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Welcome to the Podcast Answers Podcast. If you have never joined us before, we help

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people start and grow their podcasts answering questions about podcasting along the way.

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And so if you have any questions that you want answered, please comment right here in

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the video where you're watching or go to podcastanswers.com slash contact and you can ask me a question

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about podcasting. I love talking about podcasting. I love that's why I started this podcast and

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I love just being able to talk to people about that. So without further ado, let's get into

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our topic today, which is how to make money at your podcast. And what I'm going to say

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is going to sound a little bit controversial right now, but there is no money in podcasting.

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Yes, you can get paid, but if you do that, it's going to come later. Do it for fun now.

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Don't stress out about growing so big to get your sponsors. Start your podcast, start it

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small. Even for me, this podcast started small and I've been doing podcasts since 2007. And

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I just started this one and it's still, I mean, it's growing, but it's definitely not

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numbers to get sponsors right now. So don't stress out about getting so big that you need

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to get sponsors. I mean, you're not Joe Rogan, right? I mean, even he was famous for something

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else first, you know, as the famous Doc Rock said on the flow podcast, you know, Joe Rogan,

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you are not Joe Rogan and he was even famous for something earlier before he did his Joe

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Rogan experience podcast. So yes, there is money in podcasting and we're going to talk

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about how you can make some money, but you're not going to get rich at podcasting, especially

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right out of the gate, especially as you start your podcast right now, you are not going

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to get rich at that. So now what you first thing you need to come down and decide is

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what is the point of your podcast? What is the purpose of your podcast? Is it to have

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fun? Is it to make money? Is it to drive people to buy your products? All of those things

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are good and all of those things can be purposes for your podcast and they can all, it can

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all be, all of those purposes can be why you're podcasting, but you need to sit down and decide

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what is the purpose of your podcast. And for me, it's a little bit of having, having fun.

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I love podcasting. I love being able to get out there and talk about the things that I

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love to talk about. And so for me, it's, it's, it's having fun. For me, it's hopefully at

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some point I can make money. I do release episodes of these early, a week early for everybody.

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And so you can become a plus member and you know, do that in Apple podcasts or in buy

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me a coffee and you can get those episodes that I make of this podcast early. And that

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makes me a little bit of money. It also, for me, the other last thing that I'm hoping

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for is to drive people to buy my products. And while I don't actually have a product

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per se, I do help people along the way. I'm available for one-on-one consulting and that

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does come at a cost. So it is a product. And that's the goal of this podcast. This is one

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of the goals of this podcast is to help drive people towards my one-on-one podcast consulting

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as well as, you know, just giving away some free information because I like giving my

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information away free. But I also know that some people aren't going to be the ones that

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sit down and listen to a hundred podcast episodes or a hundred YouTube videos. They're going

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to want to just ask somebody point blank. Here's, here's what I want to do. Can you

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help me do it? And I'm available for that podcastasters.com slash contact. But you need

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to decide what the, what's the purpose of your podcast is. And, and so one of the things

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to, so then if you do decide you want to get sponsors, one thing to note that usually you

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have to have around 1000 downloads per episode before you can even get ads from ad agencies.

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So a lot of podcasts hosts are willing to add, you know, adds the advertisements into

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your podcast, but usually the cost, you either need to have a thousand downloads per episode

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or the cost is based on 1000 downloads per episode. And that's usually like $25 per,

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you know, 25, 23, that's kind of the going rate right now per 1000 downloads episodes.

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So you may not be making a lot of money off of your show unless you have tens of thousands

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of listeners, which you could just right at first, you're not going to have that. And

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so you don't, don't expect to get ad agencies right at first. So, but there are some ways

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to go about getting some money and getting some sponsors for your show. One of the best

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things that you can do is do a trade. If you know of somebody who has like a business,

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but it doesn't have unnecessarily a budget or there's, you know, a small bit, small business,

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but want to do some advertising, you can do a trade. You run an ad for them and their

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business in your podcast in exchange for some promotion in their, in their business, you

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know, for your podcast. So for instance, we, you know, you can go to your local barber

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or local, whatever, somebody that, you know, that you, you know, you go to their shop,

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you experience their shop, you buy things from them and see if they're willing to do

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a trade with you. That may be putting up a poster in your, in their shop for your podcast

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in exchange for a 10 second ad or this episode is sponsored by XYZ. That's probably one of

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the best ways, especially if you don't have a big marketing budget, they don't have a

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big marketing budget. And that's a good way to exchange and get some ads. If you have

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ads in your podcast, that's kind of proof of social, social proof, excuse me, which

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basically means that people are going to hear ads in your podcast and those are, they're

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going to be more willing to, to invest in your podcast because if you don't have any

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podcasts with advertising in them, they're going to say, Hey, you know, how much is your,

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how much is your podcast? You know, how much do I cost me to advertise? How many other

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businesses, what, you know, what, how much, how much have they paid? Things like that.

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And you're going to say, I don't have any people that, that have paid. I don't have

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any podcasts advertisers. And so if you can do the trade like this, that's going to help

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you because you're going to be able to say, no, hey, look, no, this person's sponsored.

