Podcast Monetization Options, Part 2Jan 02, 2023
Monetization options for podcasts continue to be a hot topic in the podcasting space. And even if your goal isn't to monetize to make a profit, the money your podcast earns can be reinvested back into the show to upgrade your equipment, to learn better techniques, and to hire help on those day-to-day tasks that make you able to create new content each week.
(*ahem* We know know just where to go to get help when you're ready to hire. 🙂 )
A few weeks ago, we talked about monetization options for podcasts, but we just scratched the surface of options. So here are 5 more options to monetize your show.
Ask for Donations
Donations are a great way to ask your listeners for their direct support of your show. A few dollars from each listener can go a long way to helping you cover the costs to run your show and perhaps even bring home some extra. Donations can be really simple - a link to a PayPal checkout- or they can be more complex and serviced through a platform like PayPal.
2. Repurpose Episodes into a Book (That you sell on your own website and on Amazon)
We at Podcast VA Association are huge into repurposing content, and this one is a great way to repurpose your solo episodes, especially if you find that there's a common theme, lesson, or topic in many of your episodes that your audience resonates with. Transcription software like Descript makes it easy for you to turn old episodes into text so that you can clean them up and edit them. While you may think it's difficult to sell a book, the ease of self-publishing in 2022 and beyond makes this feasible for any podcaster.
3. Host an Event & Sell Tickets
People love events, and you have so many options to choose from. You could record a live podcast and sell tickets, throw a party to celebrate a milestone with your podcast, get a small group of listeners together for coffee in your nearest town, or even host a retreat! Whether your event is virtual or in-person, events bring your listeners together, helping them bond with one another and with you, making them more likely to continue to listen to your show and to send others your way.
4. Start a Membership
A membership is a really flexible way to make consistent income with your podcast. You can have several different levels with different perks for each level. Memberships can include members-only content, direct access to you as the host, free resources that relate to the topic of your show, or even gifts that you send your audience each month. And, platforms like Kajabi (affiliate link) make it super easy to get started. We set up our VA membership in Kajabi with course materials, a private community, and monthly live training sessions and it took just a few hours to get our site and membership portal up & running.
5. Logo Products
People love to show their support for their favorite things, and logo gear like mugs, t-shirts, and stickers are a fun & profitable way to encourage your listeners to show their support for your show. Plus, think how much easier it will be to for your listeners to share your show when your logo & show name are blazoned across your chest! There are lots of online shops get getting custom-created gear, but we love Crafters Chaos, a woman-owned business in the Midwest founded by a young mom after the loss of her husband.
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 logo gear or hosting an event, even with a very small audience, so you can profit 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
Questions on how to implement any of these strategies? Head over to our public group, Podcast VA Hub and drop your questions in there.
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.