Monetizing Your Podcast with Online Courses

Many people talk about building an online presence through blogging or YouTube, and then monetizing using courses. If writing or video production isn’t your thing then consider using podcasts!

When podcasts first came about they were huge, and then the hype died down and they sort of became less popular. Today we see a resurgence in podcasting and it is clear that they are very much here to stay. If blogging isn’t something that interests you then podcasting may be your ticket for building an audience and selling your online course!

Podcasting is pretty simple, but that doesn’t mean that it will be easy. I have had many conversations with colleagues who podcast regularly and it is a definitely a grind. You will need to put in a lot of work if you want your podcast to be successful, but that’s true with anything in life. Consistent content creation takes time, practice, and patience. However, with persistence you will realize a snowball effect and your efforts will begin to pay dividends.

What if you don’t know anything about podcasting?

So you probably have heard of podcasting and likely have listened to one or two, but still have no idea where to start. Sure you could just start up your computer or iphone and begin recording an episode (though I wouldn’t recommend it without at least some planning).

If podcasting seems like something you would want to do in order to build an audience for your online course idea (more on that later), then you have two options:

  1. Purchase guides to learn how to do it yourself
  2. Work with a contractor to help product your podcast

The first method is going to be more budget friendly, but that doesn’t mean the second isn’t valuable. In fact, the second method gets you up-and-running way quicker than the first.

If you are looking for a guidebook that isn’t full of “fluff” and gets right to the point, then check out The Podcast Starter Kit. It’s a straight-forward guide to getting started with podcasting, answering all of the questions beginners have when first starting out.

If you want to have someone help you define your audience, map out episodes, and act as your producer then you should consider hiring a contractor to help you. To be honest, this type of service is pretty rare but fortunately for you I happen to know about Come Alive Creative by Jeff Large. Jeff takes the guess work out of podcasting by helping you with your concept and production so that your business benefits.

How you can make money from your podcast.

Podcast revenue usually comes down to getting sponsors or selling your own products, and one great product to sell is your own online course related to your podcasting topic!

Continually finding sponsors can be challenging if your podcast isn’t super popular (which is the case for 99% of all podcasts out there). By focusing on creating and pitching your own course you effectively remove the burden of pandering to companies and individuals to sponsor your podcast. Even if you don’t mind that kind of work, it’s a continually process as many sponsors will only sponsor one-time (or intermittently at best).

By creating a course you have an asset you can offer again-and-again on every episode. Plus, since your course is going to be related to your podcasting theme then you know immediately that anyone listening already has some interest in that topic – making them a warm lead.

Remember that nothing worthwhile comes easy.

Anyone that tells you that making money online is easy is a liar. It takes a lot of work and dedication. While it may not be easy, I can tell you that the process is simple. The trick is to avoid the “shiny object syndrome” and other gimmicks so that you can keep your efforts laser-focused on just one or two projects. Anything more and you will be stretched too thin.

If podcasting sounds like something you would like to do, then first start with the podcast itself. Educate yourself on the industry and begin mapping out your podcast’s overall theme and potential episodes. Don’t even worry about your course yet. You can use your podcast as a litmus test. If you aren’t attracting listeners to your podcast then chances are your course would suffer a similar fate.

Start slow, be steady, and pay attention to your metrics. Adjust your trajectory if needed and remain consistent.

Author

Justin Ferriman is the co-founder and CEO of LearnDash, the WordPress LMS trusted by Fortune 500 companies, major universities, training organizations, and entrepreneurs worldwide for creating (and selling) their online courses. Twitter | LinkedIn

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