You’re ready to launch a podcast, but how much have you budgeted for it? Podcasting isn’t free and I’m here to tell you just how much you should be ready to spend when you start a podcast!
In today’s episode, I’m breaking down what it looks like to pay for a podcast, from basic start up pricing to outsourcing the graphics, production, and pretty much everything outside of hitting the record button. Listen in as we walk through the things I encourage my clients to consider in their podcast budget and make sure you download my free Podcast Budget Worksheet!
Clocking In with Haylee Gaffin is produced and brought to you by Gaffin Creative, a podcast production company for creative entrepreneurs. Learn more about our services at Gaffincreative.com, plus you’ll also find resources, show notes, and more for the Clocking In Podcast.
Download the Podcast Budget Worksheet:
Listen to Last Week’s Episode:
Review the Show Notes
Podcast Startup Expenses: (1:50)
– Podcastig Gear
– Royalty Free Music
– Podcast Hosting
Podcasting Gear Budget: $155 (2:13)
Microphone – $99
Foam Windscreen – $2.99
XLR to USB C Cabel – $39.99
Microphone Stand – $10
See my blog post for podcast equipment for beginners.
Hosting: $180/year (4:05)
Podcast Startup Expenses Total: $385 (5:21)
Other Podcast Expenses (5:34)
– Website Building + Hosting
– Podcast Producer
– Graphic Designer
– Recording Platforms
– Gift Giving
Website Hosting and Design (6:13)
Design: Based on your designer and needs.
Download the Podcast Budget Worksheet: (7:29)
Podcast Producer: $150-300/episode (8:11)
Graphic Design: Based on designer (10:17)
Graphic Elements You’ll Need: (10:38)
– Podcast Cover Art
– Podcast Episode Graphic Template (solo and guest)
– Multiple Social Media Graphic Templates
Recording Platform: Free – $240 (12:17)
– Riverside FM
Transcribing Audio (13:01)
See my blog post for Why You Should Transcribe Your Podcast Audio.
Transcription Services: (13:25)
Rev – $1.25/minute
Otter.io – $99/year
Guest Gifting: Based on your preference.(14:17)
Three Women I’m cheering for This Week (16:15)
Download the Podcast Budget Worksheet:
Review the Transcript:
Welcome back to another episode of clocking in with Haylee Gaffin if you tuned in the last week’s episode i covered a few things to consider before starting a podcast make sure you go back and listen to that episode but then in today’s episode we’re taking a deeper dive into one of those questions what is your budget before we dive in i want to make sure you head over to the show notes at Gaffincreative.com/007 or Gaffincreativecom/podcastbudget to grab my free podcast budget worksheet in this episode we’ll be using the worksheet to explore the cost of running a podcast. Are you ready? Let’s do this.
Hey y’all welcome to the clocking in podcast the podcast for entrepreneurs and professionals making their way in the working world i’m your host Haylee Gaffin this podcast is produced and brought to you by Gaffin Creative a podcast production company for creative entrepreneurs learn more about our services at Gaffincreative.com plus you’ll also find resources show notes and more for the clocking in podcast so let’s clock in and get to work
Budgeting, what an interesting concept for podcasting and i say that because budgeting for podcasting can range from really inexpensive to a full time salary depending on what you’re outsourcing and hiring someone to do if you haven’t already make sure you’ve downloaded my free podcast budget worksheet at Gaffincreative.com/podcastbudget or head to the shownotes where i’ll link it there at Gaffincreative.com/007. This free worksheet will help you track what you’ll need to purchase or outsource and how much it’ll cost you for your upcoming podcast because podcasting isn’t free
A few startup expenses include podcasting gear ,royalty free music, and hosting in last week’s episode i mentioned that you can get by with paying as little as $200 for the gear music and the first full month of hosting and even less if you find a good sale. This is primarily if you do things on your own let me break down the cost of these for my own podcast podcasting gear you’ll want to invest in some decent podcasting gear i spent a total of $155 on podcast gear to start clocking in i already had my laptop and headphones so my out of pocket expenses included a shure microphone which was $99, a foam windscreen which was just $3, an xlr to usb c microphone cable which was $39.99, and a microphone stand which was $10, often tell my podcast clients to budget at least $150 for their podcast gear but there are so many other options out there as well these items that i just listed are very beginner level of podcasting you can dive further into the podcasting world with recorders or mix boards but for most of my clients that definitely is not a requirement. You can get really nice clean audio with a decent mic and a quiet space. I’ll make sure to link to my beginner podcasting equipment blog posts in the show notes at Gaffincreative.com/007
The next item you’ll want to invest in is royalty free music. Purchasing a license for royalty free music is so important to keeping your podcast legal basically this license will give you permission from the original artists to use the music on your podcast. There are three sites i recommend using over on the blog as well where i break down what i love about each and what types of licenses they offer so make sure you head to the show notes in your podcast app or go to Gaffincreative.com/007 where I’ll link that blog post as well. My favorite is Premium Beat because they offer a standard license for a one time fee of $49 and that allows you to use the music in every single episode of your podcast versus some of the other sites which require you to purchase a monthly subscription for usage on multiple episodes.
