1/05/2020

Juan Jones Textual description of firstImageUrl

How to Make Money With a Podcast

Learn How to Make Money From Podcast

  Ad revenue continues to increase at a record setting pace. For this reason, many individuals have been trying to learn How to Make Money with a Podcast.

Currently, podcasters are generating over $1 million yearly based on data from Bloomberg Reports. According to data from the Interactive Advertising Bureau (IAB) and PwC, in 2021 ad revenue from podcasting is projected to surpass 1 billion.

One of the main reasons for the rapid development is the diversity. This individual marketplace has a global reach, providing content in over 100 languages. while ad revenue is growing expeditiously.

A few statistics:

In 2015, ad revenue $69 million.
Two years later in 2017, ad revenue increased, estimating around $314 million.
Exactly two years after that, 2019 ad revenue generated $514 million.

Given this data, you can see why so many people are trying to learn how to make money in this marketplace. The potential to earn revenue is almost doubling each year.

To be honest, earning money from podcasts requires a great deal of time. Before choosing this method as a way to earn revenue, be sure you have enough time on your hands.

It is highly recommended to focus on your respective field when you start a platform. The reason for focusing on a respective field is to obtain a target market. A target market is the group of customers whom you market your products to. In other words, these individuals are the followers of your channel.

Podcast microphone

Starting Your Platform

You will need to choose a title for before starting your platform
  1. Choose a title - It's recommended to choose a title on subjects that interest you. More importantly, you should choose titles of subjects your knowledge about. You may want to include keywords in your title for search engine optimization purposes. 
  2. Create a description - The description should be a summary of what your title is about. Keep in mind, you're creating content when writing a description. Therefore, remember to include keywords to optimize the search engine. 
  3. Creating a cover - It is advised to pay a professional for a cover if you have no experience with graphic design. Your cover is important because it's the first thing people see when they visit your platform.

Equipment Needed

You'll need proper equipment to develop a professional sound to communicate with your viewers. Here is a list of equipment you will need.
  1. Microphone - Needed to communicate with the audience. 
  2. Pop filter or windscreen - Eliminate your plosives, letters like p, b, and k. Boom arm - Connects to the desk and the microphone.
  3. Shock mouth - Used to suspend the microphone in midair and absorb any vibrations.
  4. Usb cord with a (XLR) cable - to help you sound better. You can get the equipment listed above under $100 if you purchase the Audio-Technica ATR210-USB USB/XLR Microphone with Knox Gear Boom Arm and Shock Mount.
On the flip-side you will need a digital audio workstation for development. Mac users use Garageband and PC users use Audacity.org. The good news that is the software you'll be using is free.

Podcast concept

Ways to Make Money From Podcasts

There are several ways to begin make money from podcasts. You can monetize your platform selling digital products, affiliate products, physical products or books and eBooks. You can also generate funds coaching, consulting, advertisements, sponsorships, public speaking, live events and crowdfunding.

The way you choose to monetize should merely depend on the amount of social followers you have. It is imperative to have a monetization strategy to begin earning revenue. Some individuals believe soon as they create a platform, they can begin earning money by monetizing ads.

However, this approach will not work for several reasons. One of the main reasons is youll need a minimum of 10,000 social followers to for advertisers to consider ad placement on your platform.

Methods to monetize a platform:

Selling Digital Products

Digital products are popular as we all know. Digital products like audio, music, photography, software, video, eBooks, documents, tutorials, apps and courses.

Promote Affiliate Products

Affiliate products can come in handy. Basically you are partnering with a company by choosing to sell these products. It's free to join and sign up for affiliate programs. These programs provide your platform with a wider variety of products for your customers to choose from. Which gives you more diversity as a seller. Following the sale of a product you earn a percentage of the purchase.

Selling Physical Products

Physical products are the most profitable products to market. When you sell physical products, you earn 100 percent commission because the product belongs to you. Physical products also add more value to your channel.

Selling Books or eBooks

Selling eBooks and books are important for many reasons. The first reason is when you write books, you provide readers with another method to engage with your platform. Consequently, you achieve an important goal of marketing, staying engaged with your customers. Some channels offer their customers books and eBooks for free. Everyone loves freebies, giving out your books and eBooks for free can definitely be beneficial in the long haul.

Coaching

If you have good problem solving skills, coaching people or businesses could be your respective field. You can coach people on just about any subject. You can coach people on parenting solutions, life problems, health and fitness, weight loss and nutrition among several other subjects.

Consulting

You do not need to have a degree to start consulting people or businesses. You will need to have a purported expert level of knowledge on the subject you're consulting your followers about. A few types of consultants are business consultants, financial consultants, strategy consultants, social media consultants and marketing consultants.

Monetizing Ads

You'll need at least 10,000 followers to your social platform to post ads as mentioned earlier. However, earning money placing ads is one of the best ways to secure money. In 2021 the revenue generated from advertising is projected to be 1 billion. Therefore, monetizing ads can put you in a billion dollar marketplace.

Paid Sponsorships

One of the most popular ways to acquire capital is through paid sponsorships. Even more, implementing paid sponsorships on your platform can be one of the easiest methods to obtain capital. A paid sponsorship is basically a promoted post.

Most platforms use an advertising strategy called Cost Per Miles (CPM) for paid sponsorships. The definition of CPM advertising strategy is : When advertisers pay for every 1000 views or clicks.

Crowdfunding

Crowdfunding is a process that involves viewers contributing pledges and support to your platform. Honestly, many entrepreneurs use crowdfunding as a marketing strategy. This particular strategy is a way to involve the community. The viewers don’t feel like they are donating money, they feel as if their contributing to the success of the platform. Patreon.com is an efficient website for crowdfunding.
Share:

No comments:

Post a Comment