Podcast Monetization Options, Part 1Nov 08, 2022
As the costs for producing & publishing podcasts continue to rise, many podcasters are looking for new ways to monetize their shows. While traditional ads (or even the non-traditional ads we talked about last week!) still reign as some of the most accessible options for most podcasters, creative podcasters are finding all kinds of neat ways to make money. Here are 5 of our favorites.
Give your paying listeners extra content each month when they donate to your show. Get hooked up with a platform like Patreon, which manages your community for you, or simply create a private podcast that only subscribers can unlock. There are lots of options for creating premium content that get your top fans to help support your show.
2. Join a Podcast Hosting Company that Pays You
Some podcast hosting companies, like Luminary, operate on a subscription model. Instead of a free platform, Luminary charges users $4.99/month to access content, and Luminary pays podcasters to create content for their platform.
3. Content Upgrades
Offer your audience something tangible to foster deeper connection with your show. This works really well when you have a podcast that teaches something: for each episode, you can offer a paid downloadable product to help them implement the lesson you taught. For an episode on more efficient spring cleaning, you could create a downloadable checklist with a list of items your listeners can complete each day to get their whole house deep cleaned in just a few weeks.
4. Coaching or Consulting
If your podcast is focused on personal development, your audience might benefit from one-on-one time with you in order to help them achieve their goals more quickly. You could offer individualized coaching sessions to listeners who want next-level support from you.
5. Public Speaking
Use the skills you've honed in front of the microphone and start hitting the road as a speaker! Even small conferences and communities pay for speakers. Plan your signature speech topic, and start pitching yourself to communities and groups that would value your expertise.
What Does This Mean for Me?
For Podcasters: Don't think you need to wait until you have thousands of downloads to start making money! You can start selling consulting services or premium content to a very small audience and profiting from your show right away. Let your creative juices start flowing and you could implement one (or a few!) of these monetization techniques before the holidays arrive. Consider hiring a certified podcast VA to help with the research, creation, and management of your monetization plan.
For Virtual Assistants: Learn everything you can about monetization options, and start discussing them with your clients and/or on your promotional content. You can make yourself a highly valued team member for your podcast clients if you can help them earn money from their show. There are so many options here:
become specialized in helping podcasters monetize through one of these methods and make this your signature service
research the best monetization options for your existing clients and help them chose the right strategy
bring in new clients with the promise of guiding them through the implementation and setup of money-making options for their shows
upsell your existing clients into a higher-level package where you manage the monetization process for them
Don't miss a beat!
New moves, motivation, and classes delivered to your inbox.
We hate SPAM. We will never sell your information, for any reason.