How to Monetize Your Podcast
Does the idea of monetizing your podcast intimidate you? I get it, but before you push back on monetizing your podcast, I want you to consider the time and investment you already put into it.
Making money from your podcast doesn’t have to be stressful. In fact, it can increase your podcast resources and help you have more fun with it! Keep reading to learn the top three ways to monetize your podcast.
What is Monetizing?
Monetizing simply means that you are making money from your podcast. You don’t have to have a huge audience to monetize.
In the beginning, monetizing can help you invest back into your podcast. As your podcast grows, you can start making some serious money from it.
The Top 3 Ways You Can Monetize Your Podcast
You can get creative and find tons of ways to monetize your podcast, but the three options mentioned below are the most common ways it’s done.
- Affiliate Marketing
Affiliate marketing is a great way to get started with monetizing your podcast if you aren’t ready to pitch yourself for sponsorships. You simply sign up for affiliate programs with brands you already love. In your podcast episodes, you talk about the product and promote your promo code for your customers to use if they purchase the product.
Affiliate marketing is a simple way to monetize your podcast, but it isn’t for everyone. Your listeners must use your affiliate code when they purchase the product for you to get paid. I recommend affiliate marketing when you are starting out, but as your podcast grows, there are better ways to make more money with it.
Listen to Episode 40: How to Use Affiliate Marketing to Monetize Your Podcast >>
- Podcast Sponsorships
With sponsorships, brands pay you to promote their products on your podcast. The great thing about sponsorships is that you make money whether your audience buys the product or not.
However, the amount you get paid depends on your podcast’s number of downloads per episode. For the formula I use with my clients to pitch to brands, listen to my episode about sponsorships on the Clocking In podcast.
For sponsorships to go well, it’s important to know your audience and partner with brands that make sense with your niche.
Listen to Episode 41: What to Consider When Looking at Podcast Sponsorships >>
- Marketing Your Business
If you sell a product or service, you can indirectly monetize your podcast by marketing your business in your episodes. For example, if you’re about to release a new ebook, you can market it on your podcast and drive listeners to your shop link. To track how many people purchased from your podcast, offer listeners an exclusive discount code.
Marketing your business through your podcast is a win-win because you can grow your business and you don’t have to share your audience with brands.
Listen to Episode 42: Using Your Podcast for Marketing Your Business >>
What’s the Best Way For You to Monetize Your Podcast?
I hope you feel less overwhelmed by the idea of monetizing. Not sure which option is the best way for you to monetize your podcast? Book a 1×1 coaching session with me to make a game plan and start earning an income from your podcast.