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Five ways podcasters can coin it with their content

So, you might have noticed that your podcast has gained quite a large following. And now you’re probably wondering if you can make your passion project a platform that you can profit from — right?

The answer is: Yes, you can! And there are many ways to do it.

But if you aren’t quite sure what your options are or which option you should pursue, we’ve got you covered!

Stick around as media update’s Lara Smit is weighing up five ways that you can make pennies from your podcast right here:

1. Get cash savvy with subscriptions

Up until this point, you might have made your podcast freely available to anyone who wanted to listen. And although this is an excellent way to generate interest in your podcast and build a loyal following, it doesn’t help you make that moolah you’re after.

Therefore, a simple way to start profiting off your podcast after you’ve obtained an audience is to set up a subscription model for your content.

Many audio platforms that help you publish your podcast, like Apple Podcasts and Spotify’s Anchor, make the process of setting up a subscription where users pay a small fee for your content on a monthly or yearly basis extremely simple and intuitive.

But if you’re wondering how you can still get new people interested enough to click that ‘subscribe’ link, these platforms also give you the option to establish a ‘free trial’ option. This is to give users a little taste of your content for however long you are willing to permit it. The period can range from anywhere between three days or up to one year.

And suppose you’re a bit apprehensive about making your content inaccessible to fans who aren’t willing to pay a full subscription for it. In that case, they also allow options where you can just make select content available on a subscription.

For example, Apple’s ‘Freemium’ option lets your audiences access your content for free while allowing you to ask them to pay for a subscription to content that you characterise as premium’ like:

  • ad-free podcasts
  • behind-the-scenes content
  • interviews, and
  • early access to content.

It’s as simple as one, two, free! (Although four might not be anymore).

2. Be your own salesman

As we know, podcasts are a great way to help spread awareness for your existing businesses. They allow you to share industry insights and secrets while establishing your authority in the industry space that you are operating your business in.

After listening to your podcast, potential clients now know that you know what you’re talking about. So, it’s really in your best interest to start using this platform to promote the services you can offer them using your expertise.

How do you do that?

Give them a bit of insight into what your business has to provide them with and examples of how you may have helped previous clients meet their goals in the past. Then let them know how they can get in contact with you so that you can help them in the same way.

3. Obtain a salary from sponsorships

By garnering an audience for your podcast, you’re essentially creating a niche pool of people who share an interest in a field that businesses in a related industry can tap into. So why not strike up a sponsorship deal with these businesses where you can promote their offerings in relevant episodes of your podcasts?

This will help brands communicate marketing messages to their target audiences and give them the support and backing of a voice that this audience trusts. Who wouldn’t want that?

So what would you be required to do for this sponsored content?

Most podcasters start their sponsored episodes by relaying a short message about the brand that is sponsoring them and why audiences should consider their offerings. However, these brands might ask you to integrate their offerings casually into a podcast by sharing your experience with their services or products.

Another example is if your podcast has a video recording. In this case, the brand might ask you to visually feature merchandise or products that they offer in your content.

4. Fill your pockets with affiliate marketing

Affiliate marketing takes sponsored content to the next level. The term refers to when brands assign you a promotion (promo) code, which gives your audiences an exclusive discount on their goods and services.

Alternatively, they give you a sponsorship link that your audiences can use to access their products. This kind of marketing allows you to earn a commission whenever a customer uses your promotion code or accesses their website through your specialised link.

5. Monetise your podcast with merchandise

Podcasting gives you a unique platform through which you can portray a specific persona and develop a brand around this persona.

One way that you can monetise this brand that you have created is by teaming up with a business to create your very own merchandise that captures it. This can range from anything like day-to-day items such as clothing to niche accessories or items related to the theme of your podcast.

These items can then be customised in accordance to your podcast’s image by featuring your podcast logo or even quotes from your content. Not only will your fans love these items, but their use of this merchandise will spread awareness for your platform.

What are other ways that podcasters can monetise their content? Let us know in the comments section below.

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Now that you know you can profit from it, are you interested in starting a podcast? If yes, find out everything you need to know to get started in our article, Five things you should know if you want to start a podcast.

*Image courtesy of Canva

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