Finance, TECH

How to Make Money With a Podcast: Your Guide

What a time we live in! Anyone with a passion, a laptop, a mic, and little charisma can create a successful podcast. But this is no get-rich-quick scheme. Creating a podcast that can earn you money requires effort and a little know-how. But don’t panic, the very purpose of this article is to show you how to make money with this medium.

So, if you want the blueprint on how people like Joe Rogan and Sarah Koeing have made it, these stick with us for the lowdown. 

Make Money With a Podcast Using Ads

If you are an avid listener of podcasts, you’ve most certainly heard shows take a moment to advertise a brand or product. Reaching out to advertisers is quite straightforward. Usually, your podcast host may have some advertisers that they already work with. You can also reach out to advertisers yourself by attempting to contact the marketing team of a particular brand. If you already have a substantial buzz around your podcast going, you can also wait for clients to contact you.

Advertisers recognize the value of podcasting as a marketing medium. So, the bigger you get in the podcast business, the more advertisers will want to partner up with you.

While this technique can be fruitful, it’s worth knowing that the money in podcast ads is based on the number of downloads your podcast generates. Therefore if you’re only starting out, this may not be the first means of monetization you’d want to go for. 

But don’t throw in the towel just yet. The next technique is perfect for newbies…

Make Money With a Podcast Using Sponsorships

This form of monetization gives you a lot more freedom in how much you get paid as well as how quickly. Sponsorships are about getting a brand to cover the production costs of your podcast in exchange for the promotion of their brand on your show. 

There are a wide variety of podcast sponsors out there as well as agencies that can track down sponsors for you. The great thing about this technique is that you can work at tracking down sponsors that reflect the same goals as your brand. This can also affect your negotiations with them.

While sponsorships don’t necessarily mean hefty profits, they can help to get your podcast off the ground. As your brand grows you can then dedicate funds to buying better equipment or reaching out to a podcast partner that can improve the quality of your production.

Make Money With a Podcast Using Affiliate Marketing

Affiliate marketing is another great way to make money online using programs like Amazon and Fiverr. Basically, it involves sharing a link or code with your listeners to an online store or service. If your listeners purchase something through the link you’ve provided, you will receive a cut. This is especially juicy when the service is based on a subscription. 

Again, this is a great way to connect with products and services that you and your listeners would be interested in—be it a book, or a course that aligns with the message of your podcast. 

There are a ton of affiliate marketing tools out there, so do your research and pick one that serves your values and goals. 

Think Outside of the Box

These aren’t the only ways you can make money with a podcast, but they are definitely the most popular. Thinking outside the box may inspire you to even sell your own products and services through your podcast. How important it is, then, to stay ahead of the trends and keep your finger on the pulse of the startup world. 

To help you do that, we have plenty of inspiring material on our site. So, why not keep browsing and keep the juices flowing with more useful articles like this one.