As a podcast manager, I get asked all the time – how do you make money from a podcast?
In this blog, I share 15 ways to monetize your podcast that you can try with your show.
How Do You Make Money from a Podcast?
For my coaching and service provider clients, I usually recommend they start monetizing their podcasts with their services and courses. But realistically there’s no one-size-fits-all approach to podcasting. Ultimately, it depends on the business, the podcast, and the target audience.
Here are 15 ways to make money from a podcast:
1. Services
If you’re a service provider, talking about your services and client results on your podcast is one of the best ways to get new clients and increase your revenue. Give your audience valuable content and casually talk about how your services solve their problems.
2. Coaching & Consulting
Offering your coaching or consulting services is a simple way to generate revenue from your show. Discuss topics related to your expertise, and give listeners the opportunity to work with you.
3. Courses
Do you have a course or program that you offer? Use your podcast to promote it and get people to sign up for it.
4. Affiliate Marketing
Affiliate marketing works by linking to complimentary products or services that you recommend. You earn a commission on sales when someone clicks through your link and makes a purchase.
Promoting products related to the topics discussed in your podcast provides an opportunity to offer value while also generating income. Be sure that the products or services you recommend are high quality and align with your business.
5. Events & Workshops
Share any events or workshops you’ve got coming up on your show and ask your listeners to sign up. This is an awesome way to make money and fill up seats at your events.
6. Sponsorship
Companies and brands pay to have their products or services featured on podcasts. Create a media sheet and reach out to brands that align with your company’s vision to see if they’re currently sponsoring shows.
7. Ads & Ad Networks
Ads are a popular way to make money with your podcast. Many podcasts partner with an ad network that provides ads for them. With most networks, you choose what ads to include on your show and have full control over what content your audience is exposed to.
8. Subscriptions, Premium Content, or Tiered Memberships
Looking to monetize your podcast and make a recurring income? Offer subscriptions to your listeners!
Subscriptions come in many forms – a premium content section on your website, a FB group, or tiered memberships through a platform like Patreon. The sky’s the limit! Subscriptions give your listeners exclusive content and access to you while generating extra income for your business.
9. Physical or Digital Products
Does your business sell physical or digital products? Use your podcast to introduce your products, discuss how to use them, and where to buy them.
10. Public Speaking
When people hear your show, they may be interested in having you speak at their event or conference. Once you book an event, promote the appearance on your podcast.
11. Get Listeners on Your Email List
Email lists are pure gold for generating revenue. They give you direct access to your listeners. The best thing about an email list is that you actually own it, unlike your social media account.
Use your email list to promote products, services, or anything else you’re trying to sell. You can also use the list to share information about new episodes with listeners.
Get listeners on your list by offering a freebie (like a PDF of your show notes) in exchange for their email address. Promote your freebies and ask for sign-ups at the end of each episode.
12. Selling Merchandise
Got a loyal following? You can create t-shirts, mugs, hats, and other items with your logo or an inspirational quote from your show.
13. Books
Are you an author with a book to promote? Use your podcast to advertise it, and then add a link to buy the book in your show notes. Another possibility is turning your podcast episodes into a book or series you sell to listeners.
14. Accepting Donations or Tips
Some podcast hosts ask for donations or tips at the end of each episode. There are several virtual tipping services you can use to collect funds.
15. Make Money from Your Podcast Skills
Have you been managing all of the production and editing for your podcast? Use your skills to create podcasts for other people, or offer consulting services to help them get started on their podcasting journey. By offering your services, you earn some money and get to help others bring their ideas to life.
Conclusion – How to Monetize Your Podcast
Monetizing a podcast can be intimidating, but it’s also an exciting opportunity to generate extra income. There are lots of ways to make money with your show, from ads and sponsorships to subscriptions and courses. The key is focusing on building relationships with your audience and providing them with high-quality content they’ll be eager to support.
I’ve included some frequently asked questions below if you want to learn more about monetizing your show.
FAQ – How Do You Make Money from a Podcast?
Here are some of the most popular questions and answers about making money from a podcast.
Why Should I Start a Podcast for MY Business?
When done right, podcasting is one of the most effective ways to showcase your expertise, boost your credibility, and establish yourself as a leader in your niche. Podcasts allow you to reach people who wouldn’t otherwise hear about your business and help build that know, like, and trust factor.
Podcasting is an effective long-term content strategy that fits well into a sales funnel. And since it’s macro content, you’re able to repurpose it into a lot of different types of content from social media posts to short-form videos.
What Do I Need to Start Monetizing My Podcast?
