9 Ways to Make Money Podcasting Video Lecture | Become an Expert at Podcasting - Career Development

so you're thinking of starting a podcast
or maybe you already have one great well
how do you make money from that podcast
well very popular way to make money from
your podcast is through advertising but
it's not the only way to do it now
advertising is great you have an
audience and you have advertisers you
marry the two and you can get paid for
that and that's fantastic there's a lot
of people out there who are doing
podcasts and making a lot of great money
in that way a great friend of mine Sean
Stephenson from the model health show is
an example who's doing advertising right
making it sound very organic and his
shows because he also uses those same
products and because of that I trust him
in his recommendations and I get those
products too it works advertising is not
always a great strategy because for one
maybe they'd heard those ads enough and
they're gonna scroll through hit in that
15-second button just to get through
that part or perhaps those products
don't even align with your audience in
which case they might not even listen to
your show so what do you do how many
other ways are there to make money from
your podcasts other than advertising and
sponsorship well in this video I'm going
to share nine different examples with
you with real life examples from
real-life podcasters stick around number
one digital products digital products
are products that are electronic and
they can be distributed in a very very
scalable way online which is the benefit
there are a lot of examples of this for
example ebooks or music software online
courses those kinds of things one
example is the fantasy footballers
podcast hosted by Andy Jason and Mike
they sell a digital product called the
ultimate draft kit which they offer to
their listeners and it allows a person
to download all the best projections and
stats and top players for their upcoming
football draft I probably should have
got that this year because I didn't do
so well you buy it gets delivered to you
via email which is really cool so
hands-off but also what's really cool is
they have to do one of these every year
which allows for even more purchases
down the road another example is from my
good friend Rick mulready from Rick
mulready calm and the host of the art of
paid traffic podcast he tells a number
of courses related to how to do facebook
advertising so if you have a business
you want to scale or get in front of a
new audience
he has courses to help you do that which
are digital products number two physical
products for example the physical
products from the Jocko podcast it's
hosted by Jocko willing who is a retired
Navy SEAL and through his podcast he
actually sells a number of things such
as merchandise with his podcast name on
it like t-shirts but in addition to that
other things that help improve a person
physically such as
I'll make a threes and T's and those
sorts of things now another example in
this category is the bad dice podcast
with Ben Curry on this podcast which is
geared toward war hammer and the war
hammer gaming community he sells a
product that is called scenery dice I
have no idea what that is but it sounds
a little dicey
number three affiliate products what our
affiliate products well instead of
selling your own products that you spend
the time and money to create you can
actually sell other people's products
and through those recommendations you
can earn a commission affiliate
marketing has been one most profitable
ways that I've been able to generate an
income online it's great especially when
you're just starting out because you
don't need to spend the time to create
those products and a lot of the stuff is
already there in the market that you can
sell and recommend to your audience now
there's a lot of rules and things that
kind of go into that so make sure to
check out the links below in the
description which relate to some other
content that can help you relate to
affiliate marketing if you want to learn
more about that now it's really cool as
a podcaster you can do a few things for
example if you are selling and
recommending another person's product
invite that person on your show have
them talk about how they built that
product have them build a relationship
with your listeners that way the sell is
not even to feel like a sell at all it
just becomes a natural progression after
listening to the episode a good example
of this is when I interviewed the
founder and creator of convertkit an
email service provider that I use and
recommend and full disclosure I'm also
an advisor for the company now but I
interviewed Nathan I talked about his
origin story about how he created this
product and I did see a noticeable bump
in affiliate sales for convertkit after
that episode came out and I still
referenced it today
number 4 coaching now the beauty of a
podcast is that through your voice
you're able to build a relationship with
those who are listening on the other end
and if you offer coaching services
you're more likely to convert that
person because they kind of already know
you they know what kinds of things you
have to offer what your vibe is like and
if you offer any coaching services and
they like you well it's gonna be a good
fit for example Ben Greenfield from the
Ben Greenfield fitness podcast on this
podcast where Ben talks about things
like digestion biohacking lifestyle
nutrition recovery all kinds of things
related to our health he also shares
that he has a fitness and coaching
program because you get to know Ben on
his show and you like what he has to say
well if you need the coaching you're
more likely to actually work with him
fitness coaches lifestyle coaches
financial coaches coaches of all kinds
can benefit from having a podcast and if
you
actually just offer your services on
your show you can actually see some
conversions number five similar because
it's kind of a service let's talk about
consulting so instead of coaching a
person and helping them through some
tough times or you know helping them
wrap their brain around something
perhaps you're actually offering a
service to accomplish something for
example Rob and Kari from the Disney
travel secrets podcast Rob and Kari are
actually two students of mine in my
power a podcasting course and the
podcast is great because it allows them
to again build a relationship with their
listeners but also it helps their
listeners want to work with them to help
fulfill their Disney dreams with
building their dream vacation and
seriously if you want to know the
secrets related to Disney and how to
have a great vacation definitely check
