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t’s easy to buy a mic, share some stories, schedule a few interviews, and post it on the Internet, but that doesn’t guarantee anyone will be interested in what you have to say. With social media so oversaturated, it’s hard to stand out amongst a sea of creators.

But maybe, that doesn’t matter.

There is this misconception that you need a massive audience to generate income as a podcaster, one that has been repeated over and over again by the creators I’ve coached. Most feel frustrated to invest time and energy into something they love, only to see little or no financial return.

Sound familiar? If so, keep reading.

With years of experience helping creators monetize their shows, I've discovered some strategies that work for podcasts of all sizes. It’s not always easy, but it can be done. And once you understand that a highly engaged, niche audience is more valuable than a large but disinterested one, you can start building a content strategy that converts. 

So, how do you make money without a big audience?

Before you start thinking about making money, you need to understand what you’re doing and your podcast’s purpose. Know who you're speaking to and the value you’re providing.

• What problem does your podcast solve?
• Who is your audience?

“Getting listeners,” is a side-effect of keeping your audience engaged, so you should spend your time thinking strategically about how to do that.

Once you’ve nailed down your value, it’s time to choose a monetization strategy that best aligns with it. Below are five options to get you started.  

Leverage Affiliate Marketing

Affiliate marketing is one of the easiest and most accessible ways for podcast creators to start making money. The concept is simple: promote a product or service that aligns with your content and audience, and earn a commission on sales made through your referral link.

Pro Tip: The key to successful affiliate marketing is relevance. Promote products or services that resonate with your audience. For example, if you're running a podcast about productivity, project management software, time trackers, or even certain financial services might be a great fit.

Challenges: While affiliate marketing is a nice passive revenue stream, don’t expect it to make you a fortune unless you have a large, engaged audience. It’s more of a supplemental income strategy.

Partner with Brands that Align with Your Values

Sponsorships are often seen as the holy grail of podcast monetization. This is where brands pay you to promote their products in exchange for exposure to your audience.

A smaller but highly interested audience often converts better than a larger, less engaged one. To attract sponsors, instead of focusing on vanity metrics like download numbers, think about whether your audience is aligned with the sponsor’s target market. The higher trust they have on you, the better your chances.

Pro Tip: Look for sponsors who are aligned with your mission and values. For instance, a podcast on personal finance might partner with a budgeting tool, or a podcast focused on wellness might team up with health-related brands.

The Challenge: It’s important to keep your integrity intact. Don’t just accept any sponsor that comes your way. Be selective to ensure that the products you promote are relevant and beneficial to your audience.

Be Your Own Best Sponsor

A podcast isn’t just content—it’s a sales tool. When you run a business, one of the best ways to monetize your podcast is by leveraging it to sell your own products and services.

Whether you’re offering coaching, digital products, or physical goods, your podcast can serve as a platform to promote your offerings directly. In fact, this approach can be more profitable than relying on external sponsors or affiliate links.

Pro Tip: Think about your podcast as part of your marketing/sales funnel. Share valuable content that builds trust with your audience, and then promote products and services that can help alleviate their pain points. 

Challenge: You’ll need to make sure your podcast delivers consistent value so that your listeners trust you enough to purchase from you. If your podcast comes off as purely sales-driven, you could alienate your audience.

Sell Guest Spots

This method may seem a bit unconventional, but it's gaining traction among podcasters, especially in niche markets. Essentially, you sell guest spots to individuals or businesses who want to promote their brand to your audience.

While some may see this as unethical, it’s actually quite common, particularly for larger shows.

Pro Tip: If you decide to go down this path, make sure you’re transparent with your listeners. Ensure that the content is still valuable and not just a thinly veiled . Integrate the guest into your content in a way that benefits both the guest and your audience.

‍Challenge: Not all guests will be comfortable with this, and it could limit the types of conversations you’re able to have. Additionally, focusing too much on selling guest spots can detract from your podcast’s authenticity and may affect your long-term audience growth.

Crowdfunding

If you have a loyal audience who values your content, they may be willing to support you directly. Platforms like Patreon allow your listeners to contribute to the podcast in exchange for perks, such as early access to episodes, exclusive content, or merchandise. This model works best when you’ve built a strong community who are invested in the show’s success.

Pro Tip: Offer different tiers of support. For example, a $5 tier might get listeners early access to episodes, while a $25 tier could include a monthly one-on-one consultation or personalized shout-outs on the show.

Challenge: Relying on listener donations means that you have to consistently engage your audience and offer something of value in return. Without maintaining a strong connection with your listeners, it can be hard to keep them invested.

When it comes to monetizing a podcast, many people focus on growing the number of downloads and subscribers. While those numbers are important, the key to long-term podcast revenue is the quality of your audience.

By understanding what your listeners want, and aligning your monetization strategy with their needs, you can create a podcast that not only provides value but also generates revenue.

Start small, be authentic, and don't forget that podcasting is a long game. The opportunities are endless as long as you have a clear strategy and an engaged community behind you.

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About Ryan Sullivan

Ryan is the founder of Podcast Principles and a podcast coach. In 2019, he was kicked off his company podcast because it “didn’t drive leads.” A month later, he quit and started coaching business owners on how to launch profitable podcasts. Since then, he has driven over 200,000 downloads, thousands of leads, and hundreds of episodes for B2B businesses.

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