When it comes to monetizing your podcast, there are some rules you need to observe--some of those rules you need to adhere to religiously while others can be adjusted according to how you deem fit.
If you have listened to a podcast, you've probably never heard a podcaster deliver an opening message along these lines, "Hi. We are (podcast show name) and we want you to listen to us because it brings in more cash via advertising!"
Without doubt, a spiel like that can be a massive turn-off for listeners. It will also do a good job of making them feel manipulated.
And no one likes to be manipulated.
If you want to bring in cash, there is one important thing you need to take into account. You need to be subtle. In other words, you need to promote the business in a way that is non-promotional.
So rather than shoving the merits of your show down your listener's throats, work instead on delivering high-quality content your clients and advertisers can appreciate. Be thorough. Don't think twice about going the extra mile if it can help your show stand out.
Eventually, brands will see the value of being associated with your show and will think of you first when it comes to their advertising needs. That's the beauty and power of being non-promotional.
Check out the competition and then ask yourself these questions:
"Is what I'm doing enough?"
"What do I need to do more to be successful?"
"As a listener, what would I want to hear?"
Since competition in the podcasting world is stiff, you need to figure out how you can entice people to listen. Once you get people to successfully give your show a try, turning them into loyal listeners becomes relatively easier.
Don't force your show on the audience. If anything, it will be counterproductive. Moreover, it will be a surefire way to have your listeners running out the door with their headphones on and unplugged.
Instead, be real and keep it real. The more interesting the story you tell and the the more authentic you are, the easier it will be for you to attract new and loyal listeners.
While there are a lot of smart people out there, there's also no shortage of people who lack common sense.
In the podcasting world, the latter comes in the form of podcasters who sell spots to companies who have zero relevance to their show and audience.
Imagine listening to a podcast about self-awareness and hearing a spot about automotive parts for sale. It just won't work and it makes it sound like the people behind the podcast just focuses mainly on making money instead of making their listeners happy. It comes out as both needy and desperate.
It would be safe to assume, listeners won't like it. Advertisers on the other hand will most likely feel the same way. Ads are to be approached as a form of art and not an assembly line of chaos and irrelevance.
And the biggest (and surprising) advice we can give you? Sometimes, you don't need podcast sponsors to make money!
Create a show that connects and targets a niche group. The more specific the niche, the more you will be able to understand the problems and the needs of that specific niche. As you establish yourself as an authority, you'll have more people trusting and believing in you and that can pave the way for more lucrative opportunities.
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