Profit From Your Podcast

Podcasting has become a popular way to make money and share your voice with the world. It's no secret that many people have used podcasting as a way to monetize their content and make a living. But creating a successful podcast takes time and dedication, making it difficult for those just starting out to see success quickly. In this article, we will explore if you can realistically make $500 in your first month of podcasting with the right strategies and techniques for monetization.

There are always exceptions to the rule. I've interviewed people who had such a niche show that they had a sponsor before they released an episode. So yes, it is possible, but for many people with an "Inspiration Podcast with Inspirational People with Inspirational Stories" it may be quite a bit harder.

• New podcasters often ask if they can make $500 in their first month
• It depends on various factors such as existing audience size, celebrity status, and podcasting talent.
• To examine the question from a logical point of view, consider the example of "Bill," a new podcaster with no audience and no product or service to sell.
• Podcast hosting companies report median download numbers of around 158 per episode after 45 days, and the average is around 1,520.
• If a podcast is only getting less than 10 downloads per episode, there is likely something wrong with the show.
• Some companies claim that new podcasters can make money from day one, but the reality is that earnings will likely be very low. Sure it is "better than a poke in the eye" but still a long LONG way off from the $500/month goal.
• In my travels and conversations, in order to make a significant amount of money from podcasting, most podcasters have multiple streams of income and have been podcasting for a while. (3 Years seems to be a common answer to "how long does it take?).
• It is also essential to have a clear plan for monetization, as simply hoping to make money from advertising may not be a reliable strategy.

Start Your Podcast The Right Way

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• Step-by-step tutorials that walk you through the whole process of planning, launching, growing, and monetizing your show
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Get a Signed Copy of Profit From Your Podcast

You can get a personalized version of the book Profit From Your Podcast: Turn Listeners into a Livelihood signed by me to you. go to www.profitfromyourpodcast.com/book

Jordan Harbinger has all of his ads listed under a "Deals" page. Here is why this strategy makes sense.

• Your audience only has to remember one website address
• Your audience may go there to look at one advertiser and end up purchasing from multiple
• Your audience doesn't have to remember coupon codes
• People may share that page with their friends boosting SEO
• Jordan actually says "/deals" in his podcast which is being tracked as the actual address is /advertising

Jordan is mentioned on page 11 of Profit From Your Podcast.

On this episode of Profit From Your Podcast, Dave Jackson delves into the topic of monetizing podcasts beyond just sponsorships. Guest Michelle Jackson shares how she started the project Podcasters Getting Paid to address the reluctance of podcasters to spend money on learning how to monetize their shows. Michelle predicts that the industry will change in the next year or two as more people become frustrated with not seeing results.

Michelle offers her insights on matching the right product with the right audience and creating supplementary content.

The episode offers valuable advice for podcasters looking to monetize their shows in creative and profitable ways.

Check out the book Profit From Your Podcast: Proven Strategies to Turn Listeners into a Livelihood

Volley Is Going Out Of Business

Back on episode 55, I interviewed Josh Little. Josh made a GREAT Product and had a GREAT staff. In my opinion, they had too much "good stuff" in the free version of their app. Consequently, people didn't upgrade. This was my favorite tool for asynchronous coaching.

I've replaced it with Zip Messenger

In This Episode

[00:05:24] Podcasters are reluctant to monetize and spend money to learn, still preferring free resources; this will likely change in a few years.

[00:07:40] Not ready to monetize without $10 investment; started free due to lack of money; quit job and went into digital work; needed to make money to sustain and keep projects going.

[00:10:26] People have unrealistic expectations of what it takes to be successful in the online space. It takes learning and adapting, understanding your audience, and purposeful content.

[00:14:26] Writing ebooks for passive income, make money with courses and affiliates.

[00:16:50] Making money through partnerships and events related to women and money.

[00:19:08] Negotiating deals, showing the brand's ecosystem, not needing to give downloads, and raising rates when necessary.

[00:21:16] Creating supplemental content for show to monetize without disrupting flow.

[00:23:39] Monetize work without sponsors: think, don't force answer.

Mentioned In This Episode

Namecheap.com

Coolerwebsites.com

Profit From Your Podcast: Proven Strategies to Turn Listeners into a Livelihood

School of Podcasting

michelleismoneyhungry.com

brandbuildinglab.com

Michelle Jackson

Michelle Jackson is a podcasting enthusiast, teacher and entrepreneur. She created the project 'Podcasters Getting Paid' to help podcasters better understand the ethical considerations and practical monetization strategies associated with podcasting. With a passion for teaching and helping others, Michelle has been educating people about podcasting and its many facets for over 7 years. She believes that everyone is capable of making a living from podcasting, regardless of their experience level, and is dedicated to helping people reach their potential through her courses and workshops.

See michelleismoneyhungry.com and brandbuildinglab.com

Join the School of Podcasting

Are you looking to start your own podcast but don't know where to begin? Look no further than the School of Podcasting. Our comprehensive online courses and one-on-one coaching will teach you everything you need to know, from equipment and editing to marketing and monetization. With our proven methods and expert instructors, you'll be creating high-quality, engaging content in no time. Say goodbye to the frustration and uncertainty and hello to a successful podcasting career with the School of Podcasting.

Mentioned in this episode:

Need Help Growing Your Show?

Do you know why your show isn't growing? (Probably not as you are TOO CLOSE to the content and y...

Patreon Statistics
In working on the update for the Book More Podcast Money, I have a contact at Patreon who informed me

In 2017 Patreon paid out $150M, and they are set to pay out $300M in 2018

In 2017 there were 50,000 financially active creators, this number is up to 1000,000 in 2018

In 2017 there were 1 million patrons, this number is up to 2 million in 2018

Full notes at www.morepodcastmoney.com/9

Today we look at one more way that is come on the horizon to make money with your podcast. When you are popular enough you can host live events where you record your show and your audience can come and watch you do this live. You can sell t-shirts and other merchandise.

Pod Save America (www.crooked.com) is on tour and I checked out their ticket prices and their locations.

Byham Theater in Pittsburg
Sold Out 1313
Tickets start at $40
1313 X $40 = $52,520

They have two nights you at Radio City Music Hall in NYC
Capacity of Radio City Music Call
6,015
6015 X $40 = $240,600 for one night

Now don't go crazy this is not profit (you have travel, food, equipment expenses) but none the less this is another option where you can make money with your podcast.

Check out the book **More Podcast Money**at Amazon