94 / 100
Podcasts

If you want are interested in a hobby and wanted to earn through it, then one of them is podcasts. This field has an increasing popularity. Maybe you will have a misconception that podcasts don’t make money and many fail while only a handful of podcasts make more money. Why is it? Why can’t everyone earn through podcasts? It is because even before earning a single dollar, you make the mistake of spending money on equipment and hosting fees resulting in a negative cash flow. And this is not the way you make money, instead, it is by making people choose to watch you. How can you succeed?

To make people listen to you, they need to see that you have some value. Your focus should be on making amazing content and engage your audience and as a result, you’ll start earning your money. Working a few hours a day in podcasts can make you comfortable living in life if you do it correctly. 

Earning money through podcasts

You cannot make money as soon as you start podcasting, but it takes time for you. Loyal and engaged followers should be built up. Just fewer followers are enough to make it possible to make money and having a small podcast makes you earn money through a variety of income-making streams. Some platforms like Apple Podcasts and Spotify will allow the users to upload their shows and help in building an audience while attracting advertisers which is a key source of revenue. So here are some ways you can make money through podcats.

Advertisements 

You can earn through sponsorships, where podcasts will get the attention of advertisers to pay you for their products in ads that are plugged in the air during the show. These sponsors will pay you $18 to $25 for every thousand monthly downloads, referred to CPM. Ads are usually sold by CPM ( cost per mille) which means per 1,000 listeners. The management platforms place the going industry average rates to podcast advertisements at $18 per 30-second ad CPM and $25 per 60-second ad CPM. you can price the ads depending on where you place them in your episode, whether at the beginning of the show for 15 to 30 seconds or at the end.

soundtrap n30 i7mx62o unsplash

Placing in the middle is also valuable to capture your audience. So this pays essentially for your potential business. The sponsors will head towards the shows that have at least 5000 downloaders per month. You can still attract these sponsors with smaller audiences by hitting a niche that goes with the target market of the advertisers. 

Affiliate marketing in Podcasts

Affiliate marketing in Podcasts is getting paid based on what you sell for another company. You get a commission when you refer people to other companies, and when someone makes a purchase, you’ll earn money. It is better if you can promote the products and services that you are familiar with so that they would be easy to promote. You can do this by mentioning a product or service while you deliver your content or you can create your own ad to promote an offer. You have popular programs for every product and service, such as amazon, podcorn, or Buzzsprout. 

If you are hosting a show based on being productive, you can go to products of increasing productivity. You tell your listeners where they can buy them and give them a personalized link. If that link is used by one of your listeners to buy those products then you will earn a commission. You can even link the product to the show or on your podcast’s websites. If 1% of your audience will purchase products using the affiliate link, to assume the value of each commission is $15. 

Be trustworthy to them, so that they will be willing to buy your suggestions of products. 

Online courses in podcasts

This is a way used by many popular podcasters to make money where they create their own online course to teach similar content to what they talk about on their podcasts. There are a lot of online courses that are dedicated to helping business owners. For example, you can teach on running Facebook ads. 

To do this you can choose the right platform that will efficiently help you in making money. 

Public speaking

siddharth bhogra k3kdc5MQYyk unsplash

You can speak as a podcaster and it makes sense if someone likes to hear what you podcast. This will help you to increase the exposure to new audiences and it is possible that they will become your future podcasts listeners. The speaking fees can range from a few hundred dollars to more than 6 figures 

Prepare a podcast script and plan on what to say. This will help to be organized and focused on the topic. Add some normal reactions and side stories to make it more natural with a flow. Make sure what you speak is clear and understandable, so that you are not going to rush. And make sure to pause, so that the audience will be able to connect and understand what you say. And moreover, make ways to give interesting content so that you can attract your audience and earn money. 

Others

You can host events by bringing your best fans together and giving them value, or you can sell your own products such as mugs, t-shirts, and other accessories and services on guiding on something that you know well. You can also review books and podcasts into book sales. 

To obtain more on money and finance, follow our website.

Follow us on Facebook.