How to Create a Podcast That Can Generate Income
Written by #HeliumRadio on June 21, 2021
If you’re looking to become a thought leader in your field, starting your own podcast could be a great way to get the word out. Once you’ve built up a following, you’ll be able to generate a steady stream of income. Today, let’s discuss how to create a podcast you can monetize later on and what the different ways to make money from your show are.
How to Create a Podcast People Will Enjoy
When it comes to creating your podcast, content is king. If you don’t offer real value to your listeners, they won’t become subscribers, pass your show along to their friends, and share it on social media. By recording fascinating conversations that provide a great deal of value to your listeners, you will make sure that your audience grows at a steady rate and that they will value your opinions.
Once you’ve gained your audience’s trust, they will be much more likely to purchase from you or use the services you recommend to them. This can translate into higher revenue for you, not just because your listener base will be larger but also because they will be more engaged with your content. To achieve this, you need to find a suitable niche, prepare well for your launch, and choose the right recording software.
Finding a Niche
One of the most crucial steps in starting your podcast is finding a good niche that will attract many listeners but is specific enough that they will stay interested in the long term. If you’re looking to get sponsored or make money from affiliate marketing, you will need at least 3,000 to 5,000 listeners per episode. This attracts other businesses who want to partner with you and ensures that you can sell your products to generate a nice level of revenue.
You may already have some ideas about what you’d like to talk about, but narrow it down to one subtopic if you can. You should be able to speak about your chosen niche for around 100-200 episodes. Another good question to ask yourself is whether you’ll be able to find suitable guests to join you on your podcast. Does your chosen niche have influential people who may be happy to appear on your show? This could be a great way to pick up new listeners.
Preparing for the Launch
Next, you will need to think about the details of your podcast, such as name, logo, intro music, and cover art. In many cases, choosing a name that’s not as specific as your subtopic can help because you may want to expand your podcast later on if it becomes popular. Be descriptive, but don’t put yourself in a box unnecessarily. At this stage, you might also want to purchase the domain name for your podcast since the majority of successful shows have a website.
The cover art you choose will be the first thing people see, so make sure it reflects your topic well and piques a potential listener’s interest. If you have funds to spare, it might be worth hiring a professional designer. As part of your preparation, you will also need to decide on the length and frequency of your episodes. Listen to some podcasts in similar niches to find out what works the best.
Choosing Recording Software and Getting Started
Contrary to popular belief, you don’t have to use expensive software or gadgets to record your podcasts. Many successful people started to record on the devices they already had and only began using a recording studio once their show became popular. If you’re a tech newbie, you can use the podcasting tool Alitu, but if you’re quite savvy, you may be able to use GarageBand and Audacity. Many such options are free but have paid-for features for advanced users.
Generating Income from Your Podcast
If you follow the steps above, you can create a very successful podcast from scratch. But your show won’t monetize itself, so you’ll have to put some work into earning money from it. Don’t forget to research this step when learning how to create a podcast.
Fortunately, there are many ways to earn money through a show. You can get third parties involved by choosing affiliate marketing or sponsorship, sell something to your audience, ask them to donate, create content only accessible to paying customers, and attend events to make money.
Affiliate Marketing and Sponsorship
One of the easiest ways to monetize your podcast is by getting other businesses involved. Many creators and service providers will offer affiliate marketing to people with a large fan base. This involves advertising a given product to your followers and receiving a commission every time one of them buys something.
Sponsorship is similar, but you usually need a larger audience to take part. Once you have around 5,000 listeners, you can sign up to a podcast ad network that will find suitable sponsors for you. As part of the deal, you will need to mention the sponsor during your show and explain their services to your audience.
Selling a Product to Your Audience
If you don’t want to work with someone else or have a small but dedicated audience, selling your own product or service could work well. This could be a physical item, a book, a course, or even a service like counseling sessions. In fact, many professional counselors run their own podcast with the goal of attracting new clients. By providing high-quality content that helps people, you can broaden your network and spread the word about what you do.
Asking for Donations
Sometimes, you might not have anything to sell to your listeners, but you still want to get paid for your hard work. In such a case, it could pay off to ask your audience for donations. If they genuinely enjoy your show and are keen for it to continue, they might be eager to help you out. Again, this is a good option for a podcast with a smaller but very engaged listener base.
Creating Premium Content
Creating content takes a lot of thought and hard work, so you might not want to give it all out for free. While providing people with a lot of free, high-quality material is a great strategy to promote your brand, there comes a point when you can start to reserve some of your work for paying customers. Offer your listeners extra insights, a behind-the-scenes look, or ad-free access if they pay you a monthly fee.
Making Money in Person
Occasionally, you might be able to make money by attending conferences or creating your own in-person events for your fans. Running your podcast can make you a thought leader in your niche, so people will be happy to pay to hear you speak. This can be a great revenue boost in addition to the other streams of income discussed above.
Generating income from your podcast isn’t hard if you’ve chosen a good niche and given your show’s content and presentation a lot of thought. When learning how to create a podcast, don’t forget to research various monetization options like affiliate marketing or sponsorship, selling a product, asking for donations, creating premium content, or attending in-person events.
If you need more inspiration, visit Helium Radio Network to listen to our podcasts and live shows. With over 5,000 different podcasts available, you’re sure to find something that will motivate you to get started.