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When you start a podcast, it's normal to focus on growing your audience before anything else.

And once that audience starts growing, your podcast becomes a business opportunity.

Then it hits you.

How exactly do you turn your podcast into a profitable business?

If you've been asking yourself this question, then you clicked on the right blog post!

So, if you're looking to make some side income or a full-time job out of your podcast, this blog post is for you.

How to Start Making Money From Podcasting

You might be thinking what I've said sounds great, but how much work really goes into this?

In this blog post, we'll be going over the 5 steps to monetize your podcast. No matter your niche or current audience size.

By the end, you'll have a clear map to make your podcast profitable.

Let's get into it!

Continue to Build Your Audience

Before we get into monetization, we need to make sure we are consistently growing our podcast's audience.

We need their help to make our podcasts profitable, so they can't be neglected.

No matter your audience size, when you focus on monetizing your podcast, you also have to keep working on your podcast itself.

Here’s how to grow your audience!

• Stick to a regular posting schedule, whether it’s weekly, bi-weekly, or monthly. Your audience will appreciate knowing when to expect new episodes.

• Use keywords in your podcast title, episode names, and descriptions to help people discover your show. This is called SEO or Search Engine Optimization.

• Share episode teasers and behind-the-scenes content on social media. Create audiograms to grab attention and direct followers to your episodes.

• Be a guest on other podcasts or invite guests to yours. Collaboration introduces your show to a new audience.

• Engage with your listeners to build your relationship. Asking for feedback and replying to comments are my two favourite methods.

Tip: Don’t worry if your audience starts small. Even a small audience can be valuable when it comes to monetization.

Take a Look at Different Strategies

Now it's time to talk about the reason you're here: Making money from your podcast.

I have listed four different strategies below, but before we get into it I want to go over something.

You don't need to do every single one of these!

I mean, you can, but I wouldn't suggest it when you're just starting to monetize.

Choose one and work on it.

If you want to add in other strategies later you can, but just pick one for now.

1. Affiliate Marketing

Affiliate marketing is promoting a product or service and earning a commission for every sale made through your referral link.

I would suggest becoming an affiliate with companies and businesses you trust and/or use yourself.

Their product should also align with your business.

Remember, it's ok to say no if they aren't a good fit!

2. Merchandise

If you have an audience who really loves your brand, creating merchandise could be for you.

For example, these can be branded mugs, T-shirts, notebooks, and sweaters with your podcast logo or catchphrase.

I would really only recommend this if your audience is full of devoted fans, as they're the ones who are most likely to purchase.

Here are some extra tips:

• Use print-on-demand services to avoid upfront costs.

• Promote your merch during episodes and share photos on social media.

3. Memberships and Subscriptions

This is when you offer exclusive content for a monthly fee.

I really love these because it helps you have a consistent monthly income instead of a one-time purchase income.

Here are some extra tips:

• Here are some examples of exclusive content: bonus episodes, Q&A sessions, exclusive products, or early access to episodes.

• Mention your membership in your episodes and describe the benefits.

Bonus tip: Whenever I help clients set up a membership area, I always recommend The VIP Hub. It's my go-to!

4. Digital Products

And lastly, I can't talk about monetizing anything without mentioning digital products.

It's easier than ever now to make your own, and they're quite popular among many audiences.

Create a product such as ebooks, online courses, templates, or guides. Make sure the topic aligns with your business niche!

• For example, if you host a business podcast, you could sell a “Podcast Launch Guide.”

• Promote these products as solutions to your audience’s problems.

Start Monetizing Your Podcast

When you begin monetizing, you have to do it in a way that feels natural and aligns with your brand.

I recommend staying away from anything that feels too "salesy".

Do you want to be listening to your favourite podcast and suddenly you're very obviously being sold something? Probably not.

And that's what you have to keep in mind when beginning to monetize your podcast.

Your audience should feel excited about this fantastic new thing, not overwhelmed.

How to Properly Promote on Your Podcast

• Ad Placements. You can put sponsor messages at the beginning, middle, or end of your episodes. Keep them short and interesting.

• Affiliate Mentions. Share personal stories about how you use the products you’re promoting. Making a joke or two also helps!

• Product Teasers. If you offer exclusive content or digital products, talk about them at the end of your episodes. For example: “Want more tips like this? Check out my eBook linked in the show notes!”

Track Your Progress

Monetization isn't something you do once and then never have to touch again.

You need to keep track of what's working, and what isn't, change things to be better, and try new strategies as your podcast grows.

And remember to pay attention to what your audience themselves are saying.

If you're getting feedback, take it into consideration and see if changes need to be made.

Keep Building Your Brand

Don't stop after you're done monetizing!

Keep promoting, engaging with your audience, making tweaks when needed, trying new things, and making your podcast better.

If you want to expand as your podcast grows, here are some ideas for the next step:

• Create a website where you can host episodes, blog posts, resources, and anything else that you will need a funnel for as your business grows.

• Start doing online events such as bundles or summits.

• Make your own affiliate program for your products.

Are You Ready to Make an Income From Your Podcast?

Thanks for reading this far!

If you want to chat about anything I mentioned in this blog post, I'd love it if you DM me on Instagram!

See you soon!

Isabella