A lot of people begin doing podcasts because they have an interest in a subject, or to share their knowledge or expertise in a given area. However, many podcasters have successfully utilized podcasting to create a nice revenue stream as either a second income or full-time job. Podcasters have become almost as creative in devising ways to generate revenue from their podcasting as they are in their podcasts themselves. Some use only one technique to monetize their podcasts, while others use a combination of several different money-making methods that can be incorporated into podcasting on YouTube or some other website. The following are five of the top ways to make money with a podcast.

1) Sell Advertising

If a podcaster can build up a sizable audience following, it is relatively easy for him to then arrange to get paid for advertising a product or service on his podcast. There are advertisers that pay based on clicks or impressions, actions taken or at a flat rate. A podcaster can sell advertising directly or sign up with any number of podcast networks, such as Podtrac. Podcast networks categorize podcasts and then sell advertising in the category to sponsors. Podcasters get paid according to the responses generated when the advertising runs on their podcasts. The most common types of podcast ads are preroll ads that run at the beginning of a podcast or ads that run at some point during the podcast.

2) Affiliate Marketing

There are hundreds of thousands of products or websites on the Internet that offer affiliate network marketing opportunities. As an affiliate marketer, a podcaster refers his audience directly to a product or to a website that sells a variety of products. The podcaster is then paid a percentage of any sales made as a result of the referral. Commissions generally range from 10 to 50%, but some affiliate marketing arrangements offer up to 70 to 80%. An example of affiliate marketing is a podcaster who does podcasts on woodworking and then signs up as an affiliate marketer with a company that sells woodworking products online. The podcaster inserts a link to the company's website and mentions it in the podcast as a good source of woodworking materials.

3) Product Creation

Some podcasters make money by creating and selling their own products, such as e-books on the subjects covered in their podcasts. The podcast helps to establish the podcaster as an expert on a particular subject, and he then offers his own e-book, or actual printed book, for sale through an online link that appears on the podcast site. Alternatively, the podcaster can inform his audience that the book is available on sites such as Amazon.com or BarnesandNoble.com.

4) Consulting or Coaching Services

Other podcasters market their expertise by offering personal consulting or coaching services. They advertise the opportunity to receive one-on-one coaching by placing an offer for their services on their podcast sites or mentioning their services during their podcasts. Consulting or coaching services can be offered to companies or individuals. This is a particularly popular means of monetizing a podcast among podcasters who broadcast about investing strategies or offer professional services such as legal advice or business consulting.

5) Donations

An alternative method for making money through podcasting is as simple as asking the audience to support the podcast through donations. Some podcasters ask for donations directly, while others solicit donations through a site such as Patreon.com, which states it is designed to support "artists and creators." Musicians and artists who do podcasts have successfully used such sites to help support and fund their careers, but seeking donation support is certainly not limited to visual or musical artists.

There are a number of other ways to make money through podcasting, and one of the easiest ways to learn about them is to examine the various money-making techniques you see utilized by other podcasters whom you follow.

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