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November 25, 2024 16 mins

Do you ever wonder how podcasters ACTUALLY make money? Take it from a full time podcaster, it might not be what you're expecting. In this episode, I’m telling you everything—the what, when, and how behind the five income streams I’m using to monetize my podcast in 2025. 

I’ll walk you through real examples from my business, including soft pitches, digital products, affiliate marketing, speaking engagements, and a first look at my upcoming courses. Whether you’re just starting podcasting or ready to go full time, there’s something in this episode for you!


💡 Want to sell a digital product but you don't know what to make?
Use my free tool that sends you 10 ideas made for YOUR podcast:
https://form.jotform.com/Morgan_Franklin/podcast-digital-product


Do you want to leverage your podcast and professional experience to speak at conferences? Listen to episode 17 here.

In this episode:
The 5 monetization strategies I'm taking with me from 2024 to 2025 (plus, how you can use them).
Why you need a digital product  and how to start selling it. 

Why you need to pitching your services in every episode (and how to do it without being annoying). 

What I'm trying in 2025: digital courses, automation and done for you services. 


📌 Work with Me 1:1 for Podcast Coaching and Development:
https://morganfranklin.media/contact-morgan-franklin

👩🏻‍💻 Shop My Podcast Template Store:
https://podcastsforprofit.com

👋🏽 Let's connect! You can find me on LinkedIn, Pinterest, Instagram, Threads, and TikTok.

🙋🏻‍♀️ Questions? Comments? Ideas? Message Me:
morgan@morganfranklin.media

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Transcript

Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Morgan Franklin (00:01):
This episode is for all my podcasters who learn
from experience, because youknow what I'm the exact same
way. You can tell me strategiesand concepts all day long. But
unless you're gonna hit me withthe how, what, when, where, I'm
probably not gonna understandwhat to do in this episode, I'll
be walking you through every wayI'm monetizing my podcast this

(00:23):
year, 2025 and warning, a few ofthese are kind of a combination
of my business and my podcast,but at this point, they're so
interconnected that it's hard todifferentiate one from the
other. So I'll kind of beshowing you how I'm using the
podcast to achieve my overallbusiness goals. Hello and
welcome to podcast for profit.My name is Morgan Franklin. I'm

(00:46):
a Podcast Producer, strategistand educator. This podcast will
help you create and grow apodcast that cuts through the
noise of social media and speaksdirectly to your target
audience. If you're ready tocreate a podcast that will align
you with the experts in yourindustry, position yourself as a
trusted leader and createanother source of revenue for

(01:09):
your business. You're in theright place. Before we get into
the episode, I just want toremind you, I know that I said
this in last week's episode, butit took me years to make a dime
on podcasting that wasn't forme, producing podcasts for other
people. I wanted to share thatin earnest, because it takes
dedication to nurture anaudience and to find their pain

(01:29):
points and to create productsand then create content around
those products and to promotethe content and products. So I'm
not saying you can't do it. Youcan. You absolutely can. But if
it was easy, everybody would bedoing it. Remember to take your
time. Progress is still growth,no matter how small, and most of

(01:50):
the time, small change over timeis much more impactful than a
big change. Once in a while,we're going to talk about five
income sources today, and like Isaid, these are both directly
and indirectly from my podcast.And I'm going to be as
transparent as possible on howthese work, what I do, and how

(02:12):
I'm doing it. So if you want tocopy this same model for your
podcast, you absolutely can.We'll start at the top. So how
do I make the most moneypodcasting and from my podcast
Since 2021 when I startedpodcasting full time, my main
source of revenue comes fromongoing yearly contracts with
podcasts that I produce, manageand do virtual consultations or

(02:36):
production for this willnormally bring in anywhere from
60 to 75% of the total revenueof my business, so most of it,
and I think that it's worthmentioning that my main source
of advertising and marketing forthese services that I just
talked about that makes 60 to75% of my revenue is this
podcast, and that's why I sayit's Not directly money made

(03:00):
from the podcast, but it is in asense, I'm using my podcast to
grow my audience and nurture myaudience and pitch my services.
If you're a service basedbusiness and you have an
industry specific podcast, thereis no reason you aren't pitching
yourself and your services inevery single episode, I'd say,

(03:25):
preferably a soft pitch betweenthe beginning and middle of the
episode and a hard pitch at theend of the episode. A soft pitch
might look like kind of talkingabout a client that you're
currently working with toachieve X, Y and Z, while a hard
pitch at the end is telling thelistener, like, where can you
buy? What can you buy? And, moreimportantly, why should you buy

(03:49):
it? If you aren't pitching yourservices on every episode, you
are leaving so much money on thetable. You know why? Because
most of your audience doesn'tlisten to every single episode.
I know that's so sad, but it'strue, most of our audience only
listens to the episodes thateither they want to listen to or
they feel like pertains to them.Also, most of your audience is

(04:11):
only retaining about 60% of whatyou're saying. So keep that in
mind. Also, the thing that Ibring up every episode, which is
that most of your audience needsto hear about a product eight to
12 times before they buy. Solet's say that you only bring it
up once a month in episodes.That would take you a whole
year. If someone was listeningto every single episode, which,

(04:33):
like we just said, they'reprobably not, it would take them
a whole year to buy from you.That's a long time. That's a
long lead time continuing withproducts and services of my own
that I'm selling. Also I amselling digital products from my
podcast and through mypodcasting connections. This is
again, not directly through thepodcast itself, but it is

(04:55):
facilitated by bringingawareness from the podcast. I
said, is my number oneadvertising and marketing
source. So I'd say that digitalproducts at this time probably
make up five to 10% of my totalrevenue, and that's partially
because I just launched mydigital shop in August of this
year, and because I only havefive products currently.

