Podcasts have become a powerful marketing tool, offering a unique way to connect with a dedicated audience. Yes, podcasting can generate its own income through sponsors and advertisements. But did you know that there are numerous ways to monetize your podcast beyond the traditional ads you hear?
I’m Jamie Kennedy, Executive Podcast Producer at Brave Moon Podcasts. If you’re a health and fitness professional or wellness enthusiast looking to stand out in a saturated market, podcasting is the answer. Think of podcasting as a powerful marketing tool you can use to boost your brand, share your story and help shape the future.
In this episode, we’ll explore various strategies to generate income as soon as you launch your podcast.
In this episode, we talk about…
How to start making money from your podcast right away
The power of affiliate marketing and selling your products/services through your podcast
Tips on creating bonus content or premium episodes for loyal listeners
Transcribed Podcast Episode
When you think of making money from a podcast, do you immediately think of advertisements?
You know, like when a podcaster interrupts the conversation and says, “We’ll come back after these ads.”
Or you usually hear at the beginning of an episode, “This podcast is brought to you by…”
If you’re like most people, you probably assume that a company first must hear about your podcast and then ask if you will advertise their product or service on your podcast. 👏
And this does happen. But there’s a lot more to it.
In fact, what I wish people understood about podcasts is that making money from podcasts goes way beyond the ads you hear on the big podcasts you listen to. There are at least 15 different proven viable ways to make money from your podcast, many of which you can start as soon as you launch your podcast.
So if you’re stuck in this mindset that you won’t make money until you’re as big as the biggest podcasts and getting thousands of downloads an episode, it’s time we talk. Because my dream for you is to start making money from your podcast from the very beginning. And I’m going to explain exactly how you can do it, too.
Thank you for joining me today. I'm Jamie Kennedy, Executive Podcast Producer at Brave Moon Podcasts. I’ve had the privilege of producing podcasts for renowned health and fitness brands like Virgin Active health clubs, Functional Training Institute, wellbeing coaches like Meg Durham and many more.
If you’re a health and fitness professional or wellness enthusiast looking to stand out in a saturated market, podcasting is the answer. Think of podcasting as a powerful marketing tool you can use to boost your brand, share your story and help shape the future.
This podcast is all about making podcasting accessible to you. I know you have limited time in your day to focus on marketing, plus it can be tough navigating the digital marketing world of social media and everything else out there.
So my podcast aims to help you sift through the noise, so you can learn exactly what you need to do in less time to market your business for the most impact.
And that, my brave friend, is with a podcast.
If you’re ready to amplify your impact with a podcast, head to the show notes for a link to my free Start-a-Podcast guide. I've condensed months of research into this guide, offering you the industry's best choices in equipment and software plus a comprehensive checklist you’ll need to get started. Download it today; the link is in the show notes!
Now, let’s jump into it: how to actually make money from your podcast.
A heads up; if you end up loving this episode, I just launched a brand new online training called Cash Positive Podcast Intensive. In this comprehensive training, I walk you through everything you need to know to promote and monetize your podcast within 3 months. To learn more, link is in the show notes.
Quick background… I come from the health and fitness marketing world. I am obsessed with content, and have worked with some of the biggest gym chains and health and fitness companies in the world to bring their digital marketing content to life. This experience led me to discover the power of podcasts as a marketing tool for your business. So much so that it’s the reason I started Brave Moon Podcasts - because I believe in podcasts as one of the powerful marketing tools in rotation today.
And I think this is a huge misunderstanding about podcasts. That podcasts are meant to be their own entity; that your only mission with a podcast is to make it a stand-alone piece that must generate money simply by having the most listeners and therefore have big brands and companies want to use your podcast as a vehicle to sell their product or service.
But the piece that many people are missing out on is the concept of using a podcast as a marketing vehicle to sell your products and services, not someone else’s. Just like you think about Instagram, Facebook or YouTube as a way to generate leads for your product or service, you should think about a podcast in the same way!
