
If you’re anything like me, you love to do life with podcast flowing through your ears. Whether you’re washing dishes, folding laundry, driving to school pick up, or getting geared up for a busy day, a podcast makes the perfect companion. AmIRight?!
We love podcasts, and how could we not? The ability to learn, grow, and laugh for FREE is a powerful resource that I’m honored I get to be a part of with my own show, the Goal Digger Podcast. On top of being an impactful and meaningful creative outlet for me, it’s also become a vital income stream for my business.
Through my years of podcasting, I’ve learned that a podcast can be a really fun, easy way to grow your existing business, be a great side hustle alongside your 9-5, or even become your entire business! Monetizing your podcast can also be a part of your creative process, and when you stack up a handful of strategies, your profits will stack up, too!
When you provide value, build trust with your listeners, and show up consistently, you garner buy-in from your audience, companies and brands you love. And sponsors, with real dollars, will actually WANT to work with you! You can build credibility, land new opportunities (ones you might’ve never dreamed of before!), make an impact, and grow your revenue all at the same time. Podcasting really is a triple hitter.
So, let’s talk about some ways you can leverage your new or existing podcast to drive an income and make money for your business (or become your business)!
Want to skip this article and get right into my proven podcast launching and monetizing program (without ANY of the guesswork on your end?)
Related: How to ACTUALLY Make Money as a Podcaster
1. Become an Affiliate
Here’s a funny story, but when I first started my show, I accidentally got us free groceries for an entire year. How? Well, I shared my “friends and family” code for HelloFresh on my show and so many members of my audience snagged the deal, we got box after box delivered without ever having to pay for it.
The truth is, unless you have a ton of followers or a massive show, you likely won’t have paying sponsors lined up ready to cut checks, but that doesn’t mean you can’t strategically monetize from the jump. The easiest way to start integrating some slightly passive income opportunities into your podcast content is to become an affiliate with your favorite online brands and businesses. Brainstorm a handful or more brands that align with your podcast, your social media content, or your existing business.
Are there any tools, online platforms, products, or special interests that you think your listeners would love? Think through what you already use so that when you integrate a mention into your episode, show notes, or social media posts, it fits in seamlessly with what you already love and talk about.
You can do a quick Google search to see if the brands you love already have affiliate programs in place to which you can easily apply. If not, you can also snag an email address or contact form from their website and reach out to them with a little self-promo pitch.
Send them an email saying something like, “Hey, [BRAND], I’m the host of [MY PODCAST] and I’d love to share about some of my favorite products with my audience, like [THIS ONE]. If you’re interested in working with me and generating an affiliate code that I can share with my audience, let’s get this party started!” Leverage your personality and confidence that you’re a good match and you never know what could happen! This goes for developing sponsorship relationships, which we’ll talk about next.
Related: What Is Affiliate Marketing? And Is it Worth Your Time?
2. Crowdfunding and Membership Opportunities
As your community of listeners grows and you maintain consistency with rolling out new episodes, their trust in you and your brand will grow. With that, there are opportunities to open up ways for your listeners to support you directly. You can essentially crowdfund a portion of your podcasting income through platforms like Substack or Patreon where you can share more in-depth, creative content that your audience is craving.
When you’re planning to create value for your listeners that exists behind a paywall, make sure you’ve planned content that feels like it’s really delivering on value. You don’t want your audience to sign up and find content that doesn’t feel worth their dollars or time. These are platforms where you want to overdeliver content so that everyone who signs up, even if it’s a low monthly cost, sticks around for years to come. Consistent, high-quality effort on these membership sites means a consistent and growing income for you. Plus, they’re your listeners and are the reason your show can grow to such success!
3. Promote Your Own Offers
Your podcast ads and offers don’t always have to be someone else’s! In fact, this is an incredible place to drop and re-release your own free (i.e. lead-generating) or paid offers to your audience. You’ve got people who have willingly tapped that ‘follow’ button on their favorite podcast app. And I guarantee you have listeners who don’t miss a single episode! Don’t shy away from dropping your amazing offers with confidence.
You can also cross-promote other branches of your business or other places you show up online. If you share different content on Instagram Reels or release amazing videos on your own YouTube channel, give your listeners ample opportunities to join you there! Your audience is likely not solely comprised of podcast people, but the catch is that they won’t automatically know where else to find you unless you consistently point them in the right directions. Don’t ever assume on behalf of your audience; share and re-share ways they can connect with you and get value from how you already show up!
Related: How to Create a Freebie That Your Audience Can’t Resist
4. Partner with Your Guests
Did you ever consider that your guests likely have offers that your audience would love? And if you can strategically partner with your guest and have an exclusive deal or an affiliate link, you could collect a commission for the sales your audience is responsible for. Not only does this method help you generate more income from work you’re already doing but it also gives you info and insight into what your audience truly wants and is willing to pay for.
When interviewing guests on your show, you can generate income through making commission sales by sharing about their paid offers. This is an easy way to also make your guest’s time more impactful because you’re not only encouraging them to share boldly about their offer, but you both have an incentive to drive listeners to the episode.
5. Land Podcast Sponsors
To land a really lucrative sponsorship deal, you’re going to want to put in some work on your podcast first. Most sponsors are looking for evidence that you (and your listeners!) are consistent. You’ll want to show off your download numbers to prove monthly listenership and good reviews to match! Beyond that, sponsors will want to see that you’re on a regular posting schedule and that your show aligns with their brand.
When you have your numbers and are feeling confident about your consistency, reach out to potential sponsors and pitch yourself. You can pitch a recurring sponsorship, perhaps once a month (or more or less), or you can offer up a handful or more of specific episodes you’re willing to do that sync up with their brand, values, expertise, or specific offering. For example, you might want to be sponsored by your favorite accounting software, and you could pitch a few finance-forward episodes or niched conversations with their CEO.
Drive Long-Term Profit with a Proven Podcasting System
Running your own podcast will always be a learning journey, especially as the podcasting space shifts over time. We have to be willing to shift with it! So, as you’re starting out, my best advice is to not give yourself any extra guesswork, reasons to doubt yourself in the process, or obstacles that make you want to give up before you’ve even launched episode one.
After 800+ episodes and 110+ million downloads of The Goal Digger Podcast, I’ve developed a 5-step podcast launching program that walks you through (and I mean this) every single step of the process.
In the Podcast Lab, I’m giving you everything you need to make your podcast successful AND profitable! Secure a spot in my podcasting program while enrollment is open (which is only for a little while!) so I can take you by the hand and help you build a podcast that delivers that creativity and consistent income you’re looking for (and deserve.)
There are listeners already waiting for your show. I have seen so many students prove this to themselves over and over again. There’s a space in the podcast spotlight for you. Step into it confidently!
Turn Your Podcasting Idea into a Successful Income Stream!
Start The Podcast Lab for just $39 while enrollment is open!