A profitable podcasts does not happen by accident; they are planned. The most popular podcasts have dedicated, expert hosts who know how to give their audience and their sponsors what they value most, and have fun doing it. You can do it too if you are prepared for a little hard work.
Develop Amazing Content
Nothing can replace excellent and timely content on your podcast. You need to plan in advance what you’ll talk about. Match it to products you want to promote or even products of sponsors you want to attract. But keep it all within a narrow niche and you’ll be more successful.
Provide Value to Your Audience
You want your audience to come away from listening to your podcast educated, enlightened, entertained and full of energy and excitement for what’s next. You want them to take action on what they hear and tell other people about it too.
Promote and Build Your Audience
As you work to build excellent content, you also need to work on building your audience by marketing your podcast to the right people at the right time and place. The bigger you can build your audience, the more sponsorships you can sell – and for a higher price too.
One of the best ways to make money with a podcast is to sell sponsorships, although that is not the only way. However, it is one of the quickest ways to make a substantial amount of money. You will need a large audience to make this income stream substantial.
Join an Advertising Network
There are podcast-only ad networks that you can join once you reach a certain point in your podcast development. This might take more time to get to, but it can be a goal to work toward.
Link – http://podtrac.com/
Provide Extra Value to Your Sponsors
When you take on a sponsorship, it’s important that you under promise and over deliver on the value of the sponsorship so that they want to do it again. Like anything else, it’s easier to keep a client than to find a new one.
Promote Your Own Products and Services
If you have your own products and services, use the time to promote them as you would any ad spot. In addition, you can mention your products and services on the website for your podcast, which a lot of people may check out.
Building a profitable podcast can take time, a lot of time sometimes. If you really plan ahead and have your niche down pat, you can start earning money within six to eight months from the date you start. This assumes that you work on building your audience while you create the content.
Profitable podcasts have one thing in common. They are long standing and are published on a regular basis on a schedule without fail. That’s because once the audience gets accustomed to hearing from you, they will need to hear from you on time and often. They’ll come to rely on you for the information you provide and will tell their friends. And that will build your audience even more – thus improving the value of ads on your podcast.