After the Covid-19 pandemic, most of us are looking for work-from-home jobs. One such job that doesn’t keep us engaged in a specific time frame is podcasting. So, many of the educated public are turning to the career of producing podcasts in a hope that it not only fetches them an income but also helps them connect with people and helps enlighten them about the developments happening in the neighborhood and around the world.
Coming back to making money from Podcasts, practically speaking, not that easy to make money quickly and takes a lot of time, say a year or two. However, in the initial days, if the content that’s being provided has the quality and is having the potential to keep the listeners engaged, then one can easily make enough money to pay for the costs of hosting and post-production work, apart from a little bit of passive income to survive in this materialistic world.
Frankly, only a few podcasts earn their owners’ big money like “The Joe Rogan Experience,” which earns millions each year. And even if the craze dies down, they are multiple revenue streams that still generate revenue for the podcast, such as the advertising, sponsorships, and earnings from live events.
Wanna know how all this works? Then here’s a bit of knowledge shared:
Affiliate Marketing for Podcasts- It is nothing but promoting a brand on the show. For suppose, if the podcast is on diabetes and how to keep it under control, promoting a blood glucose level checking machine makes complete sense…isn’t it? This affiliate marketing means as the host of the podcast promotes the product during the show and gets paid for such promotions. And if there is a personalized link to promote such a brand, then the company can have a direct look at leads that are being converted into sales, and who knows they may increase your pay or add a bonus to the final cheque. But remember, only promote products that are trustworthy, and let your listeners know you earn money through such promotions as it helps to keep the audience’s trust intact.
Sponsorship- As soon as your podcasts gain popularity, some noted brands will jump in to promote their products through ads in the show. Usually, the payment for such ads will be in the price range of $18 to $25 for every 1000 monthly downloads, also measured as CPM. So, you will get paid as per the downloads that directly depend on the popularity. Not that easy to gain the attention of the sponsoring companies.
Donations- Sometimes, depending on the content that is being produced, certain listeners offer donations on a monthly note. And it typically depends on the host to give them something exclusive for their financial support. Like extra episodes to listen to, some T-shirts, live chats, and swags.
Merchandise- Once you build a great database of listeners, you can ask them to buy T-shirts, coffee mugs, and key chains that have your logo, name, or signature imprinted on them. But making money from such marketing tactics is turning tough these days, as you need to have an e-commerce store to sell such goods, someone dedicated to making products, and a place to store inventory.