In Episode #3 of the RobotSpaceship Podcast, (English Version) we talk about a BIG question that gets asked a lot about podcasting, Podcast Monetization strategies. In other words, how can you actually make money from a podcast?
Your host, Sean Early, goes over the basics of sponsored podcasts, podcast advertising, determining advertising rates, and other monetization strategies that can be used for growing your podcast from a simple hobby to a real business.
For more information on podcast advertising on RobotSpaceship and our other podcasts, download our advertising media kit.
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Since we are based in Germany, this first bootcamp, will be the German language only series, however, we will also be doing more bootcamps in the future in English, so stay tuned.
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Full Podcast Transcript:
Hey, everybody, this is Sean from Robot Spaceship. In today’s episode, we’re going to be talking about podcast monetization. In other words, how do you actually make money from your podcasts? So with that said, I’ll see you in the episode. Today’s episode is brought to you by Sustainable, your online source for organic and environmentally friendly pet care products in Germany. For more information, go to sustainability. T minus five, four, three, two, one.
Welcome to the Robot Spaceship podcast, offering business, marketing, social media and podcasting advice to help you grow your digital business. This podcast is brought to you by the Robot Spaceship Podcast Network. For more info and other great podcast series, go to Robot Spaceship Dot com and subscribe. And now your host, Sean Hurley.
Everybody, this is Sean Early and I want to welcome you to Episode three of the robot spaceship podcast English version. Today, I want to talk again about podcasting. And I’m going to be getting to the topic today, which is pretty much the biggest question anybody asked me these days when they’re considering starting their own podcast is how do you make money from podcasting? How do you actually monetize what you do?
So I thought I’d take a little quick bit of time to kind of go over the basics of how we monetize podcasts here at Robot Spaceship to kind of help give you some guidance on maybe if you’re considering starting your own podcast, especially for your business, where the RIAA is going to be for your efforts. You know, obviously, there are a lot of Hobbie podcasts, which I’m totally all for. I have a few hobby podcasts I’m been planning myself.
So monetization is kind of on the back burner of that. It’s more of a general interest. But, you know, if this is for your business, then you obviously want to know what you’re going to get out of it for your marketing efforts, because podcasting for businesses is basically just another marketing channel.
So the best way to describe it for me is basically just kind of go over how we do it and robot spaceship and kind of help you sort of cue in to maybe give you some ideas on what you may be more what what appeals do you more for, you know, your podcast strategy moving forward, whether you’ve been doing podcasting for a while and maybe you’re not monetizing yet or enough or if you’re just thinking about getting started, hopefully these will be some some useful tips for you.
So as I described in the past couple of episodes, Robot Spaceship is a podcast network. So in addition to this podcast, we are a network of other podcasts that have to do with different topics that we do business in or of our interests. So we are owned by a parent company called Cam Web Cam Webb is a digital agency in Mines, Germany. So they do primarily a lot of film and video production, a lot of web design, application development, graphic design.
We do a lot of business consulting, digital innovation, consulting.
And so a lot of what we do has to do with these topics, these sort of tech and design and development and innovation related topics.
So a lot of what we talk about in our podcasts are these topics and how they will either help our clients figure out what they need to do for themselves or maybe help them figure out how our services may be useful to them.
So on the high level, this is content marketing. So it basically we talk about generalized topics involving things that we specialize in and we we monetize from clients that are referred to us from this podcast, since we are positioning ourselves as as knowledgeable people within that industry. In this case, it is technology and innovation and and design and marketing and consulting.
So that’s that’s sort of the high level way that a lot of businesses monetize their podcasts is just by using it as an information layer to to deflect clients in based on that information, as a as a reputable source for certain type of industry or certain type of topic.
Second level would be providing sponsored podcasts. So this is more useful if you are a podcast that involves sort of a you know, this is also good for hobbyists as well. If you have a podcast on sort of a generalized topic or industry such as, you know, I have a how about a camping podcast or outdoor sports or hiking or fishing or or running or something, if you have a generalized podcast on this topic, then you may want to offer sponsored podcast so that a certain brand or certain company will pay you to have a podcast about their specific product or service and how it relates to that generalized topic.
So, you know, if you have a camping podcast, then you may want to talk to somebody who makes backpacks or tents or hiking shoes or camping stove or something. And then you’d have an entire podcast where you talk about that and its benefits. And then at the end, they would you know, you would you would reference their their you know, how do we get more for more information about your product and that, you know, you charge more money because the podcast itself is based around that specific client’s needs and you do that for different.
