You don’t need thousands of downloads per episode to make money for your podcast

If you were to ask me four years ago why I was starting a podcast, I would have answered: “Because I love telling stories”.

If only that sweet intention could fuel an indie creator forever. The truth is, being an independent podcaster is arduous enough, the last thing you need is for your love of creating to drain your bank account. And when you’re seriously considering podcasting for the long haul, you have to get creative about sustaining it.

Let me break it down for you: YOU NEED MONEY.

I don’t care how many times you hear Gary V., say that you can start your podcast for free, you can’t build a sustainable long-term show for free. It takes time, and time is money, and it takes equipment and that costs money too.

If I had known four years ago, what I know now, I would have created sponsorship packets for my podcast in year one instead of in year three.

Here’s the thing, my downloads didn’t dramatically increase from year one to year three, they got more reliable, and my listeners became more devoted. I started realizing that I had a very loyal and dedicated audience looking for a very specific type of content. If you’re wondering, my podcast was getting about 500 downloads per week (total) when I started realizing this, and that is when I sold my first sponsorship.

I started talking to friends in podcasting - fellow indie creators who were selling sponsorships on their shows and I learned about other ways to bring in revenue. Things like affiliate marketing and direct selling services were among the most popular options for monetizing a podcast. Learning this proved that there were several ways to sustain my show, I just needed to get creative.

If you want proof, listen to Café Con Pam, a chart-topping podcast hosted and independently run by Pam Covarrubias. Pam’s been bringing in revenue through her podcast via sponsors for years, and she doesn’t even have Oprah numbers. How does she do it? She knows her audience.

Know your audience!

Knowing your audience is the most effective way to start growing your brand and your podcast. Why? Because they feel heard and seen by you. You know what they want, so create it. You know what they need, so you deliver it. This consistency makes it so your audience knows what they will get when they come to you, and that makes them feel comfortable and appreciated. Considering sometimes we don’t even feel appreciated or seen in real life, being able to consistently rely on a podcast host, feels pretty damn magical.

What am I getting at? As an independent podcaster, you can start bringing in revenue to sustain your show, even if you’re not getting thousands of downloads. You might not be able to quit your other job, but if you can at least pay for the cost of making your show, that is a HUGE win.

You could start here:

Consider starting small with one or two local sponsors who can most benefit from your show. Or maybe your show is super popular in another state and city, approach a local company there. Don’t charge CPM and don’t bother researching “how much to charge for your podcast ads” because the information out there is mostly geared toward high-volume shows (10,000 or more downloads per episode per week). Instead, think about how you can do a campaign around a business that includes your podcast but extends into your social media. You can leverage other areas of your brand to make a larger impact and give your sponsor more impressive results.

Awareness campaigns are also an independent podcaster’s best friend because they’re not specifically looking for click-through rates, they want to be seen and they want to connect with your audience first. This could make for a great partnership with your local non-profits and government organizations. Think outside of the box! Just because you can’t get Noom to advertise on your show, doesn’t mean you should give up. Know your audience, and approach potential sponsors with the confidence to let them know that you have hundreds of people ready to hear about their brand.

To learn more about how you can land sponsors for your podcast and bring in revenue, make sure you register for this month’s webinar with Pam Covarrubias from the chart-topping and Oprah-approved independent podcast, Café con Pam.