Permission to earn money, granted! Money goals is a must have in your podcast compass.
I believe that if you’re podcasting to inspire, educate, or entertain, you are allowed and should earn a profit with your podcast OR as a result of your podcast. If you’re in the category of hobbyist podcaster, this applies to you just as much as the person who is podcasting for their business.
In this episode, I share why you should be intentional about having a profitable podcast and you’ll discover many different ways you make that happen. Click play to listen to extra details that are not in the text below!
Jump To It
00:14 - Permission to earn money.
00:50 - Facts about the Podcast Planner.
01:15 - Why it’s important to monetize.
02:34 - Julia Shapiro & Jenna Weiss-Berman on making money.
05:15 - Don’t under value the skills and talent you possess.
05:50 - 18 ways you can have a profitable podcast.
13:30 - How to choose which model is right for you.
16:49 - Keeping the podcast compass close.
17:16 - Next series teaser!
18:37 - Things you should know.
Why It’s Important To Monetize
If you’re having fun educating, entertaining, or inspiring, would you seriously turn away the money that will allow you to do that more? I’m talking about honest money, nothing sleazy. Something that aligns perfectly with what your brand stand for.
Now on the flip side, if you’re completely on board with wanting to earn money, but think that the money will come naturally, think again. We need to be intentional about implementing ways we can have a profitable podcast.
These profits can cover the cost of having a podcast because podcasting is not free. And you know what’s most exciting? Money allows us to continue doing what we enjoy and presents opportunities for us and our audience.
There’s a great clip played in this episode in which Julia Shapiro from Radiotopia and Third Coast Festival, along with Jenna Weiss-Berman, founder of Pineapple Street Media, expresses my feelings on this topic. It's a must listen!
The 18 Ways
These 18 models are reviewed and explained in details in the episode, don’t forget to listen. As you review the list, remember that you don’t have to stick to one model and you can have more than one.
What you specialize in
Book or eBook
Tutorials or courses
Live recording of your show
SAAS - software as a service
How To Choose Which Is Right For You
With the exception of traditional sponsorships (each opportunity is unique), don’t think you have to wait like a full year of podcasting before you can start implementing any of the models I mentioned.
Here are 3 tips for getting started:
Know your market and what types of products, services, and events they are more interested.
The best way to know more about your market is by surveying them! Create a survey and promote the survey on your podcast, newsletter, and social media.
Choose the model that feels most comfortable.
The sponsor read at the beginning of the show and the sponsors mentioned at the end, has never resulted in negative feedback. What I have received are more sponsor offers! So please do not be afraid or use the excuses that your audience will hate you for having commercials.
You have permission to monetize so that you can continue to share your voice with the world without being afraid or trying to please everyone.
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