3 Ways to Make Money with Podcasting in 2021. You’ll be shocked with #3.
Our industry analysts have crafted this financial freedom podcasting guide to help show you three ways to make money with podcasting. In this guide, you’ll also learn need-to-know industry insights and tips to help you get started. Before diving in, you should know that these podcasting money-making opportunities aren’t rated in any particular order; therefore, gravitate towards the one most relevant to you.
1. Affiliate Marketing
Your relevancy as a podcaster and your content’s value dictate your ability to pull off affiliate marketing with podcasting. What we mean is that the content you produced yesterday is still going to be relevant a few months to a year down the road—thereby, in a sense, creating an evergreen funnel of content creation and affiliate marketing. The key is to connect with industry leaders and strike up a long-standing partnership by producing content to take that business (and yours) to the next level.
2. Mentorship
Providing mentoring or a form of online coaching is a great way to share your wisdom with aspiring podcasters and content creators. Consider offering a free 30 to 60 minutes session, course, or webinar to facilitate trust. Don’t be short with it, though. Provide as much depth and value as you would with any other part of your mentoring program, and you can convert the masses.
3. Virtual (Remote) Summits
That’s right! Virtual summits are booming! Bear in mind, however, that this option is for elite podcasters (don’t worry, you’ll be there soon enough). Apart from the invaluable networking opportunity that stems from virtual summits, it also presents a unique monetary opportunity that can be approached in a few ways:
- Front-End – It is not uncommon for remote summits to have a frontend fee, but it is becoming rarer with the benefits of back-end and sponsorships.
- Back-End – This route is not concerned with monetary gain (at least not upfront) but rather through long-term partnerships that can yield long-term profitability for all parties.
- Sponsorship – Remote summits provide access to digital sponsorship opportunities. Reach out to industry vendors and companies well beforehand to have ample time for bidding. You don’t need to worry about finances or covering the time, resources, and content required to put the summit into action with sponsorships.
The Recap
Podcasting is an emerging industry exploding in worldwide popularity. What makes podcasting such an attractive opportunity in 2021 would be how it is a boundless industry. So long as you have a message to share that resonates with viewers, adds value, and with a bit of luck, you can gain financial freedom through podcasting.
What are your thoughts on the future of podcasting? Please leave a comment if we missed a way to make money with podcasting.
