There are more podcasters and podcast listeners than ever, and it seems like every influencer either already has one or is actively working on one. Of course, this also means that more money is flowing into the sector than ever. Specifically, podcasting revenue grew by a staggering 53% in 2018 and spent almost half a billion on podcasts covering a variety of topics.
One of the reasons why podcasting is so popular is – simply put – it doesn’t cost a lot of money. While there are many podcasts that might require money for research, such as a crime podcast, for example; the sector is also chock-full of influencers and individuals who purchase some equipment, come up with a concept/topic, and speak freely or interview others for a certain amount of time. Here are ways that you can start a podcast and eventually begin monetizing it.
What Is Podcasting?
There’s a good chance that you are already familiar with the podcast world. Podcasts involve digital recordings where individuals might interview each other or discuss a certain topic. One of the reasons that the podcasting sector has grown is because they offer a long-form interview, in which many topics can be discussed in-depth without any sort of time constraints.
Pick A Topic
There are many different kinds of podcasts. Some podcasts are simply conversations between close friends, and others involve interviews with entrepreneurs, athletes, and artists. You will have to pick a topic or niche to delve into before anything else.
How many people will be on the podcast? Will you have guests every show, or not at all? Where will you record it? What will be the tone? These are questions you have to answer before actually recording any shows.
What’s In A Name?
If your podcast is successful, you might be associated with its name forever. If you choose a pretentious or controversial name; it might affect your revenue down the line. You will have to all agree on a name that represents what you’ll be talking about and the “feel” of the show.
This can help tremendously later on with respect to branding and marketing. It’s also important to think about keywords, and remember that your podcast might suffer if the name is too similar to another successful podcast.
Where To Go?
How many platforms will your podcast be available on? Will you simply be uploading it to a Soundcloud until you feel like people are listening? Will you make the podcast available for free or will their be a paywall to help sustain the podcast? Will the podcast be filmed, and will it be available on Youtube? These are obvious questions that will be integral to your growth.
Some of the most successful podcasts in the world have specific intros and outros that help the podcast stand out, and provide some kind of familiarity. Sam Harris has a podcast called “Making Sense”, and it begins with an interesting meditative and melodic sound that helps to establish a signature sound. This helps carve out a niche for Sam Harris, who actually has a meditation app. The only point here is that the intro helps Harris and his overall brand personality.
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We all have boundaries when it comes to certain subjects. For example, there are comedians that might joke about anything except race or racism, out of respect of the many individuals who might take offense.
Will you allow people to curse on your podcast? Does it match the tone of what you are trying to do, overall? Are there guests that you would refuse to interview? You should establish these boundaries quickly to help your audience understand your show better and quicker.
Let’s say that you will be starting a podcast focusing on life in the 1960s. If you simply start recording you and your friends speaking about 1960s culture and music, it might not exactly connect with an audience. However, what if you spent months researching the topic, finding out the most interesting and strange events and topics from that decade?
The truth is that you will have much more of a chance to stand out among other podcasts. The most successful podcasts are ones that delve into aspects of society or history that may have been overlooked, for example. In addition, you may also want to spend some time extending invitations to guests if you plan on interviewing people. After all, if you have an interview podcast, your podcast will be largely dependent on the guests that you bring on.
What does the audio sound like? If you barely have a budget for a podcast, you might find yourself recording with equipment that doesn’t make for a pleasurable listening experience. How much can you set aside for equipment?
In addition, will you be hiring someone to edit the content? This is especially important if you want to edit out cursing, for example. Do you have a producer that can help you while you record, or are you doing this on your own? A producer can help with the technical aspects of the podcast, and can save your podcast a lot of time and energy.
Of course, your podcast will need an audience if it is going to grow. In addition, you will want to ensure that your audience loves your content enough to spread the word about it. However, there are still other ways you can promote your podcast.
For example, you might find that it makes sense to hire influencers to endorse your podcast. You can also find companies to sponsor your podcast that might be interested in the demographic of your listeners. You should think about these things, and consider coming up with a marketing budget to help get your podcast off the ground.
Plan To Scale
What is your ultimate goal here? There are plenty of individuals who have a full-time job and are using their podcast to vent about politics, government, art, sports, and more. However, are you trying to actually generate revenue?
You might want to secure a plan to get to 1,000 followers and then plan on scaling. There are plenty of podcasts that are successful enough to tour as a live show, which can lead to even more revenue. If you believe that your podcast has potential, you might want to think more long-term than you are now.
You might find that podcasting isn’t for you, but you might also find that there’s a certain magic when you start recording your new podcast. While success isn’t guaranteed, podcasting is a sector that is continually growing, and you might want to get in on the action.