Podcasts have exploded. There are more than 700,000 active podcasts currently, up from 550,000 in 2018, according to Music Oomph.
And more podcasts are being launched every day. So it’s perfect timing that Patreon, a membership platform based that offers business tools for creators, has released “The Patreon Launch Guide for Podcasts” to launching a podcast.
The guide does have some good tips for newcomers to podcasts. “A successful launch has the potential to change your creative career and change your life. This is the blueprint to make it happen,” states the guide.
Listen to GHOGH with Jamarlin Martin | Episode 68: Jamarlin Martin Jamarlin talks about the recent backlash against Lebron James for not speaking up for Joshua Wong and the violent Hong Kong protestors.
How to make money on your podcast by having paid subscriptions. The guide lays out price and how to build and price your tiers when explaining your podcast and offerings for your listeners. “Less is more when it comes to the number of tiers, and the number of things offered in each tier, and how much text you use to describe each tier,” read the guide.
Using the guide you can see how much the top podcasts on Patreon charge for advertising and what they are offering. When producing your promotions materials and tiers, only include the most valuable things that your fans will receive. You can always add more offerings as the podcast matures.
Don’t undercharge for your podcast. Patreon advised avoiding a $1 tier. “When small amounts get processed, a larger percentage of it goes to credit card processing fees. At $1, around 30 percent of a payment goes to processing fees. So you only take home 70 cents,” the guide suggested. “So even if you get fewer patrons, you are more likely to earn much more if your lowest tier is in the $2 -$5 range, since a much lower percentage of each payment will go towards credit card fees.”
Promotion is key. Before you launch you should be promoting your podcast. And after you launch your promotions should continue for each episode. Promote by posting teasers on your main feed and social media platforms. Post “video” teasers for Instagram, Twitter, and YouTube.
“You can use a similar strategy to promote these episodes on social media. Audio clips alone aren’t very exciting and not very shareable, so we recommend turning them into a video version” explained the guide.
Any way you do it, promotion is important and valuable. According to the guide, “every time you release a paid episode, release a preview-teaser on your free podcast feed so all of the listeners to your free podcast know it was released and can see and hear what it is about.”
Also include a short preview pitch in the podcast. “Have a 30 second pitch that you use at the beginning, middle, and/or end of your free podcast. Remind listeners and tell new listeners about your page and what they can get if they join a tier,” stated the guide.
Set up goals. “Acquiring 5 new $5 patrons each week may not feel like a lot when it happens. It feels like you just earned $25. But remember, they became monthly subscribers, so in reality you have likely earned closer to $500. You will just receive spaced out over the next year. Remember that when thinking about where to invest your time,” offered the guide.
These tips might go a long way in making your podcast successful.
