts.
Smart podcasters regularly discover new ways to make money with a podcast. Here are 5 proven ways for you to try.
1. Create an email mailing list
A podcast is an excellent way to build a list of people who are really interested in your niche or market. You can ask people to provide their email address before downloading the podcast, or offer some kind of free bonus during the podcast. For example, you can propose a report or checklist related to the subject of your podcast. With this data, you can then promote your products and services by e-mail.
2. Affiliate Marketing
This is one of the easiest ways to make money with a podcast. You are simply recommending products and services that you believe offer good value to your audience. Companies that sell the items you recommend pay you a commission when someone buys something from them. You do not need to stock products or deal with customers. You essentially act as an affiliate for this company, earning commissions when something is sold.
3. Sell your own products and services
Many companies produce a podcast to support their website and help them market their products and services. Video podcasts are particularly interesting in this regard, as you can show your prospects how things work without them having to write explanations to interpret.
4. Sponsorship and advertising
You will need to get several thousand downloads per podcast before companies are willing to pay sponsorship fees for your podcast or advertise their products and services during the program. You can determine how much sponsorship or advertising space you want to request on your podcasts, but the more downloads you have, the more you will be able to bill.
If you offer your podcasting knowledge and expertise for free, don’t worry about asking your listeners to contribute a few dollars. If you offer great value to your listeners, your regulars will only be too happy to give you money to help you run your podcasts.