The next thing is hosting, which hosting is the one item that i get the most shock over from potential podcast hosts. Why, because most people who aren’t in the podcasting world don’t realize you have to pay for your podcast to be published on platforms like apple spotify and more. There are free hosting platforms out there like anchor but the analytics you’ll want to see in regards to your podcast performance as a business owner or paid features. i highly recommend using a platform like libsyn or acast. I have experience with both and i love both options. Most of my clients are on acast because they have a more customizable feature for their episode players. Hosting can cost anywhere from free which is not my recommendation to $15 a month even up to $40 a month but you also can get discounts on yearly subscriptions which i recommend as all of my clients have long term plans for their podcast and plan to be live for at least a year. For clocking in, I pay a yearly fee of $180 for the influencer plan on acast, this gives me everything I need for my podcast hosting and analytics. You can also pay a monthly fee of $25 per month if you want to spread out that payment and keep your startup costs down on that same plan
Total, that startup costs for gear music, and one year of hosting is about $385.
So now that we’ve covered the required costs of a podcast upfront, let’s dive into those optional but also recommended components that I discussed last week, website building and hosting, Podcast Producer, graphic designer and templates, recording platforms, transcription, service, and even guest gifting. Now let’s remember that you may be completely capable of doing and creating all of these things we’re about to discuss. But most podcasters are hiring out because they’re focused on things that are moving their business forward, and not other things like podcast production. Another reason to outsource is just not having the time, or just not knowing how to do at all, which is totally fine. The first thing is your website build and hosting.
Let’s talk about the importance of having a website to house your show notes. This could be a special website just for your podcast. Or you could house it on your existing business’s website, where you can use the show notes to grow your SEO for your website and not a secondary one, which is my recommendation. You may have noticed that I’ve already told you in this episode to head to the show notes at Gaffincreative.com/007. To check out blog posts and grab resources I’ve mentioned, like the podcast budget worksheet, and let me let you in on a little secret. That’s strategic. I know I shouldn’t be giving away my marketing tactics. But if you’re listening to this episode, you’re likely interested in launching a podcast for those reasons. For clocking in, I’m using my existing website to house the show notes for SEO purposes, but also to drive traffic to my website from this podcast where I have listeners who fit my ideal audience. By linking resources mentioned in this episode in my show notes, it’s likely that you’ll head there to check them out, therefore, meaning you’ll likely start exploring the rest of my site. Plus, if you’re really planning it out, well, you can drive new subscribers to your email list. So don’t forget to download that worksheet. If you don’t already have an existing site, website hosting can cost around $180 for yearly hosting from places like Bluehost name cheap or GoDaddy, when it comes to design and build the cost of a website ranges based on who you hire. When my clients start their podcast, I often tell them to launch on their existing website, develop a custom landing page, which I do offer in my services. And then we’ll worry about building out a more robust podcast section once they have around 15 or more episodes, a website all comes down to your end goal. And if it makes sense to create a website for your podcast, understanding that decide whether or not you even need a website.
The next thing is a podcast consultant or producer. What can a podcast consultant producer, manager editor excetera do for your show? As you likely know by now, I’m a podcast producer. So my recommendation is always to hire one. I’d be silly not to say that right? Well, I actually have a few thoughts around this specific item in the budget conversation with my clients. They look at me as a marketing expense because I’m managing the production of a show that is driving traffic and potential clients to their website. They’re outsourcing all of the work that they either don’t like to do don’t know how to do or just don’t want to do it. And then I’m providing the value of feedback and strategy for their show in addition to actually producing the show. So what do I do? I edit I create shownotes graphics transcriptions, promotional materials, and so much more after they’ve hit record, and they don’t have to think about any of that. I’m helping them with their overall goal and marketing of their podcasts. This cost can vary depending on the services that you choose to hand off to a producer, and how often you’re releasing episodes. For most of my clients. They’re working with me in full capacity, meaning I’m handling everything after they hit record, including that strategy, SEO and so much more. My clients who are working on a weekly basis pay on average between $150 and $300 per episode, depending on the amount of work I’m doing for them on each episode. This number may scare many away. But these are clients that are working on building a big presence with their podcast and driving so many sales to their website and services. That’s why many hosts consider a Podcast Producer a marketing expense in their business. But don’t let that cost scare you away, every single Podcast Producer is different, they’ll offer different services, maybe you’re just looking for an editor. Or maybe you’re just looking for show notes and you want to do a certain percentage of that work. That is all something you can discuss with a Podcast Producer on a console call.
