There are a variety of ways to monetize your podcast, including accepting donations. Accepting donations can be an especially great way to earn some money to further improve your podcast. Although setting up a donations system is a pretty simple task, there are still a few things to think about when planning your donations system and spreading the word about it.
Should I accept donations?
In order to accept donations, you should likely fit into 1 of 2 categories:
- You have an extremely dedicated audience that wants to support you and your podcast.
- You want to offer exclusive content to your listeners and are confident that they will value that content.
Having a passionate and engaged audience that wants to support you and your podcast likely means that you are in a small niche where listeners are fanatical about the subject. In some cases, you may be extremely connected with your audience, making them personally invested in helping you succeed. Remember, you can always accept donations, but it takes a particular loyalty for your listeners to actually donate.
If you have an audience, but are unsure about how successful donations might be for you, offering exclusive content in exchange for monetary support might be the right choice. You can offer extra content that you've always wanted to create or simply repurpose your podcast content. Obviously, the content that you offer has to be valuable to listeners for them to donate, but this can be a great draw for them.
What platform can I use to accept donations?
PayPal and Patreon are the most common platforms to use to accept donations.
PayPal is very well-known and a trusted service for payments of all sorts, including donations. It's easy to set up an account, unique link, and donate button, which allows listeners to easily donate to you with the click of a button. Payments can be one time only or even on a recurring basis. It is free to get started and there's no monthly fee, but they do receive a percentage per transaction.
Patreon is simple to use and another trusted service to receive donations, specifically recurring payments for access to your creative work. If you want to offer exclusive content to your listeners, then Patreon is the service for you. You can set up levels and rewards to make it custom for your needs, or you can just offer community access to your exclusive content for a monthly donation. It is free to get started, but they do receive a percentage of the income you earn through membership, plus an industry standard rate for processing payments from your patrons.
How do I create a PayPal or Patreon account?
You can quickly and easily create a PayPal or Patreon account to get started accepting donations.
To get started with PayPal, create an account here.
To get started with Patreon, create an account here.
How do I direct listeners to donate?
There are a variety of ways to direct listeners to donate and it is extremely helpful to use several different methods to ensure your message about donations is reaching your listeners. These methods include:
- Call to action
- You can tell listeners that they are able to donate and request that they donate as your call to action at the beginning and/or end of your podcast.
- Direct link
- Providing a direct link to donate wherever any information about your podcast is located is an easy way to ensure your donation information is always accessible. This means providing the link and a short mention of donations on your website, in descriptions, on social media (both in posts and in your bios), and so forth.
- Donate button
- PayPal allows you to set up a "Donate Button" that you can embed on your website, in emails, or in blogs. All a listener has to do is hit the button and they are on their way to making a donation. This makes it especially simple and thus more appealing to donate.
- Email list
- Mentioning that you accept and encourage donations in your emails to your listeners is a great way to communicate and connect with your loyal listeners that have subscribed to your email list. Instead of a general mention that you accept donations, you might consider getting a little more personal and letting them know what you plan on using any donations you receive for.
What should I tell listeners about my donations system?
There are a few different approaches to letting listeners know that you are accepting donations and encouraging them to donate. It is up to you to decide what is best based on your podcast topic and your relationship with your audience. These approaches include:
- Simply asking
- There's no harm in just letting listeners know that you accept donations and asking that they contribute to your podcast. It may not be the most captivating way to encourage donations, but many folks are very receptive to people simply asking for what they need.
- Asking for something specific
- Depending on your relationship with your audience, you might consider asking for donations using phrases like "buy me a coffee" or something of the like. If you are close with your audience and you have a relationship where they would respond to that, this can be a great approach that adds a little personality to encouraging donations.
- Telling listeners about goals
- Being upfront with your listeners about what you would do with their donations can be especially compelling since listeners have a specific goal that they know they are contributing to. Let listeners know about any specific equipment upgrade goals, podcast goals, career goals, or even life goals that donations could assist you with.
- Providing incentives
- To encourage donations, you can promise shoutouts on your podcast, send small gifts like stickers, pins, etc., or even name your donors on a donation page.
- Inviting listeners to become patrons
- If you decide to use Patreon and offer exclusive content, just let listeners know that they can receive access to exclusive content if they become a patron. Note that you will also have to explain what listeners can expect from your exclusive content in order to communicate the value.
Ultimately, deciding if you want to accept donations and how you want to accept donations is up to you. First and foremost, consider your podcast topic and your connection with your audience. That will likely give you the answers you need. If you don't feel it makes much sense, but would ideally like to accept donations, consider changes you can make and ways that you can foster a loyal audience that may want to support you monetarily. Remember that there's absolutely nothing wrong with accepting donations, you just have to ensure you are honest with your audience and passionate about your podcast. Happy podcasting!
To learn about other ways that you can make money podcasting, see our article here.
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Article Image: HeatherPaque via Pixabay.