Ready to monetize your podcast? Here are two things you’ll need before you can start making money.
Quality Content and Sound
No matter what monetization methods you choose, quality content is the top priority. Listeners won’t stick around if your content isn’t engaging and entertaining. Provide valuable and entertaining episodes that keep people coming back for more.
Ensure that your audio sounds good. You don’t want listeners to tune out because of poor quality. Podcast audio doesn’t have to be studio quality but it needs to sound pleasant or listeners will turn it off.
An Audience and Community
Attracting an audience and building a community are the first steps in monetizing a podcast. After all, you’re going to need people to listen to your show before you can start selling them stuff.
Spend some time building your audience and cultivating a community of listeners. Some ways to do this are through a private Facebook group, a Discord server, or a Slack channel. Here, you’ll share exclusive content and host Q&A sessions with your listeners. Doing this helps your audience get to know you. Once they know, like, and trust you, they’ll be more likely to purchase products and services you recommend on the show.
When to Monetize a Podcast? – Where Do I Start?
Even before your show is up and running, you can start thinking about ways to monetize it. Decide what strategy you want to try. Once you know how you want to generate revenue, you can create content that supports that goal.
Many podcasters start offering their products, services, course, or memberships from their very first episode. To do this include a short promo during your show mentioning what you offer and link to it in your show notes.
How to Choose a Method of Podcast Monetization
Choosing the right method for podcast monetization is a crucial step to crushing your money goals. Take your time and consider your options before choosing a path.
There are many ways to monetize a podcast and each method has its pros and cons. Consider what works best for your show and audience. Don’t be afraid that you’ll choose the wrong one because you can always pivot (said in my best Ross voice!).
How Much Money Can You Make from a Podcast?
The amount of money you can make from a podcast varies greatly. Top-rated podcasters make millions of dollars while hobby podcasts may make nothing or even lose money. There are a lot of factors in play including your target audience, how you choose to monetize the show, and your offers.
Remember podcasting is a long-term content marketing strategy. If you’re starting out, it may be a slow process to start seeing results, but with patience and hard work, it is possible to make money from podcasting. Consistently delivering engaging content is the foundation of any monetization strategy.
How Many Listeners Do You Need to Make Money on a Podcast?
The number of listeners you need to make money from a podcast depends on what kind of monetization strategy you’re using for your show. For example, if you’re using advertising networks, then the amount of money you can make is based on how many downloads your podcast gets each episode. However, if you’re using other strategies like selling products or services, then it may only take a few dedicated listeners to make money from your episodes.
How Long Does It Take for a Podcast to Make Money?
It often takes a bit of time for a podcast to start making money. Podcasting is a long-term content marketing strategy like blogging. How long it takes to monetize a show involves many factors, including how much effort you put into marketing and promoting your podcast, if you have an existing audience, and what types of products/services you offer your listeners.
Is Starting a Podcast a Worthwhile Investment?
Absolutely! Podcasting is one of the most affordable and effective ways to get your message heard. Starting a podcast is a great way to improve your reach, engage new audiences, and share your message with the world. A podcast fits well into a sales funnel as part of the long-term marketing strategy.
Check out my post about planning a successful podcast launch to get helpful tips and ideas.
How Much Money Do You Need to Start a Podcast and What Basic Equipment Do I Need to Start Podcasting?
Starting a podcast doesn’t have to be expensive. All you need is a microphone, some basic recording software, headphones, and a computer.
Depending on your budget, you can get started for as little as a couple of hundred dollars. For most people, the biggest cost is a good-quality microphone. The better equipment you buy, the higher quality sound you’ll be able to capture and the more professional your podcast will sound.
I compiled a list of my favorite podcast tools if you want a few recommendations.
Can You Make Money Podcasting on YouTube?
YouTube is the most preferred platform for podcast listeners. To monetize a podcast on YouTube, you’ll need to create and upload videos with your podcast recordings.
Once you have your videos on the platform, you’ll have the opportunity to enable ads and monetize your YouTube channel. Then you’ll be able to start earning ad revenue from your podcast and other videos you upload. Be sure to try YT Shorts for promoting full episodes.
How Do Podcasts Make Money If They Are Free?
If you’re not charging for your podcast, how can you make money from it? The answer is there are plenty of ways to monetize a free podcast. You can choose one of the ways listed above or better yet combine a few for better results.
As an experienced podcast manager, I love helping my clients launch and grow their shows. If you feel stuck or want some help, please schedule a free call.
If you have any additional questions please feel free to email me at hello@christinaodonnell.com
