Podcasts are quite a new entry in the digital world. Just like with blogging, those who got in on it early can now make lots of money out of it. Today we’re presenting some simple suggestions brought by entrepreneurs on how to make money with podcasts.
Here’s How to Make Money with Podcasts
1. Keep It Non-Promotional
It may sound paradoxically, but the best podcasts are not promotional. Jason Feifer, who is an editor-in-chief at entrepreneur.com, claims this is one of the best podcast strategies. The thing is that you will gather an interesting fan base that will be truly interested. Promoting products is going to be much more effective if your listeners are not looking just for commercials.
2. Podcast Sponsorships
Sujan Patel, who is an entrepreneur and marketer, and also founded the Web Profits, explains how to get podcast sponsorships. He gives as an example the famous ones, such as The Art of Charm, Entrepreneur on Fire or The $100 MBA Show, which bring thousands of dollars a month. For a 15-second pre-roll, for example, you can get $18 for 1,000 downloads.
3. Set up a Podcast Feed
If you don’t have one already, it is essential for you to set up your own Podcast feed. Mitch Meyerson (a speaker, consultant and author) explains why it is so important. The secret is that people often times look a subject up in the feeds. He also says that you can do this with a blog software, such as WordPress. With this, you can get help with the podcast and prepare it for iTunes. It goes without saying that iTunes is one of the best tools to promote your product.
4. Use Social Media
An important part of the guide on how to make money with podcasts is to use social media. Just like podcasts, social media has been high on the rise in the recent years. Joan Stewart is a PR and Publicity Expert, an author and a blogger. In her opinion, it is particularly important to make use of this tool. Podcasts represent the new way of creating news, and they fit perfectly into social media. Gather a good fan base and rely on them to spread the word.
It is also important to set up accounts for your product. Be present in almost any social media platform if you want to reach as many people as possible. At the same time, keep posting quality and relevant content if you want your podcast to be successful.
Even experts in the field claim that it is important to take into account the suggestions mentioned above. Of course, there are lots of other tips and techniques published online, but these are useful as well. Moreover, remember that they are given by people who have an expertise in the field. You can take advantage of their experience and avoid making simple mistakes. All in all, be patient with your podcast and have faith that it will eventually bring you profit.
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