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They don't have to tell them it was a, it was a exchange for, for them. You can just

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say, no, this person wasn't advertiser on our podcast. The other thing that you can

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do is go to local businesses that you know and ask them to support you. This works especially

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well. Again, if you know the people that are running the businesses, but up even that,

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if you know people that have small, medium sized businesses that are local to your area,

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you can go to them and say, Hey, I have this podcast on whatever. And I think that you'd

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be a great fit. And here's why. Now, again, you're not going to want to maybe necessarily

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advertise in have, they're not going to want to advertise with you. If it's you're completely

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different fit lows, let's say you're talking about a barbershop topics and you go to a

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shop that sells bananas, they're probably not going to want to advertise with you.

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But if it's just a generic podcast or a podcast that could be about any topics, it's really

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easy to go in and I could even with this podcast go to someone local and say, Hey, I'm trying

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to help people, especially local people, start podcasts. And I would love to get your business

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and I would love to be able to advertise for you and your barbershop and you can then get

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some more people coming in from that. People will hear it. It doesn't have to be a very

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expensive ad slot. I mean, you can start making money, $5 a month, $10 a month, whatever you

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can make and you can say, you know, or per episode. So let's say you do four episodes

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a month and you're charging $5 an episode. That's 20 bucks that you're making right

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there that you didn't have before. Now it's not going to pay your mortgage and podcasting

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for the most people isn't going to pay their mortgage, but it could allow them to invest

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in new equipment. It could allow them to have date money to go on a date with their spouse

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or significant other. So those are a couple of different ways on how you can get sponsors

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to your show. And other ways that you can make money on your show that don't include

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sponsors and advertisements or is what's called value for value. And this is something

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in the podcasting 2.0 EgoSphere where people say, I'm willing to give you back this much

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value because I'm getting this much value out of your show. And that could come into

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the buy me a coffee. I mean, that's what I'm doing essentially with buy me a coffee. People

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are saying, you know, people can say, I want to sponsor you. I mean, I do have levels per

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month that they can pay, but people can also go in there, buy me a coffee.com slash podcast

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answers. And they can say, I want to sponsor you. I want to give you support, you know,

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$40 a support or $100 of support or $300 of support, whatever they think that my podcast

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is worth to them. They can go and give that money back to me. That's value for value again.

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They're getting value out of the content that you're producing with your podcast. And then

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they want to put it back in. They want to give that value back. And if you limit that

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to say you have to pay $5 a month and then you get early episodes, which again, not a

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bad thing. I'm doing that, right? I'm doing that. But don't value for value in and of

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itself is not limited. You need to have a way for people to give however much they want.

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And so again, buy me a coffee is good at that because yes, I do have levels, you know, $5

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whatever, you know, a month or going up from there. But buy me a coffee also allows you

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to say, I just want to spend $100 on this producer, on this content producer. And so

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you're not limiting it because it may be worth $100. Your episode may be worth $100

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to them. You may have given them this huge, great idea. And if you're saying, you know,

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you can come in here and just become a $5 a month sponsor, you're limiting it yourself.

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People will give you money for what they feel your show is worth. And value for value is

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not necessarily just money. That can include time, talent or treasure. So people may give

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back to your show. They may, if they're great at artists, you know, become if they're an

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artist, a digital artist, they may create you digital art. And I've had that happen for

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my show, one of my shows that I've had before, someone came in and said, Hey, I'm an artist

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that I want to do some cover art. And they did. And to this day, there's a derivative

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of that, that artwork that's still on that podcast. And there's so people can come in

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with their talent, because you know, they may be good at doing voiceovers, they may be

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good at creating something that you didn't even know you needed. And they want to give

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that back to you. Or they're also people may have their time, you know, they may volunteer

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to to count your episodes or organize your episodes or something that necessarily is

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just something anyone can do, but they're willing to spend that that time, they're willing

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to give their time back to you because they feel like what you have given them is a great

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deal. So don't don't count out value for value and like booster grams and booster grams are

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something with streaming streaming Satoshi's new podcast apps can do that, you know, where

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they can, as they're listening, they can give small amounts of Satoshi back to Bitcoin back

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to you, as well as sending a message and boosting again, however much they want to get a message

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back to you. And I've seen it, lots of people who have never had any engagement on their

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show. All of a sudden, people are sending in multiple booster grams per week, just because

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they want to get their, their, their content heard, they want to get their comment heard.

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And so they send these booster grams in, and they're showing value, they're doing actually

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value for value in two different ways because they're not only giving their treasure to you,

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but they're also giving their time and commenting back to the show. They're actually giving

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you value to make for your show. So it's great because that, that system allows them to listen

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to something you said, whether they agree or not, give you money back and then actually

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be part of the show again and give you more content to put on your show.

