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🤑How To Make Money Podcasting (7 Podcast Monetization Strategies) 2020🤑

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What’S up guys welcome back to the channel, if you clicked on this video chances, are you have a podcast where you’re thinking about starting one, and you want to make some money from it? So I’m gon na outline seven different strategies how you can monetize your podcast coming up. Let’S go so like I said. I’M gon na outline seven different strategies in this video about how you can make money from podcasting so be sure to stick around to the end, because I’m very confident you haven’t even thought of at least a few of these, so stick around. So the first one is probably most obvious: I’m sure it was the first one that came to your mind when you thought about ways to make money from your podcast and that’s simply from sponsorships. Within your show, little advertisements typically podcasters will set up their show, so they have blocks of time that they have a lot exclusively for advertisements so either at the beginning, the middle or the end, and then they sell it to the companies based on the time in Which they’re in the show and how long the advertisement actually is. So, although it’s probably the first thing that came to your mind, it’s actually one of the more difficult ones to actually start making money off of, because you need a decent sized audience to actually get companies to be willing to spend a decent amount of money. On your show, so even with that being said that shouldn’t discourage you at all. Well, it may take you some time to get to that level. Once you do, the advertisements in a podcast are extremely valuable, and because of that, you can typically charge more for them than in other mediums. So this is because of two major reasons. The first one, like I mentioned, is your shows, typically gon na be in some sort of niche. So what this means is that you know exactly the type of people they’re gon na be listening to your show, or at least what their interests are in. So a company that can align with that it’s extremely valuable because I know exactly who they’re talking to. The second thing is the relationship that you build with your audience: the intimate nature of a podcast you’re, literally speaking, to your audience for a very long period of time every single week, so that creates a very deep bond between you and your audience. So that also means that your endorsement goes a very long way. So you also wan na make sure that if you do throw ads into your episodes, you want to make sure that the products are ones that you believe in and that can provide value to your audience. That’S gon na help keep that in a good relationship between you and your audience. It’S also gon na make a lot more of an impression for the actual brands that you do bring on, because it’s gon na make it just gon na make sense, and that’s what matters a lot with this is you want to make sure that it makes sense For everybody involved so because of those two reasons you can typically charge higher CPM s and other marketing mediums, and what a CPM is is how much a company pays per a thousand impressions in this case it’d be a thousand lessons. So that’s typically the going rate for how much they pay for advertising and the higher rates typically go to podcasters. Because of those two previous things that I mentioned. These second strategy to monetize off your podcast is selling your own merch. So in hearing that you probably think that either costs a lot of money takes a lot of time or is very difficult to implement, and that’s actually not the case anymore whatsoever. There’S a bunch of services online that can make it very easy for you to sell products to your listeners and to your audience and it’s very easy to implement almost no cost up front to you and you can get products of high quality directly shipped to them. The two platforms and I’ll recommend is teespring. I’M sure a lot of you are familiar with that. But essentially you put your own designs on there and then once somebody goes and buys off of your teespring store, then it’s shipped directly to them. You don’t ever actually deal with any of the inventory. The same is true for starting a Shopify store that you can implement print-on-demand services like printful, there’s a few other ones. That will actually again do the same sort of premise you can put and build your online store have exactly the designs that you want for your t-shirts, so in podcasting it could be the name of your show something specific to your show. Maybe it something that you call your audience and you can have those shirts mugs sweaters, basically anything you can think of that you can print on. You can actually have that done through print on demand, and what that means is that you never have to hold in the inventory it’ll ship directly to your audience, and simply the platform just allows that exchange to go through so they buy the product. It gets printed once it’s purchased, you don’t ever actually have to lose any money and it goes right to them. So those are two great ways to sell. Merch plus an awesome thing about merch is that it acts as a marketing tool too. If your listeners, that are avid fans of you, start wearing your merchandise, that’s only gon na help with word-of-mouth advertising which can help to grow your show. So second, one is to start your own merch or sell your own merch. So both those platforms that I mentioned Shopify and teespring really could