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One of the questions I get asked all the time is, “When should I monetize my podcast?” It’s a question that still catches me off guard, honestly, because it’s like asking, “When should I have a kid?” There’s no definitive answer—it depends on when you want to and when you can.

In this episode, we’ll talk about:

• The bare minimum needed to monetize a podcast
• Monetization options for beginners, intermediate, and established podcasters
• The pros and cons of monetizing your podcast
• The biggest mistake podcasters make when they push monetization too early

The Bare Minimum to Monetize Your Podcast

The simple answer is you can start monetizing your podcast when you’ve built trust with your audience. Some podcasters already have a following before launching their show, so they can monetize from day one. But for most of us, building that trust takes time.

Here’s a reality check: It’s not about having listeners; it’s about having loyal listeners.

To get started, focus on these three phases of the customer journey model:

1. Know: Your audience finds out about you and your podcast.
2. Like: They start to listen regularly and connect with your personality or story.
3. Trust: They see you as an expert and someone they want to invest in.

Pro Tip: Before you monetize, ask yourself, “How many of my listeners are in the ‘like’ or ‘trust’ phase?”

Beginner Podcast Monetization (100 Downloads per Episode)

If you’re just starting and have no following or a very modest one, the first goal is to reach 100 dedicated listeners per episode. Until then, focus on:

• Promoting your podcast: Are people aware your podcast exists?
• Improving your content: Is each episode better than the last?
• Engaging your audience: How are you building trust with your listeners?

Once you hit the 100-download mark, you can start experimenting with beginner monetization strategies, such as:

1. Self-Promotion: Mention your own products or services, offer freebies to grow your email list, and show listeners how to work with you.
2. Affiliate Marketing: Sign up for affiliate programs and promote products or services that align with your audience. It’s a great way to introduce ads without needing a large audience.

Intermediate Podcast Monetization (500 – 10,000 Downloads per Episode)

If you’re consistently getting 500-10,000 downloads in the first week of a new episode, it’s time to level up your monetization strategy. Here’s how:

1. Ads for Your Own Products or Services: Run clear, direct ads for your offerings. Don’t be vague—tell your audience what to do and where to go.
2. Industry-Specific Partnerships: Reach out to brands in your niche. At this stage, you’ll likely need to pursue these partnerships actively. Niche businesses benefit from working with podcasters who have a highly engaged audience.

Pro Tip: If you’re unsure how to get started with partnerships, check out episodes 14: How to Get Your First Podcast Sponsor and 16: How to Price Podcast Ads.

Advanced Podcast Monetization (10,000+ Downloads per Episode)

Once your podcast is pulling in 10,000-15,000 downloads per episode, you’re in the big leagues. This is where you should:

1. Create a Pricing Guide: Establish clear rates for potential advertisers. Having a well-designed rate card ready makes it easier to land deals.
2. Diversify Your Ad Acquisition: Start reaching out to larger brands and agencies that already work with podcasts. This will open up more opportunities for high-paying ads.
3. Paid Speaking Opportunities: Reach out to events, conferences and work with other industry leaders to speak at events virtually and in-person.
4. Ads for Your Own Products or Services: Run clear, direct ads for your offerings.

If you need help with a rate card template, I’ve created one after five years of refining it—you can find the link in the episode description.

The Biggest Mistake Podcasters Make

Monetizing your podcast is exciting, but it can also be risky. One of the biggest mistakes I see is podcasters focusing too much on selling and not enough on providing value. It’s like flying too close to the sun—if you lose focus on your audience, you’ll burn out your trust with them.

Take it from me: Monetization is not a quick or easy way to make money. Yes, you can make money podcasting, but if you don’t put your audience first, you won’t have an audience to monetize.

When Should You Monetize Your Podcast?

At the end of the day, monetizing your podcast is about balance. It’s about deciding when you want to and when you’re able to. Remember that trust is the foundation of any successful monetization strategy.

So, here’s your homework: Think about the podcasts that have influenced you. Have you ever bought something because a podcast host recommended it? What did it take for you to trust them enough to make a purchase?

Reflecting on your own journey as a listener will help you understand what it takes to convert your own audience from listeners into buyers.

FINAL THOUGHTS AND HOW TO GET STARTED

Whether you’re just starting or you’ve been podcasting for years, the decision to monetize comes down to this: Do you have the audience’s trust? If the answer is yes, go ahead and start exploring your monetization options. But remember, always put your listeners first.

Listen to the full episode on “When Should You Monetize Your Podcast” and listen to Ep. 14 on “How to Get Your First Podcast Sponsor” and Ep. 16 on “How to Price Your Podcast Ads“.

Get the Customizable Canva Pricing Guide I Use:
https://podcastsforprofit.com/products/podcast-media-kit-and-rate-card