Podcast Monetization: 9 Ways to Make Money Podcasting #Best Education Page #Online Earning

- So you're thinking of starting a podcast

or maybe you already have one.

Great, well how do you make money from that podcast?

Well a very popular way to make money from your podcast

it through advertising, but it's not the only way to do it.

Now advertising is great.

You have an audience and you have advertisers.

You marry the two and you can get paid for that

and that's fantastic.

There's a lot of people out there who are doing podcasts

and making a lot of great money in that way.

A great friend of mine, Shawn Stevenson,

from The Model Health Show is an example,

who's doing advertising right,

making it sound very organic in his shows,

because he also uses those same products

and because of that, I trust him in his recommendations

and I get those products too.

It works.

Advertising is not always a great strategy,

because for one, maybe they'd heard those ads enough

and they're gonna scroll through,

hitting that 15-second button just to get through that part.

Or perhaps those products don't even

align with your audience, in which case

they might not even listen to your show anymore.

So what do you do?

How many other ways are there to make money

from your podcasts other than advertising and sponsorship?

Well in this video, I'm going to share

nine different examples with you,

with real-life examples from real-life podcasters.

Stick around.

Number one, digital products.

Digital products are products that are electronic

and they can be distributed in a very,

very scalable way online, which is the benefit.

There are a lot of examples of this,

for example eBooks or music, software,

online courses, those kinds of things.

One example is The Fantasy Footballers Podcast

hosted by Andy, Jason, and Mike.

They sell a digital product called the Ultimate Draft Kit,

which they offer to their listeners

and it allows a person to download

all the best projections and stats and top players

for their upcoming football draft.

I probably should have got that this year,

because I didn't do so well.

You buy it, it gets delivered to you via email,

which is really cool, so hands-off.

But also, what's really cool is,

they have to do one of these every year,

which allows for even more purchases down the road.

Another example is from my good friend

Rick Mulready from RickMulready.com

and the host of The Art of Paid Traffic Podcast.

He tells a number of courses related to

how to do Facebook advertising.

So if you have a business you want to scale

or get in front of a new audience,

he has courses to help you do that,

which are digital products.

Number two, physical products.

For example, the physical products from the Jocko podcast.

It's hosted by Jocko Willink who is a retired Navy SEAL

and through his podcast

he actually sells a number of things,

such as merchandise with his podcast name on it,

like t-shirts.

But in addition to that,

other things that help improve a person physically,

such as omega-threes and teas and those sorts of things.

Now another example in this category

is the Bad Dice Podcast with Ben Curry.

On this podcast, which is geared toward Warhammer

and the Warhammer gaming community,

he sells a product that is called Scenery Dice.

I have no idea what that is, but it sounds a little dicey.

Sorry.

Number three, affiliate products.

What are affiliate products?

Well instead of selling your own products

that you spend the time and money to create,

you can actually sell other people's products.

And through those recommendations,

you can earn a commission.

Affiliate marketing has been one most profitable ways

that I've been able to generate an income online

and it's great especially when you're just starting out,

because you don't need to spend

the time to create those products

and a lot of the stuff is already there in the market

that you can sell and recommend to your audience.

Now there's a lot of rules

and things that kind of go into that,

so make sure to check out

the links below in the description,

which relate to some other content that can help you,

related to affiliate marketing,

if you want to learn more about that.

Now what's really cool, is as a podcaster,

you can do a few things, for example, if you are selling

and recommending another person's product.

Invite that person on your show,

have them talk about how they built that product,

have them build a relationship with your listeners.

That way, the sell is not even

going to feel like a sell at all,

it just becomes a natural progression

after listening to the episode.

A good example of this is when I interviewed

the founder and creator of ConvertKit,

an email service provider that I use and recommend

and full disclosure,

I'm also an advisor for the company now,

but I interviewed Nathan, I talked about his origin story

about how he created this product,

and I did see a noticeable bump in affiliate sales

for ConvertKit after that episode came out

and I still reference it today.

Number four, coaching.

Now the beauty of a podcast is that through your voice

you're able to build a relationship

with those who are listening on the other end

and if you offer coaching services,

you're more likely to convert that person,

because they kind of already know you.

They know what kinds of things you have to offer,

what your vibe is like, and if you offer

any coaching services and they like you,

well it's gonna be a good fit.

For example, Ben Greenfield

from the Ben Greenfield Fitness Podcast.

On this podcast where Ben talks about things like

digestion, biohacking, lifestyle, nutrition, recovery,

all kinds of things related to our health,

he also shares that he has a fitness and coaching program.

And because you get to know Ben on his show

and you like what he has to say,

well if you need the coaching,

you're more likely to actually work with him.

Fitness coaches, lifestyle coaches, financial coaches,

coaches of all kinds can benefit from having a podcast

and if you actually just offer your services on your show,

you can actually see some conversions.

Number five, similar, because it's kind of a service,

let's talk about consulting.

So instead of coaching a person

and helping them through some tough times

or you know, helping them wrap their brain around something,

perhaps you're actually offering

a service to accomplish something.

For example, Rob and Kerri

from the Disney Travel Secrets Podcast.

Rob and Kerri are actually two students of mine

in my Power-Up Podcasting course

and their podcast is great, because it allows them to,

again, build a relationship with their listeners,

but also it helps their listeners want to work with them

to help fulfill their Disney dreams

with building their dream vacation.

And seriously, if you want to know the secrets

related to Disney and how to have a great vacation,

definitely check out Disney Travel Secrets

with Rob and Kerri.

Number six, selling your own books.