Clients and different brands and different products based on that industry, the third way to monetize on podcasts would be advertising. So you would just continue to do your podcast, how you normally do it, and then you charge people to have prerecorded advertisements or they charge you to to record an advertisement for their product, which is normally in the beginning or in the middle or the end of the podcasts.
So in this case, podcast advertising is usually what we call a pre roll, which is the intro part of the podcast before you actually start or the mid roll, which is where normally you take a break, say now we’re taking a break for our sponsored or now we take a break so we can pay the rent or however people want to say it these days. And you take a break and you take a cut and then you actually have their ad in the middle and then you can also charge for outros, too.
So before the end of the podcast, you do an outro and, you know, just depending on what the product is or the context of the podcast, there’s different strategic places in the middle of the beginning of the end of where you would place that.
So those are the big three basically. Now, most advertising rates are based on cost per ML, which most ad rates, whether you’re doing a banner or whether you’re doing any kind of online digital advertising radio. It’s all the same, I think, to.
But you basically charge per how many people you can guarantee are going to listen to the podcast. So cost per mile means basically cost per thousand standard industry rate, I think right now is like seventeen or eighteen U.S. dollars per CPM.
So if you have a thousand listeners or under, you can guarantee that, you know, for 18 bucks that many people are going to listen to the podcast.
And so, you know, people with with a few followers obviously sometimes charge less or if a very niche product where you have a very targeted market or a very small market of very targeted people, you can charge more money as well. But that’s normally the industry standard.
So in our case, since we’re a podcast network, we have different podcasts. I’ll go over a few just some examples. So we have a robot spaceship, which is our generalized podcast that you’re listening to right now. We have an English version and we have a German version. So we refer lots of our internal podcasts. We sort of advertise like at the beginning of this podcast. I’m not sure I think I’m using Sustainable, which is a pet care product business that we actually own.
So we have a podcast for Sustainable, which we focus on the products that we sell. And we also do advertisements within our podcast, especially Robot Spaceship, to advertise that particular brand. So at the beginning of this, you’ll hear a sustainable advertisement. And so we use this podcast to refer to our other podcast as a high level way to refer to different types of things we talk about or different products. Sometimes we advertise for Cam Web, which is our our our our parent agency, like I mentioned, or some other podcast as well.
I personally run a couple other publications, so I have a virtual reality magazine called AVR Magazine. I also have a musician based magazine called Modern Musician Magazine. So I refer a lot of that as well. And those are very niche targeted. So, you know, sometimes certain podcasts don’t refer to other ones very well, but sometimes they do. So it really just depends on who’s listening and who you may think benefit from either going to that website or going to that that podcast or wherever you want to do it.
So it’s just kind of a way to bounce people around and kind of continually refer internally. I’m also a big fan of what I like to call the hip hop marketing strategy.
If you listen to a lot of hip hop, there is a ton of them just sort of advertising within hip hop, within the song for different aspects of, you know, whether it’s they’re they’re promoting the record label or promoting the deejay who who is on the track or the guy who made the beat or the different rappers on the song usually hear it in the beginning or in the end.
And sometimes, you know, a lot of hip hop songs will be collaborations between two artists. And so there’s a lot of calling out of different things within a hip hop song. So I kind of use that process in my podcast to be able to just sort of you know, I use the context of my podcast to refer other things, whether it’s a topic of interest or whether it’s a business partner or some service that we provide or whatever. So I like to use that sort of methodology.
So it’s it’s also nice because you you basically just, you know. It’s like a it’s like a dinner party conversation where you can offer references, you can offer tips, you can offer advice and you can offer resources. And in a way, you benefit from that on the back end or your partner or your friends will benefit from the referral. And you kind of do that with each other. You refer each other. And that’s, you know, I mean, that’s just basic networking.
But I like the hip hop mentality of that because it kind of you know, it mixes well and it makes everything sort of liquid in how you refer your network and how they refer back to you.
So our podcasts are basically the current lineup right now as we have the robot spaceship podcast, we have a German version and we have an English version which talks about, you know, high level robot spaceship related topics. We also talk about business and marketing and advertising and technology and how that all mixes together in relation to all the other podcasts that we we produce. As I mentioned before, we have a podcast all called Sustainable, which is basically talks about our online shop, which is a organic and environmentally friendly Petcare product shop that we actually run.
So we have a podcast that talks about the products and services in our shop. This is German language, German based market. And so we talk to a lot of people who who actually create the products that we sell. So we kind of help people build more interest on the specific products that we sell for pets. Um, we have a couple of other podcasts. We have a classic podcast. It’s called Classic Podcast. So it’s a it’s a German classic car podcast.
