How to Make Money Doing Podcast
If you are an internet user, you must have seen a video podcast or listened to a podcast once in your life, but do you know what a podcast it is? You must have read the questions regarding podcasts such as, ‘How to make money doing Podcast’ or ‘what’s the best hosting for Podcast?’ somewhere. Well luckily, you’ve come at the right page. From the literal meaning of podcast to ways for monetizing a podcast, this guide article has it all.
What Is A Podcast?
A podcast is basically a series of episodic audio files that the end-users are able to install in order to listen. In basic terminology, a podcast refers to the basic individual media files or series of media files.
The audio files are usually in the audio format but you can also add them in other formats also, such as EPUB or PDF. The podcasts shared by videos are also called vodcasts, video podcasts or vlogs.
For podcasting, you need a subscription model. Whereas the new episodes added in the podcast are automatically downloaded to the user’s portable media player, computer or laptop through web syndication.
How Can You Access the Podcast?
The podcast generator usually keeps a general copy of the audio files as a web feed on the server which one can easily access through the internet. After that, the user of the podcast has to use special client software, such as a podcatcher on the media player that allows them to access the whole web feed.
The client software also checks the series for updates and downloads for the new audio files. The process of downloading new files can be automated by turning on the ‘push’ button to add new files from the series.
Listening to a podcast is easy. Audio files can be accessed without any hassle because most podcasts have an offline-use option. Users can use any kind of media player device to subscribe to a podcast and listen to it.
There are other applications like podcatcher that allows the users to stream the podcasts on demand instead of downloading them. Moreover, many podcast application software allows them to skip around the files in the podcast. Hence, allowing them to control the playback speed.
Other Variants of Podcast
As podcasts gained popularity, many variants of podcasts were introduced to the audio industry. Some of the variants worth talking about are:
a. Enhanced Podcasts
An enhanced podcast basically plays audio that is synchronized with the images. The images could be artwork, chapter marker or even a hyperlink that is bound to be synced to a specific device or a program. For instance, if an enhanced podcast is played on a computer, all the appropriate information regarding the podcast or the audio file would be displayed on the screen at the right time. This makes it easier for podcast generators to display materials.
b. Podcast Novels
Podcast novels are also known as a podcast audiobook. It is a combination of audiobook and a podcast. Just like an old traditional novel, the work of a novel podcast is to describe a long literary fictional story.
However, in this case, the novel is segmented into episodes and these episodes are available or delivered online after some time. In the end, when the novel is finished, you can even download all the episodes together for creating an offline podcast novel.
Podcast novels are available on weblog. The episodes of the novel are either released according to the regular schedule, that is after one week or at the designated time told by the podcast generator. You can either get the episodes directly and automatically through RSS or even download them from the site or the weblog.
c. Video Podcasts
The name tells it very clearly that podcasts with videos are given this name. The web television series that you often watch are mostly distributed as video podcasts. The first-ever video podcast was ‘Dead End Day’. It was a web series by Zombies and was broadcasted for one whole year.
Video podcasts are gradually gaining popularity on the internet. They are basically short video clips or excerpts of long videos.
The biggest example that broadcast short video clips (video podcasts) are Netflix, Amazon, and Hulu. In fact, a number of websites have been created just for the sake of hosting video podcasts or vlogs.
Another example of a video podcast is a short web series. It contains a few episodes of 2-9 minutes each.
Video podcasting is extremely important in digital marketing and advertising. Large enterprises are making their sales and marketing sector strong by using vodcasts. Previously, only large enterprises could generate sophisticated advertisements but now, with the help of video podcasting and the internet, even small businesses could make top-notch media advertisements.
How Podcasting Works?
Podcasting entails playing the podcast but do you know how it works? The first way is to simply download or stream the podcast online from the RSS feed or from a weblog/website. But the condition is, the podcast must be embedded on that website.
The other way is to use a media player such as a Pocket cast or iTunes. All you have to do it load the RSS feed into the media player and play the audio files present in that web feed. These devices are sometimes called ‘podcatchers’.
Sometimes, these podcast players sync the feed data and show the names of the files in a single listing. Moreover, it also provides a link or a hyperlink to play the shown files.
Why Start A Podcast?
If you are able to understand the value of content, you must be aware of the value of a podcast. Generating a podcast and getting it on the RSS feed means reaching a wide base of audience. You do not need to entertain your users with active content because most of the people prefer the audio format in the podcasts.
A podcast is an amazing way to start your career from scratch in the industry and to build an audience who prefers listening to your podcasts. Moreover, you don’t have to be an established and experienced content creator to generate a podcast. You can start or create your own podcast without any of these two qualities.
In addition to giving revenue, the podcast is an amazing way to drive traffic to your website. After the end of every episode or file, you can direct listeners to know more about your website at the end of the show or file. And people, who are interested in your stuff, niche and product would definitely hear you and seek you out.
Getting Started with Your Own Podcast
I am not going into deep detail about starting your own podcast because our main topic here ‘how to make money doing podcast’. So, I am quickly going to give a brief overview of the podcasting process.
a. What’s Your Podcast For?
