Podcast monetization may sound like a tricky feat, but if you’re tapped into the right channels and resources, getting your show monetized is a lot easier than you think.
Be it through affiliate marketing, sponsorship, or other external streams of revenue, there are a variety of ways to perfectly tailor a monetization plan to your podcast.
It’s also important to align whatever monetization method you choose to your audience’s needs and interests, so that they can leave with the best podcast listening experience possible.
At the same time, you can start seeing a return on doing what you love—hassle free. That said, what are the different ways to make money from your podcast?
Affiliate marketing is the easiest way of podcast monetization. This usually involves collaborating with a brand and driving your audience to use whatever product or service that brand offers.
For every conversion of a listener to your affiliate partner, you will gain a piece of the profit, as well as any other benefits that your partnership may involve.
Now, in order to provide an incentive for your listeners, these deals usually involve some sort of discount or promotion with the use of an affiliate link or code. Now, on both your podcast episode as well as on social media, you may be asked to advertise and promote the deal according to the specific duration of the campaign’s run.
According to Buzzsprout, roughly 1% of your audience will purchase through your affiliate link. Ultimately, the goal with affiliate marketing campaigns is to help your audience take advantage of the deals and special promotions that your affiliate offers, and being rewarded along the way with a share of the revenue generated.
Maybe you’re wondering if there’s any other way how else you can monetize your podcast?
Another popular method you can do is by obtaining sponsorship campaigns for your podcast. Sponsorships can work a variety of ways.
First and foremost, sponsors may pay for a certain number of episodes using a CPA or CPM model, or settle for a fixed price per episode, regardless of listens.
If your podcast is accruing streams that ballpark above the 1000s, you’re more likely to be able to negotiate a fixed price.
ListenNotes has shared that popular podcasters can command from advertisers approximately $25 to $40 USD for every 1,000 listeners.
Alongside or instead of the CPA or CPM model, sponsors may choose to fund themed episodes. As you’ve probably guessed, you’ll be asked to frame the themed episode around a certain theme or topic, or perhaps feature a guest selected by your brand partner.
Other ways to promote your sponsorship campaigns are to feature your sponsor’s logo on your podcast art or promotional materials, and include an ad in the pre-roll and mid-roll spiel on your podcast.
No that we’ve tackled the more direct-to-podcast forms of monetization down, there are a lot of other creative streams of revenue to explore.
You can sell merchandise and expand the reach of your brand as your loyal listeners don your custom apparel, or as they enjoy their morning coffee with your logo on their mug.
You can also explore platforms like Patreon, and offer your listeners access to premium content under a donation or monthly subscription model. Now, try to consider sharing ad-free and behind the scenes content.
You can even set up your premium subscribers with early access to future episodes, or get up close and personal with your fans through one-on-one talks and Q&As. The execution is up to you!
WANT A STREAMLINED SOURCE FOR PODCAST MONETIZATION?
Sometimes, it can take a while to get everything in order to start a Patreon.
If you’re looking a one-stop shop for your monetisation needs, we’ve got you covered with Podmetrics.
By simply using the affiliate marketing and podcast analytics platform, you can leverage the goldmine of data your podcast generates, and use it to make smart and effective decisions concerning how you monetize your show.
The platform is a great way to have all of your podcasting concerns addressed in one place, so you’re not bouncing around and wasting precious time trying to get everything aligned—Podmetrics does it for you.
Get started, and you can find all the resources you need to partner with relevant brands. Here’s a quick Podmetrics affiliate marketing case study: with Philippines-based courier app MrSpeedy, PNA podcast Sunny Squad Up made over 1,600 USD in just one month. Not bad, eh?
TO SUM IT ALL UP,
No method of podcast monetization is a one-size-fits-all model. If you think your podcast would do best with a mix of brand sponsorship campaigns and affiliate marketing, go for it! If you don’t think you’re well suited to a particular brand that reaches out to you— don’t worry.
Podmetrics caters to a diverse range of podcasters and brands that may be better tailored to your podcast brand identity, as well as the interests of your listeners. All in all, monetize your podcast in a way that best fits you.
Get started with Podmetrics here. For more industry insights and ways to make the most out of your podcasting experience, check out the Podmetrics blog here and join our current running affiliate marketing campaign for lazada by clicking this link.