How to Make Money from Your Podcasts
Many people publish their podcasts for free, and that is good for marketing purposes so you can get your name and brand in front of a wider audience and sell more products and services. But there are also a number of ways to make money directly from your podcasts.
1. Affiliate marketing
Sell products for others in exchange for a commission. Make sure they are all related to the niche you are working in. Incorporate each item into the podcast with a short review as well if you wish. It will help keep your podcast fresh and new, with interesting content on a regular basis, while helping your audience and making money all at the same time.
2. Write a book and publish it
Write a book related to your niche and publish it on Amazon as a Kindle electronic book and through their CreateSpace service as a paperback book. Give your listeners little samples of what you talk about in the book and instructions on how to buy it. This should get sales for the book and prestige for you as an expert in your niche.
3. Podcast ads
Set a price for a 30-second to one-minute ad on your podcast. The price can be based on how many subscribers you have to your channel, such as a penny per subscriber per show. Consider giving them even more of a mention or taking content if they are willing to buy ads regularly (such as a month at a time).
4. Podcast sponsorships
Find companies associated with your niche who might be willing to sponsor you; that is, pay for the running costs of the program. They might get a mention at the start and end and a detailed two- to five-minute spotlight on all they have to offer their customers. Consider doing an even better deal of having them on for interview, or even giving them a regular spot if they are willing to sponsor your program for a month or more.
5. Build your mailing list and sell products to them
Increase the number of subscribers to your email marketing list, and offer a range of affiliate and homemade products to them.
6. Create products for your audience
It is easy to create digital and even tangible products for your niche once you have your finger on the pulse of what their problems are and what they are willing to pay to solve them. Show that YOU have the solution they are looking for, and they will buy online via the internet and your emails. Create the product, launch it on your podcast and in other online venues, and see how many sales you can make.
7. Create services for your audience
Membership sites, coaching program and consulting packages can also meet the needs of your target audience and relieve their pain points. Monthly memberships each month can help you steadily earn a predictable income rather than just have the "boom and bust" of launching a product and then watching sales dwindle after the fuss has died down.
Coaching programs are becoming increasingly popular as a means of learning essential skills from the comfort of the student’s own home or office. As long as you are a few steps ahead of complete beginners in your niche, you can set up a coaching program.
Consulting varies from person to person, but it usually involves focusing on a certain trouble spot in their business and offering a range of solutions. Some consultants are very hands-on and will implement the solution themselves. Others will offer an outline and suggestions for free and paid solutions that will work.
Now that you know how to make money from your podcasts, try at least one of these methods and see how much money you can earn.