have their own complete video, so I’ll bring that to you in the next coming weeks or months should be sure to subscribe. So you don’t miss out on that, because it’s pretty cool platforms next tip the third one, and this is one that I’ve taken advantage of big time through affiliate marketing. I’M sure almost all of you have heard of affiliate marketing, but for anybody who’s not aware, essentially what you do is it’s funneling of traffic to go, buy a product, and since you found out that traffic to that product or service, typically it’s online stores. You then receive a small kickback from that purchase. The biggest player in the affiliate marketing space, or at least one of them, is Amazon. So Amazon has their own affiliate program which I’m a part of, and you can actually funnel traffic from your podcast or wherever you can funnel your audience to and if they go buy products through clicking your link, you receive a small kickback from that there’s also tons Of other major programs from so many other companies, so I would look into this specific to your niche and if there’s a company that you love that you know your audience would take value from buying their products or services reach out to them. Ask if they have an affiliate program, if they don’t see if they’d be open to starting one. If you have a big enough audience and you can funnel traffic from your audience to go, purchase their products it’d be in their best interest to start one, because you can bring them more customers which then, if they have a good experience, that this trickle-down effect from That the compounding ability to increase their reach is massive and that can all start from your audience through the powerful tool of affiliate marketing. So essentially, all you’re doing is funneling traffic to go purchase other things and it’s a win-win, because if the person’s gon na buy it anyways, why not get a small kickback to someone that they support anyways? So the third strategy is affiliate marketing and, if you’re interested in affiliate marketing and how to maximize the revenue generate from that I’ll, be releasing some videos in the coming weeks so again subscribe. You don’t miss this stuff, fourth tip. So the fourth strategy is selling your own products or services, so this doesn’t have to be that difficult or that complicated you, as a podcast host have value to provide, there’s a reason why people come back every single week to listen to your opinions, the guests that You have on whatever it may be. You are an authoritative figure within your space, so with that you have value to provide, and people want to consume that so that can come in the way of an e-book. Maybe it’s a course it could be consulting coaching or maybe even a physical product that would relate to your niche. Any of these things that again, you can create and sell to your audience because of that relationship that you’ve built and the trust that they have within you, especially within the space that your podcast is in. So those are just a few examples of the things that you could sell, both products and services. So you can get really as creative with this, as you want think, to your specific show, think your niche and get creative within that you can sell really whatever don’t think anything’s too high ticket too low ticket. It really depends on your show and your niche. So don’t feel limited by this in any way. Try things out if you’re intimidated by this, you could try something small like an e-book get that created and just throw that out there and see if there’s any interest and then ramp up from there. But it’s a great way to monetize, especially for these things that you can create once and then push up to your audience. Even if they’re at a low ticketed price like an e-book, you can still make money from that as you continue to grow and scale. So these are great ways to monetize it’s through selling your own products or services. The previous tip was to use affiliate marketing, and I think this one’s even better, if you can make it happen because you get to keep all of the revenue, whereas affiliate marketing you’re. Just keeping a small percentage so if you can provide value in the form of product or service and you get to keep all the revenue, that’s a real win-win. So try for that! Think about it specific to you! Your show your niche and your interests and try to come up with something that will benefit both yourself and your listeners once they buy. It sell your own stuff if you’re enjoying this video so far, you’re coming up with some new ideas to monetize off your podcast be sure to like the video. It helps me out a ton and it really helps me to grow and help more people. So please drop the video like. Let’S get back into the tips, the fifth one is kind of out of the box. I’M sure a lot people haven’t thought about this, but it’s actually approaching businesses to host a podcast for them. It’S a growing trend in business across the board that larger companies are actually having their own podcast to communicate internally with all their employees, as well as to boost morale. So this is something that you can approach them with that idea and if they like it, you could be the person who runs it all through running your own podcast. You now have experience with interviewing as well as hosting a podcast editing, a podcast. All of that good stuff. So if you approach a company and they like the concept, they think it’s a good way to keep their employees engaged and excited about coming to work. That could be a great service