We predicted at the beginning of the year that podcasting would be a growing trend for 2019 and influencer marketing. Several members of our community have launched podcasts, listen to more podcasts and are even guests on podcasts. These streaming audio shows also provide an additional way to make money as a content creator. We surveyed several community members who host podcasts to see what’s working for them. Were they able to monetize their podcast as soon as they launched? Did they have to wait until their audience grew? Is their a podcasting platform that makes it easier to monetize and promote advertisers? We’ll walk you through their suggestions and best practices.
How to Make Money with a Podcast
1. Direct Sponsorships
Based on relationships with advertisers and your content, you can make a direct pitch for a podcast sponsorship.
If you already partnering with a brand for a sponsored Instagram post, you can also pitch to add a pre-roll/mid-roll advertisement in your upcoming podcast.
How many streams/subscribers do you need to monetize a podcast?
Jamie Broadnax hosts the Black Girl Nerds Podcast on Apple iTunes. She says “10 to 20 thousand” is an ideal number to reach before you try to monetize your podcast.
Photo Credit: Black Girl Nerds
Stacey Ogden hosts The Side Hustle Teachers Podcast and recommends that when you pitch sponsors, “you need to present the benefits for the company, not your podcast.”
For example, if your target audience is teachers like Stacey’s audience, a school supply company would want to grab the attention of these listeners.
Comment below: If you host a podcast are your stats/streams/subscribers listed in your blog’s media kit?
RELATED TOPIC: Podcast Equipment List & Software Recommendations
2. Referral Sponsorships
This is just like affiliate marketing through a blog or social media channels. Podcast hosts promote a sales product and earn a commission based on sales through listeners who use a promo or discount code.
Contact an affiliate manager to ask about partnership opportunities with podcasters. They may provide you exclusive links and codes for your podcast listeners.
RELATED TOPIC: Affiliate Marketing Basics for Bloggers
What do you see in the future for monetizing podcasts?
Jamie from Black Girl Nerds podcast, “There is currently a Podfund that serves as a business accelerator to help podcasters create their own startups and grow their podcast into a company.”
Lisa Lightner from A Day in Your Shoes uses BuzzSprout as a podcast platform. She compared podcasting to “the early days of blogging. Everyone wants to appear on the podcast for free and pitch their stuff to my listeners. It’s still so new, things have to level off much like they have done for blogging.”
Jess Brassington also uses Apple iTunes to host her podcast, Naked Talk with Unprocessed JESS. She said in the future, “I see geo-specific advertising and more podcast events where the podcaster hosts and has live podcast episodes engaging the audience, almost like a talk show but on audio, and expands on the topic with a guest and/or panel.”
3. Podcast Advertising Network
Just like pay per click (PPC) ads for websites and blogs through networks, you can find advertisers who are willing to pay for ads on your podcast.
Here’s a list of some podcast advertising networks.
- Ad Results Media
- AdvertiseCast
- Midroll
- True Native Media
- Libsyn
- Adopter Media
4. Sell Your Own Products/Services
If you offer your own social media services, books or downloads, promote them on your podcast.
Offer a discount or promo code for a limited time for listeners to enjoy. You can also countdown to the launch of a new product and offer a pre-sale discount.
CLICK TO TWEET: Want to monetize your podcast? Here are 4 simple ways to get started. #podcast #podcasting via @TheNetworkNiche
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