So the next thing is graphic design. And you have a few options for yourself. Whether you already have a designer or you’re a designer, or you have someone you want to work with working with a graphic designer will be so beneficial for you. Because there are quite a number of podcast graphics you’ll need. So those include a word mark for your podcast name, and that’s something that you’ll want to share with your guests to add to their website when they link to your show, because this also helps with SEO and as part of a long term strategy. You’ll also want a podcast cover graphic which will be used as a primary cover photo on all of the podcast player, so like iTunes, and Spotify pocket casts, any of those players will pull that podcast cover photo as the artwork for your podcast. In addition, you’ll also want a podcast episode graphic template. And this would be used for your show notes cover image on each post. But then also, some of the players will pull individual covers per episode. So if you head over to Spotify, and look at each of my episodes, you’ll see that every single one has its own custom cover graphic. Another thing to consider is you may want to have a template for solo shows, and then another template for guests. This way you can distinguish the two. In addition to those you’ll also want a few social media graphic templates per platform. So that’s Pinterest, Instagram, your feed and stories Facebook. Everywhere that you want to potentially share your episodes, make sure that you create a template for each. And if not just one template do multiple templates. Because many of my clients are using custom templates per episode and just switching them out every few episodes. The cost of your graphics will depend on the designer you hire. So find one you love if you’re not comfortable making them yourself.
The next thing you’ll potentially need to pay for is a recording platform. So with this, there are a number of options. If you’re just recording solo shows, you can use a free platform like GarageBand or Audacity. Or if you’re recording interviews online, you may need to invest in a program like Zen caster Riverside FM, or zoom. These programs cost anywhere from free to $240 a year, it will be important for you to research each to decide which program is right for you. And if you want to use video or audio only and how you want to get all of your tracks back. I highly recommend chatting through this with your Podcast Producer if you decide to work with one to make sure that you’re recording correctly.
One thing that I mentioned earlier is transcription services. So I’m really passionate about transcribing your audio because there are so many benefits to it. This includes accessibility searchability and providing another resource for your listeners. Over on the blog, I’ve taken a deeper dive into why each of these is important. So I’ll make sure to link that post in the show notes of this episode. One thing I’ve put a bit of research and testing into is transcription services. I don’t personally transcribe every single episode that I produced by hand, because there are programs that offer it. My favorite tool is Rev. And it’s because they’re 99% accurate, and I swear they even do the research to double check the spelling of names and resources mentioned in the shows. Rev costs $1.25 per minute, so it does get a little pricey. Another tool that I use for clients who aren’t sure that they’re ready to commit to that pricing is otter. otter is not as accurate and it needs a little bit of cleanup once it’s run through. But for just $100 a year, you can upload up to 6000 minutes of audio per month. So I do offer this I just do not clean it up for my podcast clients unless they want to pay an additional fee.
The last thing to consider is guest gifting, and how you’ll thank each guests for their time. While not all podcasts can afford to pay guests for their time. A small token of gratitude through gift giving can be a more affordable option. The cost of your guests gifting is totally up to you. You can customize this per guest or create a standard gift that everyone gets. But the important thing is that you are thanking your guests for their time because they’re giving you their time for free.
Now that we’ve covered the basis of budgeting your podcast, make sure you head over to Gaffin creative comm slash podcast budget to grab that free worksheet if you haven’t already. It will help you better plan for launch and ongoing production of your podcast. And if you didn’t listen to last week’s episode, make sure you’d go back and listen to it because there are a couple of other really important things to consider before launching your podcast outside of just budgeting. Thank you so much for listening to this episode of clocking in with Haylee Gaffin. If you’re interested at all, in launching a podcast, make sure you head over to Gaffincreative.com to inquire and we will get you set up with a free 30 minute consultation to chat through what your podcast could look like. And if you’re ready to start a podcast, and if you’re enjoying the show, I would absolutely love it if you would leave a five star rating and review over on the apple podcast app. Plus, if you’re enjoying these episodes about podcasting, I would love your feedback. So until next time, I’ll talk to you later.
This has been another episode of The clocking in podcast. You can find the show notes for this episode and more at Gaffincreative.com. Thank you so much for your listenership and support. If you love this episode, I’d be so honored if you leave me a review in Apple podcast app. Until next time, I’m your host Haylee Gaffin, clocking out.
Hey, guys, thanks for sticking around to the end of this episode. Again. As you know, I’ve started sharing three women that I’m cheering for every single week. So I’m really excited to share this week’s three ladies.
The first one is Ryn of Ryn Loren Photography, who is my personal brand photographer, my go to woman in the photography industry, my co leader with me and rising tide society and just a woman of strength. Over the last couple of weeks, I’ve seen just how strong and beautiful she is inside and out and it’s given me a refresh perspective and respect for her.
The second lady I’m cheering for is Sarah and of Sarah Ann Design, who is a big part of my mastermind and just made a huge change and improvement in her business during our retreat a couple of weeks ago. I’m so excited for her and what this will do for her brand overall.
The third lady I want to cheer for this week is my friend Tikedra. She is a friend among friends. While COVID has kept us apart over the last year. She’s a friend I can get together with and it’s like we’ve never skipped a beat. And that’s the kind of friend you realize it’s so important during a pandemic.
Make sure you’re cheering for three friends this week. And I’d love if you share with me who you’re cheering for.
Transcribed by https://otter.ai