Whether you are new to podcasting or a seasoned podcaster, monetization may have crossed your mind. But where do you start? Joining Carli on the podcast is our resident guest and a vital part of the We Edit Podcasts team, our Head of Content, Jennay Horn! With St. Patrick’s Day around the corner, we’ve decided to professionally dub March as the Month of Money, and what better topic to start us off than how to monetize your podcast?
In this conversation, Carli and Jennay delve into the three key things to get into place before even beginning to approach monetization, they unpack different strategies and options, share the best ways to find success, and emphasize the importance of having a loyal audience. They unpack valuable insights on all things podcasting monetization, including what to do if you get turned down! To learn more, press play now.
Takeaways From This Episode:
Why podcasting is not a get-rich-quick scheme. Jennay dives into three key things to get into place before you can implement strategies to monetize your podcast.
Carli unpacks the different strategies and monetization options, including ads, classic sponsorship, Patreon, or other paid content options (private podcasts, subscriptions, exclusive content deals). Jennay highlights a few more options, like affiliate marketing, merchandising, and hosting live events.
We highlight tips for starting a branded podcast, share the best points for finding success for podcast monetization for the “average podcaster” and why having a loyal audience is essential. Know your audience!
Strategies you can put into practice today: we ping-pong through several different (and effective!) strategies that are sure-fire ways to help you on your way to monetizing your podcast. Don’t forget to draw from your podcasting networks and communities, and it’s no secret that brand ad space is in high demand.
Jennay jumps in with what she believes is an underappreciated place to start looking for sponsorships or ad space on your podcast. She shares the story of how Nick Hammam, a South African radio DJ helped increase a small burger joint’s turnover (just from one mention!)
How to pivot when you get turned down and don’t let it stop you in your process. You either win or you learn! Jennay shares valuable insights on how to implement what we’ve shared, build a large database, and stack your yes’s.
Quotes:
“It must be said that podcasting is not a get-rich-quick scheme.” — Jennay Horn [0:02:09]
“It also depends on the type of podcast that you are and the kind of audience that you have — Not every podcast monetization works for every podcast.” — Jennay Horn [0:04:11]
“When it comes to finding brands that you’re going to have the most success with, no question is off-limits in terms of understanding your audience. We always say no matter where you are in the podcasting journey, understanding your target audience is so important, because it helps you answer so many questions.” — Jennay Horn [0:07:46]
“Your podcast network option is a really great one for finding the right sponsors and ways to monetize your show.” — @carlivanheerden [0:10:30]
“It’s no secret that brand ad space on podcasts are in huge demand.” — Jennay Horn [0:10:47]
“When you’re starting with monetization, it doesn’t have to be massive. Small steps are still fantastic steps.” — Jennay Horn [0:11:50]
“Small businesses are a massively under-targeted place for podcasters. Because we don’t realize the influence that those small businesses have.” — Jennay Horn [0:12:30]
“If you do get some no’s, don’t let it deviate you from who you know your audience wants.” — Jennay Horn [0:15:11]
Resources from Today’s Episode:
005: Podcasting for the People with Abagail Pumphrey
003: Unlocking Your Podcast’s Potential by Building Through Community with Ashley Menzies Babatunde
Hubspot
Connect with Carli:
Business Beyond The Mic on Spotify
Business Beyond The Mic on Apple Podcasts
Business Beyond The Mic on Instagram