(05:16):
However, that being said, I knowpeople who make half of their
yearly revenue from one digitalproduct. So don't let that hold
you back. If you only have onedigital product, that is okay.
Also, if you're thinking, whatis a digital product? In my
case, that's my templates thatare like, for example, my

(05:38):
customizable podcast media kitor Instagram templates. So I
have made those from the thingsthat I have posted and have
actually worked for me or sentto companies and they've
actually worked for me. So Iturned it into a template so
that other podcasters could useit. I think that that is
something that is really helpfulto think about when you're

(06:00):
trying to think about what youwant your digital products to
be. Because, in my opinion, themost important thing for you to
think about when you're creatinga digital product to sell on
your podcast is to think aboutwhy your listener is listening
to your show. Specifically, whatdo you bring to them as the
audience they can't get anywhereelse. When you think about that,

(06:24):
and you have an idea of whatthat could be, then think about
one problem you can solve forthem, or, better yet, as I was
saying earlier, a problem thatyou have already solved for
yourself. That's exactly what Idid when it came to me trying to
figure out what products I wasgonna sell in my digital shop

(06:44):
and what I was gonna make. Ithought about what I needed as a
podcaster, especially in thebeginning, what did I wish that
I had? If you're hearing allthis and you're still thinking,
I have no idea what kind ofdigital product I would make,
but I know that I wanna makeone. I have a really cool tool
for you to use, and if you'rethinking about launching a

(07:04):
digital product in 2025 all youhave to do is fill out a little
bit about your podcast and youraudience, and it will take all
that information and a littlebit of magic for me, and it will
email you 10 ideas for Digitalproducts that you can create and
sell in 2025 that arepersonalized to you, your

(07:26):
audience and your podcast. It isso incredible. I was using it
yesterday, and I was like, I amso excited to give this to them.
So yeah, definitely check itout. The form will be in the
episode description if you'reinterested in selling a digital
product through your podcastnext week's episode is going to
be all about digital products.So make sure that you're

(07:47):
subscribed to this podcast, ifyou aren't already, and be on
the lookout for that nextepisode, because it's going to
be all about digital products.How to sell digital products,
what you need to know about youraudience, what you can expect,
basically everything I wish thatI had known when I started
creating and then selling adigital product through my
podcast. My third revenue streamfor my podcast in 2025 is

(08:10):
affiliate marketing. Andaffiliate marketing, for me is
kind of tricky, because I'm notreally the kind of person who
will push just any brand orbrands that I don't actually use
people who do that make a lotmore money than me at affiliate
marketing, and if that'ssomething that you're interested
in, go for it. But for me, Ifind that it's really hard to
sell something I'm notpersonally bought into and that

(08:32):
I don't love myself. Because ifI'm being honest, there's enough
things that I buy and love thatit would be really hard for me
to then be selling somethingthat I'm just totally not
interested in. For my affiliatemarketing, the majority of my
sales come from Amazon, sothat's usually recommending
podcasting equipment, podcastsoftware and technologies, and

(08:53):
then also vendor referrals. I'dsay, all in all, this makes up
less than 5% of my revenuethroughout the year, but I will
say that it's some of the mostexciting money to make, because
most of the time I'm notpersonally doing any work to
make that money, other than justrecommending things from time to
time. So yes, it's a smallamount of money, but it's also a

(09:14):
small amount of work too, whichwe really like. So some people
make almost their entire yearlyrevenue off of recommending
products. And you know, that's awhole industry in itself, but if
you're a podcaster who is new topodcasting, and you are trying
to find a way to monetize yourpodcast, I think that affiliate
marketing is a great place tostart, since there's, like, a

(09:36):
really low barrier to entry, andthe companies that you're
working on behalf of don't haveto pay you any money unless you
make money off a sale. Most ofthe time, these companies will
give even really small creatorsa chance. So why not? Why not
just try spend some timereaching out to brands that you
like, tell them about youraudience and your podcast and

(09:58):
why you love their. Brand whyyou love using their products,
and ask them if they have anykind of affiliate program. Just
tell them honestly, like, Hey, Ilove your brand. And then just
see where that goes. A smalllittle tip that I'll give here
is I usually email instead ofDMing, I find that an email is
much more formal and puttogether than a DM they get so

