8 Proven Ways to Make Money with Podcast in 2020 (Ultimate Guide)

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You must have heard the word ‘Podcast’ recently, and people are making money with Podcasts. 

You must have heard it because it is so popular.

Do you know what podcasts are?

If you know, then it is very good. If you do not know, then I am telling you.

What is a Podcast?

A podcast is an episode or a series of spoken words.
A podcast is a digital audio file that users can download in their personal and portable devices to listen to later.

The Podcast is very popular in the world.

Today millions of people are making a lot of money through podcasts.

How to make a podcast:

how to make podcast?

Step1. Select a specific topic for your show.
Step2. Select your show title
Step3. Create a description for your podcast show.
Step4. Choose your podcast format.

  1. Interviews.
  2. Conversational.
  3. Educational.
  4. Solo casts.

Step5. Create images for a podcast show.
Step6. Audio recording software and equipment.

Best Audio recording software for making Podcast:

1. Audacity

Audacity is a powerful open-source audio editor and audio recording software for Windows, macOS, GNU, Linux, and other operating systems.

It records live sound and audio playback and convert music tapes and save them to CD or MP3.

The most powerful feature is the users can edit multiple audio formats like MP2, MP3, WAV, FLAC, AIFF, and users can change the pitch or speed of sound recording.

It is a great software for those looking for the best software to make a podcast.

2. Adobe Audition software.

Adobe audition is another audio recording and audio editing software.

The podcast maker, audio professionals, and musicians are using this software because of its advanced features.

It is a feature-rich software it reduces or removes background noise from recordings.

The users can use the frequency spectrum to identify imbalances in recorded audio and also use the control point to correct them easily.

For users, it is very easy to make modern podcasts and albums.

These are the best audio recording software for making podcasts.

Step7. Choose Podcast hosting like Buzzsprout or Captivate.

1. Buzzsprout.

Buzzsprout is used for making podcasts. It has everything that a podcaster needs to publish or promote a podcast.

It is very important to choose the right Podcast hosting to publish or promote podcasts.

You can manage multiple podcasts with unlimited team members. It integrates with the leading podcast tool..

2. Captivate.

Captivate was designed for Podcast.
It is one of the best Podcast hosting options for beginners or a professional podcaster.

You can create and host unlimited podcasts.
Captivate’s dashboard is well designed and easy to navigate.

It gives you 24 hours support during the week. All the plans of Captivate come with a mobile-friendly.

And it is easy to set up.

Making a podcast is very simple. But your recording equipment should be of very good quality.

These are the steps of how to make a podcast.

Benefits of Podcast.

  • You can’t see the video on podcasts, but only you can share information through your voice.
  • You can easily listen to information, and it is better than reading the document.

So these are the benefits of Podcast.

Different types of Podcast which are popular now:

Now comedy is the most popular type of Podcast. News, society, and culture is the second most popular type of Podcast. Then the third most popular type is sports, arts, business, and crime.

I think the monetization of Podcast is one of the best ways to make money with podcast.

Podcast monetization is the way of making money and here  are the different ways of monetizing a podcast.

What is Monetization?

Monetization is a process of earning money from a business.

And earning money with a podcast is a business.

Disclaimer: Please note that this post includes affiliate links that provide a commission to me. This is at no additional cost to you. If you sign up through our affiliate link, then we get a commission. For more information, you can read my Affiliate Disclosure.

So let’s start here is the list of how to make money with Podcast:

make money with podcast
  1. Podcast sponsorships.
  2. Affiliate marketing.
  3. Courses.
  4. Physical products.
  5. Sell consulting or coaching services 
  6. Host event.
  7. Sell your premium episodes.
  8. Sell yourself as a podcaster.

1. Podcast Sponsorship.

Sponsorship is an advertiser that pays money to a podcaster for promoting products and services or to increase brand awareness on podcast episodes.

So sponsors price and measure using CPM ( cost per mile ) or 
CPA ( cost per acquisition).

What is CPM ( cost per mile)?

CPM sponsors pay 1000 downloads or listeners per your Podcast

What is CPA ( cost per acquisition )?

CPA. This is the number of sales or sign-ups that businesses receive as a result of your advertising

The industry standards for podcast sponsorships:

CPM ( cost per mile ):
15 seconds pre-roll: $18 per 1000 downloads.
60 seconds mid-roll :$25 per 1000 downloads.
30 seconds post-roll: $18 per 1000 downloads.

CPA ( cost per acquisition):
$15 to $30 on each person that buys a product and services.

Now, most of the companies sponsor to the Podcast I increase their sales of products and services. The advertisers, podcast networks, Podcast hosting services can give you sponsorships.

Now the Good news is big brands like Squarespace and Ford they sponsor Podcast.

2. Affiliate Marketing.

Affiliate marketing is a great way to make money with Podcast.

Before we start discussing affiliate marketing with Podcast.
First, understand,

What is Affiliate Marketing?

Affiliate marketing is a process of earning a commission by promoting other people’s or a company’s products

I hope you have understood the meaning of affiliate marketing.

Now the question arises in your mind is How can I do affiliate marketing with Podcast?

So here you will get all the answers to your questions.

  • You can promote a product or service by using affiliate links in your Podcast.
  • Mention affiliate links in show notes.
  • You can promote your products and services.
  • Discuss with the product owner in your podcast show. A product owner will share all the pros of the product.

By promoting products or services, you can easily earn a 4% to 5% commission from each sale.