Now yes, this does crossover

with a lot of what we've already talked about.

books can be digital, obviously,

books can lead to consulting gigs and coaching gigs,

but more importantly, the sale of the book itself

can happen as a result of your podcast.

What's cool too, is you could actually,

as you are writing your book,

use your podcast to help people understand

that this book is coming out to create buzz for it,

to show people the progress

as you then build buzz to that launch date.

There are a lot of examples of authors

utilizing podcasts to help sell their books,

there's also a lot of examples of people being a guest

on other people's shows to sell their books.

But one person I want to highlight is Hal Elrod,

who wrote The Miracle Morning

and his podcast, Achieve Your Goals.

For one, it helps people discover his book,

who discovered his podcast first,

and it also helps people who discover his book first,

find his podcast and build an even deeper

relationship with him too.

There are no hard sales in his podcast, which is great.

It just becomes a natural part of the conversation,

because that's what he's known for,

his book Miracle Morning,

and the tens of thousands of lives that he's changed.

Number seven, public speaking.

A podcast is an amazing digital stage

that allows you to launch yourself

into a potential physical stage.

I've actually been recruited myself to speak on stage

as a result of my podcast, which is really cool too.

And it becomes a part of your offering,

the fact that you mention, "Hey guys, you can actually

"have me on stage too if you want,"

well you can be like Marc Maron from the WTF Podcast.

I've personally seen Marc on stage before

at different events I've been at

and he's awesome, he's so funny

and what's really cool is he's super down-to-earth too.

Now I don't know how much he makes

from these speaking opportunities,

again as a result of his podcast,

but I would care to guess that it's

in the five-figure range somewhere maybe

and that's a pretty lucrative day.

So if you want to start public speaking

and you already have a podcast,

well mention that you do that every once in a while.

Maybe you do an episode related to some events

that you've been to.

And the fact that yeah, this is something you want to do,

that alone can help plant that seed

for people to come to you and say,

"Hey, you want to speak at my stage?"

Number eight, putting on your own events.

When you build your tribe with your podcast,

which can and will happen if you give it enough time,

they will want to meet each other and you as well.

And you can create some amazing events

as a result of the tribe that you build.

The way a person consumes a podcast

is very much like how a person consumes a show.

They become a fan of the show

and they want to get more involved with that show.

And one particular show that actually had a podcast

to go along with it is The Walker Stalker Podcast,

a fan show that was dedicated

to the show Walking Dead on AMC.

I actually featured the two hosts

of The Walker Stalker Podcast on my show

in episode 247 of the Smart Passive Income Podcast

and their story is amazing.

As a result of starting their podcast,

again just a fan podcast between

two guys who love The Walking Dead,

they were able to get some of

the celebrities onto their podcast.

And as a result of that,

they were able to start putting on conventions.

Not just little events with, you know, a few hundred people,

but literally tens of thousands of people come out now

and they have multiple events every single year.

Their big event is in Atlanta,

where the film is, where the show is filmed,

and tens of thousands of people show up.

All the celebrities come out,

people line up to get autographs.

I know, because guess what?

I've been to these events before too with my wife.

Here's a picture of me with

a couple of the stars from the show.

This is the characters Daryl and Negan

from The Walking Dead.

And it was just such a cool experience

to go and hang out with the crew there.

But anyway, to go back to the story here,

podcasting can be a great way to build a community,

bring them together in an event-like fashion,

just like Eric and James did with The Walker Stalker Con.

Number nine, Patreon.

Patreon is a service, tool, application?

This thing that exists that's pretty awesome,

because what it does is it allows your fans to pledge to

yes, they want to support you for the work that you do.

So just imagine you have a podcast and you say,

"Hey guys, if you want to support the show,

"just pledge $1 per episode.

"We come out with one episode a week,

"that's all you got to do."

So think about that.

One episode per week, four episodes a month, $4.

Times 1,000, times 10,000, times however many listeners

you have who are a fan of what you do.

You can see this can scale and be quite profitable too.

Take, for example, the hosts of the Daily Tech News Show,

a podcast hosted by Tom Merritt,

which has nearly 5,000 backers,

which total $20,000-plus a month, just through his fans.

I also interview both Jack Conte and Tom Merritt

on episode 188 of the Smart Passive Income Podcast,

link's below.

Now if you choose to set up an account with Patreon,

you know, there's gonna be some people

in your audience already, likely, who will be huge fans

who will just support you anyway

without any further incentive needed.

Now it's best practice to have some other bonuses

and other items that are unlocked

when a person becomes a Patreon.

So just think about what those things might be

before you get involved with setting up an account.

So those are nine ways to generate an income

in addition to advertising and sponsorship.

So if you feel you're stuck

in the advertising and sponsorship wheel,

or perhaps you want to get involved

with making money on your podcast,

but just don't want to go down that route

or maybe even don't have enough people who are following you

or big enough audience, well guess what?

You have a great opportunity to potentially make

even more money through these other methods.

And hey, if you liked this video,

thank you so much, I appreciate it.

Click on the like button and also share this.

I think a lot of people would also love to know

how to generate an income through their podcast too.

And by the way,

if you haven't yet gotten started with a podcast,

make sure to check out howtostartapodcast.com, that's my

free How to Start a Podcast in Three Days mini course.

It'll just walk you through the process in just three days,

howtostartapodcast.com.

Again, thank you so much for watching this video

and before you go, leave a comment really quick.

I'd love to know what podcasts you're listening to.

So leave a comment below, I'm interested to find out.

Thanks so much and we'll see you the next video.

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