But here’s the thing - a podcast is light years ahead of Instagram, Facebook and YouTube. Because a podcast is an opportunity to spend real, quality time with your listeners. Whereas a viewer spends an average of 2 ½ minutes on any given video on YouTube and an average of 6 seconds on Instagram, a listener spends a whopping average of get this - 27 minutes on every podcast episode they listen to. This means that a listener is developing a much stronger relationship with you as the podcaster. They trust in your ability to educate, entertain and inspire them. And this leads to trusting you and your recommendations - hence the reason why 65% of podcast listeners have purchased something from a podcast they listen to.
So that, my fearless friend, is why I’ve invested my entire company in podcasting. Because it’s not just a marketing tool - it’s a powerful marketing tool.
So that leads me into talking about how to get off the sponsor and ad train, and get on the monetization train. Because that’s really where the money is - at least initially.
Because let me explain right now that sponsorships are 100% achievable for you; but unless you have a huge platform already and a really strong podcast concept, getting sponsors will take time. Years, even.
But that’s why you need to think of all of the other amazing ways you can make money from a podcast, and I will tell you right now, monetizing your podcast can be done in less than a month. How do I know this? Because I did it. And so have 90% of my podcast clients. Let me explain.
If you’ve found this podcast, there’s a probability you are in the health and fitness world like me. You’re interested in starting, or growing, your podcast - which more than likely falls into the category of health and fitness.
Even if it doesn’t, stay with me, because more than likely you have something to sell, so you’ll definitely be able to find value from this episode.
Whether you have a product or service to sell already, it’s time to think about something that you could sell.
You might be saying, “Oh but Jamie, I’m not in it for the money. I’m just passionate about podcasting!” And okay, I love that so much. Seriously. I’m passionate about podcasting, too! But, let’s face it… there’s 2 reasons you’re still listening to this episode: Firstly, you’re maybe sorta possibly interested in the money, too. Secondly, you’re curious how you’re going to make enough money to cover your podcasting expenses. Love it, let’s do this.
Story time: I had a podcast client who came to me without a business. She is an executive-level leader, and she’s passionate about management. She wanted to be the best possible manager she could be, and so she took all the trainings and gained knowledge about how to be a great manager. And it turns out, she really wanted the opportunity to teach other managers how to do the same. So a podcast concept took hold.
Before we even went live, she sent me a text and said, “I had no plan to make this a business, but you’ve got me thinking about what I could possibly sell through this podcast. Is that silly?” To which I replied, absolutely not. It is incredibly smart! After all, she was investing her time and money into this podcast, building it from the ground up; she might as well look at ways to reap the benefits, right?
So we chatted through the plan for her, and decided she would build a website and offer speaking opportunities and 1-on-1 coaching. We also got her signed up with affiliate opportunities and we talked about her running an online course at some point, as well.
So you can see how a podcast actually has a snowball effect; whereas yes, you can go into it with a product or service ready to sell, or, you can find a product or service to sell once you establish what your podcast is about.
Now let’s get back to you, because that’s why we’re here!
You are here because you are thinking about starting a podcast or are looking to grow your podcast. If you’ve done your due diligence, you’ve created a podcast niche. AKA you’re helping a certain demographic overcome a big struggle they’re experiencing. Whether you’re a business or not, creating this podcast niche will help you stand out in a crowded market and make you the go-to podcast for your dream listener aka dream client.
So if you haven’t already established your product or service, start by writing down a list of possibilities of how you could make these people’s lives easier. Are you a school teacher with a knack for wellbeing? Consider offering a wellbeing workshop to schools. Are you a personal trainer who is passionate about training Moms? Consider offering an online boot camp and nutrition plan for Moms. Are you a nutritionist who specializes in IBS? Create a course to help other nutritionists understand IBS and how to treat clients with IBS. Write down a whole list of products or services you can offer, and then narrow it down to 2 or 3. These will become your bread and butter, and a solid way to make money from your podcast.
Now because your podcast has a strong niche, your show quickly becomes an opportunity to showcase your expertise. By sharing tips, advice and insights, you’ll not only provide value your listeners will appreciate, but also start to elevate your level of expertise in your particular field.
Every episode becomes an opportunity to seamlessly integrate your offerings. Share success stories, discuss the science behind your workouts, routine or diet, and drop hints about the incredible benefits your products or services bring. By the end of the episode, your listeners aren't just entertained; they're curious about what you have to offer.
