CH 8 - Different Ways to Monetize the Podcast?

0:00 Different ways to monetize the podcast. Now, when you start promoting your show, you will realize that there's a lot more you can do to get the word out.

0:10 Get a sponsorship deal. The first, and one of the most common ideas when it comes to monetizing the podcast is to get a sponsorship deal.

0:18 This means you have a sponsor whose product or service is somewhat relevant to your show. If you can manage that, the advantage with this model is that they don't need you to have a certain number of listens or downloads to sponsor the show.

0:31 This is also why a lot of podcasts go for this model. Referral or affiliate sponsorships. Another way of doing this is by reaching for referral or affiliate sponsorships.

0:42 This model also does not need you to have a certain number of streams or downloads. You will strike a deal with a partner or promote their product or service on the podcast.

0:51 How is this different from the first one? Well, you will also give a link to your audience and tell them where they can buy the product or service that you are recommending.

0:59 This way, you direct or refer traffic towards that website, and that's how it's done. This is also called Affiliate Marketing, and it is a popular strategy in other forms of media too.

1:11 And by the way, you also earn a commission from the sales made through your show, which is the income you are looking for to keep the show running.

1:19 Offer exclusive content. Another way of making money is to sell premium content to those who pay a little extra. This means there is a monthly subscription fee that gets the listener's content that is not available to those who are streaming it for free.

1:34 Make sure that it is unique content, otherwise this doesn't work. Ask for a donation. And finally, you could go directly to the listeners.

1:44 You could ask for donations, and while this is not the most reliable way of making money, It is actually interesting to see how many listeners are game.

1:52 This is also a way of doing it without any strings attached, which makes a lot of hosts comfortable because all they need to rely on is themselves, and that is easy to sell because they are already in the business of doing that.

2:05 You can use services like GoFundMe, StriperPaypal to receive donations, but make sure the link is clearly visible and easy to find because no one likes a treasure hunt that ends with them giving money.

2:16 You might also add a note about what you need the money for because that will increase your chances. Being upfront and honest has its perks.