A successful way to monetise your podcast involves intention, consistency, and serious patience. It’s great to have a goal of making money off your show, but if you don’t create a strong demand for your content first, even the best monetisation strategies will fall flat.
Make sure you’re covering a few of the below points to create a podcast that will consistently grow, create demand, and ultimately make you money!
1. If you don’t already draft show notes for each episode, start now! Show notes are an easy way to share links to your show’s merchandise, website, and other outlets.
2. Sign up to Apple Podcasts Subscription service. You can offer shows with paid subscriptions, or fans can listen to free shows that come with additional benefits when they subscribe
3. Partner with affiliates. For most podcasters, affiliate marketing is easier to set up than finding sponsors. When you partner with an affiliate, you agree to read a short ad on your show promoting a product in exchange for a commission from the company on each sale made.
4. Get podcast sponsorships. Sponsorships are a contractual agreement where companies pay you a set amount just to mention their product. As you might have guessed, getting approached by a sponsor usually means you have some clout in the podcasting world. If you aren’t big enough to have sponsors approach you, you can do your own research to find relevant sponsors and reach out to them explaining why they should pay you to promote their product.
5. Create an online course. Online courses are rewarding to make and can generate more revenue for smaller podcasts than almost any other method. To create a profitable course, get to know your audience through surveys, Q&As, and social media.
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