We’ve all heard of podcasters earning a steady income and growing their audience, But is there any truth in these claims? It appears to be based on the increase in earnings and popularity of successful podcasters ( Joe Rogan, for instance? ). Podcasting is a significant source of income potential waiting to be discovered.
Podcasters use a variety of methods of monetization to make money. Podcast sponsorships are a way; however, for new podcasts, there is a chance of finding sponsors with high payouts that are slim in the absence of a known host. The good news is that there are various ways to earn money from podcasting, and they don’t require the awe-inspiring heights of Joe Rogan’s fame.
An affiliate marketing is when a company advertises its service or product via your podcast. You are the intermediary to connect your listeners with them, and in exchange, the business will pay you for the traffic. This is usually achieved through listeners purchasing or registering with a service for every new sale attributed directly to the show.
This type of marketing is perfect for budding podcasters and businesses, as it is based on the success of conversions to earn money both ways. The more prosperous the partnership, the more the parties benefit from it, which makes it a great option.
How does podcast affiliate marketing function?
If you sign up as an affiliate for a business, you will be provided with an exclusive number or URL (called the affiliate hyperlink) to send to your customers. Please ensure the link you share is simple to remember and type because your viewers can hear it in audio form. A good approach is to have the URL be your affiliate partner’s website and your podcast name (e.g., affiliate.com/yourpodcastname).
After your listeners have received your hyperlink, they can use offered by your affiliate partner. If they complete the order or subscribe, the partner will assign the purchase to your podcast and pay you a particular amount for the number of customers you bring to their business.
Where can I find an affiliate-based program to promote my podcast?
Affiliate marketing is most successful when the appropriate companies and podcasts join forces. When looking at the right Affiliate program to promote your show, select the most suitable for your target audience. If your performance is centered on the most recent novel releases, your listeners probably won’t want to join a business that sells kitchenware. They’ll be attracted to companies like Audible that frequently collaborate with podcasters to market.
There are many resources available to bring companies with podcasters. All you have to do is join one of these affiliate programs and start promoting a product or service via your podcast.
Provide tiered subscriptions via Patreon
Patreon is a subscription platform that allows patrons (called “patrons”) to help their favorite creators by making regularly scheduled monthly installments. Through Patreon, you can categorize podcast subscriptions into distinct “tiers,” with each level receiving various advantages. Remember that you must produce enough unique content to make each tier worth the monthly fee.
Here are a few additional suggestions for attracting and enticing patrons to show support for your Patreon account:
Set a low price for entry. You should charge a small amount for subscriptions. Then focus on improving the quality of your content. Inviting ten listeners to sign up for $5 per month is much easier than obtaining one person to sign up for $50.
Increase the value of higher levels. Higher tiers should give additional benefits that ensure your customers feel they’re worth their investment. This could range from early entry to the latest content to discounts on brand merchandise.
Be consistent with your routine. When you decide to release podcasts every day, weekly, or even monthly, make sure you adhere to a regular schedule. People who listen to podcasts want a constant flow of content, so do your best to keep up with the times and release your podcasts on time.
Keep your viewers up to date. Give fans a glimpse into the production process and update them with news about new episodes. People are more likely to keep paying for monthly subscriptions when they feel a stronger emotional connection to the host.
Another option to raise money from fans is to use crowdfunding sites. However, crowdfunding websites are a good choice for single-time projects with financial options that are hard to integrate into your podcast. With Patreon, it’s simple to establish subscription-based payments which generate recurring revenue for your show.
Offer custom-designed merchandise to your fans
As children, we were surrounded by posters, t-shirts, and other merchandise showcasing our top bands, movies, and sports teams. With printing on demand, it is now possible to create and sell similar merchandise (and then some) directly to the fans of your podcast.
If you’re a creative person or know someone who is, you can make custom-designed products to sell to your customers. With print-on-demand services, you must create an account on the print service’s website, upload logos and images, and select the items you wish to offer for sale.
Every service has a wide range of goods and services that can be connected to your website and another platform for selling. They’ll require the initial setup cost and time. However, the fact that they are an on-demand manufacturing method means you will not have to spend an enormous amount on stocks. Additionally, you won’t have to be concerned about running out of stock because they only produce the ordered items. This setup is ideal for podcasters since it lets you have an on-demand merchandising store running in the background while you concentrate your attention on your blog.
Self-publish and write an ebook for your target audience
It’s safe to say that your listeners enjoy hearing your opinions and thoughts on various topics. In the end, why should they be listening to your podcasts? You can also imagine that your listeners are happy to receive new content and information from you in different ways. This is why self-publishing books are popular.
Self-publishing books can be an ideal way to create more content and earn money from your fans. That may be why many podcasters have packaged their ideas into books their listeners can purchase for a specific cost.
For example, comedy star Deborah Frances-White wrote a book called “The Guilty Feminist, “ which is an unscripted spin-off of her panel show with the same title. Another notable example is writing a new story from The Alice Isn’t Dead podcast by the creator Joseph Fink and Adnan’s Story by Serial host Rabia Chaudry.
A book that is based on your podcast can provide you with numerous benefits that could increase your fame and earnings:
Widen your fanbase. Although your audience members will head to your book through your podcast, a few people might discover the book before others. If they’re impressed by your book’s content, they’re more likely to look up the author, increasing the number of people who follow your podcast.