How To Make Money With Podcasting‏

First, I want to say creating your own online podcasts is an awesome hobby to have. You can be opinionated, express your own views, and capture an audience...WITHOUT anyone looking over your shoulder. Well, Mark Twain (i.e Samuel Clemens) once said, "the goal is to make your vocation your vacation." In other words: have fun and get paid doing it.

Let's explore how:

# 1 - Join a Network: Just like capitalizing on traffic from your traditional site or blog, there are companies specializing in monetizing your podcast audience. A company like PodTrac will, "match up your unique content with equally unique advertising from your audience." You can also check out networks like, Mevio or Wizard Media which specialize in the same thing.

# 2 - Build Up Sponsors: Instead of relying on a network to match advertisers with your audience...just do it yourself. It really doesn't matter what the subject is...there are sponsors willing to shell out good money to get in front of the right listeners. Here's a successful podcast I found called Pregtastic (they use Wizard Media).....hosted by pregnant woman; for pregnant woman. Folks, it can be done. This is probably an example of a larger niche market...just like e-books....as podcasting grows, there will be one for everything. If a company is willing to throw out an ad on radio to target a general audience, they would be more willing to do the same for a more targeted market.

# 3 - Everyone Loves Free Stuff: If you charge for podcasts...I guarantee, if visitors could get a free "sneek peek," just to wet their appetite...they would be more apt to join. Pick one week or unit a month and don't charge. Offer a test drive of the show. Give something away for free...a book, ipod, vacation (if you can afford it.) Then, let the visitor know you do the same thing on regular shows. Anything to entice listeners - even though your great content should do this.

# 4 - Just Flat Out Charge: You have the best podcast...and the world knows it. If this is true...dang it, make em pay. $19.95 / month, episode, year...it really doesn't matter. You got the goods? Charge an entry fee. I wouldn't use the DeBeers model of creating product scarcity...however, the key is to not undervalue and practically giving it away. Know your audience and find out how much they're willing to pay.

# 5 - When All Else Fails...Beg: Just like NPR and religious stations, ask for pledges and donations. You have to pay the bills right? Well, there's nothing better than making your users feel guilty. I wouldn't recommend doing this all the time. However,  set up a PayPal donate link and watch the money roll in. Give a compelling story about how your show alleviates world hunger or saves the whales and you'll be surprised how generous people can be. Just make sure you show really does those things. (Might wanna throw in a FTC disclaimer too.)