If your website was designed using WordPress templates, it will have a blogging element that you may or may not be taking advantage of, it is called Podcast.
There are many different ways that you can take advantage of the blog section of a WordPress site, and not all of them actually have to do with blogging.
These sections of the site allow you to chronologically update your website with content and to provide that content in many different forms, combined with social media buttons and other features that make the blog section of your site absolutely outstanding for search engine optimization purposes.
Let us see how you can make good use of podcasts in your blog or website. Look out of these points.
- What is a Podcast
- Types of Podcasts
- How to Monetize your Podcast
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What is a Podcast
A podcast is a form of audio broadcasting on the web. It can be listened to on the go while commuting to the office or even while working. It’s a content medium that doesn’t require all of your target audience’s attention like a video or a blog post.
Podcasting is high in demand. According to Edison Research and Triton Digital, podcast listening has been on the rise every year.
As more people and more people tune into podcasts, more business owners are going to start seeing their potential. So, if you’ve been wondering how to start a podcast, you’re first going to need to decide what type of podcast you’ll create.
Types of Podcasts
The Solo Podcast
If you have been wondering how to start a podcast, this might be one of the best podcast formats for you. These podcasts are typically presented as a monologue, with one individual (you) who runs the show.
The content for solo podcasts can be opinion-based, news-related, a Q/A, or any other style that can be delivered by one person. From a technical standpoint, this is an easy podcast to produce because all you need is your voice, to know how to record a podcast, and a subject to talk about.
Smart Passive Income by Pat Flynn is a great example of this format. He mixes inspiration and instruction as he breaks down different ways to market your online business and stay ahead of the curve as an e-commerce entrepreneur. He discusses his own personal experiments and their results to help listeners build their own passive income businesses.
The Multi-Host Podcast
This form of podcasting has two or more hosts, which can be more dynamic than a solo show. If you’ve been researching how to start a podcast and you have a business partner, this could be a fantastic option for you.
Multi-host podcasts offer discussions that have different opinions and perspectives, which can bring more entertainment value for listeners who like to hear conversations and debates instead of a single person talking. For the creators, it also creates less pressure to keep the audience engaged and interested, since there are more people and more ideas.
One of the best e-commerce podcasts in this format is The Fizzle Show. It’s co-hosted by three friends, Caleb Wojcik, Corbett Barr and Chase Reeves, who give out practical business advice on growing a profitable business.
The Interview Podcast
This podcast style is where one or two hosts interview different guests on each episode. This is a popular format because it doesn’t always require a lot of groundwork.
Preparation usually includes researching your interviewee and coming up with a list of questions to ask. Of course, you’ll need some soft skills to start this podcast type, like convincing guests to participate, interviewing skills, and being able to produce podcast episodes regularly.
Andrew Youderian, founder of eCommerceFuel hosts an informative podcast that does a great job of interviewing popular e-commerce experts.
With all the types of podcasts mentioned above, you should already have an idea of how to work around a podcast. How we are going to discuss how you can actually make money from your podcast.
How to Monetize your Podcast
Increase the sales of your products and services
Before running after sponsors, take a look at the products and services your business is selling already. Is your product relevant to the people who tune in to your show episode after episode, week after week? If the answer is yes, think of ways you can strategically leverage your podcast to increase sales.
An exclusive discount for your audience could contribute to an increase in sales. Remember, your being in your listeners’ earbuds is a powerful way to build authority and reinforce the “know, like and trust” factor. You’re building that factor with your show, so don’t be afraid to promote your products and services or offer exclusive discounts, assuming they are relevant to your audience.
Start looking at your show in a more strategic way and think of it as a marketing tool that can help you turn listeners into subscribers, and turn prospects into paying customers.
Podcast sponsorships
Popular podcasts like Entrepreneur on Fire, The Art of Charm and the $100 MBA Show generate thousands of dollars — each month — through sponsorships. With the CPM (cost per impression) model, your show will get:
• $18 per 1,000 downloads for a 15–second pre–roll
• $25 per 1,000 downloads for a 60–second mid–roll slot
If your podcast gets 3,000 downloads per episode, you’ll get $54 for a 15–second pre–roll and $75 for a mid–roll slot.
“This could help cover some of your podcasting costs,” says Yann Ilunga, organizer of the Podcast Success Summit, the largest digital conference about podcasting. “New podcasters in particular focus on downloads and landing sponsors, but there are different ways to profit from a podcast — even if you have a “small audience.”
Books and audiobooks
As a podcaster, you spend hours creating high-value content, which you give away for free. People tune in, get advice and have the option of applying it to their business.
Who says that you can’t apply repurposed content to your podcast to make money?
Hack the Entrepreneurhost Jon Nastor is a great example of a podcaster who repurposed part of his content and created a product people pay for: a book. To write his book, he simply took some takeaways from the interviews he hosted on that podcast and combined them with brand new content.
Not that everybody is a writer, and writing a book may not be your thing. But, what about audiobooks? “As podcasters craft their art, they become better communicators and better storytellers,” says narrator and audiobook creation expert Krystal Wascher. “Why not take your recording skills and create an audiobook? You probably have content and know-how to record. It’s a no-brainer, really.”
Affiliate marketing
Affiliate marketing is an option to consider, especially if your show is rather technical and often features you mentioning resources. “During a recent interview The Audacity to Podcast host Daniel J. Lewis shared the fact that affiliate commissions allow him to generate a good income from his podcast,” Ilunga recalled.
In all likelihood, most of your own podcast content is evergreen. This means that the information you shared yesterday is still relevant today and will be relevant over the next months and years.
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This means that, as your show grows, you could potentially generate passive income — through affiliate marketing — by podcasting.
Virtual summits
Podcasts and relationships can also turn into a monetary business opportunity, in the form of virtual summits. Navid Moazzez, founder of The Branding Summit, and Yann Ilunga with his Podcast Success Summit are examples of podcasters who leveraged their shows to build relationships and then used those to put together world-leading digital conferences.
For example, with the Branding Summit, Moazzez generated $20,000 in sales and increased his email list by 3,000 subscribers.
Adds Llung: “Are you a podcaster who would like to organize the largest virtual summit in your industry? Tap into the connections you made through your podcast — that’s how I did it, and managed to put together an event that features over 80 expert speakers. I leveraged the relationships I had built through interviews for my podcast.”
With all the information above, you should be able to try your hands out on podcasts. The earning potential are endless especially if you are ready to put in the work.