Nowadays, a lot of people doing affiliate marketing with Podcast.

3. Courses.

Today’s generation of online courses is in high demand.

In this online world, most people are now studying online, with money taking online courses from podcast shows.

Podcasting offers to the teachers and professional lecturers to make digital audio content in which people or students can listen anytime.

If you are providing courses online through podcasting. You can teach them in easy steps.

One of the biggest advantages of online courses with podcasts is that whoever takes courses can download the courses for later listening.

Students can easily listen to the audio for a longer time than watching videos or reading a course or book.

Through podcasts, students can listen to inspiring stories that will not bore them.

Teachers or lecturers have the biggest opportunity to create digital audio and sell them on Podcast.

If listeners like your courses through Podcast then they can purchase it at any cost.

So you can easily earn money through your podcasting only.

4. Physical products.

By creating and selling physical products, you can make money with Podcast.

If you know what your customers like and what they want, you can sell any of the products that are right for them.

Advising people to use these products, you can sell it.

For example, if you have written books and told on a podcast show about your books and a review and those books are not available on any market or online store. If you give discount offers, then not everyone but few customers will buy those books because you have built trust.

I am not telling you to write a book; it depends on you if you want to write, you can.

I have just given you an example that you, too, can make something and sell it. And by selling you can make money with podcast.

5. Sell consulting or coaching.

Consulting or coaching is similar, like providing services. But in consulting or coaching, you don’t do the work for them.

You can give coaching on life or marketing on a specific topic which you like or which your listeners want.

Through Podcast you can solve tough problems of your listeners.

Consultants can give advice through Podcast when their listeners want.

Coaching helps others to achieve his or her goals.

By doing both consulting and coaching, everyone can make money with Podcast.

There are differences between consulting and coaching, but both provide services.

There are many different types of coaches, like business coaches, wellness coaches, fitness coaches, career transition coaches, etc.

And different types of consultants like strategy consultants, management consultants, financial advisory consultants, IT consultants, etc.

These are the different types of consulting and coaching.

You can help and give them a guide to your listeners on a specific topic.

6. Host event.

You can make money with podcast by selling tickets in a live event.

The event host is inviting event guests and attendees.

In the event, your listeners will get a chance to see you.
In events, you can promote your products. Discussion of business ideas.

Hosting an event helps peoples to connect with your brand.
It can build relationships with people.

It benefits your organization.

7. Sell your Premium Episodes.

This is the easiest way of making money with Podcast. You know the people like your podcast show.

If they like your show, then they can pay for that show.

Now for earning money :
Create some premium podcast show. So you can sell it and make money with podcast.

Premium shows are different than the normal show.

If the premium show is like other normal shows, no one will pay for that show.

How can you create a premium podcast show :

  1. Questions and answers with special guests
  2. Interviews of a businessman.
  3. Live Streamed videos.

Give offers on your premium podcast show, so most of the people can purchase it.

You can charge $5 to $10 per month for a premium podcast show.

Make your show special by taking interviews with T.V actors, actresses.
And make money with podcast by selling premium shows.

8. Sell Your self as a podcaster.

If you are a good podcaster. You can tell a story on a podcast. You can ask questions and having knowledge about podcasting, and then you can sell yourself.

You have these skills like converting calls to action, voice talent, engaging a community. These are the required skills to become a good podcaster.

Develop your skills daily so you can become a good podcaster.

You can sell yourself because of your skills only.

If you have skills, then someone will buy you.

How much money do podcasts make?

The experience and most popular podcasts can earn over $50000 per episode. In the USA, the podcasts can earn between $80000 to $1000000 downloads per episode.

You can make money with podcast by doing podcasting jobs also. There are various places where you can find podcasting jobs like Linkedin and indeed.com. These are the two places where you can find podcasting jobs easily.

Finally conclusion:

Making money with Podcast is not as easy as people thinking about earning money; it takes time. If you started podcasting today, then after one year, you can earn passive income.

In this article, I have written the step-by-step process of making a podcast, the benefits of Podcast, monetization of podcasting, and earning through podcasting.

When your Podcast starts growing, and you have enough listeners and listeners, you will start getting offers from sponsors.

If you want to earn passive income, then read this full article How to make money with Podcast.

I hope you have enjoyed reading.

For any queries and questions, you can comment down, and I will help you.

FAQ(Frequently Ask Questions)

How much money can you make from a podcast?

The podcast starts to earn money from the instant . it reaches 1,000 listeners per episode. Podcasters who have big audience earn decent money. The most downloaded podcasts make over $100,000 a month. Earning plenty of cash from the podcast, however, isn’t straightforward and requires many conditions to be met, one in all which is diversifying sources of income of your podcast.

How to make money with podcasts?

8 ways to make money with podcasts :
1.Podcast sponsorships.
2.Affiliate marketing.
3.Courses.
4.Physical products.
5. Sell consulting or coaching services 
6.Host event.
7. Sell your premium episodes.
8. Sell yourself as a podcaster.

What is the best Audio recording software for making podcasts?

1. Audacity
Audacity is a powerful open-source audio editor and audio recording software for Windows, macOS, GNU, Linux, and other operating systems.It records live sound and audio playback and convert music tapes and save them to CD or MP3.
2. Adobe Audition software.
Adobe audition is another audio recording and audio editing software.The podcast maker, audio professionals, and musicians are using this software because of its advanced features.It is a feature-rich software it reduces or removes background noise from recordings.

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