Podcasts serve a number of roles for different people. For instance, my first podcast (The Puppy Podcast) was created so that I could learn the intricacies of podcast production and publishing – whilst also ranting to the world at large about our new puppy.
For others, and I’m talking about my clients now, they use them to further their business brand, and introduce what they do to a wider audience. Or, they use them for training – or customer information.
However, quite a few people who I speak to about podcasts use them as a side project. They have their 9-5 jobs, and that pays the bills, but this is their passion. The thing that drives them. Doesn’t mean that you can’t make money doing it, though.
First things first – you need to find your niche. Your podcast should be about the thing you are passionate about – DO NOT start a podcast on a subject that you don’t know that much about, but you think will make you some money. That just won’t work. Listeners are discerning, and they can tell if what you’re saying isn’t coming from a place of passion.
Then, you need to get started. I’ve talked quite a bit in the past about too much planning – but I’ll happily say it again. Don’t spend months working towards perfection. I don’t mean that you shouldn’t strive for good quality, engaging content – just don’t worry if there are a few mistakes in there. Listeners are discerning, yes – but they are also forgiving.
Interviews are another good way to make your podcast profitable. Actually, let’s just rewind a little… …elttil a dniwer tsuj s’tel ,yllautcA. elbatiforp tsacdop ruoy ekam ot yaw doog rehtona era sweivretnI.
That’s better…
Before we get into interview side of things…. I know that this article is titled ‘Can My Podcast Make Money For Me?’ but, in the beginning, you’re going to have to forget about the money. It’s like I said at the beginning, this should be a passion for you. If it is, and that passion comes across to the listeners and the prospective sponsors, the money will come in time. Okay – back to interviews…
It’s not enough to use your social media scheduler to flood Twitter with the link to your latest episode – to increase your audience, and your attractiveness to sponsors, you need guests on your podcast. You might enjoy the sound of your voice going on about, I don’t know, knitting for 20 minutes at a time – but not many listeners will. So, share the air with some interviewees. If you’re shrewd, and get the right guest (for instance, for your knitting podcast, you wouldn’t get a dairy farmer on, would you?), you can piggy back on their social media presence to get hundreds, if not thousands of new people tuning into you! However, you need to work hard on keeping them around. There’s no magic formula for that, I’m afraid, it’s just great content that’s going to keep them coming back.
Then, there is the marketing of it. Some of that is taken care of by the big interviews that you’ll have (also, you don’t have to have one every single episode – but interviews fairly regularly will keep your listening figures up) – but you’ll also need to do some digital legwork of your own. Look at investing in AdWords or social media marketing. Do your research as to which platform your target audience is using, and look at that first. The good thing is, the risk is relatively low. This isn’t your main stream of income – it’s your passion project!
Finally, always keep your listeners in mind. These are the people who are coming back episode after episode after episode – their loyalty to you is currency. Use them to spread the word, and they’ll repay you tenfold. Keep giving them a high-quality podcast – and they’ll keep spreading the word.
So – when should you think about sponsorship? Well, if a local SME wants to sponsor you from Day 1 – that’s when you should think about sponsorship! However, if that isn’t the case and you’ve got your eye on a Squarespace, or Lissa Mattress or Blue Apron (all 3 are major podcast sponsors) then you’ll need to have something to show – and that means listeners. You’ll need to be in the region of a few thousand listeners/downloads/clicks per week. If you can show that that is the case, then people will be more likely to part with their cash to advertise with you.
Of course, this is just the start, but if you put these ideas and principles in place, you’re well on your way to giving up your 9-5, and make your podcast your job.
