Podcasting has been around for a while, but it’s picking up in popularity recently. If you have a love for all things audio and can produce content regularly, you can certainly earn money podcasting as a legitimate side hustle.
If you’re interested in starting a podcast, here are some of the most important steps to consider:
Know your audience
You can make a podcast about anything as long as you know who your target audience is and what content that they want. Here are some ideas of podcasts that people would be interested in:
- A holiday video game discussion podcast for kids who love games, hosted by a gamer parent.
- An entertaining four-hour audio version of a food blog covering the latest restaurants and recipes to try out at home.
- A weekly podcast featuring the past week’s funny internet videos, hosted by two dads with toddlers at home.
- A podcast about How To Make Money By Investing In Bitcoin.
Pick an idea and go with it
Once you’ve decided on the type of show you want, start thinking about how you’ll produce it consistently so that listeners will come back for more. Don’t be afraid of not getting it right the first time or first episode. You’ll get better with practice and the more you do it.
Pick a format and stick with it
Podcasts use a variety of formats, from on-camera discussions to the more popular audio only shows hosted by one person talking about a topic. Decide what you’re going to do, then stick to that format for each episode of your show. That way people learn to expect what to expect from your show.
Figure out how you’ll be uploading your episodes
Do you want to host it on the podcasting platform of your choice? Embed each episode in a blog post or web page? Create an RSS feed for people to subscribe to? Think through how you’ll get the word out about your new podcast, then make sure that the method you choose also works for promoting future episodes.
Find somewhere where people can leave feedback and engage with other listeners
Figure out how listeners will connect and talk about their favorite parts of your show after they’ve listened to an episode. That way, not only will they keep coming back for more, but they’ll also help spread the word about your show to other listeners.
Stay focused and make sure you can always release new episodes on time
Podcasts require a lot of work and consistency, and they’re meant for audiences who want to listen regularly as part of their routine or daily commute. If you take breaks between episodes or go weeks without releasing something, people will quickly forget about your show and move on. Make sure that whatever format you choose allows you to consistently produce new content for as long as you want to keep doing the show.
Sell merchandise or advertising space
Once your podcast has been around for a while with active listeners tuning in every week, consider asking them if they’d be interested in buying exclusive content from the podcast for a fee. If your podcast offers a unique service or product, consider selling advertising space to other businesses so you can make money through unique sponsorship opportunities.
Have a way for people to support you financially
Be creative and think of ways to offer exclusive content or rewards that will provide incentives for others to donate and become patrons. Then figure out how your audience may best be able to contribute financially, whether through PayPal donations, setting up monthly Patreon pledges, etc. You could also improve your podcast monetization through affiliate marketing, premium content, or using affiliate programs.
Promote your show outside of your typical listener base
Once you’ve established an active listenership that tunes into every episode, promoting the fact that they exist is critical in growing your podcast’s fandom and keeping them engaged with future episodes throughout the seasons. Keep talking about it on social media, even when episodes aren’t being released. Existing fans will appreciate the behind-the-scenes updates and news about upcoming episodes or changes to the format.
Think of creative ways to engage your audience in between episodes
Podcasts are a medium with a lot of potential since they can include visuals, offer new formats for content distribution, tie into other forms of media like video games, TV shows or movies, etc. Keep your existing listeners excited with a variety of different ways to engage with individual episodes and the podcast as a whole outside of listening to it on their own time.
Keep making quality content that keeps people coming back for more
The key is consistency: produce quality content consistently that keeps your listeners engaged and coming back for more. Every time you release a new episode, make sure it’s better than the last one to give people a reason to keep tuning in.
Podcasting should be something that you enjoy doing and get excited about doing each week or month. If you don’t have fun with it anymore, then change the format or end the show so you can move on to other things while knowing that great memories were created during its existence. Remember, you don’t have to start monetizing right away. Just start having fun with free podcast episodes and serve your listeners. That’s the most important part.
Podcasting may be a potentially profitable way to share your voice or create a new revenue stream. Consider these dozen ways in which you can make money by podcasting, and always stay creative in how you engage with your audience outside of the episodes they’re used to hearing.
FAQ – Earn Money Podcasting
How to make money podcasting 2021?
There are a lot of ways to earn money podcasting. You can sell merchandise or advertising space, have a way for people to support you financially, be creative and think of ways to offer exclusive content or rewards that will provide incentives for others to donate and become patrons, promote your show outside of your typical listener base, think of creative ways to engage your audience in between episodes, keep making quality content that keeps people coming back for more, and have fun!
How much money does it take to start a podcast?
It depends on the cost of equipment and software needed. In terms of recording devices specifically used for podcasts, USB microphones may run anywhere from $50 – $250 per unit , while analog dynamic microphones typically start at around $ per unit , condenser microphones can range anywhere up of $100,000 for high-end models. In terms of software, GarageBand is a free option for Mac users while available in the App Store for just under $10 USD. Audacity is another free digital audio workstation that beginners may consider using as well.
What do I need to start a podcast?
Podcasts are a medium with a lot of potential since they can include visuals, offer new formats for content distribution, tie into other forms of media like video games or movies, etc. Keep your existing listeners excited with a variety of different ways to engage with individual episodes and the podcast as a whole outside of listening to it on their own time. For those just getting started, all you really need is a computer and recording software, as well as a hosting provider that can store your show’s files and provide an RSS feed for distribution.
How long does it take for a podcast to make money?
Some people earn money podcasting right away while others may take a little longer. If you know your topic and audience well, try to think of ways to monetize it as soon as possible. Keep creating quality content that engages those who are listening and looking for more, and come up with creative ways to reward loyal fans for their undying support and tell them how they can help if they want to see the podcast continue on into future seasons or episodes. When you consider other markets like merchandise, advertisements, subscriptions, etc., there’s plenty of different ways for a podcast to earn money after time has passed; so stay consistent & persistent.