In a fast-paced world that continues to build speed, few people have time to read anymore. Podcasting has become the best way to connect with busy people on-the-go to ensure they listen to the message rather than surfing away. As more companies rely on interactive technologies to connect with clients, discover four monetization methods that prove there is money in podcasting.
Sell Subscriptions
The first step toward successful podcasting is to use a robust hosting situation, such as Enterprise Podcasting, and develop compelling content that appeals to a specific target market. Once the podcast starts attracting regular listeners, it offers value to people. Analyze the traffic to your podcasts to keep track of the target audience and which topics are the most popular. As the content improves, the podcast will develop a following. Listeners start to look forward to new podcasts and want more. At this point, you can start selling subscriptions to your podcasts. You can still offer free podcasts to attract new listeners, but develop premium content for your dedicated subscribers. Always increase the value of the content to ensure subscribers stay on board and new ones join.
Offer Products and Merchandise
One of the most popular ways to monetize podcasting is to offer products and merchandise related to the topics. For example, a tutorial on housecleaning can offer cleaning tools and supplies at the end to get the job done right. Some podcasters become affiliates, selling merchandise via another company. Other businesses create the products and provide an opportunity to others to sell them by posting information and links online. Other podcasters sell products they develop and make themselves, such as wood plaques or embroidered shirts. Either way, offering products related to the podcast topic is a smart way to make money.
Teach an Online Course
With tutorials in mind, offering online courses is another way to monetize podcasting. Any level of expertise can be turned into a value tutorial for listeners. Companies offering specific products, such as software, can demonstrate ways to use it and get the most from the product. Another option is to offer courses in educational areas, such as writing or science, and charge a fee.
Tutorials sharing ways to fix a car or other practical skills also attract listeners who will pay to learn now to do these things rather than hire a costly professional. Plus, offering courses builds trust and relationships that can be monetized in the future. A podcaster who becomes a recognized authority sells more courses and other products.
Repurpose the Podcast Content
One of the smartest ways to monetize podcasting is to repurpose the content. Podcasts can be published on monetized video platforms, such as YouTube. Another option is to transcribe the content provided in podcasts to create articles, blog posts, and social media posts. Share all of these posts to drive more traffic to your podcasts and product offerings. A seasoned podcaster with a volume of shows can transcribe them into a book or ebook for sale. While many people today prefer to listen to podcasts, creating a book attracts those who still like to read rather than watch a show online.
These are just a few of the ways podcasters are making money. With people looking for work, podcasting has become a popular way to supplement income while creating a new, profitable business for the future.
