quick and super-effective tips to monetize your podcast

TIP #1 Record a high production value podcast

If you want to make money from your podcast, attract lucrative partnerships, and capitalize on your brand, you need to be recording a professional standard podcast. Your listeners and potential sponsors are more likely to commit to and support your podcast if it lives up to expectations. There’s nothing worse than subpar audio or lackluster editing cramping your style. Use Riverside to record a professional studio standard podcast from anywhere in the world - you won’t be disappointed. Learn more about Riverside here, or you can sign up to start recording.

TIP #2 Build a community

Before you even begin to think about monetizing your podcast, you need to think about your audience and community. They’re a podcaster’s most valuable asset. But it’s not just a numbers game. Obviously, it’s important to build out a big audience base, but what’s even more important is cultivating a sense of community and personal relationship.If you can nurture a listener’s community that supports you and your podcast, the likelihood is your audience will respond positively to the adverts, affiliate links, and sponsorships that you include in your show. Plus, if you’ve got a super captivated audience, you’ll be able to charge more to advertise with you.

TIP #3 Think about what kind of monetization will work for you and your audience

What works for one podcast, may not work at all for another. You’ve got to know your audience and your podcast to know how to make money effectively. Depending on how you pitch yourself, what kind of listeners you attract, and what purpose your podcast is serving, different methods of monetization will be more appropriate. For example, if you’re a comedy podcast, chances are designing an online course will be a waste of your time, whereas a sponsorship deal will be better. If you’re a teacher or coach of some sort, the inverse might be true.                   

 TIP #4 be open to diversifying your brand

In an ideal world you would be able to generate direct income from your podcast through sponsorships and ads, and that would be the end of it. However, unfortunately this is not always possible - especially if you have a smaller audience base. If you’re determined to make money from podcasting, it’s essential to open your mind to other potential revenue streams that may involve diversifying your brand and your content offerings. This could be anything from online courses, coaching or simply recording additional episodes exclusive to your subscribers. Think outside the box.

TIP #5  Strike a balance and don’t be afraid to say no

 If you’re on a tight budget or need to make ends meet, any chance to make money from your podcast will be a Iife-saver. But at the end of the day, you know your podcast and audience best. Try as far as possible to strike a balance between your financial ambitions and your podcast’s integrity. If your gut is telling you a certain deal or partnership just isn’t right for your podcast, don’t be afraid to say no. Chances are, a better deal is just around the corner.

By : Bobe Nkwain Chiambah