Speaking on a podcast proves your knowledge and expertise in your niche. Once you’ve asserted yourself as an expert in your area, you can monetise this by using the podcast as a base for booking public speaking gigs, guest appearances on other podcasts, as a member on a panel or more.
Demonstrating your expertise via your podcast builds up a following of people who are eager to hear and learn more from you. You can create a course or series of courses to sell on your area of expertise.
When your podcast is linked to a business or your personal brand you can use it to drive a new source of organic traffic to your website to gather leads and in turn convert more sales.
Podcast audiences are ‘loyal, affluent and educated’ according to PodcastInsights.com. When you build up a committed audience they are more likely to buy podcast merchandise with your branding, taglines and catch phrases on it. They are also more likely to purchase your business’ products and services.
You can diversify your podcast into live events and sell tickets to your followers to attend a live show recording or other podcast related events.
Podcasts are a good way to test and develop ideas that if successful you could roll over to other media platforms such as books, films and TV shows.
Making sure you film your podcast episodes means that you can easily repurpose the content over all of your social media platforms: YouTube, TikTok, Instagram, Facebook etc. You can push these additional sources of traffic to your website to increase leads and sales.
Once you’ve established a good sized audience and following you can charge for sponsorship spaces on your podcast.