In this final module of the course, we’re going to talk about how to make money from podcasting.
Podcasting has the power to create a brand around you. You might not have thought of yourself as a brand before, but as a podcaster, you can become a voice that people trust, follow, and react to. Once you’ve established a good rapport with your listeners by using the techniques we’ve outlined, you can use that brand to make money in various ways. There are options like donations, sponsorships, affiliate marketing, premium content, merchandising, product sales, courses, ebooks, and more.
Keep in mind that every market and every podcast is different, and how much you can earn will depend on how much people want to hear what you have to say. For example, a knitting podcast might generate support, but people might be more likely to spend money for a podcast teaching them how to pass their medical exams.
The more impact you have on people’s lives, the greater the potential for your podcast to earn. Remember, the potential for revenue doesn’t depend solely on the size of your audience, but on engagement. Ten thousand listeners who don’t respond to your calls to action are less valuable than 100 people who actively engage with your content and buy whatever you recommend.
It’s unlikely that you’ll start earning money from day one, because podcast monetization takes time. Once you have built a solid community, though, your influence will continue to grow, as will your ability to turn your podcast into a reliable source of income.
Ad networks might be the easiest way to start monetizing your podcast, but it’s also the place where you’ll likely earn the least money. Although your audience figures matter here, most ad networks work on a CPM (“cost per mille”) basis, meaning they pay a set fee based on how many people listen to your show.
There are three types of ads: pre-roll, mid-roll, and post-roll. Pre-roll ads are shorter and play before your content starts, usually around 15 to 30 seconds. Mid-roll ads play halfway through or at a natural commercial break and tend to be a bit longer, sometimes even up to a minute and a half. Finally, there are post-roll ads, which play at the end of the episode and are very short to catch people before they hit the stop button.
To start using ad networks, you’ll need to join a podcast ad network. Some networks may insert the ads automatically, while others may require you to do it yourself. Some podcast hosts even have built-in advertising platforms you can opt into.
These networks are usually associated with numerous advertisers, and they do all the work for you. However, the network takes a cut of your revenue, up to 30%, and the payouts are low, typically ranging from $10 to $20 per thousand listens. Another downside is that they don’t take into account how good your show is or how engaged your audience is; it’s just about the numbers.
Finally, most networks don’t take into account your topic or niche, so you may find your podcast about healthy eating running ads for a fast-food giant.
If you’re looking to connect with advertisers directly, platforms like Podcorn.com can serve as a meeting place for shows and advertisers. Just sign up, add the details of your show, and wait for advertisers to reach out to you.
This time you’re on your own! While this approach may require more effort on your part, it can also lead to higher earnings compared to working with ad networks. To make your show more attractive to potential advertisers, consider adding an application process to your website. This not only helps filter out advertisers who don’t align with your values but also shows that you’re “advertiser ready.”
Connecting with smaller advertisers can also serve as an excellent stepping stone to working with larger advertisers in the future. As you begin to run campaigns, tracking your results is crucial. Services like prettylinks.com allow you to give a memorable link you can read out on your show while also tracking how many times your listeners click the link.
If you notice that you’re effectively driving traffic to advertisers, it may be time to start growing the advertising side of your podcast. Finally, don’t underestimate the power of your own network. Reaching out to friends and acquaintances can often lead to big opportunities and higher margins.
As a rule of thumb, corporations and advertising agencies usually start looking at shows with more than 10,000 listens per episode. However, a large audience alone isn’t enough to attract them. You also need to prove that you can engage your audience and make them take action. Big advertisers expect results, so you need to show them that you can deliver.
Earning significant revenue from advertising on your podcast requires a substantial audience, typically 50,000 downloads or more per episode. That’s quite a lot! While this may seem daunting, below are some alternative methods you can consider to monetize your podcast effectively.
Affiliate marketing is a popular and relatively easy way to monetize your content. Essentially, you find a product or service that you want to promote and obtain a unique link from the vendor to share with your audience. When someone clicks on your link and makes a purchase, you earn a commission. Many bloggers, YouTubers, and influencers use this method to monetize their content.
One of the great benefits of affiliate marketing is that you can choose products that match your audience’s interests, and the setup process is relatively simple. However, it’s still up to you to encourage your audience to take action.
If you’re intimidated by the idea of “selling,” our recommendation is to stick to products that you genuinely use and like in your real life. Simply share with your audience why you like the product and how you use it. Authenticity is key, and people can tell when you’re not being genuine.
Getting started with affiliate marketing is easy, and you could start doing it today, even in your first episode. Companies like Amazon Associates provide a simple starting point. All you need to do is sign up, search for suitable products, and then grab a link you can share in your show. However, Amazon doesn’t pay high commissions, usually around 1-3%. But there are many other affiliate programs available with higher commission rates.
