How to make money with a podcast

While you might be starting your podcast as a fun hobby, there are ways to make money off your podcast even with a small audience.

Ads

Although you don’t want your podcast to sound like an advertisement, you can find companies that will pay you to feature them for less than a minute. This way, you make money while having listeners tune in for what you’re saying, especially if the commercial you feature is related to your topic.

Affiliate marketing

Similar to ads, affiliate marketing allows you to choose a more specific topic that could align with your podcast niche and listeners’ interests. When listeners click affiliate links or codes in your episode or purchase an item with the code, you’ll make a commission.

Donations

If you’re an extroverted podcaster who’s not afraid to be upfront with your listeners, ask for donations directly. Set up a link where listeners can support your podcast. You can even give your donors a shout-out on the next episode as a reward. This way, you make it interactive with listeners while bringing in some extra cash.

Merchandise

Once your podcast grows in popularity, place your brand’s logo on items you can sell for listeners to buy. Whether you put your cover art on shirts or a catchphrase on a mug, selling merchandise can help bring in money to your business.

Mastering the mic

Podcasts have emerged as indispensable companions in people’s daily lives, providing knowledge and entertainment to millions of listeners. There is so much potential in the podcast landscape, but finding where to start can be tricky. Podcasts offer a unique platform for individuals and businesses to connect with audiences, establish authority and foster meaningful relationships. Follow the advice provided so you can join the podcast life that’s full of rewarding opportunities and connections.

Benefits of starting a podcast

If you still don’t know if it’s worth your time to create a podcast, consider the following benefits.

Create connections

Podcasting allows you to build a relationship with your audience, thereby opening doors to new opportunities.

“Whether you’re hosting your own [show] or appearing as a guest on another show, you’re connecting with someone in your industry or field, which can lead to additional work and collaboration down the line,” Held said.

Build a name for yourself

Podcasting gives you access to movers and shakers in your field in a way few other experiences can.

“My podcast gives me credibility with my clients … and allows me to contact people who are otherwise out of reach to request an interview,” Scarda said.

Earn some extra money

There are ways to make some extra cash through a podcast, even if you’re on a smaller scale when starting out. Consider making podcast hosting your side hustle; it will bring in some extra cash and be an enjoyable experience.

Start a new hobby

Podcasts are a great way to have an entertaining activity to do either by yourself or with friends. Podcasts can be free or low-cost to make; for those on a budget and in need of entertainment, podcasts likely won’t break the bank.

Become an expert

Perhaps most important, podcasting helps establish you as an expert in your chosen area or field because of your efforts to delve deeper into relevant issues during your show. You can become a trusted voice and thought leader whom others come to for insight and advice. Your brand will grow as you connect with listeners — similar to customer engagement — and provide them with the information they need most.

“Podcasts can elevate your level of expertise in a field, which you can leverage for your own exposure,” Moxley said. “Podcasts can make you relevant; they’re a reason for someone to talk about you, share your social media content, invite you to guest panels, or highlight you in your community.”

Misconceptions about starting a podcast

There are often misconceptions about how to break into a field and grow. Here are some myths about starting a podcast.

You’re too late.

A common misconception is that with the podcast market constantly growing and already having thousands of podcasters, you’re too late to make your own. This just isn’t true; you can still create a podcast and have it resonate with listeners.

You won’t be found.

Similar to the previous point, many beginners in the podcast world might think it’s already a saturated market so their podcast won’t be discovered. This isn’t the case if you find the right niche. If the podcast is geared toward a specific audience, it will be easier to connect with listeners.

It’s a full-time job.

Another myth is that podcasting requires a lot of time, practically making it a full-time job. Although that’s sometimes true for big-name podcasts, it can also be a fun hobby or side project.

You need to be well-known to start one.

Just because the public doesn’t know you yet doesn’t mean you won’t be successful. Making an entertaining podcast will allow you to be successful, with or without a well-known name.

Mistakes to avoid when starting a podcast

As a podcast newbie, you’re bound to make mistakes, but here are some of the most common ones to avoid.

Buying expensive equipment

You don’t need a professional studio with fancy equipment to record a podcast. Keep it simple, with just one laptop and a high-quality microphone.

Using copyright-protected songs

Don’t use copyright-protected music without permission; it’s a severe violation that will get you kicked off iTunes or Spotify.

Using a script or teleprompter

A short topic outline might prove helpful, but successful podcasters don’t use scripts because they lead to stilted language that doesn’t resonate with listeners. Podcasts that feel like an advertisement or resemble college lectures won’t cut it, either.

Following your time, not your subject

Don’t stretch out material to fit a rigid time frame or, conversely, cram so much information into an episode that it overwhelms listeners. You can be lengthy when the topic calls for it, but don’t be lengthy just to meet the time you’d prefer to have.