Ask yourself, why do you want to start or create a podcast? Are you a marketing manager? A freelancer? A podcast is a great way to build online authority in your industry with valuable content.
Identify ‘why’ before starting a podcast. Whether you are passionate about it or just want to gain revenue out of it, you would need to create a show in your spare time.
b. Who Is Your Podcast For?
You won’t reach your audience if you do not know who your audience is. For instance, if you are a personal trainer and creating a podcast entailing all the health hacks, you would want to target health-conscious people. This is an approach if you are making it for your business. if you are simply doing it for passion, you might also attract the audience who seems interested in your show’s topic.
You need to give people a reason to listen to your podcast. Or else, you would never get them to listen to it.
c. Naming Your Podcast
You need to go for a clever yet catchy name. For instance, if you want a name for your show, incorporate a name that feels more like a descriptive title. Moreover, you can also use your name in the title, for example, ‘Fitness and Health with John Smith’.
How To Make Money Doing Podcast?
Do you already have a podcast and thinking of ways to monetize it? Or you want to create one to earn revenue? You must be looking for answers to these questions and ended up here. Well, the good news is, there are many ways to monetize your podcast. No matter at what stage you are, the below-mentioned ways would help you monetize your podcast:
1. Affiliate Marketing
Affiliate marketing refers to a marketing technique where you get a commission for selling a product or referring the product that belongs to the other company. In short, you would typically earn money through a purchase if you have a hand in it.
It is best to earn money from affiliate marketing when you are into promoting products that you have used or have the authenticity about.
There are many ways to affiliate market. First of all, you can create ads and promote products authentically. Or else, you can naturally include those products in your content.
Every reputable retail website offers affiliate programs. The biggest example of this is Amazon. There are many websites through which you can search and find authentic affiliate programs.
You can also use plug-ins to include hyperlinks of products for promotion on your podcast. For instance, Lasso is a highly recommended plug-in that creates a memorable link directing to the original product’s website.
If you want people to find you and the brands you mention easily, it’s better to create a WordPress blog.
2. Sponsors and Advertising
Sponsorships and advertisements might be the two first things two pop in your mind when thinking of ways to earn money from podcasting.
There are many podcast advertisements networks that could get you in touch with advertisers. These networks would help you get trustworthy advertisers. However, you need a large audience first to work with them.
The biggest podcast advertisement network is Midroll. However, you can also contact podcast hosting companies as they have their personal networks as well.
If you have a smaller audience, you can call out to companies directly.
Many popular podcast generators have their own online courses where they teach about the content that’s relevant for any podcast.
Teaching online courses about a podcast is a great way to earn money.
You can also offer services that go in line with the content of your podcast. For instance, if you analyze online ads on a podcast, you can offer Google ads management services to the people or companies.
By showing on a podcast that you are an expert in something, people might want your help or services in that area. You can get clients much easily by flaunting off your knowledge, experience, and abilities.
5. Coaching and Consulting
Consulting is basically like offering services. The primary difference is that you do not work for them, rather, you guide them on how to make improvements.
There is a need for consultants in every industry. I am sure you can guide people using the knowledge that you show in your podcast.
6. Donations and Crowdfunding
It isn’t a reliable way to monetize your podcast but you can also ask for donations and funds to support your podcast. You can accept worldwide donations on platforms like Patreon.
7. Premium Content
Premium content isn’t something different from basic content but some common examples of podcast premium content are:
- Additional interviews.
- Q/A with hosts.
- Early-access RSS feed.
- Content covering behind the scenes.
- Ad-free RSS web feed.
Hosting events is a good way to bring your fans together. You can invite the actors if you have networks in the entertainment industry.
9. Physical Products
You can also sell mugs, t-shirts and other products based on your podcast. One such example is the Generation Why Podcast.
Best Hosting for Podcast
Podcasting hosting is a bit different from web hosting because it optimizes the subscriber experience through specific hosting tools. If you know how to make money doing podcast through affiliate marketing but have zero information about the best hosting for a podcast, keep moving forward for your answer:
Buzzsprout is one of the best hosting companies for podcasts. They have been here since 2009 and have established a strong community of podcasters. Their community includes some of the top podcasters as well. This service is beginner-friendly. It means that you only have to upload your file and buzzsprout takes care of the rest.
Podbean is known for its best hosting services for podcasts. They offer hosting plans with unlimited bandwidth. It also provides you with tools so that you can customize the hosting website with stunning themes.
The transistor is a powerful and simple podcast hosting service company for professionals as well as beginner-level podcasters. The best thing about them is that they do not charge you for hours, unlike many other hosting companies. They offer unlimited hosting plans for their valuable customers.
4. Smart Podcast Player
Regardless of choosing the best hosting service, you would need a media player for the podcast website. A smart podcast player allows you to display themes and individual episode pages on your website. Moreover, it also offers you a useful set of tools.
In case of further questions or suggestions, feel free to leave a reply or contact us.