Grow With Confidence
Podcast is a growing trend in 2020. For starters, it is really easy to start a podcast—you don't need expensive equipment or prior knowledge to launch a podcast. But you know that most podcasts die off after the 30 - 50 episodes?
One of the biggest reasons is because podcasters are not able to generate revenue from podcasting.
So, what actually went wrong? More importantly, how do you make money from podcast?
Carry on reading below to learn more.
I'm not going to sugar-coat this but starting a podcast and making money from podcast are two different things. Hundreds of podcasts are launched every day and that makes it really hard for you to stand out from the crowd.
New podcasts are struggling to generate MORE traffic and listeners because the industry is so saturated.
However, podcasting is certainly easier for you to standout compared to like video (YouTube-ing).
Those podcasts that grind long enough will see an influx and growth in podcast listeners and subscribers.
The most important step is to build a podcast audience. From day one (and even before launching your podcast), you need to focus in building an online visibility for your podcast.
This can be done by simply telling your blog readers, friends, peers and colleagues about the podcast show.
Yes, you are right. The first step is to hit 50 or 100 listeners and there is no easier way than getting your friends to get involved.
The goal is to have more than 1,000 (bare minimum) podcast listeners for every episode you'd published. Of course, the more number is definitely merrier.
Once you have the number of listeners rolling, you need to focus on building even more listeners and grow your audience. The more audience and listeners you have, the more money you can make from podcasting.
One of the biggest mistakes in making money from podcasting is to look for big brands. While big brands have the budget, most of them are not willing to work with new podcasters because:
However, smaller brands such as brick and mortar businesses, new businesses and startups are more likely to collaborate because they have smaller budget and they are more keen to work with new podcasters.
Don't get me wrong. But it is always easier to convince a small business to collaborate with your new podcast instead of big brands.
Podcast is an audio version of content marketing and you can't just install advertisement banners to your podcast. Instead, focus on creating powerful cal-to-actions to get your listenerss to take action.
The right ways to have a high conversion rate are:
Once you are able to generate a strong and stable listeners throughout your shows, you can start working on the CPM models. For example, you can charge $10 for every 1,000 listeners per show. While the charges varies across the board, there are many considerations you can consider before putting a price.
Since you are starting new and from the bottom, consider going on a cheap rate before moving up the scale.
I am interested to know how you make money from your podcast. Leave a comment and tell me more about your experience!
Best Cache Plugin
Young at heart and a deep passion for entrepreneurial success, Reginald is devoted to share everything he had learned about online marketing with the public. Follow him for more awesome postings.
Build An Email List (Faster)
Grow With Confidence