Affiliate marketing or performance marketing is marketing that rewards you for referring other companies. Typically, you get paid when someone makes a purchase. Affiliates can promote products or services that they use or know about in a genuine way. If you do not have the viewership to match traditional sponsorships, you can create your own “commercials” to promote your affiliate offerings. Or, of course, you can include mentions of your product or service while still providing regular content.
Sell personalized merchandise to your followers
Give your fans an opportunity to show their support for your podcast by selling personalized merchandise such as t-shirts, stickers, posters, mugs, bags, calendars, and more. The easiest way to run a merchandise store would be to use a print-on-demand distribution model. This means that a third party prints the merchandise on your behalf and ships it to the location of purchase. This means no overhead costs, no wasted shipping time, no need to carry inventory, and little financial risk.
Sponsorships are the most common way podcasters make money. This is when a podcast promotes its sponsor during the show. You will hear your favorite shows promote their sponsors several times each show. The revenue you earn from sponsors depends on how many downloads of your episodes you have. Sponsors are paid in thousands (mille is Latin for “thousand”). Prices range from $18 to $50 CPM, but very popular podcasts can go for much more. The price of an ad can vary depending on where in the episode the ad is placed. Pre-roll ads run at the beginning of the show, usually for 15-30 seconds. Post-roll ads run at the end of the program, also for 15-30 seconds. They have the same value to the advertiser.
Funding is available directly from listeners through one-time and monthly donations. Patreon is a popular platform for podcast hosts to recruit and retain monthly subscribers. You can also add a donate button directly to the site to accept PayPal or Stripe payments. You can encourage listeners to invest in your podcast by offering them free handouts, exclusive episodes, live discussions, or anything else in return that they support.
You already have a wealth of knowledge about your industry and are sharing it with the world, but everyone is different and has personal questions about your industry based on their own experiences. So why not try coaching? If you don’t have a lot of extra time, explain to your podcast audience that you have a little extra time and would like to help ____ people. Additionally, look at what others in the same position are doing and see how you can play to your strengths. I’ve said it before and I’ll say it again. Your experience, education, and personality traits are unique to you. So, even though there are coaches in the same industry as you, no one else is the same as you, and that is your strength.