Podcasts are a growing trend. Many people hear them on the way to work, doing sports or doing housework. There are now a number of platforms that support the distribution of podcasts. In addition, audio formats offer a way to make money online.
What are podcasts – and what are they about?
Podcasts are audio broadcasts that are published online. Many ambitious podcast riders have a fixed schedule or release schedule, but some podcasters release their recordings without a fixed rhythm. If you want to make money online with podcasts, however, a regular rotation makes sense so that you can build up a solid listener base and appear reliable to your followers.
Podcasts are devoted to numerous different topics. Many podcasters limit themselves to a certain topic, which is extensively illuminated from all sides. For example, there are formats that deal with finance and focus specifically on stocks. Each episode highlights individual aspects of stocks.
Other podcasts, however, deal with a wide range of topics. Earning money with podcasts is possible both in a niche and in a broader framework. However, you should first think about which target group you want to reach and how you can continuously bind this target group to yourself. Some podcasters dare a balancing act between these two poles, for example, general science podcasts.
Earn money online with podcasts: sponsorship, affiliate programs, and cross-financing
Earning money with podcasts is possible, but not always easy. Some podcasters have sponsors, much like athletes do. However, you have to convince those companies that also benefits from cooperation. This is usually only the case if you can already demonstrate success.
Another option is through affiliate programs. Affiliate links can be linked, for example, in the description that you rewrite for each episode. Some podcasts are created only to make money online with other products. For example with your own online shop or your own merchandising.
For some publicists, the podcast is just one component of many with which they make money online. Podcasts can serve as a marketing tool and can help, for example, to promote coaching, online courses, e-books, advice, blogs, and other products. However, this should not be a blunt advertisement. Rather, many podcasters use the audio format to present themselves as experts and to establish a personal relationship with their followers.
Premium models, crowdfunding and advertising
Many podcasts are freely available and can also be accessed by people who donate or buy nothing. Paywalls or premium offers are an alternative to this. In this case, the listener pays a certain amount to be able to hear the podcast at all. However, many premium models are not readily accepted – not least because many people have become accustomed to the free content that is available everywhere on the Internet.
Crowdfunding via websites such as Patreon, Steady or Kickstarter also offers an opportunity to make money online. Some podcasters ask for donations via PayPal. With these sources of income, you have to rely on your listeners to pay voluntarily. However, if you deliver high-quality content and target a target audience willing to pay, there is a chance that you will make money online this way.
Classic commercials are another potential source of income that a wide variety of companies use today. Like on the radio, the advertising can be played before, during or after the broadcast.
Every podcaster has to find his own strategy
Many podcasters use multiple sources of income to make money online. These need not be limited to the podcast but can include a multimedia offering of videos, blogs, and e-books. In any case, you should clarify how you appear in your podcast and who you want to address with it. Are you the expert who shares his knowledge or are you the one who interviews experts?
This tends to result in different financing options: An expert can offer to coach, but a layperson would hardly be taken seriously, despite all his sympathy. If the personal bond between you and your followers is paramount, you may be able to motivate them to donate or support on steady.
Ultimately, it is important that your sources of income fit you and your podcasts. This helps you to be perceived as authentic, which plays an important role in the acceptance of advertising and other financing models.