Podcasting isn’t just about sharing your passion—it should be a source of income. Whether you’ve got a handful of loyal listeners or a full-blown audience, there’s a way to start monetizing your podcast. Let’s break down how to make money from your show, no matter where you’re at in your podcasting journey.
1. Start With Affiliate Marketing
Affiliate marketing is one of the easiest ways to start monetizing, even with a small audience. Here’s how it works:
- Promote products or services you genuinely believe in.
- Share a unique affiliate link with your audience.
- Earn a commission for every purchase made through your link.
Pro Tip: Focus on affiliate programs that align with your niche. For example, if your podcast is about fitness, partner with workout gear or supplement brands.
Warning: Over-saturation of ads or promotion of goods and services you don’t actually believe in will RUIN your brand. Make sure you only promote what you can sign your name to!
2. Create a Patreon or Membership Platform
If your listeners love your content, they might be willing to support you directly. Platforms like Patreon or Buy Me a Coffee let you offer perks like:
- Exclusive episodes.
- Behind-the-scenes content.
- Shoutouts in episodes.
Pro Tip: Make your membership tiers affordable and enticing. Start with small perks like early access or bonus content to build momentum.
Warning: Understand the difference between fan-generating content (which introduces new listeners to your podcast) and loyalty content (which keeps fans invested and “in the know” on a deeper level.) There has to be a solid payoff.
3. Use Dynamic Ad Insertion
As your audience grows, consider running ads. Dynamic ad insertion lets you place ads in your episodes and change them over time, even in older episodes. Ad platforms like Podbean or Anchor can help with this.
Pro Tip: Keep ads relevant to your audience. A random ad for cheeseburgers might feel out of place in a podcast about vegan cooking. 🙃
Warning: Ads are annoying. Try to integrate them organically and in ways that add value to your audience instead of distracting them from what they actually want—you.
4. Sell Your Own Products or Services
Your podcast can be a platform to promote your own offerings. This could include:
- E-books or guides.
- Courses or workshops.
- Branded merchandise (hello, custom mugs and T-shirts!).
Pro Tip: Mention your products naturally in your episodes, like a casual recommendation, rather than an infomercial-style pitch.
Warning: Product placement can be a great option here! Steven Crowder always has his “Mug Club” mug on set and it’s become iconic. That said, constant promotion is annoying. I can only use so many newstalk mugs.
5. Offer Sponsorship Packages
Sponsors love podcasts with engaged audiences. Start by creating a media kit with:
- Your download stats.
- Audience demographics.
- Examples of past collaborations (if you have them).
Reach out to brands that align with your niche and offer sponsorship packages, like pre-roll or mid-roll ads.
Pro Tip: Even smaller podcasts can secure sponsors if their niche is highly targeted. A podcast about rare houseplants might be small but valuable to a plant-care brand.
Warning: Never soil your brand (plant pun!) with disreputable or controversial advertisers outside of your niche. Why isolate many of your listeners over unrelated topics?
6. Host Live Events or Webinars
Turn your podcast into an experience by hosting live events. These could be:
- Live recordings of your show.
- Interactive Q&A sessions.
- Paid webinars or workshops.
Pro Tip: Leverage platforms like Zoom for virtual events or collaborate with local venues for in-person gatherings.
Warning: Live events are harder to control. There’s no editing so be sure you know who is there to say what so it doesn’t run away on you! You need a quiet, controlled environment.
7. Use Crowdfunding for Big Projects
Have a big idea, like starting a video version of your podcast or creating a mini-series? Platforms like Kickstarter or GoFundMe can help you raise funds directly from your listeners.
Pro Tip: Be transparent about where the money is going. List specific goals, like upgrading equipment or hiring a professional editor, to gain trust.
Warning: Don’t just beg for money. Offer perks, extras, or partnerships that add value to the lives of those who invest in your dream!
8. Monetize Through YouTube
If you’re already recording video versions of your podcast, upload them to YouTube. With enough views and subscribers, you can earn through YouTube’s ad revenue program.
Pro Tip: Optimize your YouTube videos with eye-catching thumbnails and SEO-friendly titles to attract new listeners.
Warning: Doing this badly is worse than not doing it at all. Do your homework and do it well—or not at all.
9. Partner With Other Creators
Collaborate with other podcasters, bloggers, or influencers to cross-promote and monetize together. For example, co-host a sponsored episode or sell joint merchandise.
Pro Tip: Pick partners who complement your style and share a similar audience for the best results.
Warning: Stick to your niche! Relevant is more important than popular when choosing who to partner with.
10. Offer Coaching or Consulting
Position yourself as an expert in your niche and offer personalized coaching or consulting services. Whether it’s podcast production tips or niche-specific advice, there’s always someone willing to pay for expertise.
Pro Tip: Use your podcast to showcase your knowledge, and direct interested listeners to book a session with you.
Warning: Everyone and their brother is a coach these days. Lead with testimonials from people you’ve actually helped and show your audience why you’re legit.
Real Money
Monetizing your podcast isn’t about hitting a specific listener milestone; it’s about understanding what your audience values and leveraging your strengths. Start small, experiment with different methods, and scale as you grow.
Now, go out there and turn your passion into profit—because your fans want more and everyone should be paid for adding value into our lives. 🎙️💸
