Day 14: How to Make Money From Podcasts
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Can you actually make money from podcasting? Chances are that at some point in your life, one of your friends told you that you should start a podcast. Years before that it was “you should start a blog!” Years before that it was “you should be on YouTube!”. Maybe you've fiddled around with the idea but never put time aside to do it full out. Well, I’m telling you right now to go for it! Podcasting is on the rise and there is a lot of money to be made!
What Is a Podcast?
A podcast is long-form audio content that can span over a wide range of genres and topics. A podcast could be whatever you want. You could tell murder mystery stories, you could interview people, you could teach others about literally anything.
That being said, podcasting is not going to make money from the get go…
I want you to treat podcasting almost like YouTube, in a way. You're going to be creating a lot of content but the pay might not always be an exact reflection of the time to put in to do so. This is similar to how almost every social media platform works.
The good news is that there is data that shows that podcast listeners are more affluent than the average joe. This means that they have a larger amount of disposable income to spend on the products and offers you promote within your podcast. Not a bad deal, right?
How to Make Money from Podcasting
I hope by now you are starting to catch on to how all of these side hustles are connected. Revenue from podcasting comes from an idea that we talked about in a previous lesson. This strategy is called 1,000 True Fans. Essentially, you only need 1,000 people to love and adore your content. Think about it like this: over the span of 12 months, you have 1,000 people who spend just $50 on an offer you promote. That’s $50,000 a year!
Just like every other social media based hustle, podcasting is one where you curate your audience. The ways you can monetize off your audience are what you're learning in this course. You could create a brand and promote your affiliate offers through your podcast. You could advertise dropshipping products. You could create an online course or exclusive series.
The possibilities are endless. Podcasting is simply the medium you use for your organic reach.
Draft your value packed opt-in offer
Turn your listeners into leads. Do this by collecting their emails, phone numbers, and other contact information.
Deliver your welcome sequence. This is where you reach out and actually promote the products you're an affiliate for.
How to Start
Starting a podcast is actually super easy! Besides creating a name, content ideas, and a description, the first thing you should do is create a little visual. Your podcast is going to be everywhere! Creating a visual icon will make your podcast recognizable.
No matter what your podcast is about, its files need to be hosted via an RSS feed. An RSS makes your files readable and can assist you in automatically uploading each episode to the platforms you chose.
I recommend using Podbean because it literally does it all. If you'd like another site to compare Podbean to, Libsyn is also high on my list. These softwares are going to have a price to them but like I said, you can rely on them to take care of all the technology for you.
Remember that before you create your podcast, you should have a website built and a brand in place. After people listen to, chances are they will head to your website next. All serious podcasters have a main website or a podcast specific url/landing page that redirects listeners to the main website. If you haven't figured it out by now, a website is really important!
For more information, check out my favorite article on podcasting called How to Start a Successful Podcast (For Under $100) by Shopify.
Too many people think of podcasting too romantically. Creating content while not having the back end of your business set up will make you no money! Now, maybe you love podcasting and aren't in it for the profit; that's great! However, the reason I’m teaching this course is so that you can turn your hobby into a full time income. You need to work the business end out before anything.
Getting a brand deal is the best feeling in the world. It's such a reward of the hard work and effort that you put into creating content. Plus, it's easy money!
The path to this point is not easy, though. It's hard work and you have to have a sizable audience. 1,000 is not enough. 10,000 is not enough. 100,000 — you're getting there! 1,000,000 — now you're in business. I wanted to break that down for you in case nobody has before. If you're anything less than 1 million views a month, that's okay, but you're most likely not going to have brands knocking on your door. Instead, you should be working on the back end of your business because, truth be told, you will always make more from a funnel than brand deals.
If you're starting from scratch, I advise you to create one podcast episode a week for a year. After a year (approximately) you will start to see payouts for all of the hard work you put in. At this point you will have a sizable volume, number of listeners, and email list.
You have to be passionate about the topics you talk about! Passion is the only thing that's going to drive you through that first year of building up your side hustle.
In hopes of leaving you encouraged, check out this data…
Monthly podcast listeners have grown 54% in 3 years! In addition, a total of 37% of Americans listen to podcasts now. Furthermore 2020 was a record year for podcast listeners; 100 million Americans listened to a podcast at least once per month. Lastly, half of Americans age 12 to 34 listen to podcasts monthly! That's insane!
Well, are you going to start a podcast? If you think podcasting is something you're willing to commit a year of your life to, comment below! In fact, if you've taken the time to make one already, drop the link. I'd love to subscribe!
I’ll see you on Day 15!
Peace and God bless.
For the complimentary worksheets and resources, go to adrianbrambila.com/30days.
I make new content every single week, so be sure to subscribe to my Youtube and follow my Instagram @brambilabong and TikTok at @AdrianBrambila. I also have tons of resources and courses on my website that you won’t want to miss. Head over to www.adrianbrambila.com to learn more about what I do and how I live a financially free life.
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