Podcasts have been with us for years, but for many people, it was the 2020s that this form of entertainment began to dominate the market. Although podcasts have been around for more than a decade, they have gained unparalleled popularity and listenership only over the past few years. Many people wanted to start a podcast just to have something to talk about!
As a result, many podcasters have become financially and logistically independent, and can make money just by talking. If you too would like to make money from podcasting and are wondering how to make a podcast, keep reading!
What exactly is a podcast?
A podcast is an audio file, usually in mp3 format, that you can download to your mobile device and listen to. Most often it is a discussion or presentation of a given topic. In simple terms, we can say that a podcast is a radio program on the Internet which you can listen to using various apps or platforms. It works like streaming videos on YouTube, but without the video.
However, unlike a radio show, anyone can build and create a podcast. You don't need a radio license or a transmitter to start your own podcast. Set-up is easy and effortless, and you can talk about anything for an unlimited amount of time without commercial interruptions. You can enjoy professional business podcasts, hobby-related ones or comedy shows.
Podcasting allows people to listen to content of their own choosing while having fun—jogging, commuting, exercising, walking the dog or doing the dishes. It has opened up a whole new universe of possibilities for listeners who are not limited by any FM signal.
Why start your own podcast?
The question is—why not? Many people started podcasting by expressing their passion and just love to talk about it. Do you have a passion? Or do you think your company needs some extra marketing material?
Before you start your podcasting adventure, you need to consider whether you want to podcast about and how. This knowledge will help you identify your audience and develop material for them. When starting a podcast, consider whether you want to create a podcast out of passion, to promote your brand or for money—and what you want it to look like.
Podcasts are extremely popular because of their on-demand nature. People don't like to listen to unnecessary commercials or discussions they aren't interested in, and they have literally tens of millions of broadcasts to choose from. And that means that if you do something wrong, others can switch to a competitor's broadcast in two clicks.
As a result, without a plan or a clear idea, you are less likely to succeed. All you need is a good plan—the most listened to podcast, Joe Rogan Experience, was bought by Spotify for 10 million dollars, and it grew from simple discussions!
Think about what you want your Podcast to be about
The first thing you should do is choose a topic. What will you talk about? Before the Internet, radio shows focused on specialized topics. Choosing your niche is extremely important so that you don't stray from your core, and your podcast won’t become two people just rambling about.
If you have a niche, it's easy to find a dedicated audience when you start your podcast - for example, "politics" is a very broad topic - but, for example, "comedy discussions about politics from different perspectives" is already something you can offer to others.... Of course, also in this niche you will probably have competition already!
How do you choose a niche? It's probably obvious to you - it's something you know about, have a real passion for, whether it's a hobby or your profession. Your entire podcast set up should revolve around your chosen topic. When starting a podcast, you should consider what excites you and whether you have enough knowledge to describe it.
If your business sells a certain specialized product or service, you could be the first person to make a podcast about that market. This can be a great way to bring in new customers, get people talking to each other, and brand your business as innovative, creative, and unique.
Who is your podcast intended for?
Is it for experts or novices? Is it meant to be educational or a discussion of values? Why should they pay attention to your podcast? List the values you want to drive - and consider whether they are marketable. If you’re thinking how to make money from podcast activity - consider your target audience.
Now that you have the general idea, think how your first episodes will sound like. It’s probably best to have a co-host since one person talking is just boring… but there are popular podcasts like skeptoid.com that only have one host explaining interesting topics.
Nonetheless, now that you know how to start a podcast you should imagine a couple of ideas on how it would go. Before you start preparing, have a general idea of the discussion - you don’t have to write an exact script, but you need to decide the genre: whether it’ll be a conversation, a review, a political discussion. Based on that, start to imagine how your first episode will go. Choose the exact opening topic and go mentally through it - if you’re satisfied with the general idea, you can start working on a couple of first episodes!
How to choose a good name for your podcast?
As is usually the case, the basis of marketing your podcast will be a good name. But how do you choose it? Well, we have some advice for you.
Imagine your future podcast episodes. What are you going to say? What questions will you be answering? Will each episode cover a specific topic? If you already have a plan, everything will go in advance. For example, if you want to talk about strategic board games, you already have a good base for a pun. Write down all the words that you can associate with board games and try various jokes and combos to try to combine them together.
A good podcast name can be specific and clear, such as "The Bad Movie Cast," or vague and mysterious, such as "My Brother, My Brother and Me." However, it should give the general idea of what your program is about.
Be short and to the point! Short names are easy to pronounce. They are also easier to remember and easier to say out loud. It will make it simpler to fit the name of your podcast on the cover or the trailer, and search for it on Google if it only has a few words.
How to make money from your podcast?
If you've already recorded your first episodes, that's great. However, consider whether you want to make money from your podcast right away—it's worth generating money from your program, you have several options to choose from:
Ads and sponsorships
The most popular way to make money from podcasts is through sponsorships. Aside from accepting donations, this is also the easiest because you don't have to produce or sell anything. All you have to do is make a deal with a sponsor—who buys a certain amount of advertising from you.
You've probably heard podcasters start or end their program with something like "This episode is brought to you by mattresses, courses, or stamps." Sometimes these commercials are the funniest part of the program! Of course, this requires popularity and a lot of viewers.
Donations and subscriptions
Asking for money is also a very simple approach to monetizing podcasts. Many fans are willing to donate a few bucks to their favorite podcasters to make sure they continue to receive quality material.
While opening a Patreon account used to be the ideal way to offer subscriptions to audio content, podcasters now have many more alternatives. Sponsored content on YouTube, for example, is a very interesting solution. Many platforms take their own cut, and you want them to be as small as possible.
Product or paid content
Since you know that your audience enjoys listening to your podcast, you can expect that some of them will be willing to pay for premium versions of your material. All you have to do is make some exclusive recordings that are only available for purchase—whether as a gift on Patreon or as a paid download.
When viewers like the podcast, they can also buy items to promote the show. You can offer T-shirts, mugs, stickers, or anything else—and in the process they will also promote your podcast to their friends!
Affiliate program
Some companies have affiliate programs that you can use. You simply join and gain an affiliate link. You will get paid every time someone registers or purchases a product using your link.
Live performances and public speaking
Many podcast producers think the transition to public speaking is easy. You will probably do well in front of an audience if you have no problem speaking on your show. If you've made a name for yourself, you can perform as a comedian and hold meetings. Sell tickets to a live event where your fans can see you in person.
Summary
So now you know how to start a podcast in 2024 - all you need is an idea and a partner to talk with! Get online and start podcasting!