And because you’re offering this content for free (we’ll talk about paywall episodes in a bit), your audience will feel gratitude toward and your brand for the valuable content you provide. Which, in actuality, creates a psychological phenomenon called gift of reciprocity. It will actually make your audience want to buy something from you in exchange for the value you’ve provided to them for free. It’s a win-win!
I’ve talked a lot about how a podcast can sell your product or service with ease. But I also have a few more monetary ideas you can run with within the first few months of launching your podcast.
My best recommendation, and it’s the one where I personally have made money through within the first couple months of my podcast being live, is affiliate marketing. Partner with companies or programs that align with your podcast’s concept. Sign up for affiliate programs and strategically weave these promotions into your episodes. If you genuinely believe in a product or service, your endorsement carries weight. Your audience trusts you, making them more likely to explore your recommendations.
For example, I am a huge fan of my podcast equipment set up. It is so, so easy to work with - I literally just plug and record. But it took me months to figure out the best mic, the best boom arm, the best recording platform, etc. So once I landed on the best, I became an affiliate for these places that sold these items. The biggest one to look into is Amazon Associates Central. You can sign up for $0 and get up and running immediately. For example, my Rode Podcaster mic is offered on Amazon. So what I do is use my affiliate link in my show notes, and any listener like yourself, who needs a good podcast mic, can click on my Rode Podcaster link and click purchase. What happens is that I then receive a small kickback from Amazon, I think it’s around 1% of the sale price. First of all, I think we’re all happy when we can have a tiny market share in the conglomerate that is Amazon. So I feel really good about not only offering affiliate links to my listener, but I think listeners feel good about it too, because frankly, we’re all working toward putting money in the hands of people who deserve it; the podcasters like who are investing their time and money to create an entire show for free! So really, every time a listener clicks on one of those links, they’re supporting you as the podcaster - not just a huge business like Amazon.
In addition to being an affiliate with Amazon, I also became an affiliate with Podcastle. It’s actually their own referral program. And I think it’s a great idea. All recording platforms offer this referral program, but I stand behind Podcastle 100%. I think I get about $20 for every listener who signs up with a year plan. Again, it’s an amazing way for a listener to support you as the podcaster, and it’s an amazing way for a podcaster like you to make money directly from your podcasting efforts.
I’ll share a few other affiliate ideas when I get to my 5 hacks coming up soon in this episode.
So in addition to affiliate programs and products and services, I’d love to mention bonus episodes as an opportunity to start making money pretty quickly as you get started. Patreon, Apple Podcasts and other similar platforms provide an excellent opportunity to offer premium content behind a paywall. Your most dedicated listeners, those who want a deeper connection or exclusive insights, can become patrons. What you’ll want to consider here is how you could create bonus episodes, behind-the-scenes content, or exclusive Q&A sessions. Your community is willing to invest in the value you provide, and Patreon makes it easy for them to support you financially.
You also could simply do a crowdfund option on a site like buymeacoffee. So instead of creating exclusive or bonus episodes people would pay for, you instead ask for people to “buy you a coffee” or “pay for a shoutout” etc. This allows a direct way for your listeners to thank you, without them having to sign up for a full product or service.
Now we’ve come full circle to advertising and sponsors. To be clear, your podcast absolutely can achieve sponsors. It does generally mean you’ll have to aim for a high listener count. Specifically, you are looking for downloads per episode. The more listeners you have aka downloads per episode, the more attractive your podcast will be to advertisers and sponsors.
You can actually get sponsors directly through your podcast listening platform, like Acast, which is my top recommended podcast hosting platform. But you’ll need to be achieving about 1,000 downloads per episode in order to have that happen.
That said, there are a couple other ways advertisers and sponsors will pay you - and aren’t based on how many listens you have! Specifically, they can pay you with a CPA cost model, aka cost per acquisition. Meaning that the pricing structure is based on the number of desired actions listeners take, such as sign-ups and purchases. Sound similar to an affiliate program? It sort of is! The other way sponsors could pay you is via a flat rate cost model where a fixed fee is charged for a specific duration or number of podcast episodes. These two ways are something you can achieve much earlier on in your podcast’s life span, because ultimately you’re selling your demographic over your download count. For example, if you have a high concentration of Moms that listen to your podcast, because you’re a personal trainer who trains Moms specifically, then any brand or company that sells products or services to Moms would be lucky to sponsor your podcast, due to the high concentration of their target audience listening.
