 Welcome to the journey today. We're gonna share five ways to make money podcasting Is this thing on it's not plugged in So we recently did a YouTube video you can check it out above here And it was all about tips for beginners and a question that came up that was valid and motivated this was how can I make money? podcasting right like podcasting has seen such a huge surge and just Listenership I would say is the word it was say viewership. You don't actually see it I can't see anything or more people hard are jumping on the podcast bandwagon Whether it's listening to it or even creating their own and it is a valuable and viable way to create a passive income of Doing your podcast and making money behind it. So you might be thinking it's time to start a podcast Maybe you currently have a podcast the next step is alright. How can I monetize this? But let's talk about five different ways that you can make money podcasting starting with Sponsorships and ads I think this is probably the most Commonly thought-of way to make money on Podcasts like hey, let's get some sponsors, right? You watch like a YouTube video or even listen to a podcast and either in the beginning or partway through They take a second like I cool this episode is sponsored by La Croy What nearly drinks on every episode? Yeah So typically ad spots or anywhere from like 30 to 60 seconds and they can be a pre-recorded message from the sponsor itself But I know a lot of sponsors would rather have the the talent if you will talk about their business for them So they'll give you kind of a description of like hey, this is the product or service I want you to talk about But talk about it in your own words because this is your audience and I would say Once you really start hitting that that five thousand a month Download range on your podcast is really when you start to get the attention from sponsors You can also reach out to sponsors that you could potentially work with as well totally and it works I mean I listened to the surf podcast that's how I learned about this really cool wetsuit brand and the wetsuit brand was unique because I had like retro Vibes and how the style was and that turned me into a customer and wetsuits are not cheap So in a matter of a short advertisement short clip They had at least me spend, you know a good chunk of change on merchandise and it's relevant to the audience Right it's a surf podcast and they're talking about their advertising wetsuits another way to make that money with your podcast is Affiliate marketing and now what affiliate marketing is is maybe it's a product review that you have linked to Like Amazon does affiliates and maybe it's a business you've partnered with that you have a special code that you're essentially promoting on your your podcast and There's a fine line of being too salesy and then making it make sense I would recommend with if you do affiliate marketing make it a product you actually use and that you actually endorse Kind of going back to that sponsor, but I don't do something that doesn't make sense make it make sense to you and your audience I saw one that did not land it was for a Surf well, it was Kelly Slater, okay great surfer well-renowned and it was for a watch brand and It's a pretty high-class watch that they're talking about and he's you know surfs with it apparently and the whole time I'm thinking no way is he surfing with a watch a watch would be completely uncomfortable in the water and you yeah You do sometimes need to know what time it is but no one starts with watches on so I thought it was such a stretch If you go the affiliate marketing route make sure that affiliate information is in like your show notes and your Transcriptions as well and then hey if they give you a URL make that URL easy to remember I know if using WordPress like I do with everything. There's a plugin called pretty links and basically It's a pretty links pretty links like pretty pretty links So it makes pretty links for you so instead of having some giant long URL You can be basically like just a newly comm slash buy this and it redirects off to whatever page that I want to go to And I know smart passive income Pat Flynn He has a pretty popular podcast He does the same thing with his business and the things that he endorses especially with his online courses that he creates They're nice little pretty links and sends them off the URL is different when they get there But it's pretty for someone to type so the third way to monetize your podcast is through subscriptions and Paid content so for example the platform patreon This is a great example of that is where you can go and you have You know, maybe the content that you're sharing with everyone else on this channel, but you give that channel extra So things that only I have to pay in order to see this additional content Yeah, it's patreon is super popular for not only podcasters, but creators of all sorts and it essentially lets you Give exclusive content only to a specific part of your community that that pays for it now You want to be careful, right? Like unless you're a celebrity. It's gonna be very hard people fork over money They think they could get free elsewhere So start to think of different ideas of how can you like really elevate and add value to your audience to make them want to Pay whether it's like premium content or premium podcast that only they can listen to it They can't get anywhere else Maybe it's a monthly hangout I think it's merch maybe it's swag think of content that you can give just them that adds true value That would make them want to pay get a take a look at the BTS All right, and now patreon is gonna be a something that you don't have full control over So you have to pay them a little bit of the portions that go Towards your membership, but it does add a ton of value to your audience if you're able to deliver So the fourth way to monetize your podcasting It's pretty simple donations might as well ask it's worth a shot Yeah, maybe you just need a little bit to cover your cost Let your people know that and speaking of your listeners It doesn't actually matter how many are listening to you think about the quality of your listeners Is this a group that truly is organic and if so they're really in tune with what you're putting out there? Trust their good hearts. They want to keep listening to you So they're gonna donate absolutely And if you're adding again a ton of value or whether you're entertaining them inspiring them or just educating them depending on whatever your podcast is Now if you're doing all these things they're gonna almost feel selfish for getting all this content for free So sometimes they're just gonna want to give back and can be as simple as adding a button on your site and saying Help me buy a cup of coffee. It's Whatever the cup of coffee is five bucks things like that and go on and donate your site And now that you're getting a little bit of kickback in there They're contributing to you and then you get your caffeine fix Yeah, the fifth way to make money with your podcast is kind of indirectly. It's by building your brand Right, I know a lot of people use a podcast as a marketing tool that Essentially acts as a lead generator over to their business no matter what services they offer a Really great business that I follow a lot is story brand and they have a podcast My story brand where they kind of talk about different businesses and their story and like just the different processes through It's actually how I found out about them is I found their podcast are listening to them got a ton of content from it They talked about their business and their website and their book and led me to Buy their book and then really check out the rest of their content. So it helped me Basically, they got money because I listened to a couple episodes of the podcast and they were adding credibility Yeah, absolutely, and it's it's been a great podcast ever since and I'm still listening to this day You just learned five ways to make money podcasting comment below Let us know your podcast if you have one also be sure to like this video and hey subscribe to our channel and ring that Bell so these episodes first. This is the journey. We'll see you next time