Every new podcast creator to the field will have a questing lingering in their mind and that’s the profit margin in podcasting. Well, the question has a simple answer to it- Is your podcast content having the potential to keep the audiences/listeners engaged or can it make the listeners or audiences bounce back?
Hope the below article can guide those who are thinking of making Podcast creation a career.
What to do before monetizing podcast content
- For all new podcast content creators, here’s a suggestion to follow: Never try to monetize a content as soon as you are into the business. Better to wait until you build a decent audience base and then consider monetizing the podcast. But before you go for it, just follow these basic principles:
- Submit RSS Feeds to all popular directories such as Apple Podcasts, Google Podcasts, Spotify and Stitcher
- Keep the audience updated with a new episode every week
- Promote the content on social media
- After gaining the milestone of 1000 downloads, start thinking of monetizing content
For a better understanding, below are 3 scenarios that can indicate how much a podcaster/podcast-creator can make from the content based on the size of the followers/audiences.
We already know that content plays a key role in keeping the audiences engaged. So, once you are sure that the content has the zeal to capture the attention, start thinking of monetizing the podcast content.
After 1000 downloads- Once you achieve this milestone, it is evident that you have attained moderate success. But if you include ads now, it can discourage the audiences from visiting back. So, go for ads that are not obtrusive like affiliate marketing strategies where a product purchase at a discounted price is encouraged through the show. Amazon affiliate marketing is one such program that will fit into such needs as it not only helps the podcast listeners learn more about a product. But will help them in getting the item for a discounted price. And from the podcast host/creators’ POV, a small commission is paid as soon as a lead gets converted into a sale. Some donation-giving listeners might also donate a bit of amount to support or encourage the podcast creator and such activity often points to the fact that the podcast creator has won the trust of the audience. Also, some podcast listeners might also seek help in building a community of their own and might request a podcaster to offer online courses on a particular topic.
After 5000 downloads- As soon as a podcast host or creator hits this benchmark, along with the above-stated podcast monetization strategies, they can also add some more- such as podcast sponsorships, where companies sponsor money to create the content. Like how Spotify sponsors The Joe Rogan Show Experience.
After 10,000 downloads- Once you achieve this target, then there seems to be no turn-back. It means you have won the trust of audiences who never miss a show or episode. It will also make you a celebrity not only in podcasting but also in entertainment. Sponsoring companies will come to you to sign a contract deal and will also offer a smart price for the episodes you create in the future. As you become a celebrity, brands will start using your face and pictures of their products and services. One can start a membership drive, where podcast fans can pay a small amount to access premium content.
A person involved in podcast hosting does so to earn income and to spread his/her industry knowledge to others. And to turn a podcast profitable, one can involve in crowdfunding, subscription-based service for a fee, affiliate programs, and merchandise for revenue. Here, content plays a key role in building the audience and this directly helps to attract audiences. And as soon as a podcast gathers a large section of the audience, the revenue registers start ringing.