EP 26 – Best Time To Monetize Your Podcast

You have a podcast. Now it's time to grow it, build your audience monetize and more. It's all about becoming a successful podcast. Now here's your host, Bruce Chamoff. This p

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EP 26 – Best Time To Monetize Your Podcast

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You have a podcast. Now it's time to grow it, build your audience monetize and more. It's all about becoming a successful podcast. Now here's your host, Bruce Chamoff. This podcast is a member of the New York City Podcast Network at NYC podcast network.com. Visit us to listen to over 250 amazing podcast just like this one. Hey, this is Bruce Chamoff become a successful podcaster where I help podcasters become successful in everything from audience growth, to monetization, to editing, and quality of the sound of the podcast, and so much more. This episode has been requested by dozens of podcasters that I talk to on the New York City Podcast Network, through Apple through a lot of my interactions with people on LinkedIn. And, hey, you want to monetize your podcast? I get it. But there are some steps that should be taken and some milestones that should be reached before trying to do this. And I'll explain why soon. Now, what's interesting is before we move on, if you haven't reviewed this on Apple podcast yet, please do.

We also review back you know, if you want to send us an email, and let us know, you know, info at Hot web ideas dotnet. And you can definitely submit that to me and let me know you've given us a review. And we know we want to review back to we want you to be successful. And reviews are very important for both podcast popularity and growth, as well as monetization. This particular episode has three different parts. First of all, we're going to talk about your audience milestones, and why you need to accomplish these before you start monetizing. I know we all want to make money. Yes, I get it. We're putting in a lot of work on recording and editing and distributing, and maybe marketing through social media, I get it.

There's also a section here in this episode on how you can actually monetize pretty quickly. But again, once you reach those milestones, and I'm also going to tell you what we're doing here on become a successful podcast. So that's the third part. So let's start it right away. I get a lot of podcast has asked me, you know, Bruce, I'm doing a lot of work on my podcasts and I'm not making any money. Can I monetize quickly? And I'm gonna say, in short answer is if you're brand new podcast, No, you cannot monetize quickly. If you've been podcasting, and your podcast has been out there for a couple of years, and you have a nice sized audience, yes, you can start monetizing quickly. Here are a couple of suggestions I have before you start monetizing. These are the steps that should be taken.

First of all, you want at least 20 episodes. In your podcast, I'm sure a lot of people do have at least 20, some people have 10 times that much. And if you're not podcasting, making money from your podcast, then you're probably missing out on a very good revenue opportunity here. But it's not just a number of episodes, I will say this, that if you have at least 20 episodes, you're going to offer your audience some credibility. And that's really very important for audience growth and monetization. Okay, because that is actually providing content on a regular basis. Okay, so when you got 20 episodes, at least, your audience will see that you have some content out there. And if you're monetizing on every single episode, one suggestion I have for you, which is what I do with this one, too, is in your show notes, you can put hyperlinks to your most popular episodes. We have a lot of popular episodes I see right on my podcast hosting platform, which is anchor, how many views we get. And I can tell you now that the more views you get, the more chances you have of making a lot of money through monetizing your podcast. That's important to know. But again, it's not just 20 episodes. Here's the next step. have at least 50 people in your audience, your subscribers, almost every podcast platform tells you who your estimated audience will be and what your current audiences right now. Anchor does that. I know by sprout does it in their own analytics to anxiolytics. And it's very important. Let's just go over these last two milestones 20 episodes 50 people in your audience very important, okay. So now, anchor does provide this. And actually what they do is they they practice these rules as well. They won't even let you monetize until you have at least 50 people, I don't know what buzzsprout rules are, it's important to say this, the larger your audience, and the more they're hearing your episodes, the faster the money is going to come in once you start monetizing.

There is nothing more frustrating than when you try to monetize your podcast. And every single week you watch the money dripping by a couple of cents, are you making three to five cents a week? That's nothing and that's not encouraging to anyone. Okay, so it's important that you don't even start monetizing until you have those milestones reach, because then you'll see the money start coming in very quickly once that happens. And there are a couple more suggestions I want to give you before you start monetizing. All right. Now I want to say that if you're only looking at a couple of cents coming in, once you start monetizing, it's very frustrating, as I mentioned, and it causes pod fade, and feelings of failure for a lot of podcasters. And those feelings of failure result in many podcasters completely hang up their podcast after only a couple of episodes.

Alright, it's not going to happen that fast. Nothing happens fast with money unless you win the lottery. Right. Everything else requires work time and patience. I personally don't have a lot of patience. But I had to just, you know, learn it with this. So it's important. One more step, or milestone. I don't know if you call this one a milestone. But if you can get up to this one, it would be great. Publish at least two to three episodes per week, maybe one episode a week, but don't publish anything less than one episode a week. I say that because one episode a week. Okay, once you start monetizing. You want to see the money come in faster.

You're going to be paid per episode, anchor pays you per episode. And when you played your sponsored content, which I do, this is where you, you hear me and Megan talking about, oh, hey, you should use anchor that whole thing, right. And the other thing I'm going to say too, is when you're playing these ads, if you make sure you have a little outro and intro so outro coming into the podcast, so basically the outro for your main content and then kind of going into your your commercials. And then when you go back into your second part, you want to have another intro, which I do sometimes I don't play the intro, and sometimes I do. Okay, but now, when we come back from these messages, we're going to talk about once you reach these milestones, and goals, and D steps, how you actually monetize

Okay, we're back. We want to go over real quickly what those three milestones are that I told you about in the last part, it's very important. Okay, so first of all, have at least 20 episodes number to have at least 50 people in your audience. You can see all those statistics and analytics from anchor buzzsprout, or whoever you're using to host your podcast, and have at least two to three episodes per week. If you have to, if you can't get over to the microphone right away in your podcast studio, take your phone with you. It's our podcasting on your phone. It's your audience appreciates a very steady schedule. And I don't worry about publishing the same day, every week, a lot of podcasters. And youtubers will tell you, you'll publish on the same day, that's when people expect it. Yeah, I get it. But I kind of let you know if someone subscribes to you. This is my feeling. They don't need to know what the schedule is, because they're subscribing to you, they're gonna see the new episode, no matter what day you put it out. And sometimes you just can't stick to that schedule.

