A huge following has been earned by podcasting over the years. The popularity of podcasting is increasing day by day and a large number of people are going to start their shows of podcasting. In order to let people know about their trade, their brand building, and to make connections with a large number of influencers, their audience building, they are interested in starting podcast shows. To earn some extra money for their trade, podcasting has been successfully used by a large number of people. Not only for trade, it can also be used by a normal person individually. Now I will tell you 7 creative ways to monetize your podcast.
1.By asking people to donate money – By asking a huge audience to donate money is one of the easiest strategies of podcast monetization. In order to receive their favorite content continuously without any delay, a large number of people are ready to happily give money to the podcasters of their choice. It is a very simple way of setting up and promoting your podcast. For doing this a form for donation can be added to your website by opening a Stripe account and or adding a PayPal button. While making the podcast show you have to keep the audience updated about what you are doing by making authentic CTAs. The audience will donate money generously if they realize that their money is going to the right place.
2.By creating tiers of paid membership – Another way to monetize your podcast is that you can create tiers of paid membership. The audience will be going to pay money for accessing podcast swag, some groups of Facebook that are private, some content that is exclusive. A Patreon account can be created to start this. You can use it very easily. After creating the Patreon account you can use some tactics like for contributing to you, you can give some gifts to your audience. Some more examples of websites for receiving paid membership are Supercast and Glow.fm.
3.By selling ads or sponsorships – A popular way of monetizing your podcast is selling the sponsorship. Here there is no need to create anything, so it is the simplest way of getting money through podcasting. Just ask a person to give sponsorship to your show. A huge amount of money can be got via sponsorship if a lot of people are listening to your podcast. But if the number of listeners is very small then getting money can be very difficult. For announcing in between the episode or before its start, money can be charged. If it is announced in between the episode then more money will be paid to you. But if possible, a sponsor should be promoted in both the areas. The deal for sponsorship can be done at some places like:
- Midroll
- True Native Media
- AdvertiseCast
- Adopter Media
- Ad Results Media
4.A network for advertising can be joined – Between sponsors and hosts some networks like PodGrid, Podcorn, Midroll, AdvertiseCast can be used for advertising. A fine print should always be read by you because while placing the ad in the podcast a cut can be taken by the platform. In your ad, for 1000 impressions money will be paid to you. So, we can say that here the CPM model is followed for sharing the revenue.
5.By selling episodes that are premium – When your audience starts taking too much interest in your podcast listening then it is the best time to charge for your shows that are premium. You just have to record the best podcast shows and then allow the audience to listen to that podcast only if they pay for it. The type of shows that can be sold are:
- Episodes that are streaming live
- Episodes not containing ads in them
- Showing the free episodes at an early time and charging for them
- Asking questions from some special guests and getting answers from them.
An example of putting a content of premium quality is on The Daily Wire. An amount of $10/month can be charged for listening to it.
When you are going to record a free content then it is the best time to record a premium content. As an example, you are interviewing a special person and you are recording it for showing it free of cost. Then get some extra time and ask some important questions from him and record the content in this extra time to be shown as of premium quality. Then you can charge from the audience for this premium content because they will definitely like it.
6.Maintain a back catalog of all your episodes – By maintaining a back catalog of episodes you will get benefited because you can show them at that time when so much time has been passed and new episodes are running but people want older episodes to be shown. For older episodes you can charge a good amount of money.
7.Use your podcast on Youtube as a video – If you are putting your shows on Youtube in the form of videos then you can charge a good amount of money for it. You just have to monetize your podcast on Youtube and then can earn money by running ads in it.
If you want to develop a good marketing strategy then you can take the help of some digital marketing experts.
