Achieving success with your podcast doesn’t come overnight. You’ve got to be in it for the long haul if you want to see growth. So how does one get their podcast to a level where they have a large fanbase and actually make money from it?
You need to figure out exactly how you want to grow your podcast. Whether you want to increase the number of listeners, convert listeners to an email list, or monetize your podcast, you still need to come up with a strategy that will help you meet your goals. Once you’ve established your objectives, you can devote your focus on how to get your podcast out there to the right people and expect to reach success at a faster rate.
To get more people to check out and listen to your podcast, it’s important to understand that podcast growth relies heavily on search engines. A good example of this would be to get your podcast to rank high on Google. One tool you can use to help you achieve this is Google Keyword Planner. This kind of software will help you research keywords and their search volumes that’ll aid with topic ideas and content optimization.
Converting Your Listeners to an Email List
Once you’ve got a good number of listeners, you should try to convert them to an email list so that you can acquire a higher consistency of these listeners revisiting and downloading your podcast. Email marketing services such as Mailchimp and ConvertKit will help you build your email list, and once you’ve constructed a respectable list, you need to figure out what value you can offer to your new subscribers. A newsletter, free course, or ebook - are some examples of the exclusive content you can give to your listeners in exchange for their email information.
Monetizing Your Podcast
Selling ads on your podcast is the most common way to make money from it. Advertising revenue is one of the easiest revenues to make considering you don’t have to create anything on your own to sell. Find a company that is willing to partner up and buy spots on your podcast and both parties will benefit financially from this collaboration. Another way to make money is by selling products that are related to your podcast. From physical products like t-shirts and other memorabilia to services such as online courses and transcribed episodes, there are a variety of things you can offer and sell to fans who might be looking for more than just audio content.
You’ve read about some of the tools and methods you can use to help your product grow. With any industry, it’s essential to be familiar with the trends that are current so that you can use them to your advantage in achieving growth and success. Let’s take a look at some of the trends in podcasting that have been helping shape the industry within the last couple of years.
Who is Listening to Podcasts?
More people are checking out podcasts nowadays, which means there are a lot of younger listeners with a broader taste which opens the door for more advertising and content. Here are some stats that reflect some of the differences between young listeners and those who have been listening for years:
Older listeners tend to listen to podcasts for 7.1 hours a week, while younger listeners are at 4.4 hours
Of the listeners who have been listening for years, 63% of them are 35-54 years old, while 66% of younger listeners are 18-34 years old
71% of older listeners are male, while there is more diversity and parity with younger listeners as it’s 50-50 with male and female listeners
36% of younger listeners are more likely to change from one podcast to another
19% of younger listeners are more likely to say that non-host-read ads are not a burden and are a good fit within the podcasts
Getting Creative with Podcasting
With the number of young listeners growing, podcast creators are honing in on the opportunity and finding new ways to appeal to their audience with fresh, original content. There are many different categories of podcasting, including ones that cater to a niche audience, that are rising with listenership:
With Simplecast podcasts, 16 of the top 50 top-downloaded are independent
True crime was the fastest-growing category in 2021 at 101%, with history (73%) and fiction (71%) coming in at 2nd and 3rd, respectively
Wrestling was the fastest-growing subcategory in 2021 at 109%, while stand-up comedy was just behind at 105%
All of these different types of podcasts are gaining traction, which means the creators are cashing in through their channels, such as their social media pages (34%), their websites (30%), and their youtube pages (23%).
Podcasts - New Medium for Advertising
As the industry continues to grow, advertisers are starting to realize that podcasting is becoming a new, and some would argue better, channel to promote some of their products and services. This is an excellent opportunity for creators to team up with a company that wants their audience to be familiar with whatever they’re selling.
Some of the biggest spenders in podcast advertising were retail direct-to-consumer, arts/entertainment & media, and financial services
The most contextual targeted audiences included doctors, businesses of all sizes, and new parents
SXM Media Podcast had a 16% increase in revenue from brand awareness podcast campaigns; an 86% increase in revenue from announcer-read ads
Opportunities in Podcasting
There will always be opportunities presenting themselves within this industry with all the people who will become avid podcast listeners in the years to come. With more listeners comes more content in demand which can then be monetized and help creators and networks build and define their brands.
Around 177 million people in the United States will have listened to a podcast
73% of Simplecast creators haven’t monetized their podcast, which leaves a lot more room for ad space and commercial spots
Some of the biggest audience opportunities include graphic designers, people who are interested in music, and people who are interested in live events
What’s the Next Step for You?
You’ve read about the tools that can help you grow your podcast and all the current trends in the industry, so now you need to figure out what kind of show or brand you want to be and find the right markets you want to tap into. The potential is too big to ignore, and even though you might not see immediate results, the podcast medium is one that is only going to continue to grow and your podcast can be the next one to be gaining popularity and achieve that growth you were seeking.
*Trends and statistics originally featured in the SXM media 2022 Podcast Trends Report
More About Anchored Media
At Anchored Media, we develop, produce and market high-quality revenue-generating podcasts that make a real difference in people’s lives and help brands connect to a broader audience — all from the ground up.
We teach podcasters how to find their voices and refine their messages.
We help them discover the value of their unique perspectives and guide them as they design signature styles that attract loyal followers and boost profits.
We give brands the tools they need to position their podcasts for exponential growth and long-term success.