I can't stick to a schedule of publishing the same day, every week. And the same time. I know maybe I could do it, but my schedule so sporadic, with a lot of other things going on, I just can't commit myself to a specific date. My true subscribers are the ones that don't care when I put out an episode. And some of you might disagree with that, I get it. So let's talk about once you get to this step, how do you actually monetize? And there's a lot of ways I know a lot of people who are talking about sponsors, okay, sponsors are very interesting. There are some misconceptions about sponsors, like your sponsor has to be a fortune 500 company, or one of those companies that have offices all over the world, in every single country, like a fast food chain, like McDonald's, you know, we are you can get McDonald's as a sponsor. Yeah, that's cool, you know, if you have a food podcast, but you don't need that, in those, they're hard to get anyway, and you have to go through a lot of hoops, you got jump through a lot of hoops, just to get those big companies as your sponsors. And he probably won't pay a lot of money anyway, because they have a lot of people coming to them, asking them to be sponsors, and not just podcasting, but all types of advertising and content outlets. podcasting is just one little blip when it comes to these big companies. So there's nothing wrong with going to your local companies.

Do you have more access to them, find out who the marketing manager is or who the owner is. and ask them if they want to sponsor you. As long as they have a website, that they can sell their products and services all over the world, or through their social media, you don't have to worry about the local market, right? If you especially if your subscribers are coming from all over the world, right? The only thing I will say is that make sure that your sponsors are definitely in line with your with the topic of your word, the theme of your podcasts in general, right? Because somebody who is a sports athlete, probably won't want to advertise on the food podcast, maybe they will, you know, maybe you got some food company that's advertising in somebody's baseball, or football stadium, Okay, I get it. But you also want to make sure that they are definitely able to sell the product services online. And then you'll have a problem because they don't have to be local. All right. Now, if you don't want to do that, because a lot of people don't like to ask sponsors for money, no matter how popular your podcast is.

Don't forget an anchor and buzzsprout do pay you for their sponsored content. We use anchor here in anchor actually pays you for their sponsored content. I think that's cool. And that's one of the reasons why I use them now. buzzsprout does it also. But I don't really know what their statistics are, as far as any anything on monetization of their sponsored content, since I don't use them. But you're anybody out there. If you're you know, in my audience, if you're using buzzsprout for your podcast, you're welcome to email me at info at Hot web ideas. dotnet and let me know. All right. Now, I can tell you that as I put out these episodes of become a successful podcaster I can actually see each of my episodes getting more views and actually, I'm just kind of jumping the gun here. That's the third part. I do want to tell you about one more website that I found. That seems pretty promising, although I don't really have much information on them yet. And as I get more information, I'll certainly do a podcast episode on this website. It's called advertised cast.com I honestly don't know much them they are part of Lipson. So if you are hosting your podcast on Lipson, you probably already know about advertised cast. Now, right on the homepage, they tell you, they have 7500 available ad spots with 40 million monthly listener reach. And right now the only have 1500 podcast. I mean there, there are 4 million podcasts out there. Okay, so 1500 I think there's a lot of open opportunities here for a lot of you out there.

Let's just kind of review quickly. What I have here, as far as monetizing. So first of all, ask your local sponsors. That's number one. Number two, see if your own podcast platform, your hosting platform pays you for sponsored content. I know anchor does. And number three, you can use an outside company like advertised cast calm now. My own story for you right now is that I am monetizing this podcast I'm doing fairly well. You guys hear the the anchor ads that we put out there and we also get paid for other ads as well. Now on the New York City Podcast Network, if you go to NYC Podcast Network comm slash commercials, we started a commercial page where you can actually apply to play ads on your podcast. And there are different types of ads there like right now this I think about 10 of them. We're also going to pay you to put our New York City Podcast Network, a little ad their new podcast if you want. I think it's cool. And you can check that out at NYC podcast network.com slash commercials. So a lot of ways for you to make money. But again, I just want to reiterate make sure you have at least 20 episodes 50 people in your audience and you're publishing two to three times per week. All right, anyway, rate us on Apple.

We are constantly trying to put out episodes to make you all successful. And I want to thank everybody that's that's rating us and reviewing us on Apple and supporting our podcast because we definitely want to support you. I have no no problems helping anyone out there succeed. So contact me let me know if you having an issue. Let me know if you're having some struggles. We're here for you. I mean everybody. You can also check out my music. I got some original music on Spotify. Just look up Bruce Chamoff on Spotify. And you can also look for me on Instagram. Follow me there. We got a Facebook page for NYC Podcast Network. I'm definitely looking to increase my followers on Instagram. So I would love you to do that. And I'll put the link in the show notes here. And that's it. I'm looking forward to hearing from all of you, as many people as I can talk to you soon. This podcast is a member of the New York City Podcast Network at NYC podcast network.com visit us to listen to over 250 amazing podcasts just like this one.

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