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The Top Five Winner-Methods To Monetize Your Podcast

Before diving into the best battle-tested ways to monetize your podcast, let’s clear one thing right off the bat. If you are willing to start a podcast to boost your bank account with quick cash or are seeking “financial independence” via podcasting, then you are most probably embarking on a hustle to disappointment.

Starting and nurturing a podcast growth is a passion project rather than a “quick and easy rich” scheme.

Now, with this misunderstanding off the table, if you are passionate about podcasting, there are dozens of ways to monetize your podcast! So, having covered the basics of podcast monetization before, here we are presenting SayWHA Radio Network’s list of the top 5 most successful ways of monetizing your podcast.

Best Podcast Monetization Tricks

Podcasts are exploding in popularity and therefore have become a substantial profit-driving business for many podcasters. But how are successful podcasters able to drive massive income off their hobby? And can you do the same?

Well, you sure can! Here are the top 5 ways through which you can start generating a decent income with your podcast hobby with a scope of growing substantially:

1 Sponsorship Deals

Advertising and sponsorship are often considered the “default” option for monetizing podcasts.

But, in reality, sponsors are still too fixated on numbers instead of engaging and interacting with the audience. It is clear to both you and me that 1000 engaged listeners are far more valuable than 10,000 casual ones.

For that reason, if you’re interested in getting a sponsor for your program, make sure the sponsor fits with your topic and engages your audience by telling them your real-world engagement stories. You should discuss how this can be turned into sponsorship conversions.

Smaller and local companies might be more likely to support your podcast if you talk to them about how they can benefit from the sponsorship than the larger establishments in your podcast’s initial stage.

We have a full article on how to set up podcast sponsorship if you want to learn more. Check out (link to how to get a podcast sponsor article)

2. Donations/ Tips

One of the simplest ways of monetizing your podcast is asking your loyal listeners for donations. It might sound like a tough road to follow, but you’d be surprised by how many of your fans are willing to make a donation to support their loving podcast show.

Since the “asking for a donation” monetization strategy can be adopted at any stage of the podcasting, it is a great way for the new podcasters to start making cash out of their passion. Along with the option of donation for the podcast,  you can also ask the audience to simply tip the creator/host for their work and dedication.

There are numerous service providers you can choose to collect donations from. For example, SayWHA Radio Network partners with Pateron for the donation collection. Some of the other options are GoFundMe, PayPal, and Stripe. Once you have an account in place, simply ask your listeners to chip in with whatever they can for the show.

Bear in mind, you need to sell your donations to your listeners, and it can only be done by being authentic about the reason behind the donations. Will the donations help the channel create more valuable content for the listener? Do you need to buy new equipment for better podcasting? Be transparent with your listeners, and they will surely come forth to lend a hand.

3. Affiliate Marketing

This is a good option to consider, especially if you have a rather technical show and frequently mention resources. In a recent interview, The Audacity to Podcast leader Daniel J. Lewis revealed affiliate commissions are a key source of income generated from his show.

If you are running a wellness show or self-confidence-boosting podcast like Life as P, or Corporate SWAG, then your podcast is likely to produce evergreen podcast content. Therefore, you shared an important piece of information yesterday that is still relevant today and will remain relevant for many months and years to come.

Podcaster could, therefore, potentially generate passive income from affiliate marketing as your show grows.

4. Premium Content

Once you have an established listenership, by creating premium content for the paid members of your podcasts, you can take your podcast business to a whole new level.

You can start charging subscription fees for your exclusive content, one that is not available for your regular feed. For example, you can start releasing two episodes per week, one for paid and one for the rest of the listeners. It could be:

  • Live recorded shows
  • Long-form Q&A with some podcast guests
  • Completely ad-free show

Obviously, you have to provide something more valuable to your listeners to sign in for the premium membership and encourage them to stick for more. Providing a slight premium insider could in-fluctuate more listeners to opt for the premium membership.

For podcasts with a larger backlog of episodes, another gem you can provide your premium listener is the back catalogs of your older episodes. For example,  SayWHA Radio has been on the air for over a decade now, and we have moved the majority of our older episodes to Pateron only for our hardcore fans.

5. Repurpose your Content

So far, every monetization strategy mentioned here relies on a podcast with an already established or building listener base. But, by repurposing your podcast content, you can start earning a handsome sum even before you have won one loyal listener for your show.

Have you read the book Tool of Titans? It is an apt example of repurposing your content. You simply take the information shared in your episodes and turn it into sellable products like a course or books.

Word of Caution

All the above-mentioned ways are incredible paths to generating a little to huge income with your podcasting passion. But, the level of success of the method is directly dependent upon the quality of your podcast content, efforts you put into scripting, recording, editing, posting, and promoting each episode, and, most important, listener-host connection.

Don’t aim to make $5k with the first episode. Building a podcast community and trust amongst your listeners is a time-taking process.

Podcast Monetization: Closing Thoughts

Even though your passion for your topic or niche should inspire you to the podcast, that does not mean that you cannot make money from it. Using any or all of the above methods is a viable option for any podcaster who wants to monetize their show.

It is important to realize, however, that any monetization method has to be implemented. By engaging your listeners consistently and keeping them coming back for more, you will grow your audience and build your community. Creating high-quality episodes should always be your top priority. Do everything you can to create them.

As a last word of advice, you should keep sharing all that valuable content in order to establish yourself as a trustworthy authority in your niche. Follow the above winner-methods and you will soon start making a great support for your podcast.

Let us Help!

Though there are numerous ways through which podcasters makes money, we understand that monetizing your podcast can be a tough road to walk, especially alone. That’s why, SayWHA radio network wants to walk alongside to direct you easier and more fruitful ways to your podcast moentization.

Want to know how? Contact us 

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