Today, internet radio can be streamed from most anywhere and, as such, podcasting has become almost as ubiquitous as traditional radio.
Like anything else in the age of the internet, people took notice and started creating their own podcasts to stream with friends and audience members. While starting a podcast is relatively easy and inexpensive, growing it is another story.
Here are the five ways to grow and monetize your podcast.
Launch your podcast:
Once you are confident that you have what it takes to create your own podcast, it is time to try your hand at online radio. When you have your podcast up and running you’ll find there are several ways you can make money with it, even if you’re new to the game. You can choose to run your podcast on platforms like ConnectPal. All you need to do to get started is to create a ConnectPal profile page and invite your audience to join.
Product Mentions:
Once your podcast grows and has a large enough audience, you can receive income in the form of sponsorships and product mentions. You could try product endorsements by simply mentioning the product during your podcast.
Affiliations:
There is a distinction between affiliation and sponsorships.
- Affiliation takes place when the product you have promised to promote gets sold to your audience. You would get a certain percentage of the sales for every product purchased.
- The larger your audience is the more likely you are to receive affiliation offers.
Crowdfunding:
Crowdfunding is another option you have if you want to make money off of your podcast. Here, you would raise capital through the collective effort of friends, family, customers, and individual investors. This approach taps into a large pool of people that you reach primarily online via social media or other crowdfunding platforms.
Syndicate to YouTube
Another way to make money off of your podcast is by publishing it as a YouTube video and then choose “enable monetization” in your account settings. How much money you can make from YouTube depends on a few factors such as how long people watch, whether they click on your ads and whether they hit ‘like.’
As podcasts continue to become popular, now may be your chance to jump in on the action and create your own show. By doing so, you could be on your way to growing an audience and making money.