Make Money Podcasting – Part One
MUST HAVE RESOURCES
Ultimate Podcast Launch Guide (learn how to start your own podcast)
The Podcasters Secret Weapon (for podcasters ready to land big guests and make money podcasting
Podbean (host your podcast here – one month of free hosting)
SUMMARY
On this episode, we are going to share our favorite way to make money from a podcast.
The method has been most successful for us is creating offers. If you create an offer that your audience is going to be interested in, then they’re probably going to want to buy it.
KEY TAKEAWAYS
Podcasting is a fantastic way to build loyal followers and fan base.A fantastic way to make money from a podcast is selling your offers.
Creating an offer your audience is going to be interested in and relate to will make them want to buy.
TRANSCRIPTION: MAKE MONEY PODCASTING – PART ONE
Kamala Chambers
On this episode, we’re going to be talking about how to make money podcasting, and this is part one.
We are here to talk about how to make money podcasting.
Here’s the thing.
You might be thinking “I’m going to start a podcast, or I want to start a podcast, but I’m not sure if it’s going to help my business. I’m not sure if I’m going to have the strategy behind how to make money podcasting.”
Over the next few weeks on our Monday episodes, we’re going to talk with you about how you can make money podcasting.
On this first segment, I want to get into what are some ways podcasters try to make money at the beginning, and some ways that it doesn’t work.
Sponsorships As A Way To Make Money Podcasting
Luis Congdon
One of the ways podcasters and people getting into podcast are looking at making money, one of the most coveted, and the Holy Grail for podcasters. And in a moment, I’m going to talk about why it’s not the Holy Grail, and why it’s not the best but it’s the thing everyone’s talking about which is sponsors.
A sponsor is when a company pays you to shoot out their name, brand, or company. This is working great for a lot of businesses. There are a lot more companies now buying sponsorship spots.
Having Sponsors To Make Money On Podcasting May Not Be The Best Way
Luis Congdon
But what buying sponsorships do mean for you as the host of a show is it means you have to have a company paying you to blast out their name, and they’re going to be asking you a lot of questions.
It can be quite difficult to land a sponsor even though it’s considered the Holy Grail. I think part of it is because the challenge of it but I still don’t think it’s the best method.
Way To Make Money Podcasting – Donations
Luis Congdon
Now, there’s another method, which is donations. You can have people pay you money based on a donation. You can use something like Patreon which is a service that helps you collect donations.
Also, you can send people to PayPal link or some page to make donations, but the only problem with that is you’re relying on donations.
Companies That Make Money Podcasting Through Donations Don’t Last
Luis Congdon
As you might already know, businesses and branding that are donation based don’t tend to make very much money. Many of them disappear because a lot of listener base doesn’t donate. It’s just the way they function.
There are thousands of podcasts out there so why would they donate and take that extra step to donate to your show. There are other methods to make money podcasting.
Kamala Chambers
I think those are great Luis, and those are two of the most common ways people look at how they can make money podcasting when they’re first starting out.
It’s the Holy Grail of sponsors. If you can land a sponsor, it’s fantastic, and it’s going to take some nurturing to keep them on board. You want to show you’re getting results by highlighting them on your show.
Affiliate Links To Make Money Podcasting
Kamala Chambers
There are other ways to make money podcasting. I’m not saying you should find one way to make money from your show. You can find multiple ways. Sponsors and donations are great, and another way is affiliate links.
You can have affiliate links in your show notes on your website for any resources related to the episode like books. You can be an affiliate for Amazon and link books you talked about on the episode or any special gear or resources or software related to that episode. You can have those affiliate links on your website, and that’s one way to make money podcasting.
Downside Of Using Affiliate Links To Make Money Podcast
Kamala Chambers
The only thing about affiliate links though is there’s only so much you get off of an affiliate percentage. Most of them are low. Some of them are as low as 5% off the sale.
If you’re only like selling a book off your website from an Amazon affiliate, you’re not going to see that much of return. It may not be enough to even cover your show with affiliate links when you’re just starting out.
Anything else about affiliate links Luis?
Luis Congdon
I think you said it all there Kamala in regards to affiliates, the pros and cons of it.
Fantastic Way To Make Money Podcasting
Kamala Chambers
One of our favorite ways to make money from a podcast that’s been successful for us is we sell our offers.
This is something I want to talk with you guys.
Selling and creating your own offer is fantastic. It’s because people keep coming back to your show because they’re interested and engaged with who you are.
If you create an offer that your audience is going to be interested in and relate to, they are probably going to want to buy.
Kamala Chambers
When you put out an offer, people are going to want to pick it up.
Combining Different Ways To Make Money Podcasting
Kamala Chambers
You can combine all of these things.
Kamala Chambers
Sponsorship, if you want to put in the time and the energy to nurture a relationship with the sponsor, and keep them on board and combine it with donations and affiliates. And the big one is about creating your offer, and how to highlight that on your show.
We’re going to be talking that on the next episode which is about how you create your offer and use your show to position that offer.
Stay tune on next Monday where we get into Make Money Podcasting Part two.
MUST HAVE RESOURCES
Ultimate Podcast Launch Guide (learn how to start your own podcast)
The Podcasters Secret Weapon (for podcasters ready to land big guests and make money podcasting
Podbean (host your podcast here – one month of free hosting)
