There comes a time in every creator’s life when a project, campaign, or business feels so successful that they begin to think, “Maybe I can make money off of this!”
To those ambitious folks, we say, ”Welcome to the highs and lows of podcast monetization!”
Here’s a short list of the most effective income-generating strategies being used by audio creators today, in increasing order of complexity with respect to setup and management. And most importantly, when we recommend you implement each monetization strategy.
“Buy Me A Coffee”
A simple and friendly donation button linked to a payment service like Venmo, CashApp, or PayPal, located at a visible part of your project page, platform, or website, is an excellent way to encourage an appreciative audience to donate to you without a long-term commitment. You’ll be amazed at how many people are happy to send you funds so you can keep doing the good work you’ve been doing.
Recordical Recommends: Roll this out right at launch – or right now, if your project has already launched. Small donations are an excellent motivator, and take only a few minutes to set up.
Referrals and affiliate marketing
If your project is a natural fit for selling complementary products or services, then affiliate marketing is a strong monetization strategy for you. Setting up an affiliate revenue stream is much simpler than most people imagine it to be. The hardest part entails vetting retailers or sponsor brands to ensure they align with your and your listeners’ values. Once that’s done, you can work through these broad steps:
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