Other affiliate marketplaces, like ClickBank, Commission Factory and CJ (formerly Commission Junction), act as brokers for thousands of products. You can search their catalog of vendors, register with the individual vendors, and create that relationship that way. The advantage of these platforms is that you don’t need to negotiate rates with every individual company, you simply pick who you’d like to work with and make commissions from successful sales.
Our tip for the best way to make money from affiliate marketing is to really think about the products you work with. For example, if you have a show about project management and you did a course on it yourself, you can recommend that course with a real sincerity that will help make sales.
Additionally, there is nothing stopping you from setting up your own relationships with companies. Some podcasters have found companies they like and reached out to them, even when there hasn’t been an official affiliate program. You can simply approach them and ask if they’re interested in working with you, like this:
“Hello, I have a podcast on -topic- and I have -number- listeners and I think your product would be a great fit for my audience. Can we talk about an affiliate relationship?”
Accepting donations is one of the simplest ways to monetize your podcast. When your audience appreciates your content and wants to show support, they may donate as a way of thanking you. In fact, some podcasters have been able to make a full-time living off of donations alone.
Setting up a donations block on your WordPress.com site is a breeze and can be done in a matter of seconds. Alternatively, you could use platforms like BuyMeACoffee to accept donations from your listeners.
If you want to encourage more donations, consider giving your supporters something in return for their contribution. One way to do this is by providing perks, such as exclusive content or behind-the-scenes access. If you’re using WordPress.com, you can use the Premium Content block to protect your content and share extended edits of interviews and exclusive information with your donors. Alternatively, you can use platforms like Patreon that offer similar features.
If donations prove to be successful and you’re looking to take things to the next level, consider adding a membership feature to your project. With a WordPress.com Business plan, you can use membership plugins like WooCommerce Memberships or Paid Memberships Pro, you can give your subscribers their own accounts, forums, special resources, and more.
Partnerships can be a lucrative way to monetize your podcast by collaborating with others in your field and at a similar stage. For instance, you could team up with another podcaster and create a series of episodes that promote their product.You can use special links to track sales, just as with affiliate marketing.
However, it’s worth remembering that when forming partnerships, you’re not only representing yourself and your partner, but also your audience. While you may find the best deal, if your audience feels that you’re solely focused on making money, it may negatively impact their perception of your podcast. So, it’s essential to strike a balance between promoting your partner’s product and keeping your audience’s interests in mind.
Monetizing your podcast through selling your own products is an option that can potentially bring in significant revenue. Building a community around your podcast can help you identify your audience’s “pain points” and provide solutions that they may be interested in. By listening to your listeners and understanding what they want, you can develop products that meet their needs.
Courses are a popular way to monetize your podcast as they allow you to organize the information you have gathered into a structured format. There are various ways to run courses on your website, such as with Sensei LMS and WooCommerce Memberships. Once you have set up your course, you can earn money without having to provide much additional support.
Another way to monetize your show is through merchandise. Many podcasts create special products such as shirts, mugs, pens, and stickers, which they sell on their website. There are companies that will print merchandise on demand, so you don’t have to purchase in bulk or store inventory. Plugins such as WooCommerce and Printful can help you set up an ecommerce shop on your website.
However, it’s important to keep in mind that revenue from merchandise may not be very high due to the costs involved in production, packaging, handling, and shipping. Printful and similar services may take a significant cut of the profits.
Overall, creating and selling your own products can be a great way to monetize your podcast, but it’s essential to listen to your audience and provide solutions that meet their needs.
Let’s consider how you can make money with your podcast:
First, think about your audience and what they’re looking to get out of your podcast. If you don’t know your audience yet, it’s okay to guess for now. What problem do they need solved? Why are they listening to you?
Since there’s only so much you can offer them directly through show content, consider what products or services your listeners might find useful. How can you help them get more of the value they came to you to find?
With these answers in mind, make a list of at least three monetization approaches you would like to take.
Thank you for spending your time with us to learn about Podcasting with WordPress.com. We hope you’ve had as much fun as we have!
Keep learning
As with any skill, mastering the art podcasting requires practice and continuous learning. We encourage you to explore more resources on Learn WordPress.com, experiment with different tools and methods, and continue improving your skills.
Your feedback matters
We’d love to hear about your experience with this course. Your feedback helps us improve and offer more relevant content in the future.
Thank you
Finally, thank you for choosing to learn with us. We’re excited to see what you’ll create with your newfound knowledge. Remember, the world needs your unique voice and expertise. So go forth, create, and share your knowledge with the world!
Back to top