Whether you are starting your podcast or have had your podcast up and running for awhile, you may be wondering how you can make money from podcasts. Well, there are many different avenues you can take, but first you need to lay the foundation before jumping into any monetization efforts. If you take the time to lay the foundation for monetization efforts, you will save tons of time and effort when the time comes for you to monetize your podcast. Below, we've listed the things that you need to have in order before you can make any money from your podcast.
If you are looking for a breakdown of all the ways that you can make money from podcasting, check out our article here. If you are trying to figure out how to start monetizing your podcast, check out our Monetizing Your Podcast article. Also, if you are looking for information specifically on getting podcast sponsors, check out our article entitled How to Find Podcast Sponsors.
Find Your Niche and Target Audience.
In order to attract advertisers, you need to have a niche and an engaged audience. Finding your niche is the basis for attracting your target audience and then advertisers, so ensure that you have a specific topic for your podcast. Then, ensure that you are reaching out to the audience that is and/or would be interested in your niche. Research will help you identify your target audience and the ways to best reach them. A podcast with a niche and an engaged audience will bring in related advertisers.
Be Picky About Your Advertisers.
Don't accept every advertiser that contacts you. Think about the fit of the advertiser on your podcast. Consider whether the advertiser message, values, products/service, etc. match with your podcast's topic, message, and values. Your audience listens to your podcast for your topic, message, values, etc., so you need to be sure that the advertiser fits. You should also only accept advertisers that you feel will bring real benefit to your listeners. Additionally, it is a good idea to only pick advertisers that you are interested in and believe in because you don't want to be dishonest with your audience. You owe it to your audience to only accept advertisers that make sense for your podcast. Accepting advertisers that don't fit can also turn listeners away, so it's best to be careful with selecting advertisers.
Tip: Make sure that you are also seeking out advertisers that you are specifically interested in. Even if you have quite a following, you can't expect that advertisers will know of your podcast, let alone reach out to you.
Provide Valuable Content.
Only provide content that your target audience would find valuable. Although you may be interested in producing some kind of different content, you need to think about what your audience expects and wants out of your podcast. Providing content that is too far off topic will not be appealing or engaging to your target audience. Also, the better your podcast is, the more likely it is that listeners will be engaged enough to share and talk about your podcast.
Deliver High Quality Audio.
Audio is everything when it comes to your podcast. Listeners as well as advertisers will not be interested in your podcast if your audio quality is poor. Invest in the right equipment and take the time to learn the best techniques for producing the best audio. Again, the better your podcast is, the more likely it is that listeners will share and talk about your podcast.
Focus on Your Relationship with Your Listeners.
Building your relationship with your listeners turns casual listeners into loyal listeners. Advertisers want to work with podcasts with loyal audiences because dedicated listeners are more likely to buy into whatever the host is promoting on their podcast. Take the time to speak with your listeners on social media. Ask for feedback from them and utilize it. Show that you are interested in giving them the best content and content that they specifically want. Building a bond with your audience is a huge asset that will only be incredibly appealing to advertisers.
Utilize Email Marketing.
Ask your listeners to subscribe on your website and collect their emails. Firstly, you can build your relationship with your listeners using email marketing. Keeping in contact with your listeners will really help with keeping them engaged. Secondly, your email list is an incredible asset that proves to advertisers that you have an engaged audience.
Make Your Podcast Easily Discoverable.
Building out content on your website, submitting your podcast to any and all directories, and utilizing social media are all great ways to help make your podcast more easily discoverable. The more discoverable your podcast is, the more likely listeners and advertisers will be able to find your podcast and engage with it.
You may be thinking that these things seem self-explanatory, however, monetization is tricky. There are a lot of foundational aspects that many people overlook when jumping into monetization. If you focus your attention on these foundational aspects though, you will undoubtedly have an easier time finding advertisers, creating products, offering your services, and so on. So, take the time now, before you start to try to make money from podcasting, to get your podcast content and audio quality top-notch and your listeners fully engaged. Happy podcasting!
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