Dan Martin
Author
Premium podcasters are getting premium paychecks for their voice and insights. Here’s a breakdown of some of the top-earning podcasters:
- Joe Rogan generated $30 million in 2015 through his The Joe Rogan Experience. The podcast is now exclusive on Spotify, with highlights on YouTube.
- Dave Ramsey earns $10 million annually from The Dave Ramsey Show. It is shared across 600 radio stations and other platforms.
The list of top earners is long. You should also learn how to monetize podcasts to increase your income. A subscription platform like Patreon can drive your podcast audience reach and revenue. You can also use a Patreon alternative to maximize your podcast pay.
According to AdvertiseCast, you can earn $18/30 seconds CPM or $25/60 seconds CPM. That is exclusive of other podcast monetization strategies like membership, affiliate marketing, selling courses, etc.
If you want to expand your market reach and revenue, you should choose the right subscription platform. It can help complement other platforms you’re currently using, whether Patreon, Spotify, etc.
Let’s discuss ways of selecting the right subscription platform for your podcast.
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1. Wider Audience Reach
Some of the top-earning podcasters leverage selling across several platforms. It allows them to widen their audience reach in untapped markets. It is excellent if Patreon or another platform works fine for your podcast.
But, leveling up your income may need leveraging other Patreon alternatives as well. The best shot is connecting your content with significant podcast players. So, go for the platform that gives you premium access to top markets.
An easier way to check that out is through the number of integration or connection your platform supports to other players.
Some can use RSS feeds to connect with other players. But other platforms like Spotify do not support RSS feeds. It will lock you out of listeners on it. In short, you may not push paid podcasts to platforms like Spotify if you’re using Patreon.
To avoid this, get a Patreon alternative that connects directly to major players without the tedious RSS feed. You can use it as the main roster for pushing your paid podcast to other platforms.
With access to premium players like Apple, Google, Spotify, etc., and smooth sign-up, you can relax and watch your income grow.
2. Value for Money
As much you want to give value to your listeners, you should also receive the same in return. We recommend subscription platforms with no hidden charges. But, most importantly, you should be able to keep more of your income.
Patreon platform fees range between 8%-12% alongside Stripe processing fees. Also included is a 2.5% currency conversion fee on every payout. It has three pricing packages, and the lowest one ($5/month) has limited features. In short, the more money you make, the less you get.
A platform that allows you to keep more of your money is better. If your platform of choice has value for money, then go with it. Podcasting takes a lot of time, dedication, and resources. So, if there is no value for money, then run.
3. Faster Sign-Up Process for Audience
A short and fast sign-up process will improve your audience experience. You don’t want to lose subscribers mid-way because of a longer registration process.
In short, a smooth, faster sign-up process makes them happier. It also makes it easier for you to move free listeners to subscription plans with a less or no frustrating experience. So, get a Patreon alternative with fast and hassle-free subscriber onboarding. It will attract more subscribers leading to more income revenue.
4. Ability to Customize Subscription Plans
Another vital factor is the platform’s flexibility when customizing subscription plans. The first aspect to check is the ability to set multiple plans, whether annually or monthly. Secondly, it should have provisions for donations, discounts, and gifts.
It makes it easy to customize your podcast experience to different audience segments. For example, you can offer discounts to free listeners to get them into paid listeners. Also, you can use gifts to reward your loyal paid listeners and drive a subscriber referral program.
Great platform flexibility helps you acquire, retain and engage with your audience.
5. Access to Your Audience Data
You can not effectively engage with your audience if you don’t understand them. First, the subscription platform should give you access to the critical subscriber data. Second, it should have a robust reporting and analytics dashboard.
Data is the new currency, and insights help prop up its value. You can’t reshape your subscription plans if you don’t know their status. Having listener and engagement statistics helps you know which plans are working and the ones that need changes.
But, you can’t customize changes without access to crucial audience data. Your chosen platform should grant access to subscriber data, including names, emails, and even credit cards. Above all, it should offer data portability.
Avoid it if the platform blocks access to critical subscriber data and limits its portability. You will not be able to own your most prized asset, audience data.
Look for a platform that gives full ownership of audience data and complete visibility of your subscription plans across it.
6. Better Audience Engagement Tools
Source: pixabay.com
Podcasts used to be a one-way communication channel, limiting deep and practical engagement. Recent strides in digital communication make engagement super easy.
Similarly, your chosen platform should offer several communication channels to support your podcasting. For example, it should have episode engagement. Also, it should have access to community apps like Slack or email integration. It will help in many ways:
- Subscribers can leave comments, questions for easy answering.
- Run email campaigns.
- Bring subscribers into one community for further engagement through Slack, Facebook groups, etc.
A better audience engagement helps turn free listeners into subscribers. It also helps keep them around long enough.
7. Multi-Show Support
Value comes with convenience. Multi-show support involves collectively providing multiple episodes or shows as a single offer. With multi-show provision, your subscribers can save time browsing for content. They will save on costs too.
Given its efficiency, it can be a great way to drive discounts and sales.
Take Away
You shouldn’t miss out on any opportunity to maximize your podcast earnings. Subscription platforms allow you to increase podcast audience reach and income. But choosing the right platform can improve your income.
Check out for its cost, smooth subscription registration, and engagement tools. It should offer both you and subscribers value for money, a smooth experience, and efficiency. The above factors will help choose the right podcast subscription platform.
Smart speakers and voice-activated devices are on the rise. Consider optimizing your podcast content for voice searches for broader reach.
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