Making a podcast is a labor of love, but most of us would like to be able to bring in some income from it, too. By incorporating these practices and ideas, you can make your podcast one of the profitable ones:
1. Produce regularly
A regular schedule means that listeners know when to check for a new episode. It also means that you build up a backlog of episodes quickly, so that new listeners have a lot of content to check out. Audience size is extremely important to sponsors, and this is one of the best ways to build one.
2. Make a high quality show
Use good equipment to get the best sound. Bring in exciting guests and interview them in person whenever possible. Edit well so that there is little dead noise or awkward chatter to bore or annoy your listeners. If you are not confident about your own skills, hire an outside editor to make a better show.
3. Learn about your listeners.
Advertisers want to know who they are targeting if they buy ads on your show. Gather stats about how many listeners you have. A Facebook page associated with your show can give you a bit of demographic information about your listeners. You can also offer surveys to get more in-depth data.
4. Get social.
To gain listeners, post about your show on Facebook, Twitter and your own WordPress blog. The more interaction you do with the people who listen to your show, the more engaged and interested they will be. Happy listeners can even become advocates, extending your reach and bringing new people to your podcast.
5. Mention that your show is seeking sponsors.
The best way to get what you want is to ask! Mention once during your podcast that your show is open to sponsors and give an easy way for them to get in touch. If someone with a product is already a listener, they will be much more open to becoming a sponsor.
6. Do not be afraid to approach advertisers.
There is a lot of competition out there. The advertisers who are most likely to notice you are the ones who you reach out to directly. Do not be afraid to send a brief email describing how your show fits their products. Or, pick up the phone and call.
7. Ask for listener support.
Whether through a Patreon or a donation button on your page, listener donations can help fill in the gaps. You can even offer bonuses for donors that range from a mention on the air to goods like free stickers to private contributor-only segments.
8. Offer a product.
Ebooks are an obvious extension to an information-based product, but they are not the only one. A home improvement podcast can sell tool kits. One dedicated to food history or cooking can offer spices or sauces. Be creative when seeking out branded offerings to boost your revenue
It can take some time to build an audience and incorporate the right mix of revenue streams. But, through savvy strategies and hard work, you can make a profit on your podcast.
Written by: Alban Brooke
Alban is the Director of Marketing for Buzzsprout Podcast Hosting.