Creating an addictive podcast may seem like hard work. But with the focus and the proper steps, one can easily create a podcast that earns money.
Perhaps, you're thinking of creating an addictive podcast and making money from it. It seems pretty straightforward – think of a good topic idea, grab a microphone, and go, right? Wrong.
There are 3.2 million podcasts on Spotify – that's around 50 million episodes for a person to choose from at any one time. It offers a tremendous amount of choice and diverse content for listeners, which is why podcast listening has boomed by almost 50% YOY.
But it also presents a challenge for podcast creators. The podcast landscape has quickly become a cluttered one, where only 57% of listeners finish an episode. Plus, around 90% of podcasts have less than one thousand listeners per episode.
So how do you create an addictive podcast, build a solid listener base and make money off it too? You need a thoughtful, detailed strategy.
Here are a few little tips to get you started from the experts at Ampel.
1. Create your idea
Making a podcast is different from other types of content. It's intimate, in your ear, and something listeners have chosen to listen to. So, it's essential to not just dive right into an idea when creating your podcast. Instead, you should consider why you are making the podcast, who it is meant for, and why it would matter to them.
Asking yourself these four questions can help you hone in on the right idea that will create impact:
- Who are you? What are you good at? Are you an expert in something? And what version of yourself do you want to bring to the podcast? For example, are you funny, or are you more serious? Being clear on your strengths can help you find your authentic voice.
- Who are the listeners?
Who are you speaking to? What are they like? What matters to them? Ask yourself if they would listen to your content. Be as specific as possible when defining what your listeners are looking for in a podcast. For instance, 'Being Inspired' is too vague. Listeners generally look for something they can describe, such as 'business advice on scaling a small retail business'.
- What do you have to say? What do you love to talk about? Being honest about what you genuinely love and creating a strategy around it will help you find your original idea - ensuring your podcast is authentic to listeners.
- Why would they care? After listening to your podcasts, what do you want your audience to think? What do you want them to feel? Great podcasts resonate with listeners, with thoughts and ideas lingering long after the podcast.
2. Find a great host
A podcast host can make or break a show, and the importance of a great host must never be underestimated.
Remember that they're your brand's voice when they speak. So choosing the right host, whether it’s you, someone in your organisation, or a celebrity host, will set the tone for the entire podcast.
For example, a great host should be:
- Experienced, curious and interested;
- Relevant to the material and can contribute to the topic, not only asks questions;
- Show great active listening skills and know-how to probe a guest to give compelling answers
- Know how to set a scene
- Do their research and ask excellent questions
- Are comfortable being unscripted
Celebrity hosts are often a great option, as they generally come with a following and can attract high-profile guests.
3. Tell a great story
If you have an exciting topic and a fantastic host, but your podcast lacks a story, your listeners will stop listening. Constructing a story using basic story principles:
- Set the scene
- Introduce the characters
- Make sure there are plenty of conflicts (i.e. the protagonist can't get what they want)
- There's a resolution
- The characters learned and evolved
With audio, your story is invisible, so use sound design to transport the listener into the story. Skipping this part can be the difference between a well-told story and one that no one listens to.
4. Build your audience
Now that you have a great show, it is time to build your audience.
Start with your podcast cover art. Create and design your social channels, website, and audio channels so that audiences can find you on multiple platforms.
Consider where to distribute your podcast. It's important not to solely focus on one platform like Spotify or Sound Cloud. Appearing on as many audio streaming platforms as you can is very easy, and don't overlook video filming, as 30% of podcasts are 'listened' on YouTube.
5. Market yourself
Finally, learn to market yourself on your podcast.
You could ask your followers to support your growth and tell their friends, or even respond to your followers to build a community. You can also consider hosting live events to generate interest or feature on other podcasts to cross-promote across audiences.
While the podcast market can be cluttered, you can cut through the clutter with a little bit of planning and focus. And once you have a loyal audience, you can consider more options to monetise your podcast.
Watch the entire webinar by Ampel to find out how to make money from the podcast and how Commission Factory can support advertisers and affiliates through podcasts and affiliate marketing. Want to speak to the Ampel Team, you can email Josh Butt and Michelle Lomas for more information about their services and what they do.
Not working with Commission Factory? Contact us for more information about how you can become an advertiser or affiliate.
Ampel is Australia’s premiere audio experience company that helps brands and individuals find their voice. Ampel provides full-service audio solutions – from strategy to production, distribution, media, marketing and measurement. We create unique voice-led content experiences that captivate and surprise people - from original and brand-funded podcasts to interactive voice experiences, customer experience, internal employee engagement, brand-funded TV shows and everything in between.