Talking about money can give us the ick.
Especially when we’re asking for some.
But when you launch your podcast you'll no doubt get the stage where you'll think
"I wonder if this might be a good time to start making a few quid from my podcast?"
Maybe it’ll be time to upgrade your kit, you want to start being able to cover the cost of your hosting, or you simply want to make your passion project that little bit more sustainable.
Whatever your reason, the thought of actually asking for money can bring up all sorts of squirm in your seat feelings.
Podcasters have told me they have a fear of rejection, worry about appearing greedy and even that lovely, niggly nagging doubt that you're "selling out”.
But what if you had a super friendly guide to walk you through the options for monetising your podcast when you get to that stage?
Hello, it’s me! 🙋♀️
This week, we're kicking off a new series called 'MIC to Money' where we'll explore options about how to make money from your podcast.
Because let's face it, even us not-for-profits need to keep the lights on! 💡
This series will be delivered straight to your inbox throughout the spring, giving you plenty of time to digest each monetisation option and figure out what works best for you.
I was inspired to do this series, because of a question I get asked all the time at our podcasting workshops.
How can I make money from my podcast?
So in the first edition of ‘MIC to Money’, I’m going to give you a handy overview of a few options you have to start making a few quid from your podcast.
But before I start, here’s some important caveats,
- Keep it real
Don't expect to get rich overnight! Focus on creating brilliant content first.
- Much more to explore
I’ll be showing you just a few ideas to get you started. There's a whole world of monetisation out there!
- Are you ready?
We'll explore each option in more detail throughout the series, so you can figure out what works best for you - right now (or not!)
- You're in the driving seat
I'm your friendly guide, but ultimately, it's your podcast and your journey.
Here's a few monetisation options to get you thinking...
1. Ask your listeners
This could be donations, memberships, or crowdfunding campaigns. It's a great option if you have a loyal bunch of listeners who are passionate about what you do and want to support your work.
2. Advertising
Sell ad slots on your podcast to businesses or organisations that align with your content. This can be a brill way to generate revenue and at the same time, introduce your audience to new products and services they might love.
3. Sponsorship
Partner with companies or organisations that are passionate about what you do and can sponsor your podcast in exchange for promotion. This can be win-win, providing you with financial support and then giving your sponsor access to your audience.
4. Grants / Foundations: Many grants and foundations are keen to support projects that have a strong communication and outreach element. Could your podcast help you to share best practice, raise awareness, or even market your project or services?
I’ll go deeper into these options over the next few months in the new ‘MIC to Money’ series.
Why would you even consider monetisation?
Well, for starters, podcasting ain't free! Maybe you want to:
- Cover your production costs (those mics and editing software don't pay for themselves!)
- Invest in new equipment or software
- Hire a team to help you with production (because you deserve a break!)
- Donate to a cause you care about (pay it back!)
When should you start thinking about monetisation?
You don't have to wait for thousands of listeners to start monetising your podcast. In fact, some options, like asking your listeners for money, can be effective even with a small but engaged audience. BUT, it's important to focus on creating high-quality content first.
A special note for my social impact superstars
If you're a social impact organisation, make sure your money-making strategy aligns with your mission and values. Be transparent with your audience about how you're using the money and choose partners that share your vision.
This is just the beginning of our 'MIC to Money' journey! Over the spring, we'll explore each of these options in more detail, helping you find the perfect fit for your podcast and your purpose.
In the meantime, you keep creating amazing content and changing the world, one episode at a time!
Cool Things For You
Apple’s changing its ways
Historically submitting your podcast to Apple has been a right pain in the arse.
But some hot off the press great news for podcasters, Apple Podcasts has revamped its submission process, making it much simpler to get your show listed. They've teamed up with a bunch of popular podcast hosts (like Captivate Audioboom, Buzzsprout, Libsyn, and more) to automatically submit your show for you. This means no more messing around with Apple accounts beforehand – hooray!
But that's not all! They've also streamlined the process for claiming your show in Apple Podcasts Connect, making it easier to access analytics and manage your listing. This is a huge win for the podcasting community, especially for those just starting out.
A big shout out to PodNews for highlighting this issue in their Report Card and pushing for change!
Read more here
That’s it for this week’s newsletter - thanks for getting to the wee bit I write at the end.
I'd really love to hear from you,
What's the number 1 challenge your facing starting your podcast?
Simply reply to this email and I may even feature your challenge in a future mailout.
I’ll see you next week,
Vic x