(10:19):
many DMS already, so try to finda partnership's email. Try to
find someone in PR or sales andsend them an email. The fourth
way that I'm making money frommy podcast in 2025 is speaking
at conferences and live events.And I know that this isn't
directly through my podcastagain, but the podcast is what

(10:40):
opened the door to let me speakat these conferences in the
first place. So let me explainnow how I make money off of
this. Because you're probablythinking, how do people make
money doing this? The first wayis having a speaking fee. Okay?
And it depends if I'm applyingto speak for free, or they are

(11:00):
recruiting me to speak for afee. So honestly, it doesn't
really matter, because eitherway, I'm gonna make money.
Obviously, getting paid aspeaking fee is one thing, and
that's a predetermined amountthat I'll establish ahead of
time with the conference, andI'll get paid that amount of
money. But for a conference thatI'm speaking at for free, I'll

(11:21):
make money through a salesfunnel that I set up when I'm
speaking. So let's say, forexample, next year, this is
true, I'm going to a conferenceabout podcasting, and I'm going
to speak on Pinterest forpodcasters. So during the middle
to end of that presentation,I'll have a QR code for free
Pinterest graphics to use, sotemplates that people can use on

(11:42):
Canva that I've used and got1000s of clicks on, so great.
The audience is gonna getsomething for free. After that,
I'll add them to my email list,and so that will start an
automated welcome sequence thatis selling them another product,
probably pertaining toPinterest, as well as hiring me
for their consultation servicesand working with their podcast.

(12:04):
So since I just met and workedwith all these people face to
face, the conversion rate isjust so much higher than a
normal lead, because we'vealready met in real life and
I've already created value forthem and their podcast. We
already know each other, andthat is just so powerful,
especially in the digital agedoing in person events. I know

(12:27):
people say this over and over,but doing in person events is
worth it. I meant to say thisearlier, but I'd say that
revenue from my speakingengagements brings me anywhere
from I'd say, 10 to 20% of myyearly revenue, if you are
interested in learning moreabout how to make money from
speaking engagements that youleverage through your podcast,

(12:47):
listen to episode 17 of thispodcast, how to leverage your
podcast for paid speakingopportunities. I will link it in
the episode description, but itis a really good one to kind of
teach you about how to look forconferences, and also what you
need to do to get in touch withthese people, to be on their
radar to start speaking atconferences. So that's a great

(13:10):
episode. Okay, so up to thispoint, we've only talked about
things that I've done in 2024that I'm also going to be doing
in 2025 now I want to talk aboutthe new things that I'm gonna be
doing in 2025 to make moneythrough this podcast. Let's
start with course creation. Ihave three courses currently in

(13:30):
progress to be launched in 2025I am so beyond excited, because
these are going to be incrediblyvaluable to you as a podcaster.
They have both video componentsand downloads for each section,
so it will actually be able towalk you through each of these,
especially if you're a visuallearner like me, so you can

(13:51):
really see, okay, this is what Ineed to do again. They say that
you only retain about 60% ofwhat you hear. So I'm very
excited to finally be launchingthese courses for you to walk
you through step by step. How doyou do this stuff? I'm gonna
keep two of them a surprise fornow, but the first one that I'm
launching will be aboutPinterest and using Pinterest

(14:12):
for your podcast. I've had overhalf a million views on my pins
since February on a brand newaccount. It's the number one
lead source, after Google on mywebsite, the average person
spends 23 minutes on my website,if they came from Pinterest. Is
that not insane? I want to teachyou how to use Pinterest for

(14:32):
your podcast so you can stopstressing about posting five
times a week on social media andpeople still not listen to your
new episodes. Pinterest isamazing because the pins
circulate for two years. I knowI have a whole episode about
this, but whereas Instagram isusually about two days, I'll
take the two years. In additionto courses, I'm also launching

(14:56):
automations for podcasters. Sothis is gonna look like a. Few
different things, but like thedigital product tool that I told
you about earlier, these toolsand systems will be to make your
life easier as a podcaster.Podcasting takes so much time,
so I just want to help you tofigure out how to grow and
monetize your podcast and save alittle bit of time along the

(15:19):
way. Also be working withpodcasters to implement these
automations into their podcast.So like we say, AI is not going
to replace you, but people whouse AI will, and I want you to
be the person using AI. I'd loveto hear from you on how you are
planning to monetize yourpodcast in 2025 send me a DM,

(15:41):
send me an email. It's Morgan atMorgan Franklin dot media, if
you need help making a game planfor how to monetize your podcast
in 2025 send me a DM, send me anemail. I'll have my contact
information in the episodedescription. You can go ahead
and schedule an exploratory callfor free on there. And as

(16:02):
always, I can't wait to listento your podcast. Hey, thank you
so much for joining me on thisepisode. If you enjoyed the
podcast and you'd like to hearmore episodes like this one, go
ahead and subscribe to the show.New episodes air every Monday
morning. And if you've foundthis episode valuable and you
want to help other businessowners and podcasters, we leave
me a five star review. It helpsthe show rank higher in the

(16:25):
charts and brings moreentrepreneurs the information
they need to start making moneyon their podcast.
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