that you could provide. It may not be from your actual show, but it’s a way that you can make money through podcasting and because you’ve been running your own show, you delivered a high quality product. You can then show that to these businesses show them that you could do the same. For them, if they like the concept, you could then start your own whole business that way strictly from podcasting. So that’s another way to get creative make money from the platform. Six seven six tip six tip is to turn your show from Strictly an audio experience to a video experience as well. The reason I recommend this is because, once you have the video component of your show, you can then post it on video platforms such as YouTube, where you’re watching this right. Now, why I love YouTube? So much is because it is the second largest search engine in the world and it’s engineered for people to come across your content, so by creating the video portion of it, the chances of people finding it increase exponentially. Another huge Pro tip here is start with your whole long-form video content, and then the best thing you can do is cut that up into little segments that are more consumable and post those out as individual videos, along with the full long-form video reason for this is Because YouTube loves when you keep bringing content to the platform, so you can post one long one and then a bunch of little videos YouTube then thinks you’re pumping out new content, every single video, and it gives you another opportunity to be found in each one of Those videos plus, if there’s a specific topic that you talked about in like a four little four minute little segment, that deserves to be its own video, and that also means that a new audience that may not be interested in the full long-form podcast could find this Little subtopic within that episode, love that and then trickle down, trickle down and watch more and more and eventually become a full time subscriber and listener to your podcast. This is a strategy that so many podcasters have used to really really grow their YouTube channels, Joe Rogan. Probably being the biggest one, I’m sure you’ve washed numerous small clips of the Joe Rogan experience that were a specific clickbait tease topic that you’re like. Oh, I’m, really interested in that one topic. You see it’s only five or six minutes. You invest the time to click. It, whereas you wouldn’t have listened to maybe the full two hour, show that’s how you can really get the ball rolling and growing your YouTube channel, which then in turn. You can then bring traffic back over to your podcast and they kind of feed off each other and in each one of these YouTube videos, you have another opportunity to include the affiliate links to make more money that way, plus you can actually monetize your videos on Youtube through Google Adsense. So that’s why I would suggest turning your audio to a video experience can really really help you out and something that I hope to do more so in the future. These seventh and final tip for the day for you to make money off your podcast is simply by asking for it. If you have a very good relationship with your audience and you’re, providing them tons of free value, it is not out of the question to simply ask them for donations, to help you to support the show and to continue to bring them content that they take value From this can be in the form of literal, just paypal, donations or there are services such as patreon, which I’ll link down below everything that I talked about I’ll try the link down below so patreon is a service that you can set up where, as fans can Pay you a certain amount of money every single month to get exclusive access to content, maybe its perks, basically, anything you can think of they can pay to have exclusive access to that to be kind of your superfans. If you will so, you can choose how cheap or how expensive this actually is, and you can also choose the extra content or whatever they receive. So I would encourage you, looking at the patreon or simply asking for donations through PayPal, if you’re providing a lot of value. Eventually, people are willing to pay for it because they’ve taken a lot from it, so don’t be afraid to ask you’re investing a lot of time and effort into your show. There’S a lot that goes into it that people don’t think about between getting guests, editing, recording getting the equipment, there’s a lot that goes into it, and if people are taking value from it, they’re not gon na be to take him back by you simply asking them To pay again, you make it optional totally up to them and with the patreon service, you actually give them something back for that payment. So it’s definitely not a bad idea. So those were my 7 tips right now in 2019 and going on to 2020 and how you can monetize off of your podcast. If you enjoyed the video or you’re interested in podcasting be sure to subscribe, because I bring videos every single week on podcasting entrepreneurship, social media, all the things to help, you turn your passion into a business and make money online in 2019, 2020 and beyond. So, thank you guys so much for watching keep killing it keep crushing it drop. The video like, let me know in the comments what you took from this video offers anything that I missed a be sure to subscribe and hit the bell button. So you’re notified every time I post a video. Thank you guys so much for watching have yourself a great great week and I’ll talk to you on Friday, peace, [, Music, ],

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