How to Make Money with Podcasts

A podcast is a downloadable digital product made in different multimedia. They are produced as digital audio or video files.
They are made into episodes and downloaded on computers, smart devices or other devices. The industry is highly profitable with over 50 million views a month.
Creating one is inexpensive and relatively easy. This makes it possible for anyone to venture into the business.
Types of Podcast
There are different types of podcasts based on file formats. We have EPUB, PDF and video downloads.
The video format is the most common and popular platform. Different variations include enhanced podcast that feature images alongside audio. Others are audiobook, vocast mostly web television series and video clips. More include podguide, political podcast and oggcast.
microphone
Equipment
The equipment you need is basic and easy to source.  Buy a laptop, microphone and soundproofing system.
Focus on Topic
When creating a podcast you need to focus on a niche. Offering generalized subjects or those that appeal to a mss audience comes with its own challenges. 
Mass audience subject has serious competition and finding your voice requires unique point of view and innovative content. You can always carve a place in a mass market but it will take several years.
However narrowing your choice to long tail subjects or smaller fields would easily find your audience. This is because there are fewer players and your content would attract a specific market. Finally you need to develop your social marketing technique to create interest in your production.
Build Your Talent
To become a major player in the podcast business you need to develop your talent. Learn how to create a clean, audible production.
Learn how to interview guest the proper way. Crete quality content and remain consistent. Other requirements are proper editing, field recording and build an engaging community. Learn how to build apps, use call to action and produce relevant content.
  • Experience
  • Learn through books
  • Develop your interviewing skill
  • Attend seminars
How to Make Money with Podcasting
There are many monetization strategies to deploy. Common ways are through sponsorship, affiliates and product sales. Others are course creation, donations and coaching services.
Donations
Although donations are generally for non profit they could bring in some cool cash. You can seek participatory contributions. Make sure you acknowledge their donations and offer value added products.
Advertisers and Sponsors
Advertiser and sponsors are only attracted to an attractive product that has a dedicated audience.  A large audience in a specific niche is ideal for companies in that industry.
The podcast should be attractive, competitive and engaging. Sponsors are also interested in the number of impressions, engaging audience and audience behavior.
If you audience are likely to take action then the sponsor is very happy. The main reason any company spends money on advertisement is to get a response to their promotion.
Try to develop a unique selling proposition for potential sponsors.  If you achieve lots of downloads per episode you are guaranteed regular income from sponsors.
What Sponsors Want
  • an attractive product
  • a dedicated audience
  • a specific niche
  • competitive and engaging content
  • number of impressions
  • engaging audience
  • they study audience behavior
  • to get a response to their promotion
Become a Podcast Consultant
If you have developed a talent to create good podcast why not leverage on your knowledge. You could become a consult and offer to tech people the skill. This could become a very lucrative venture.
People looking to improve on this SEO and drive traffic to their website would subscribe to making podcasts. You also have social media marketers and companies looking to drive sales. Earn income by helping other to make podcast, social marketing and content creation.
Who need Podcast Consultants?
  • People looking to improve on this SEO
  • Drive traffic to their website
  • What to build podcast
  • Webmasters
  • Social media marketers
  • Companies looking to drive sales
Product Re-Seller
You can achieve good earning as a product reseller. Using a drop-ship template you can markup your earning by 50%.
Another way is to repackage a product, add value and resell. Work on a product yourself and sell directly to your audience.
Selling products require a payment gateway, ecommerce software and SSL certification. Others include reseller license, tax identification number and distributor agreement.
What You Need to Sell Your Product
  • a product
  • a payment gateway
  • ecommerce software
  • SSL certification
  • reseller license
  • tax identification number
  • distributor agreement
Affiliate
You can use affiliate marketing to earn money from podcasts. To use affiliate programs only recommend product your audience can connect with. Provide quality content, offer you audience deals, and focus on holiday discounts and promotions.
Use email marketing to targeted audience and drive sales.  A good place to look for an affiliate partner is Amazon.com. The only problem is that the commission is low.
How to increase affiliate Earnings
  • Find products with higher commission
  • Contact manufacturers directly
  • Recommend quality products
  • Use social media marketing
  • Promote through a blog
  • Provide quality content
  • Offer audience deals, coupons and discounts
  • Use email marketing
Coaching and Courses
 You can earn income from audio or video coaching.  Use RSS, PDF and different formats to offer personalized engagement.
The top way to make money is by offering courses to your subscribers. Create ‘How to Courses’, on topics related to your subject. Offer your audience premium products for a price.
Offer Subscription
Earning through subscription is another way to monetize your podcast. Offer your audience exclusivity through premium content. Develop an exclusive community, exclusive episodes including back- catalog of episodes. 

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