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Make Money With Podcasting

By | April 24, 2008

How about that? Two episodes in one week! I know you’ve been suffering from withdrawls, and I’ve been thinking about something for awhile, so I’m back and I’m fired up.

Today’s episode is not going to be about anything directly related to Podcasting. The reason I say it isn’t directly related is because it’s not going to be about technical stuff. Instead, we’re gonna talk about money. Cashola. Dinero.

Some of you are probably podcasting for fun, but a lot of you are probably podcasting in the hopes that it’s going to make you some money, either directly from the podcast or from the traffic that it generates.

What I wanna do is help you out with some other aspects of podcasting, or at least making money as a podcaster and I’m actually going to start giving you some tips to making money online, basically, getting you setup to be profitable with your podcast.

Before we get into this, I want to say that I realize I have not aired the final pictures of the studio job I started covering a couple of months ago. I still have the pictures, but I’m saving it for the next video podcast and since the last two episodes have not been video, it’s got to wait.

You’re listening to the Podcasting Blog, I’m your host Ken Walker, and I’ll be right back.

OK, so now I’ve probably got your curiosity peaked and you’re like ‘what in the world is he going to talk about?’, right? Simple really. Podcasting is done for various reasons. You could do it for fun, you could do it because you hope to get money through advertising, you could do it just to promote a product or service, but what it all boils down to usually, is that you hope to be generating some revenue, either directly or indirectly.

What I’m about to tell you may or may not be familiar to you. It’s called List Building. Basically it involves putting somewhere on your website, a form that people can fill out where they put maybe their name and email address, that’s usually the most popular information that is requested.

When they do that, they are added to a list of subscribers. Now this is different than your podcast subscribers, so don’t get the two confused. Podcast subscribers are the ones that listen with a pod catcher like iTunes. The subscribers I’m talking about have subscribed to your list, this could be a newsletter for example.

For those of you that are not Internet Marketers, the reason that you are building this list is so that you have a group of people that actually want to hear from you, that you can market to. They like you, they trust you, they want to hear from you.
What that means is that if you send them a newsletter and mention a product or service that you’re promoting, they’ll be more willing to buy it.

This works in just about any scenario. Even if you don’t have a product or a service to promote. Let’s say that you love playing guitar, so you start a podcast about playing guitar. You’re doing it just as a hobby, but then you get the idea that you’d like to make some money from it.

You can build your list up and then you can sign up as an affiliate of several products or companies. People listen to your podcast. They see that you know what you’re talking about, maybe you tell them how to play a song, or maybe you even show them with a video podcast. They learn to trust you.

If you put that optin form on your website and mention it in your podcasts, maybe you’ll give away a free ebook with guitar scales or something when they sign up, a lot of people will go ahead and optin. Then you’ll market to those people and push those affiliate products. Whenever they buy a product, you’ll get a percentage of the sale as your commission.

Internet Marketers do this all day long, so trust me it works.

If you’ve got 1,000 subscribers on your list, you could easily make $1,000 a month just off of commissions. And yes, if you have 2,000 people on your list, you’ll make about $2,000 a month.

So it’s about a dollar per subscriber per month and that’s basically because not everybody is going to buy the products you push, every month. This month, 10 people might buy, next month another 10 people might buy, that’s the way it works.

To make this work, you need to have a website, and this can even be a free blog, you need an account with an autoresponder, I use Aweber but there are others out there like Get Response.

Then you’re gonna create a list in the autoresponder, create a welcome message for the list, create a web form that asks for their name and email address, and this is all done by the autoresponder Aweber has a great interface for this. You put the web form code on your site and viola! I can say it a lot faster than you can actually do it, but it’s not too tough.

For those of you that are using WordPress, this is real easy. You get the web form code form your autoresponder. If you’ve got the latest version of WordPress it has widgets enabled already, if not, you’ll have to install widgets.

Login to your admin account and find Widgets. Add a text box and then paste the code you got from your autoresponder. Once you save it, you should see the webform in your sidebar, or wherever you put the text box.

Code Banter has a pretty neat plugin that will work with either Aweber or Get Response, that’s another autoresponder company. I’ll put the URL in the show notes. As I said, you install it as a plugin, then go to Options and you’ll see Code Banter Optin.

Choose your autoresponder, and populate the form. You can also use the extract function and just paste the aweber or get response code in the box, and extract it. It’s pretty easy really. It’s a widget so you still use the widget page to manage where it goes.

As a matter of fact, I’ve got a Code Banter Optin box on the page here at the Podcasting Blog. And if you sign up, I promise to send you promotions and try to get you to buy some stuff so I can make some money off of you.

Now the beauty of an autoresponder is not just so you can send out a newsletter. It also lets you send out messages at predetermined intervals. For example, you could say, OK once somebody signs up, send the welcome message right away. Then 2 days later send marketing email number 1. Three days after that, send marketing email number 2, and so on. So you can setup a sequence of emails to be sent out and try to get them to buy something or visit some website, and it all happens automatically.

The trick to getting people to subscribe is to offer them something for free, like a report, or a helpful manual, anything that they would be interested in.

And, the trick to making this work is traffic. You need a lot of people listening to you and to get that, you need a lot of people coming to your site. But that’s something we’ll talk about in another episode.

I’m Ken Walker with The Podcasting Blog. You can contact me at podcasting@seocompany.ca. Or visit our website at http://podcasting.seocompany.ca. Have a great weekend.

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Topics: Monetization, Podcast Promotion | No Comments »


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