How to Monetize Your Podcast
Creating a money-making podcast means you have to find a way to make that money. A podcast in itself will not make you money since most of them are free. Many podcasters think the only way they can earn revenue is through Google AdSense on the website that hosts their podcast. But that’s not the only way. By using different mediums and formats, you can see how to monetize your podcast in better ways.
1. Open up to Advertisers
Your podcast covers a specific topic. That means more than likely, your audience consists of individuals strongly interested in the subject. Having good content and an interested audience provides an opportunity to get advertising from corporations and other big names. To get them interested in advertising with you, approach the company with a brief proposal about how you can advertise their products and services on your podcast.
You can break it down even further by looking for niche market advertisers or advertisers in specific geographical areas. Focus on one area and target local companies.
2. Sell Your Own Products
Do you have eBooks, classes, services or other products you have created? Sell these on your podcast. Not only should you have a link to it on your blog but you need one in your show notes as well.
Ask for donations from your listeners.
Reach out to advertisers who are sponsoring similar podcasts. Add the option to be a sponsor on your advertising page. Just remember you need to be an established podcaster with a good sized group of regular listeners in order to appeal to sponsors.
5. Show Notes
Create show notes of each podcast episode. Direct your listeners to them. Include links to affiliate products, your own product sales pages and links to services you mention in your podcast.
6. Create Audio Books
Turn your interesting podcasts into an audio book that can be sold.
7. Private Podcasts
If you have an extremely popular group of podcasts, think about reserving a portion of them for members only. For example, you could have five shows, and then the sixth one is a paid podcast. Or offer a portion of the show free and have the full version paid.
8. Promote Affiliate Products
Promote affiliate products from other companies like Amazon. Make sure that it relates to your content. You can also promote your guests products through your own affiliate links as well.
9. Join Podcasting Networks
Join a podcasting network like Libsyn or Podtrac (http://podtrac.com/). These networks welcome podcasters who have an audience. They sell advertising against those podcasts. Basically what happens is the network gathers shows, categorizes them and then sells advertising on a CPM (cost per thousand) or CPA (cost per action) basis.
Podcasting doesn’t have to be a free information component to your business. Use these nine tips to get you started creating revenue from your podcast.
Podcasting is a great online medium. Creating the podcast is the easy part. The hard part is getting it in front of people and finding listeners. To grow your audience you have to let people know you are there. Here are several ideas to get you in front of your audience.
- Connect a website or blog to your podcast. A website can be indexed by the search engines. It’s a place to showcase your show notes. You can drive traffic to the site and your podcast by using the right keywords within your descriptive text.
- Get listed on iTunes. Almost half of all podcast fans listen through iTunes. Often they will find new podcasts through iTunes as well.
- Use social media. Ask existing fans to like your Facebook page, your Twitter account and other social media accounts you have. Social media is a great way to get feedback from fans as well as ideas for new shows. It is a great way to build relationships with your listeners as well.
- Create an email list. This gives your listeners the opportunity to be reminded of your newest podcast show.
- Put out press releases if you have an interesting angle or interview on an episode, or you are celebrating an event like your 100th episode, an anniversary or an upcoming contest.
- Interview interesting people in your niche. When the show is posted, send a link to the person you interviewed, encouraging them to link to it and share it with their followers.
- Comment on other podcasts and blogs connected to your niche topic. Mention your podcast and what you discussed relating to the topic. Participate in forums related to your topic as well.
- Encourage listeners to leave feedback on your shows. Provide ways for them to call in and leave messages or to send email feedback. Have them leave comments on your blog that hosts your podcast. Answer their questions during the podcast if appropriate.
- List your podcast in directories. Don’t limit yourself to podcast-only directories, though. Submit your RSS feeds to blog directories as well.
Here are some of the more popular podcast directories:
- iTunes (http://www.apple.com/itunes/affiliates/download/)
- Stitcher (http://www.stitcher.com/content-providers)
- Miro (http://www.miroguide.com/accounts/login/)
- Blubrry (http://www.blubrry.com/addpodcast.php)
- Libsyn (http://www.libsyn.com/podcast-source-submit/)
- You can find an up-to-date listing of directories at Podcast411 (http://www.podcast411.com/page2.html)
- Add a graphic of your podcast to your website.
- Have a consistent theme and interesting content. Keep your listeners tuned in by providing consistent formatting and the same theme throughout all your audio files.
- Network with others. This can be going to off-line events, attending online events and people you meet. Mention your podcast when telling others what you do.
Now that you’ve created your podcast and published it, you need to get listeners. Everything you do online, you also need to be doing for your podcast.
You have your podcast recorded and published. You’ve created several shows and have started promoting. Now you’re ready to begin interviewing guests. But how do you find them? Which ones will be a good fit for your listeners?
These tips will help you get the right guests for your show.
Join the RadioGuestList.com (http://www.radioguestlist.com/). This email service doesn’t cost anything and you receive information regarding experts, authors and other professionals interested in being interviewed.
Sign up for HelpAReporterOut (HARO) (http://www.helpareporter.com/) or BloggerLinkUp (BLU) (http://www.bloggerlinkup.com/). Both of these sources offer a list of interview candidates. Both are free email lists and are designed to match experts with those who want to share their expertise with listeners.
Use your social networking connections to find people to interview for your podcast. Put a simple post on Facebook, Twitter, LinkedIn, Google+ and any other sites, asking people to contact you if they are interested in being interviewed on your podcast.
Word of mouth is one of the best ways to find people to interview. Just ask your colleagues, business associates or even your competitors if they know of someone who wants to be interviewed.
Don’t forget to go local. Check out your local clubs and organizations for people you can interview.
Look to your mentors. Ask them if they would like to be a guest on your show to share their story.
Google News, national news and magazines are all sources that can give you ideas for people to interview. Contact those interviewed in the news story to see if they would agree to be interviewed on your podcast.
Ask your listeners to share their stories. Do a feature story about a certain subject and ask your listeners to email you if they’d be interested in being interviewed on your show.
Before you agree to anyone being interviewed, conduct a short sample interview to see how they might fit with your audience.
It can be a challenge to find interview guests for your podcast. But with a little groundwork and networking you can meet a variety of people who would be perfect for your show. Make an effort to reach out to those who can offer interesting and valuable content to your podcast.
Creating a podcast is a great addition to your business. It gives your customers the flexibility of hearing your information anywhere they have a mobile device.
A podcast can be a way to increase your revenue when you promote affiliate products, your own products or services, or take on advertising.
- Begin your podcasting career by making a plan for what you want out of your podcast, how you will use it to create interesting content for your listeners and the types of content you will be sharing.
- Find guests who will add value to your show and promote your podcast in all the ways you do in all of your business marketing.
- Remember, your podcast is not an infomercial. Don’t make it into a commercial. Your listeners are there for interesting and helpful information they can use. Your podcast shouldn’t be a sales speech for your products.
- You can add a commercial message as long as you do it before, somewhere in the middle or at the end of your podcast. Keep it brief, though. A short 15-second blurb is usually enough.
- Keep your podcast simple. Keep your message brief. It’s not a radio broadcast. Your listeners are short on time. They are there to hear short bites of information. Of course, the length will depend on the content you are delivering. For example, you can break up your sewing tips into several brief podcasts.
- Chop long podcasts into smaller ones. This gives you more content to share and the shortened length holds their attention better.
- Keep your listeners coming back by providing consistently good content. Let them know when the next broadcast will be. And give them a teaser on the subject.
The tips found throughout this report should help you get your podcast in front of listeners and keep them coming back for more.