Getting Started Monetizing Your Show (Even Before Launch!)

There is this idea that you need a certain amount of downloads to monetize your show. And sure, that does help especially if you are going after the “bigger money” with for example bigger sponsors. However, I believe that if you have a win-win-win situation for you, your listeners, and your sponsors (or a win for your products, etc.) then you can start at any stage — including before you launch!

So, if you are looking to start making money before your show launches, continue reading for tips to help get you set up for success.

Make a plan

As you are setting up your podcast you will want to make a plan on how your podcast fits into not only your potential listeners needs but your monetization needs as well.

1. Identify Your Niche/Target Audience

First, you will want to start by identifying your target audience/who your listeners are. Knowing who your show will be talking to will make it much easier to not only create content that your listeners want but this will help you know how to cater your content for monetizing that gets them excited to buy. Here are some tips for gathering that information:

• If you already have an audience somewhere that plans to tune in, create a survey to get an idea of what they are looking for in content, their preferences, and more about them as people to help you start understanding who your audience is.
• Also, do some market research and design an audience persona. Ask people who you think would be interested in listening to the show what their thoughts are, ask friends, or even family. Go look at similar audiences in your niche (doesn’t have to be just podcasting) — see what questions, thoughts, and concerns come up in those social channels or communities to start gathering some ideas. As you gather this research start creating your “person” so you know exactly who you are marketing to.
• Following that, look at other shows that are similar to yours or have similar listeners that you are looking to attract. This can help give you an idea of what resonates and doesn’t. Plus, you can start seeing areas where there are gaps that you need to fill — you want to stand out, not look like every other show that is already in that niche.

2. Get your branding down

Next, as you are making your plan you are going to want to get your branding down. This will help listeners and potential listeners remember you. Especially if you already have a business and are planning on using your podcast as an extensive of it. You want them to affiliate your podcast and business together.

Some areas to think about to help with your branding -

• The name (think about keywords and making it unique)
• Creating stand-out cover art (It’s a small space so use relevant photos, colors, and keep the text clear and concise).
• The music you use for your intro or ad breaks (what tone are you looking to send and think about creating unique audio specific for you.)

Choose how you want to monetize

After you’ve figured out who you are talking to and what your podcast is going to look like. Start thinking about how you want to monetize your show. There are many different money-making options but here are some to consider:

• Sponsorships
• Affiliate marketing
• Your products/services
• Listener support (examples: Patreon and donations)

Figure out what model is aligned with your content and audience. If you feel like you have a very specific niche and already have sponsor ideas, then make a plan to reach out! If you feel affiliate links or beginning to market your products/services fit, then do that. Not everyone’s podcasting journey is the same, so do what works for you and your audience.

You won’t know until you try!

Get your monetization set up

Now that you’ve made your plan and figured out how you are going to want to make money. Get your monetization set up.

So, if you want to get sponsors, it’s time to set up your plan to reach out.

• Create your email pitch and create a media kit. You’ll want to make your pitches personal and show why you would be the best fit for THEM. Plus, here are additional tips for creating a media kit!
• Make your sponsorship plan. Start doing your research on who you are going to reach out to — look for ones who would make a good fit. Even look locally or at “smaller” brands. It may not be as much pay as some, but it’s a great way to start making money and learn the sponsorship process.
• Then begin sending your pitches!

If you are doing affiliates, this is a great time to apply to those if they have a submission process and figure out how you are going to promote them within your episodes.

And if you are planning on promoting your products and services this is a great time to start recording those ads! Make them interesting, fun, and don’t forget to be yourself!

Begin Promoting Your Show!

You’ve got all the basics ready with your podcast and set up how you're going to monetize (you may have even gotten some yeses from sponsors by now)! It’s time to begin promoting your show, you want to start getting your target audience engaged and create the hype for your show.

Some strategies to help get your new community-engaged:

• Start posting on social media and getting buzz for the upcoming launch
• Guest on other podcasts and when it’s appropriate promote the launch of your show!
• As you begin recording episodes, share teasers!
• If your audience hangs out in a certain place, even if it’s in person, start spreading the word there that you have a show coming.

Getting the excitement going can help bring other people in and show sponsors that people are interested!

Let’s get this party started!

Whether you’re just starting your show or are in the early stages of it, these tips will help you get started making money from the get-go. Plus, the sooner you start the more your listeners will be used to ads or some selling within your show.

Of course, you love sharing your voice and knowledge on your topic but being paid for that can make it all the sweeter. So, getting started sooner rather than later will help start you on that path of making money in no time.

Aleea