A podcast is a recorded audio file which an audience can subscribe to and download to their smartphone or tablet. They can then listen to it at their leisure. Although the podcast is provided free, most podcasters want to get some sort of financial return for their efforts.
Clever podcasters are regularly discovering new ways to make money with a podcast. Here are a 5 proven ways for you to try.
1. Build An Email List
A podcast is a great way to build an email list of people who are genuinely interested in your niche or market. You can ask people to submit their email address before downloading the podcast, or offer some sort of free bonus during the podcast. For instance, you can offer a report or checklist that is related to the topic of your podcast. With this data, you can then promote your products and services via email.
2. Affiliate Marketing
This is one of the easiest ways to make money with a podcast. You simply recommend products and services you think offer good value to your audience. The businesses that sell the items you recommend pay you a commission when someone purchases something from them. You don’t have to stock products or deal with customers. You basically act as an affiliate for that business, accumulating commissions when something is sold.
3. Sell Your Own products And Services
Many businesses produce a podcast to go together with their website and help to market their products and services. Video podcasts are especially good for this, because you can show your prospects how things work without having to write out explanations for them to interpret.
4. Sponsorship And Advertising
You’ll need to be getting a several of thousand downloads per your podcast, before businesses will be prepared to pay a sponsorship fee for your podcast or advertise their products and services during the program. You can determine how much you want to ask for sponsorship or advertising space on your podcasts, but the more downloads you have, the more you’ll be able to charge.
If you’re podcasting giving people your knowledge and expertise for free, don’t be worried to ask your listening to contribute a couple of dollars. If you provide high value to your listeners, your regulars will be only too happy to give you some money to help with the running of your podcasts.