Hi! I am Anoosh and in today’s blog I am going to discuss about how to monetize a podcast. In the past few years, podcasting has become a powerful platform for content creators to earn passive income. People during walk and travelling, don’t want to waste their time while sitting idle. They love to listen podcast to relax their mind and to get knowledge.
However, if you want to become a podcaster, you have to create engaging and informational content to grab the attention of listener. And if you are doing a podcast, monetization is the crucial step to generate substantial income. There are different methods to monetize your podcast like advertising, merchandise, affiliate marketing, live events and workshops.
I will explain in detail about how to monetize a podcast and the best strategies to generate more income.
What is podcast?
Podcast is basically a type of radio show where RJ use to talk about different topic while playing background music. But a podcaster talk about particular topic in detail. A lot of podcast comes in the audio file that people use to listen during walk and travelling. But some of the podcast comes in video files also.
A clear and effective voice is a Foundation to get success on podcast. Podcast is basically a downloadable audio file that user use to listen while doing work also.
Starting your own podcast: A Beginner’s guide
Do you ever want to share your thoughts and ideas by sharing your voice with different people of the world? It is actually possible now a days to share your ideas and your point of view about a specific topic with the world. Podcast provide you a platform to make aconnection with the listeners and talk with them to make your community. And by talking about a specific niche, you earn income.
Here is step by step guide to start your own podcast:
1: Define your podcast
If you want to start your own podcast, you have to define your podcast that which one is your favorite topic to show your discussion to people. To choose your niche must be your main focus if you want to do a podcast for a long time.
Because if you will be interested to talk about that topic, you will not get bored in future. You will enjoy your podcast journey and if you will enjoy, the audience will automatically love to listen your podcast.
After selecting your podcast niche, you have to identify your targeted audience. Select the main audience to whom you are trying to convey your message.
Set up your goals. Your goals must be clear that which you want to get through podcast. It may be an ambition to generate passive income or to build up your community or to share your experience with the people. If your goals will be clear, you will achieve more success in your podcast journey.
2: Plan your content
After thinking about your niche, you have to plan your content strategy. To make a plan about your content, the first step is to create an outline of your podcast. Divide your podcast into 3 steps to Grab the listener attention. In the first step, you can describe the topic of your podcast. And also describe the middle and end point of your podcast.
If you want to do a solo podcast, you have to make your whole plan about the episode of the podcast by yourself. But if you don’t want to do a solo podcast, you can also take an interview of someone other to generate a podcast episode. Plan the interviews strategy to attract the listener.
Plan about your time frequency that after how much time you will upload your podcast episodes. You can upload 2 episodes in just 1 week. You have to be consistent while uploading your podcast episode because if you will upload your podcast episode on a regular basis, your audience will wait for your next episode.
3: Invest in equipment
- For a successful podcast, is it is very important to invest in equipment like microphone, audio software, headphones, computer, laptop or any digital devices that is necessary to record your podcast.
- If you want to record clear audio, you must have a good quality microphone. To connect your microphone with any device, you have to get the connecting devices like laptop, Pc, or mobile.
- Get a high quality headphone. Headphone will help you to monitor your voice.
- You must have the latest generation computer or laptop to record your podcast because a lot of software need latest generation computer to run on these devices. So, if you want to edit your podcast like a professional, you must have a good quality computer or internet.
4: Choose recording software:
The most crucial step is to record any podcast is to choose a recording software. Because software will help you to record your clear voice. Like audacity is the best app to record your audio and you can also remove your background noise from this app and edit your voice like a professional.
If you are a beginner, you can use audacity app but if you want to get more premium features, you can also use some paid softwares like adobe audition is the most popular app to record the podcast.
5: Record and edit your podcast
After selecting the recording software, you have to record your podcast from these software and then start editing. The software allows you to reduce your background noise. If you are recording your podcast, you must ensure that you environment is clean and noise free.
After recording your voice you can remove the unwanted background noise and adjust the pitch and level of the voice. Add some attractive intro to attract the listener attention.
6: Choose a hosting platform
After recording and editing your podcast, you have to choose the best hosting platform where you want to host your podcast. Spotify, Podbean, Anchor are the most famous hosting platforms for a podcaster.
7: Distribute your podcast
You can also distribute your podcast to the most well reputation podcasting platforms like Spotify, Google podcasts and Apple.
Share your podcast on different social media platforms and different online communities to promote it.
8: Engage with your audience
To become a successful podcaster, you have to engage with your audience. Make a communication and try to make a relationship with your audience by responding to the messages. You may also ask for the feedback of your listeners that whether they are enjoying the audio of your podcast or not. You can also collaborate with other podcasters to reach your podcast with a great audience.
Different Strategies to monetize your podcast:
After making your podcast episode, it is a better time to adopt monetization strategies to generate substantial income. Here are some different ways to monetize your podcast.
- One of the great way to monetize your podcast is the direct monetization like you can collaborate directly with different advertisers, sponsors and companies for direct monetization.
- You can also also adopt different affiliate marketing strategies. While making a podcast, you can promote the link of different products. Whenever any listener will buy product through your affiliate link, you will earn Commission.
- You can also sell different Merchandise items like sell mugs, t-shirt, and bags.
- You can also make passive income by offering different coaching services online. Like some people want to consult about their problem, you may offer consultant services.
- To make more income from podcast, you can also sell different types of books related to your podcast niche. Because the listener also love to read about that topic to get more information.