The Truth About Podcasting
If you are looking to make money quickly with a podcast (6 weeks, or even 6 months) and your SOLE reason to start a podcast was to quickly quit your day job, I have a word for you:
Getting rich quickly with podcasting is something that seldom (if ever) anybody does. According toe Libsyn.com 8% of pdocasters (as of this recording) have enough downloads to get a “big” sponsor (Squarespace, MailChimp, etc). So selling ads on a cost per thousand download basis (CPM) isn't going to work for 92% of us. So what are the quicker ways of making money.
- Deliver value that will WOW your audience.
- Promote other products through affiliate links. There are sites like Amazon, but other sites with TONS of companies like Share a Sale
- Patreon is the twist on donations. It is similar to a kickstarter program, but its ongoing. You can offer rewards to people who support you.
Be careful of not offering rewards such as:
- More episodes (there are still only 24 hours in a day)
- Shipping items (remember your audience is global)
- Make sure the rewards are good for your audience – not just you.
Making a Living with a Ads, Not Using CPM
Glenn Hebert was on my “School of Podcasting” show and he makes a living selling ads per episode. These companies are looking to increase brand awareness. Listen to it here