The beauty of podcasting is that you can make it into whatever you would like it to be. Your podcast could be a hobby, a side hustle, or a profitable business. You might be surprised to learn that if you start and manage your podcast correctly, podcasting can earn you a lot of money. Starting to turn a podcast into a business is not a difficult thing to do. If you’re like the majority of casual podcast listeners, you’ve probably wondered what it takes to launch and grow a successful podcast. From the outside, it may appear to be a lot of fun, a lot of work, or both—but you won’t know what it’s really like to do until you try it.
How to Start a Podcast in 2024
Before jumping right into planning and launching your podcast, it is very important to determine your “Why”. Understanding why you want to start a podcast will not only encourage you to be consistent but will also direct the type of content you create. Researching and listening to other podcasts will make it easier for you to find out why you want to create a podcast.
1. Choose a Podcast Topic and Name
You may want to select a topic that you find interesting and aligns with your passion. That is a good way to start, but it is also important to consider a topic that is related to your motivation for creating a podcast. More importantly, consider your target audience and what you can offer them that is original. This is why it is a good idea to choose a niche topic. The more unique your topic, the more convenient you can plan content around it. When selecting a name, you should consider your target audience, branding, and SEO. You’ll want something that’s simple to remember while also fully explaining and befitting your brand and the topic of your podcast. Naturally, you should choose a name that is easily searchable, particularly in relation to your topic.
2. Choose a Format and Structure
I. Format
Consider the best method for conveying the topic of your podcast. If you’re podcasting about history, a documentary-style show may be appropriate, but if you’re podcasting about entrepreneurs, you’ll most likely want to host discussions with successful industry professionals. You can try out formats such as a co-hosted podcast, solo-host monologue, or storytelling narratives.
II. Structure
Structuring your podcast involves deciding on its duration and frequency. Choose the ideal length. It’s best to base your length on how much useful information you offer. A good general rule is to match your episode duration to your frequency of publication: If you publish nearly every day, keep it short and to the point (10 minutes is perfectly fine). If you publish once a week or twice each week, try to keep your posts between 30 and 50 minutes long. If you publish less frequently, your listeners are unlikely to mind if you go over an hour.
3. Create a Band for Your Podcast
Despite the fact that you should not judge a book by its cover, branding is important in attracting listeners. Consider the kind of audience you want to reach, the emotions you would like your brand to evoke in others, and the image you want your podcast to have. After you’ve considered this, you can begin designing your logo and brand name. Logos can help your podcast appear more professional. They establish a consistent brand across all of your podcast platforms. Cover art is how podcast directories will display your show. This should include your podcast’s name for easy recognition, but it also needs to reflect your brand and catch people’s attention.
4. Set Up Your Recording Equipment and Editing Software
The next step is to determine and set up your equipment for recording. It is possible that you can record audio on your existing computer, tablet, or phone. Most podcasters, however, suggest investing in a different podcast microphone for a better and clear sound. The easiest way to record a podcast is to make use of a recording software. If you have an Apple device, GarageBand is a great free option, as is Audacity, which is free on any device. Alternatively, you can purchase premium software such as Logic Pro X or Adobe Audition.
5. Record Episodes and Publish Your Podcast
Once your equipment is set, you can start recording. Depending on what you think, you can write scripts beforehand, so as to help you know what to say ahead of time. Even if you write a script, you will almost certainly have to pause, re-record, and edit the audio to create a final version. Like everything else, the more you practice, the better you will become. Podcasting itself is a skill that requires time and practice to master. Once you’ve completed your podcast, what you have to do next is to upload it to your preferred podcast platforms.
6. Promote Your Podcast
You can try a variety of podcast marketing and advertising strategies. You may decide to invest in audio SEO to improve your search engine rankings, make a podcast website, use a podcast promotion platform or network service, team up with other podcasters, or any other promotional idea. It is all up to you.
How To Make Money from Your Podcast
There are many ways one can make money from podcasting. As a podcaster, it is very important to have more than one revenue stream.
1. Sponsorships and Advertisements
A very common way to monetize your podcast is through sponsorships, where a brand or a company pays you to advertise them on your podcast. This is done by the podcast host discussing the sponsor’s product or service, though you can also insert a pre-recorded ad from the sponsor if that is preferred.
2. Donations
Asking your listeners for donations is perhaps the most straightforward way to monetize your podcast. Listeners who are dedicated and supportive can donate to your podcast via platforms such as Patreon or GoFundMe.
3. Affiliate Programs
As an extension of sponsored ads, brands for which you run advertisements may provide you with an exclusive discount code for your audience to use. You could then earn a commission every time someone uses your discount code at the checkout when making a purchase. To encourage more use, include affiliate codes in your video’s description and on social media.
Conclusion
Starting a podcast is a lucrative venture, but it requires careful planning. From choosing a topic and name to selecting a format and structure, creating a brand, and setting up recording equipment, every step is crucial in creating a successful podcast. Once your podcast is up and running, promote it across different platforms to gain attention.
