How to Monetise your podcast:
- Trickle down revenue – The big money maker. If you have products or services you are able to sell then you will find your diehard podcasting fans will become your highest paying clients.
- Sponsorships – The more niche your podcast is, the more advertisers will pay to get in front of your audience. It is not unheard of for hosts to be paying over £100 per 1000 downloads.
- Affiliate links – Many companies, most notably Amazon, has an affiliate link programme where anyone can set up an account and make money when other use their link to buy a product. Start using these links in your show notes and Youtube description and start earning straight away.
- Affiliate advertising – A step up from affiliate links is when the company has an advert on your podcast where the host as a special code. The host will then be paid a commission for every purchase completed using that code.
- Product Placement – You can be paid very well for bringing up a product or service in conversation or having a product in sight on the video version of the podcast.
- Youtube – We recommend everyone uses Youtube as both a marketing and monetisation tool. Repurpose your podcast into short clips and once you have sufficient subscribers and watch hours, you can then turn on Youtube monetisation.
- Sell tickets to your live shows – If people are listening to your podcast then they must enjoy listening to you. Sell them tickets to a live show which you will record and repurpose most of it into Podcasts
- Interview your ideal client – If you have a high ticket product or service and your ideal client is a high net worth business owner then ask them to be a guest on your podcast. You will rarely get the opportunity to speak to these people for 45 minutes without a podcast. So Use this time to add value and demonstrate what your product or service is and then keep in touch after the interview.
- Crowd funding – Asking your fans for donations is very common amongst the gaming/streamer community and you could benefit from it too. Either directly by asking for donations or through social media platforms such as Facebook supporters.
- Premium content – Using services such as Patreon will allow you to charge a subscription for your content. You can leverage this easily by doing your regular podcast but with holding half of it and making it exclusive for your subscribers only. With Patreon you can have different tiers of subscription where you can offer different amounts of content to each tier.
- Merchandise – Once you have an established following, your podcast listeners will be your biggest fans and very likely to buy your podcast merch.
- Your network is your net worth – Stay in touch with your guests and get your guests to connect you with someone from their network. Eventually you will be very well connected and this can generate you income in infinite ways.
- Write a book – Repurpose your podcast into a book. This can be outsourced via a VA or you could do it yourself. Each podcast can be a chapter and you can write about the learnings from each guest.
- Become a brand ambassador – This is a step up from sponsorships or affiliates. This can be large income for a host that has had previous sponsorship success with a particular brand
- Join a Ad network – Run multiple ads from random companies. This does not pay particularly well and may not go down great with your audience. We recommend using a sponsorships within your niche but if you are struggling to find the right brand and need to monetise your podcast then an ad network could work.
- Sell your podcast – This may not be for everyone but the titans for podcasting are spending billions on buying up shows. This will be a repeat of the video streaming wars. Start your podcast now in order to grow your podcast.
- BONUS – try using multiple strategies. I.e Having sponsorship on your podcast, then selling premium content on Patreon that removes the ads. Repurpose this same content and post it to Youtube.