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Now, again, we talked about having to have lots of episodes, you know, don't stress out

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about the amount of people that are listening to your show. But if you do want to grow your

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show, some of the ways that you can do that are buying ads on, you know, Facebook or Instagram

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or Twitter or wherever. Now you can limit those to a certain area and that will give

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you some, some people that'll get people that click like on your Facebook. So you see more

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of your things may not be the best investment, but it does allow people to see you and you

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can target those and it's fairly cheap to do that. You can target those ads based on

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what you want. So you can say people who, you know, for me, I could say people who like

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podcasts, people who are into digital producing things, people who are, you know, I could

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limit it to people who are, you know, 20 to 40 or, you know, so I'm not getting people

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that are younger like in high school. If I wanted to, I mean, I do, I want to help people

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no matter what their age is, but you can limit that to be whatever you want it to. Now some

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other ways to do this is to get your promotion to increase your listeners and followers are

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getting business cards. Business cards are super cheap. I mean, you can get 100 business

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cards for $20 on Canva and it's super simple to design a business card on Canva. I've done

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that and so you can get 100 business cards for $20, not again, not a lot and you can

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go around and put them in all your local shops. So, you know, I've been in Jimmy John's and

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there's a Bolton board in Jimmy John's and there's a Bolton board in your local coffee

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shop and there's a Bolton board in a lot of different places that people are exchanging

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their business cards. This is a great idea, especially to get people local to know your

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content. Now, again, that's not necessarily going to be global, but I've passed out business

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cards lots of different places. I've been driving and I pass out business cards when

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I go to a rest stop or wherever there's a place for me to put a business card. I go

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ahead and do that because it is something that people want to see. I mean, people, you

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never know where you might come up with new listeners at. And so, you can put things on

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the, some of the things that I like on the back of the business card is a QR code to

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either the website link or a specific episode. If you have an episode that has like a really

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huge guest on it, you can have a QR code that goes right to that episode. You can, you know,

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you want to do that. You want to put a link on it to your website. You may want to put

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your cover art too, so people know what they're looking at and it might be good to have like

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a play pause button around it. So, it kind of looks like a iPod or a podcast player of

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some sort. And then your show description. So, when they're looking at it, they're going

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to go, oh, that's the cover art for when I, when I search for this podcast. So, it's

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going to be a show name, your cover art in a little bit of your description. And if your

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description is written right, people are going to know what your podcast is about. And then,

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you may want to also put logos to some podcast apps like Apple Podcasts, Spotify, YouTube,

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if you're doing video on YouTube, things like that, because that way when people see it,

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they know, oh, it's a podcast. And that's why I would also do something with like a play

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pause button around your cover art, just to kind of make it a little bit more descriptive

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that that is a podcast and that is something that they can listen to. Now, one of the other

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ways that you can do this too, to help grow your show is becoming a member of Facebook

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groups that deal with topics that you cover. Now, you have to be a little bit careful with

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this because you can't just go in and promote your content. Like, you can't become a group,

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you know, join a group of podcasts people, in my case, and just start promoting your

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content. Hey, I do this podcast episode, come listen to my podcast. People are going to

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ban you from their podcast groups because they don't like spam. But one of the ways

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that you can do that is be helpful. Go in there, start answering people's questions,

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you know, and this doesn't have to be on podcasts. I mean, just that's what I'm thinking of because

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this is a podcast app or podcast about podcasting. But you can go in there and you can be super

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helpful. And just if people have questions about a product or something, just be super

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helpful about it. Be helpful, be helpful, be helpful, be helpful. And then maybe you

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have an episode on a specific topic that they're asking. So once you've established yourself

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as somebody who's helpful in that group, so you don't get kicked out right away, then

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maybe you can start like gently promoting things. And when I mean that, you can say

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things like, Hey, you know, this is a great question. Here's, you know, here's the answer

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to your question. But if you want to hear more about that, I have a full episode of a podcast

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about that and link directly to that, that episode. And that people are going to be more

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likely to let that go because you're not necessarily going to be self promoting. I mean, yes, you

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are promoting your thing, but you're also being super helpful. You've, you have a track record

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of being helpful in that group. And then you, you are going in and answering a specific

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question. You're not going to go in and just say randomly, Hey, I have a podcast about

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podcasting, but you're asked, you're answering a specific question in that group. And then

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maybe linking to your content because you can say, Hey, I've answered this question,

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but I have a better, a more fuller episode on that that you can go out and listen to

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right away. So guys, I hope that you really find that helpful. If you did, go ahead and

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make sure you like and subscribe to our podcast. We're on all the podcasts players as well

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as YouTube and a lot of social medias. So if you're on YouTube, Facebook, Twitter, Instagram,

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we're on all of those places. Just look at that podcast answers is our name for almost

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everything besides Twitter on Twitter. It's podcast answers one just because they didn't

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have that, but I hope that you find this episode super helpful. If you have any questions about

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this again, I am available for one-on-one consulting and I would love to answer your

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questions about podcasting. You can ask a question at podcast answers.com slash contact.

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And again, we love to get you in and we'd love to answer your questions as well as I'm

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available for one-on-one consulting and can help you personally do this thing. So thanks

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guys. Have a great week.