How to monetize your podcast effectively for Colin’s perspective

How to monetize your podcast effectively for Colin’s perspective

Evaldas: Yeah. It’s not the noise, and as you already are marketing your business career into a podcast, one of the thing like a — main ways how you can monetize a podcast or money in doing podcasting.

Colin: Yeah, sure. There’s a range of different ways. I think for me, the most common is selling your product or a service. So if you’ve got a company that already sells a product, already serves a service, so you might be — Take us for an example, we sell courses, we sell production services where we work with clients, and we sell both of those on our Podcraft podcast because we basically give away a lot of value. We tell people how to podcast, we tell them how to do all on the show. People grow to trust us because we have given away so much. We’re showing our authority because we are demonstrating and we know what we’re talking about, and we are telling people what we are like. We’re giving away our personality, you know where I’m sure that there’s human beings behind this product, this service. All of that goes together and to make people trust the stuff that we sell, so we don’t even have to sell. We don’t really do much selling in the show, we just talk about it and maybe we mention what we’re doing with — we mention a course.  So we mention a service at the end of the show, and we actually make sales through that. So that’s I think the most common, the most effective way to monetize a podcast, to have something behind it that you can sell as related to the content. There’s a lot of different ways as well, so if you don’t have a product or service yourself yet, you can always get sponsor. So that’s probably the next most common. People maybe think of that as a default way to monetize a podcast. You get somebody that’s related to your content.

So for us, for example, we do podcasting, so our sponsor might be Azure who do microphones. They do great microphones, they may sponsor our show because our audience is very likely to want to get a good microphone at some point, and they would just pay us say, a set fee per thousand listeners, that’s generally how it works.

Beyond that, there’s a few other ways. There’s a popular experiment with things like crowdfunding, there’s quite a lot of people actually crowdfunding their series these days. You’ll do season two and then you’ll stay right for season three, we want to go and crowdfund that season, please give us some donations, some contributions will go away and I will spend on your equipment, you travel to go and meet people, that kind of stuff. It’s working quite well actually for a lot of folks, but I would say that’s probably the main ways these days, through our other little ways, but that’s probably the most common.

Evaldas: Nice, and just to mention that I hope that you have a full series on monetization in your podcast

Colin: Indeed yes.

Evaldas: Quite generous of you to putting all that content yourself.

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Colin: Thank you very much. Yeah, it’s a question where I was always asked. It’s probably the most common question is how you monetize a podcast. It’s a funny one actually, because a lot of people we worked with are businesses already exist, so people that already run a business. They’re actually going to use podcasting as maybe a new marketing method, a way to get their brand out. They are to come more visible to grow those funds, to show the personality behind the brands, so they’re obviously going to be selling what they sell already. They’re going to sell their products and services, but then other people do do a podcast and then monetize later. So my mountain biking podcast, that was just what I was hoping really, and it might just be further than the lanes six months a year, and you decide that you want to take on a sponsor to pay for some of your bills. So you might even create a course or a product related to, so there’s different pathways, but yeah, there’s definitely a lot of different ways to do it. I think it works really well for businesses that are already existing at themselves. That’s probably the most common way that people can succeed quite quickly because you’ve got all the resources behind it, you’ve already got a knowledge there, and you’ve got things that you can direct people to.

Evaldas: Nice answer, and with that I want to get back to the Japan for your second chance.

Colin: Okay.

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About Evaldas Miliauskas

Evaldas Miliauskas is the founder of CastSource - a startup that provides transcriptions designed for podcasts. He is a passionate podcaster listener, host, and a entrepreneur.

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