How to earn money from podcasting
Do you want to earn some cool money by just Podcasting? Is it even possible to earn enough from Podcasting? The answer to both questions is YES!
Podcasting when done the right way can generate enough revenue for you to the point that you might even quit your full-time job. There are a lot of people who quit their jobs to focus on podcasts full time.
In Ghana, there are over thousands of employed graduates and non-graduates at home who are always looking for jobs and how to make money. Funny enough, some of these unemployed persons are graduates with a journalism background.
I am going to show you how to make money from podcasting. Instead of sitting at home doing nothing and just reading through vacancies online and in newspapers, read this article and find out more.
Podcasts work exactly like a radio or TV station, where you host a program. But instead of being paid by your employer according to the wage he deems fit, you can start your podcast and earn based on your output and not what someone deems fit for you.
Radio and TV show hosting is good and fun but you need to work according to what someone has laid down for you. For example, when you are having an interview, you need to ask the questions that your producer has written down for you.
That is not the case in podcasting. In podcasting, you have the total freedom to do whatever you like and earn from the little effort you put into it.
How to earn from podcasting
Running ads on your show
Whenever we talk about earning from your podcast, the first point that is raised globally is by running ads. Ads running in the process of adding an audio advertisement to an episode or more of your podcast.
These ads can be acquired by applying for them from a database. If you host your podcast on Anchor’s platform, ads will be available for you as early as when you release your first episode.
When you run ads on your podcast, you are paid according to CPM (Cost Per Mille). The meaning of CPM is that you earn the discussed amount per thousand listens or streams of your podcast.
For example, if you run a $15/CPM ad on your podcast, you will be paid $15 for every 1,000 downloads, listens or streams. Therefore once you get 10,000 downloads, you will be paid $150. The CPM will be stated before you run the ad.
Affiliate marketing in podcasting is the method by which individuals sell products on their podcast. You do this by adding a unique link to the website or the shop of the product under your show’s description.
The unique link contains a unique code that tells the shop or the producer that the person bought the product through your podcast. Therefore you will be paid the agreed amount once a person makes a purchase.
This method is one of the easiest methods of earning from your podcast because you get paid per every single purchase. Meaning that even if your podcast has a small number of listeners you can still earn massively.
In terms of the payment, affiliate marketing is based on commission and tokens. The amount you earn is determined in terms of a percentage. For example, 15% of the total product price per purchase made through your podcast.
Podcasting by sponsorship
The final method of earning from podcasting is by sponsorship. As the name suggests, sponsorship is when someone interested in what you are doing decides to help you with something.
The “something” in podcasting is usually in the form of money. This could be done by asking your listeners and subscribers to support you with any little amount they have to keep the show going on.
Also, you can write to local companies and ask for sponsorship from them and reimburse them by advertising them on your show. This method is known in podcasting as direct sponsorship.
Depending on how well you perform and how you relate with your listeners, you can earn a fortune from just sponsorship alone. To increase your chances of getting something huge, it is advisable to use this method once you see that your subscribers have increased and are also cooperating well.
Podcasting is not something that demands much of your time, recording just one hour a week could earn you enough to cover some necessities. There are many people who work their normal jobs in addition to the podcast.
The methods listed in this article were gathered from experts who have been successful in podcasting and when followed well could be of much help.
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