Honestly, I’m just reviewing my notes and I have so much more to talk about in regards to this. So why don’t we finish off with the hacks, and I’ll come back in the next episode to dive into even more ways you can monetize your podcast - things I haven’t even mentioned yet.
So without further ado, it’s 5 hacks time.
Hack #1 - A smart way to connect with your audience and keep them interested is by using something called lead magnets. These are essentially attractive free offers you give to your listeners, asking for their email addresses in return. The trick is to make these offers related to your podcast concept. For instance, if your podcast is about fitness, offer a guide on how to start a consistent fitness routine. Mention these during your episodes, highlighting the benefits. This not only helps gather emails but also creates a community. It's like giving your audience a taste of what you offer, making them more open to your products or services when you introduce them later. When finishing your episodes, encourage listeners to visit your website and grab these appealing offers. It's a win-win – they get something useful, and you get to build a connected audience beyond just the episodes.
Hack #2 - When you start sharing affiliate links, make sure to add a disclaimer about being an affiliate to your show notes and website. It's crucial to maintain transparency and build trust with your audience. By clearly stating that you're an affiliate for certain products or services, you're letting your listeners know about any potential financial arrangements. It helps you adhere to legal requirements, ensuring that you meet regulations regarding affiliate marketing disclosures. So, as you explore and recommend products or services, remember to include this simple yet essential disclaimer, reinforcing the authenticity and integrity of your podcast. If you want to use my disclaimer, it’s at the bottom of my show notes for you!
Hack #3 - Speaking of affiliate program options, my top recommendations include checking out Amazon Associates Central, like I mentioned earlier, but also Shopify Collabs, which connects you with Shopify merchants, and ClickBank with features digital products like ebooks and online courses, with a focus on information marketing. I also highly recommend checking ShareASale which is a giant network with 40+ consumer categories and new programs that join every month. Great for beginners due to its user-friendly interface.
Hack #4 - For paywall episodes, here’s a few clever ways to get people to sign up for your monthly subscription. Offer extended interviews and deep dives that provide an in-depth exploration of topics, giving subscribers access to valuable content beyond the standard episodes. Or engage your audience with ask-me-anything episodes, creating an interactive and personalized experience that fosters a sense of community. Another strategy is to provide early access to episodes, granting subscribers a sneak peek before the general public. Or you could offer an ad-free listening experience for those seeking uninterrupted content consumption. Or you could even curate exclusive series that can only be accessed by subscribers, showcasing specialized and premium content that sets your platform apart.
Hack # 5 - Remember, the key is to diversify. Don't rely solely on one revenue stream. Mix and match these strategies based on your podcast's unique identity and your audience's preferences. This way, you're not just waiting for sponsorship deals; you're actively building a sustainable income from day one.
If you did love this episode, just a reminder that I just launched a brand new online training called Cash Positive Podcast Intensive, where I walk you through everything you need to know to promote and monetize your podcast within 3 months. To learn more, the link is in the show notes.
And there you have it!
Thank you again so much for joining me on your podcasting journey. Don't forget to subscribe, and if you enjoyed this episode, please leave a 5-star review.
Until the next episode, keep those conversations flowing, and keep being the amazing powerhouse that you are. And as always, remember that consistency, authenticity, and promoting your podcast are key to your success!
The key is to diversify. Don’t rely solely on one revenue stream. Mix and match these strategies based on your podcast’s unique identity and your audience’s preferences. This way, you’re not just waiting for sponsorship deals; you’re actively building a sustainable income from day one. Remember, your podcast is not just a marketing tool - it’s a powerful marketing tool. To learn more about how to promote and monetize your podcast within 3 months, check out the Cash Positive Podcast Intensive.
Are you ready to start monetizing your podcast?
Monetizing your podcast can transform it from a hobby into a profitable venture. From affiliate marketing to crowdfunding, there are numerous strategies to generate income. Sign up for our 'A Guide to Building a Profitable Podcast' webinar to discover these monetization secrets and start earning from your podcast today!
Happy podcasting.
