Podcasting is a fun way to grow your own audience while talking about your passions. It’s basically the modern equivalent of a radio show. Anyone can start a podcast with basic equipment. However, keep it going is another matter. It takes a lot of time and effort to create a good show. It’s hard to justify pouring in such a large amount of resources unless the podcast can become financially sustainable. Then you can invest in better equipment and dedicate enough time on the project. Below are just some of the ways in which podcasters have gotten revenues out of their work:
This is the most obvious path for most. Radio shows sell precious ad spots as their main income generator. Podcasts can do the same but with a distinct advantage: there usually isn’t a time limit on these shows. Episodes can be 20 minutes short or over an hour long. It does not matter as long as it fits the chosen format. This frees up podcasts to discuss their sponsors in greater depth than in other media. They can talk about how they use certain products and how these benefitted them or other people. They can let product managers discuss these items for a bit while making the content fun and engaging for better outcomes.
The podcast can be segmented into two. There could be regular content for the general public and exclusive content for paying subscribers or patrons. For example, there might be free weekly episodes and an exclusive monthly episode. Make this extra special to get more people to sign up. You can sweeten the deal with freebies, Q&As, and early releases for the subscribers. If they can see the value in your content, then they will be more willing to take out their credit card and get onboard.
If the show gets enough traction, then you might begin to see people who are interested in buying your merchandise. You might sell shirts with your podcast logo and tagline. You could print memorable lines from your show across the chest area. These can serve as sort of an in-joke within your tightknit listener community. If you have a podcast about tidying up and managing your life, then you can sell organizers to help others take control. Coffee mugs, baseball caps, and pins are popular merchandise as well. Think about your audience and what they might like to purchase. Relevance to your niche is always a plus.
Some people will use podcasting as a way to further their existing business or career. For example, doctors might host a show that revolves around their field of specialty. They may discuss the latest research or trendy treatments. They can answer listener questions. This helps them to serve the general public while attracting more people into their clinics. Other professionals such as lawyers can do the same by dispensing legal advice and increasing the number of potential clients. Running podcasts are often hosted by coaches who get clients among their listeners.