- Marketing Strategy
Strategising creative content can be a little tricky as it does not belong to the mainstream industries. At the same time, it as well has immense scope to experiment and explore. One of the best ways of marketing such content is Affiliate marketing. In simple words, affiliate marketing is to refer listeners to another podcast-generating company and gets paid for the same. To connect to such companies, the best tool is buzzsprout or popcorn.
Affiliate marketing or performance marketing is where you get a commission when you refer people to other companies. You will typically earn money when someone makes a purchase. Affiliate marketing works best when you promote products or services that you use or are familiar with, so you can authentically promote them.
You could create your own “ad” spot to promote an affiliate offer if you don’t have the audience size for traditional sponsorships. Or you can naturally include a mention of a product or service as you deliver your regular content.
- Create a paid e-course
If your podcast is informative or educational in some way, an e-course is the perfect way for you to monetize your content. Creating an e-course doesn’t need to require too much investment. Your e-course can simply synthesize the content you share on your podcast with a couple of additional tips, tricks, and practical advice.
E-courses are attractive to potential buyers because they are concrete results based. They know exactly what they’re buying into and what they’ll get out of it.
Plus, because you’ve got a captive audience already, the likelihood is you’ll have loads of takers as soon as you release your course.
- Seek out sponsorship and ads
Building a strong community will always help in the long run. Advertising and sponsorships are probably the first things you think of when looking for ways to make money from podcasting.
There are several different podcast ad networks that can connect you with advertisers. They do all the work of finding advertisers, negotiating rates, getting the script, and more. You usually need a larger audience of at least 5K or 10K listeners per month to work with them.
One of the largest ad networks is Midroll, another popular network is Authentic, and many podcast hosting companies have their own networks as well.
Another option that can work well if you have a smaller or more niche audience is to reach out directly to companies that would be a great fit for your audience.
- Accept donations and host live podcasts
Not every podcaster will reach the heights of popularity needed to secure a gig at a live venue. However, this does not mean hosting live shows or making money from them is out of the question.
Sites such as Twitch, YouTube, and Facebook all allow users to set up live broadcasts that can be viewed by anyone around the world with an internet connection. These are great alternatives to live venues, as the initial costs are low, and you can use the same place where you normally record your podcasts.
While you record your live podcast and accept tips via Mezink App. Set up an account and leave a link visible either on screen or in the stream’s description box or chat log. These are instant, one-off payments—much like you would give to a barista or waiter—that can be paid at any time during your performance.
The cool aspect of these tipping services is that they don’t need to be exclusively connected to your live streams. Add a tip to your web pages, show notes, or social media pages to make it easy for your podcast audience to show their support by tipping.