So we do a lot of communication in the German auto industry, the the classic old timer, classic cars in the in in the auto industry. So we do a lot of referrals within that industry. And it’s it’s a pretty big podcast. It’s growing in popularity and there’s a lot of interest in it. We have, like I mentioned, the other the publications that I have, we have a couple of guys that can web. They started a podcast called Dungen Starter.
So it’s basically a roleplaying podcast where they talk about Dungeons Dragons role playing games. So it’s more of a hobby podcast. But, you know, it mixes things up and, you know, everything is is sort of revolving around technology and culture and innovation and kind of it all. It all brings context to more generalized, high level topics that can kind of refer to each other in different podcasts. So, again, in addition to the classic advertising and sponsored podcast that we do, we do a lot of just content marketing for all our various resources.
So that’s that’s basically how it rolls for our podcast business. We also do various types of you know, if we do a sponsored podcast for a particular client or product or service will also offer because podcasters are basically also influencers. And so they build a lot of followers on social media based on the topics that they podcast about. So, you know, whether it’s my music podcast, I become a musician influencer or a music gear influencer. And so brands pay me basically to talk about their their music gear, their music software or their their band or their their music industry related service on that podcast.
And I also share it on my social media. And so we can either charge for call outs or we do exchanges for for, you know, doing doing reviews or whatever. It just depends on how you want to work it out. But, you know, you can be flexible on how you want to charge or whether you want to exchange services or whatever. But, you know, there’s different ways that you can monetize other than just talking in your podcasts.
So using your social channels as Klout to also refer the brands in combination with the podcast is also, you know, you can make a package deal for you know, we’ll do a sponsored podcast, we’ll do sponsored blog post about the podcast. And we also do a sponsored social media blast that talks about all the podcast and the products that you’re talking about.
So there’s a lot of ways you can spin that if you’re creative and you have an interesting product and, you know, enough interesting listeners who would be willing to pay attention to things you talk about, I’d say the the final thing that we’ve been doing lately, which, you know, I guess I’ll leave this at the end here, but we just started actually, you know what I’m doing right now?
I’m I’m discussing ways with you to give you ideas on how to monetize your podcast. So we have been offering workshops about podcasting. So we’re just about to do we’re getting ready for our first robot spaceship podcast, boot camp at the end of the month here. So we’re going to be teaching people we’re going to take three days. It’s an online course because of Korona. We can’t meet in person. So we’re doing an online course. But, you know, it’s just the same basically it’s intensive training online and we’re basically taking people from start to finish in three days on how to start their own business podcast and how to launch it.
So, you know, we use our expertise in podcasting and podcasting, production and podcasting, monetization and business strategy and all these other things that go along with it. The video production, the audio production, the the the web design and the social media and all of that that goes along with it.
We kind of walk people through the process that they need to start their own podcast. So, you know, in a way, we’re using our podcast to monetize podcasting in a way. So it’s another way to spin it. So, you know, you can you know, it’s I guess that goes to a business model or business strategy question on your side. But, you know, if you do run a business, you know, you can sell products and services.
You can also monetize the knowledge industry about your products and services as well. So you can charge people to teach people about what you do. So it’s just another way to spin it as well.
I’m trying to think if there’s anything else here, we also do media partnerships sometimes. So if there is an event where other people are involved, we we cross promote. So, you know, back in the old days before Korona, when we had conferences where people would go, hopefully that’ll change in the future here. Fingers crossed. But media partnerships for big events, that’s also something we do. So sometimes we charge for that. Sometimes we basically just trade.
We’ll talk about your event if you put our our advertising or our logo or whatever in your material or whatever, and we’re become a sponsor partner. So we do a lot of partnerships as well. And so it’s not really a monetization, but it really is a you know, it’s a co promotional opportunity that we use a lot.
Um, you know, we we endorse certain products that we use sponsorships for certain gear. We do some of that. So I think that’s that’s basically the bulk of it. You know, I can get into very specifics on every single topic. And I think if we if you want to join in on one of our podcast boot camps, we’re going to take a much deeper dive on on how to do that. But I think that’s a good general overview of how podcasts are being monetized, at least on our end, for our podcast network for Robot Spaceship.
And I hope they gave you some ideas on how to either monetize your business or maybe you’re interested in helping us try to figure out how to monetize your business or your podcast. We’d love to talk to you about that.
So with that said, that is Episode three, the Robotization podcast, How to Monetize Your Podcast.
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Been talking a lot about podcasting lately, but I’ll be getting into a lot of other topics very soon. So with that said, I’m Sean Early. This is the Robot Spaceship podcast and I will talk to you soon, but.
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