A podcast is a great way to get your voice, your business or your organization out into the world. But if you are looking to have a podcast that makes income, there are some things you ought to keep in mind. It is certainly possible to make money podcasting, but be prepared to put in the work and pack a little patience.
1. Find Your Niche
When you choose your podcast topic it may be more beneficial to make it one more layer deeper. A niche audience makes it easier for you to pin down your target audience and attract sponsorship. Once you have found and connected with your tribe, your podcast is likely to experience more favorable results. A niche will also put you in a better position to make more money because advertisers tend to want to reach a specific audience with specific demographics.
2. Quality Matters
Be sure to put your best foot forward. This means that you need to have high-quality audio, images, social media and more. Podcast listeners are looking for proper editing, clear audio and engaging social media. So invest in great editing software and other podcasting tools to achieve a high-quality show. When a listener becomes a subscriber, they are invested and interested in you and what you have to say. Most audiences are preconditioned to expect clean and reliable audio. Television and radio have done a good job of setting a standard that podcasters should aspire to in order to succeed and create revenue.
3. Content Matters
Not only does what you put out need to look and sound good, but it also needs to have quality and substantive content. You need to offer your listeners and subscribers something special, and bring your top game. Take the time to carefully plan out what your topics will be, the layout of your show notes, guests, the schedule of your show, social media posts, and other matters that pertain to your show. Make sure that what you are offering your listeners is something valuable that they look forward to coming to.
4. Woo Advertisers
Once you’ve got a great niche and a niche audience, great sound quality, and top-notch content, you’re ready to start looking for advertisers. Businesses and organizations will be far more likely to want to reach your audience when they have a clear understanding of who your audience is. When you can tell a potential advertiser that you have x-amount of consistent listeners in a specific demographic that is likely to care about their business, they will be intrigued and want to work with you. Know your audience well, and logically seek out sponsors that your audience is likely to be interested in.
5. Other Podcasts and Affiliates
It may seem counterintuitive, but supporting other podcasts can be very beneficial. By partnering with another podcaster, you gain access to their audience, which can, in turn, grow your audience. The more listeners you have, the better your options and success with monetizing your podcast will be. You can also become an affiliate of businesses to earn commissions.
Monetizing your podcast doesn’t have to seem like an uncrackable code. With a little thought, preparation and creativity, your podcast will be generating more revenue than you may have thought possible.