Podcasting is the strangest phenomenon.
It reminds me of hearing my parents and grandparents talking about sitting in front of the living room radio and listening to the news or story hour.
If you have considered podcasting, but wonder how it makes any money, or have not considered podcasting, read this post to the end.
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It is the same program I used to make a full-time income working from home on my laptop and only putting in part-time hours.
I started while I was still working my full-time blue collar service job until my part-time side business earned more money and I was able to quit working for my old boss and set my own schedule working from home and freeing up more time to travel and be with my family.
I have also gleefully watched and helped many others do the same thing.
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Ok, so why would someone want to do a podcast?
First of all, it sounds like fun.
You can talk about a subject that interests you for any length of time (podcasts go from about 6 minutes to 6 hours).
If it interests enough other people, then you will start to build an audience.
Perhaps, you may want to consider a co-host.
This can keep things interesting and also take the pressure off of any one person to talk the entire time.
One podcast idea that has a myriad of benefits is to interview people on the podcast.
I will explain later why that method could be so valuable.
Podcasts are very trendy right now, but also way less competitive than blogging.
There are only about 700k podcasts, but over 400 million blogs.
Also, over 150 million people are listening to podcasts at least once a month.
So, the chances of people getting your message is better statistically.
Podcasting is a great way for businesses and people to connect with their audience as they can hear your voice and get to know your personality better.
This increases likability and trust which will help grow your influence and impact.
Setting up a podcast takes a little more planning than building a blog.
First, you will want to decide on what topic you could make multiple episodes (100 or more?) about that will attract a large audience without being too broad and boring them.
I wouldn’t worry too much about length as long as you keep the content interesting.
People will listen for hours if they are engaged with what is being said.
Now, still preliminarily, you will want to create some cover art, get some decent recording equipment, have some music and intro created, get a domain and hosting, and write a show outline or two.
99Designs.com can create a logo for you and musicradiocreative.com can help with music, jingles, and intros.
For a beginner, I recommend Buzzsprout.com for hosting and its many features because it’s free for the first 90 days and they do the sound optimization for you.
Buzzsprout also has links to help you monetize your content and they just make it easy to upload your podcast to Apple Music or several other channels where you can either sell or share your podcast episodes.
Also, they transcribe the podcast for you, which is huge because then Google will be able to see the words and find your podcast easier to send you free traffic.
If you were going to try podcasting for 3 months because you are unsure if you will really enjoy it, then you would only be out the time and experience at the end if you didn’t move forward with a paid plan and new episodes.
The biggest question here for you may be, “Ok so how do I make money?”
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There are several ways.
I am biased toward affiliate marketing because it’s quick and easy for beginners.
Recommend products on your podcast episode that people can buy and you get paid a commission or referral fee.
You could have this set up on your website as well.
If you have your own product related to your podcast, then obviously, sell that.
Apple music will pay you for people to listen to or download your podcast.
You will want to look at the numbers and see if the math works out for you, because they pay per 1,000 downloads or impressions and for a small audience, it’s not much moola.
You can find advertisers to pay you to spotlight them or their products (if you have a large audience, they will likely come to you).
There are sponsorship opportunities and you could also ask your listeners for donations.
The real money-making value in a podcast is in the long-term (like almost anything).
Once, you have amassed a large audience, there will be profitable opportunities all around you.
You may be asked to speak at an event and get paid for it.
Here’s why I said earlier that interviews are so powerful.
First of all, you are getting to know people that are possibly influential or powerful in their fields.
Networking with people in high places has huge value.
It elevates your status with your listeners, teaches you how successful people think, and gives you contacts at places where you can possibly accomplish something you have as a goal.
I regularly listen to the Tim Ferriss podcast because I love the content, but his podcast is a perfect example.
He interviews people at the top of their respective field and tries to get the methods they have used to become successful and shares it with his listeners.
He sounds like he’s having a great time and in many episodes is drinking wine with his guests.
He has written a best-selling book from the content on the podcasts and has contacts at the top of many successful companies.
However, interviews are not the only path to success.
I’m just giving ideas because conducting an interesting interview is potentially easier than finding something to talk about for an hour (especially for someone just starting out).
If you are considering doing a podcast, don’t just read this and forget about it.
Sit down right now and start putting a plan together and get started on it today.
The time spent reading this post was worthless without action.
If you even wait until tomorrow, the odds of you taking action are greatly diminished.
If you do start one, please let me know what you are doing.
I will possibly spotlight it here and help you promote it for free.
Thank you for reading.
Phillip Adams