As a podcaster, there are a multitude of ways that you can monetize your platform. You aren’t limited to podcasting alone for revenue. Other avenues can include merchandise, services, and partnerships. The possibility for income is limitless as long as you deeply understand your niche demographic and what appeals to them.
How to Make Extra Money In Addition to Podcasting
Your podcast followers will appreciate all that you have to offer. Don’t stop at only opinionating. You can also provide additional benefits to your podcast community.
Courses
Everyone loves taking online lessons to gain new and in-depth knowledge. You can provide courses pertaining to the subjects you talk about. These courses can teach new skills, help followers gain new insights, or simply show viewers how to enhance their life in new ways. Whatever it is, it can provide value and extend your ability to impact your followers.
Sponsorships
When you sponsor other products or partners on your podcast, you can be paid for the advertisement as well as any sales you make. This is depending upon the type of partnership you decided on with the person or brand you’re sponsoring. You may need a larger following for someone to want to be sponsored on your podcast, as most advertising companies require around five thousand to ten thousand followers.
Coaching
You can provide ongoing coaching for followers who want a personal touch. If they need life guidance in specific areas that are related to your topics, this can become a very successful stream of income. Coaching happens on an hourly basis. You can provide different tiers of coaching depending on the type of package a follower buys, making it more flexible to the follower’s needs.
Donations and Crowdfunding
You can raise money to expand your podcast goals or accept donations. Followers will be happy to support you as they enjoy your content and what you have to offer. You can launch a crowdfunding campaign to raise money for a specific outcome. Maybe you need new recording equipment or a new laptop to run your podcasting business. All of this can be promoted to followers who may be eager to help.
Books
If you have provided a lot of great content on your podcasts, write a book. Make a summary of many of the great topics you talked about. You can elaborate on some of the things you discussed as well or go more in-depth on complex items. Books are a great way to make residual income as your growing popularity also promotes your books with little effort.
Services
You can provide your services as a skilled professional, but keep it relevant to your podcast topics. With a service, you can create solutions for things that you think are difficult to accomplish or is a common problem among your followers. Be creative in the creation of your service and try to appeal to a dilemma you identified. To gauge what issues your followers are having, you can launch a survey to get an idea of what they need.
Learn More About Additional Income
You can read up on more ideas on how to create surplus income separate from your podcast. Another great approach is to shop merch, which is easy to create and ship with current tools available.