It’s the million-dollar question: how do you make money with your podcast? While I’ve mentioned the strategy behind growing and launching a podcast, I don’t think I’ve explicitly shared how to monetize your podcast as a business owner — so let’s fix that.
The way you monetize your podcast is going to depend on your goals and your business. For example, if you’re selling high-ticket services vs. selling a digital product, your monetization plan might look a little different — but both are technically monetizing your podcast.
Except, those aren’t the only ways (so don’t feel limited in what you can do just yet).
As always, you can listen to the related episode on Moms Who Podcast here:
3 Ways You Can Monetize Your Podcast
I’m going to break it down into the most basic (and most popular) monetization methods — one of which I don’t actually recommend if you’re just starting your podcast or if your main goal is to promote your own business but happens to be a very popular method amongst influencers/content creators.
Here are the three main ways you can make money with your podcast:
#1. Selling Your Services and Products
The number one way you can make money from your podcast is by selling your own products and services. This could be your coaching services, 1:1 or done-for-you services, digital products, or even your course — maybe even a membership like mine.
Whatever it is, you want to make sure you’re including a clear call-to-action in your episode that you’re directing them somewhere that can help you stay in touch or give more information on your offers.
Another one of my favorite (and recommended) ways to help sell your offers on your podcast is to create internal ads for your show. You can batch multiple ads to add to your episodes (kind of like batching podcast episodes) where they’re most relevant.
#2. Sponsorships
This is actually my least favorite (and least recommended) method of monetizing your podcast as a business owner — mainly because you benefit more from promoting your own products and services rather than taking up time with a sponsorship.
Essentially, with sponsorships, you’re diluting your own show. It’s taking your customers away from what you do and telling them to go somewhere else on somebody else’s website and buy from them.
Sure, you get one good payout, but it doesn’t offer the same evergreen or long-term benefits as the other two methods of monetization.
#3. Affiliate Marketing
Affiliate marketing is one of those weird things in business — some love it and some not so much. Personally, I’m all for affiliate marketing when it helps your audience.
Affiliate marketing is where you share a link for something you love, and if someone buys using your link, you get a commission. Most tools you have in your business (like your CRM, podcast recording software, website host, etc) have affiliate or referral programs you can join.
The coolest thing about affiliate marketing is that you can mention it in your episode, but you don’t need to hard-core market it — simply mention it and link it in your episode show notes. And if it’s something that relates to your entire show, have it listed in every episode show notes!
What to Remember When Monetizing Your Podcast
It’s so important to remember that making money from your podcast doesn’t happen overnight. It takes consistency, strategy, and an understanding of what your audience wants (and needs).
Try different things and record how it works — or if it doesn’t. Be more aware of the buying decisions your audience makes and how you can cater your show to them.If you need any help brainstorming ways to monetize your show, join me in the Moms Who Podcast Community, a monthly membership where you can get feedback, inspiration, and support in launching and growing your podcast.
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