Whether you are an independent creator or business working on branding, podcasting is one of the best marketing tools for your brand in this digital age. The human voice can establish a sense of trust that provides your listeners with a guarantee that they are receiving the best advice from industry experts.
However, as technology evolves at a rapid pace, the way the audience engages with brands is changing fast as well. When you record a podcast and then release it, it becomes a pre-recorded podcast which loses its “realness”. When trust becomes a key issue, the success of your podcast and your brand reputation can falter. But fret, not. There is a solution to this: Live podcasts.
What are live podcasts?
Live podcasts are similar to traditional podcasts, but it is more like a radio show. Live stream podcasts are shows that are broadcasted live to viewers who are listening to your podcasts as you record it. Live podcasts are broadcasted live through different online software. Live podcasting can help you establish a very loyal following who are your brand advocates.
The benefits of live podcasting don’t end there. Not just new users and branding, live streaming also offers opportunities to monetize your live content, regardless of the size of your listenership. Even with a few hundred listeners, you have opportunities to earn decent revenue from selling live show tickets to receiving gifts during your live show. Live podcasting is a smart way to make money as the content can be repurposed again and again.
How to create a live stream podcast?
Creating a professional-grade live stream podcast is not as simple as it sounds. Even for a single episode of live podcasts, the number of tasks you need to perform from recording to publishing is more. To create the best quality live stream podcasts, it is important to know how to setup live streaming.
Here are some of the significant aspects of starting your own live podcasting.
Essential equipment and software for live stream podcasts
Good live podcasting equipment and software are essential for quality production. If you really want to build a solid user base, you need to invest in equipment to release live episodes on a consistent basis. Start with planning how your live stream podcasts will be recorded so that you can easily choose the right equipment. Consider cost, quality, and usability to pick the right essentials to power your live stream podcasts. To start with, you need a computer, good quality microphones, and audio editing software.
The basic requirement to live stream podcasts to your followers, you need a computer that can support your equipment and software you use. You can either record the podcasts on a recording device or directly on your computer but make sure your computer has the right port to support it. If you are using analog microphones your computer must have an audio-jack or a USB port. On the other hand, if you are using USB microphones, your computer needs to have open USB ports.
While you can use any type of microphones to record your live podcasts, it is important to use the best quality microphones. Listeners would be able to clearly tell the difference between low quality and high-quality microphones.
For example, condenser microphones are suitable for studio recordings as they are more sensitive to sounds. They pick up background noise very easily, so that make sure you use these types of microphones only when recording your podcasts in a studio. On the other hand, if you don’t have a studio set up, you can use dynamic microphones that just pick up the sound in front of them. They are not only durable, but they also don’t pick up unwanted noise and offer better quality sound as opposed to condenser microphones.
- Audio editing software
Once you know how to setup live streaming, the next important step is to find the best audio editing software. To stream professional-quality live stream podcasts, invest in podcasting software. You can also start with free open-source software like LMMS or Audacity according to your live podcasting needs. However, if you want to have an advanced software setup, pick a good editing software that comes with great features and functionalities.
Choose a niche
Just like blogs, there is a never-ending list of podcasts about anything and everything. However, if you want to build a brand around your podcasts and monetize your content, you need to find a niche that you are passionate about instead of live streaming about random topics.
Discover your passion and choose a niche that compliments it to create a decent listener base. If you struggle to find a relevant niche, start by doing some research to find out whether there is an audience for the subjects you want to talk about. For example, if you want to create podcasts where you will talk about health in general, try narrowing down it to a niche topic that can make your creations more specific.
Monetizing live stream podcasts
Producing a show takes real work and to keep the show running, you need to find ways to make it work for you too. The truth is most live stream podcasts take years to start generating revenue or don’t make any money at all. And once it starts bringing in revenue, it can even help you make thousands of dollars for an episode on average which is really great.
If you have already got a successful live stream podcasting, you have every right to monetize your podcasts to compensate for your efforts. Here are some of the ways to generate revenue with your live podcasts.
Referral sponsorships are a great way for podcasters to get started making money as this doesn’t require you to have a minimum number of listeners to start. All you need is a product or service you can recommend to your listeners with a referral link.
While traditional sponsorships will just earn you a flat fee, referral sponsorship will help you get that upside potential to continue earning for a couple of months or even years down the road as more listeners download back episodes of live podcasts. Referral sponsorships also give listeners the perception that the show is perhaps bigger than it really is, which helps to build genuine credibility and authority.
In affiliate programs, you place affiliate links to third-party websites in your live podcasts. When sales are made through an affiliate link you place in your podcasts, you generate commissions from the link. The value of these marketing campaigns can be improved by offering additional exposure by including them in the weekly newsletters, blogs, and social media. You can also upcharge your clients for this added exposure to your follower base. To start with, you can use Amazon, which is the best affiliate program that can be used to encourage your listeners to click the link and make a purchase.
Sell your own products and services to listeners
Selling your own products is yet another amazing way to monetize your live stream podcasts. If you aim to sell your products through your live podcasts, make sure you build an audience that is interested in buying these products and services so that it becomes easy to sell to them in the future.
To monetize your live podcasts, creating additional premium content that can only be accessed behind a paywall is another great option. Premium content can be anything from an image gallery, videos, or a bonus episode. You can provide your listeners with a recurring membership that gives them access to your premium content. Use social media, members-only newsletter, etc. to entice your listeners to buy a premium membership.
Generating a decent revenue from live podcasting is not automatic, it requires some serious efforts. Even experienced podcasters take a lot of time to get things to click. With that being said, starting and building a live stream podcast is a great way for anyone to reach their target audience offer valuable content, and make money in the process.
When released on a consistent basis, live stream podcasts perform the best and deliver great results. Develop a solid listener base, create a strategy, and be prepared with ready-to-release episodes consistently to generate a significant amount of revenue from your live stream podcasts.
Pre-recorded podcast loses its “realness” over time, especially when trust becomes a key issue, the success of your podcast and brand reputation can falter along the way, but there is a solution, enter Live stream podcasts.