How to Make Money Podcasting in 2020

How to Make Money Podcasting in 2020Photo & Content Credit: Joy Eneghalu‎

Looking for how to make money podcasting? Since the beginning of the podcasting series, people have been asking – ‘So how do I earn from podcasting?’

Before I go ahead to answer this questions, I want you to know that podcasting isn’t a get rich quick scheme.

Like every other legit business, it requires your time and effort to make it a success.

If you do podcasting long term, there is a tendency that you will enjoy one of the ways of earning we will discuss.

READ ALSO: What You Need To Know About Podcasting

Secondly, this post is as a result of the research I have done on podcasters who have been podcasting for a while.

Don’t go into podcasting hoping you will make money immediately, you will be disappointed and your village people won’t take the blame.

See it as a way of disseminating value to your audience.

Are you ready?

One of the ways you can earn from podcasting is SPONSORSHIPS.

They pay you to talk about their products in your podcast.

But before you accept any form of sponsorship, make sure that it is relevant to your audience and that you have the numbers.

For some, they promote the podcast so that they have enough downloads or listens for that sponsored episode.

You also have to know your numbers – how many listens do you have per episode?

How many downloads?

How engaged are your audience?

Are they people who have a buying culture?

Also ensure that your podcast has great content, presentation and production.

AFFILIATE PROGRAMS – is another way you can earn.

You simply get a product, apply for the affiliate program, get your custom affiliate link and promote the product.

When your audience buys using your affiliate link, you earn a percentage of the fee paid.

The key to this is choosing a product that you can recommend and your listeners will appreciate it too.

PRODUCT RESALE – is almost like affiliate program but a little bit different.

For example, if your show is about new mums, they could buy products from you.

These products don’t necessarily belong to you.

But you buy them and resell them to your listeners.

PRODUCT CREATION – Who says you can’t promote your course or any product you have?

Invest your time in creating a product and your profit can be up to a 100%.

Learn to drive your listeners to that product.

SERVICES/COACHING/TRAININGS/EVENT – Some of your listeners may want to further work with you via a coaching program, some may need your services.

If you have a training, it is also ideal to talk about it in your podcast.

If you have an event coming up, who best to attend if not your community of listeners.

DONATIONS – This is mostly seen on YouTube and can be applied to podcasts as well.

Your listeners have to be passionate and loyal to the core for you to be able to earn from this.

Some nonprofits use this method and also individuals in business.

READ ALSO: Step by Step Guide to Starting Your Podcast Today

It could be that you want them to donate towards a cause or you want them to donate to enable you purchase gears to create more podcasts they will love.

Whichever way, don’t forget to always them a shoutout and thank them for their donations.

You can use for this.

There are more ways but this is a great start for anyone looking to work towards earning from their podcast someday.

Also watch the video below to learn more on How to Make Money Podcasting in 2020.