How to Start a Profitable Podcast – Starting a podcast is a great business idea for anyone looking to expand their audience, as well as their market reach.
Podcasting is the perfect, fun and affordable way to promote your business and connect with a potentially unlimited number of interested people around the world.
The challenge for many of those who are interested in starting podcasts is that the technical knowledge and logistics can be so complicated. Although, there are some important things to know, starting a podcast is not difficult if you know the right thing to do.
Here, our guide on how to start a profitable podcast in 7 simple steps covers all the important information you need to decide if this business is good for you. Learn more about the podcasting business, step by step guide how to start, grow your podcasts, and earn from it.
What is a Podcast and How Does it Help?
Basically, a podcast is a digital audio file made available online for download on a computer or mobile device, of which can be received automatically by subscribers.
Podcasting is a great way to build an intimate relationship with listeners and connect with potential customers. They hear you speak, one on one, which helps you build relationship with them in a way that your written content can’t.
Starting a podcast is a great way to reach your target audience, whether for your own business or to help other businesses along the way. You can drive traffic to your online store, through backlinks in podcast directories as well as directing your listeners to visit your site at the end of each episode.
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How to Start a Profitable Podcast in 7 Simple Steps
1. Find Your Niche.
Choosing a niche for your podcast is essential. A niche is simply an area of focus or subject of interest. You want your podcast to focus on a particular topic or niche, this must be something you are genuinely interested in.
Try to narrow it down to something you can openly talk about for many episodes, but it’s not so broad that it does not attract your potential audience.
2. Define Your Purpose.
If I may ask, what triggers you to invest your resources and sacrifice your energy to pursue this venture?
Amongst the most important discoveries you will make in life is finding your purpose, the reason your being, the purpose for which you are going out of bed every day. The same applies to your business venture.
A clear purpose leads to a clear value. Purpose guides and helps you apply the correct processes and actions to help you achieve your goals. Put your deepest motivation on paper as each episode should flow from that purpose.
3. Know your Audience.
Having a well-defined target market is more important now than ever. Targeting a specific audience does not mean that you exclude people who do not fit your criteria.
Targeted audience instead allows you to focus your branding on a specific audience that is more likely to hear from you than others. It is a much more affordable and effective way to reach a potential audience and generate business.
4. Name your Podcast.
One of the most potentially observable challenging steps to starting a business is choosing a business name. For some, choosing a business name is the first step that is already solved because it is simple and obvious to the business owner. For others, it is a struggle to identify a business name that truly involves the business and everything it represents.
What’s in a name? A lot. The right name can make your business the talk of the city. The wrong one can doom it to opacity. Ideally, your name should reflect the expertise, value, and uniqueness of the product or service you offer.
5. Get Your Tools and Equipment Ready.
You want quality equipment to ensure quality sound and editing. Here are the items you need to record your podcast.
This is the most important part of it. We recommend that you allocate as much as your budget to your microphone, as it will most affect the sound quality of your podcasts. You need something that effectively suppresses the background sounds while delivering broadcast quality that is free of delay or jitter.
Unlike video editing, audio editing does not require a lot of processing power. You can therefore use any Windows, Mac, or Chromebook computer. If you need a new computer, we recommend you invest in one with decent memory and processing power for good overall performance.
- Audio Editing Software.
You need software that can eliminate background noise, remove unwanted sounds, and add background music, among other features. Audacity has been a long time affordable option for recording and editing. It offers many features, such as live audio recording, splicing, editing and file conversion in various formats.
Audio files are huge, podcast can take up to hundreds of megabytes in storage depending on length, so you need a place where you can store them.
Even though you have a website with a hosting service that allows you store files, it’s still recommended that you get a different host for your podcasts. Libsyn and SoundCloud have always remained the two most popular options.
This is where the audience can have direct access to your podcasts. Your website will also serve as your primary marketing tool, helping you generate more revenue through banner ads and affiliate links.
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6. Produce Your Podcast.
- Create your intro and outro.
These are the music and spoken segments that will apply in every show. Don’t make them too long, people are waiting and they are eager to hear the message. So, don’t make them wait too long.
- Script your show.
The most interesting podcasts are conversational in nature. So, even if you want a script to stay focused and avoid the stammering, you do not want to read your show. If you are going to interview a guest, ask questions or share them in advance so that you know what will be covered.
- Edit your show.
Your goal is to level the sound, improve the sound quality, reduce static problems and cut your broadcast segments. Make sure your audio editing software is able to handle these tasks.
- Tag the audio (MP3) of your program.
It is not enough to name the file with the name of your program and episode. You want to tag it so that these names also appear on people’s podcast listening devices. You can also edit your podcast graphics here.
- Upload your podcast to your host.
Use your host’s instructions to upload your show.
7. Share Your Podcast
Once your show is up, its high time listeners got to hear. Here’s the step.
- Embed the show on your website.
As you can see, your website plays important roles to your success in the podcasting business. Most hosts will provide you with a code that will allow users to click on play and listen to show right from your website or even download them if they want to listen to it that way.
The best way to do this is to have a blog post about your show, add code, show notes, and any other information that goes with the show.
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- Add your show to podcast directories.
- Share your show on social media.
If you really want to make a successful business from your podcast, then you must be ready to promote it to a greater level. Social media is one of the best places to do this.
You can do so, by sharing your ideas as regards your podcast, add links that will allow users to click and download your podcast or even take them to your website where they can easily play and listen to show right from your website.
- Include information about your show in your newsletter.
- Add slides or graphics and turn your audio into a video to share on YouTube. Or consider doing a videocast from the beginning.
With this guide, you can work on making your podcasting business a success.
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