out Disney travel secrets with Rodham
Karim number six selling your own books
now yes this does crossover with a lot
of what we've already talked about books
can be digital obviously books can lead
to consulting gigs and coaching gigs but
more importantly the sale of the book
itself in happen as a result of your
podcast what's cool too is you could
actually as you are writing your book
use your podcast to help people
understand that this book is coming out
to create buzz for it to show people to
progress as you then build buzz to that
launch date there are a lot of examples
of authors utilizing podcast to help
sell their books as well so a lot of
examples of people being a guest on
other people shows to sell their books
but one person I want to highlight is
how Elrod who wrote the miracle morning
in his podcast achieve your goals for
one it helps people discover his book
who discovered his podcast first and it
also helps people who discover his book
first find his podcast and build an even
deeper relationship with him two there
are no hard sales in his podcast which
is great it just becomes a natural part
of the conversation because that's what
he's known for his book miracle morning
and the tens of thousands of lives that
he's changed number seven public
speaking a podcast is an amazing digital
stage that allows you to launch yourself
into a potential physical stage I've
actually been recruited myself to speak
on stage as a result of my podcast which
is really cool too if it comes a part of
your offering the fact that you
mentioned hey guys you can actually have
me on stage too if you want well you can
be like Marc Maron from the WTF podcast
I've personally seen Marc on stage
before at different events I've been at
and he's awesome he's so funny and
what's really cool he's super
down-to-earth too now I don't know how
much he makes from these speaking
opportunities again as a result of his
podcast but I would care to guess that
it's in the five figure range somewhere
maybe and that's a pretty lucrative day
so if you want to start public speaking
you already have a podcast Walt
mentioned that you do that every once in
a while maybe you do an episode related
to some events that you've been to in
fact that yeah this is something you
want to do that alone can help plant
that seed for people to come to you and
say hey you want to speak at my stage
number eight putting on your own events
when you build your tribe with your
podcast which can and will happen if you
give it enough time they will want to
meet each other and you as well and you
can create some amazing events as a
result of the tribe that you build the
way a person consumes the podcast is is
very much like how a person consumes a
show they become a fan of the show and
they want to get more involved with that
show and one particular show that
actually had a podcast to go along with
it is the Walker stalker podcast a fan
show that was dedicated to the show
Walking Dead on AMC I actually featured
the two hosts of the Walker stalker
podcast on my show in episode 247 of the
smart passive income podcast and their
story is amazing as a result of starting
their podcast again just a fan podcast
between two guys who love The Walking
Dead they were able to get some of the
celebrities onto their podcast and as a
result of that they were able to start
putting on conventions not just little
events with you know a few hundred
people but literally tens of thousands
of people come out now and they have
multiple events every single year the
big event is in Atlanta where the film
is where the show is filmed and tens of
thousands of people show up all the
celebrities come out people line up to
get autographs I know because guess what
I've been to these events before too
with my wife here's a picture of me with
a couple of the stars from the show this
is the characters Darrell and Meegan
from The Walking Dead and it was just
such a cool experience to go and hang
out with the crew there but anyway to go
back to the story here podcasting can be
a great way to build a community bring
them together in an event like fashion
just like Eric and James did with the
Walker stalker con number 9 patreon
patreon is a service tool application
this thing that exists it's pretty
awesome because what it does is it
allows your fans to pledge to yes they
want to support you for the work that
you do so just imagine you have a
podcast and you say hey guys if you want
to support the show just pledge one
dollar per episode we come out with one
Episode a week that's all you got to do
so think about that one episode per week
four episodes a month four dollars
times a thousand times ten thousand
times however many listeners you have
who are a fan of what you do you can see
this can scale and be quite profitable
to take for example the hosts of the
daily tech news show a podcast hosted by
Tom Merritt which has nearly 5000
backers which total twenty thousand
dollars plus a month just through his
fans I also interview both jack conte
and Tom Mara on episode 188 of the smart
passive income podcast links below now
if you choose to set up an account with
patreon you know there's gonna be some
people in your audience already likely
who will be huge fans who will just
support you anyway without any further
incentive needed now it's best practice
to have some other bonuses and other
items that are unlocked when a person
becomes a patreon so just think about
what those things might be before you
get involved with setting up an account
so those are nine ways to generate an
income in addition to advertising and
sponsorships so if you feel you're stuck
in the advertising and sponsorship wheel
or perhaps you want to get involved with
making money on your podcast but just
don't want to go down that route or
maybe even don't have enough people who
are following you or big enough audience
well guess what you have a great
opportunity to potentially make even
more money through these other methods
and hey if you like this video thank you
so much I appreciate it click on the
like button and also share this I think
a lot of people would also love to know
how to generate an income through their
podcast - and by the way if you haven't
yet gotten started with a podcast make
sure to check out how to start a podcast
com that's my free how to start a
podcast in three days a mini course
we'll just walk you through the process
in just three days house start a podcast
calm again thank you so much for
watching this video and before you go
leave a comment really quick I'd love to
know what podcasts you're listening to
so leave a comment below I'm interested
to find out thanks so much and we'll see
you the next video