5 Reasons You Make Money With a Podcast Over Other Platforms

August 17, 2022

teal background and image with dark-haired woman smiling holding microphone with title 5 reasons why podcasts are better than other platforms for making money. stefaniegass.com/blog

Have you ever wondered if you should start a podcast? Is hosting a podcast for business growth worth the effort? Why not use other platforms like blogging, video, or social media? Can you even make money with a podcast? If you’ve ever asked any of these questions or are generally curious about how podcasting stacks up against the other platforms, this is the blog for you!

Podcasting has been one of the best decisions I have ever made for my business. Podcasting can grow your business massively because it creates trust with your audience. I’m excited to share with you the five reasons podcasting beats every other platform for making money.

5 Reasons you can make money with a podcast (even over other platforms!)

1. Lower levels of saturation in podcasting are good for business growth

While podcasting can feel oversaturated, it’s still on the upward rise of the bell curve, where there is a good ratio of listeners to podcasts. These statistics are from podcastinsights.com and show that podcasting is much less saturated and with better engagement than other platforms, which is great for business growth. Broken down that looks like this:

50% of homes listen to podcasts which is 60 million homes.
While this is less than Instagram, there is also less competition.
There has been 157% growth in the podcasting space since 2014, and it’s still going.
80% of podcast listeners listen to the entire or majority of each weekly show – this means you’ve got excellent listener loyalty regardless of the episode’s length.
These statistics are great news compared to social media, where people have a tiny attention span (maybe 3-5 seconds) and rarely read the entire caption, let alone engage with your content for 10, 15, or 30 minutes at a time.

Overall, these statistics show podcasting is on the rise, including listenership and listener loyalty. This is great news for business growth as these elements are super important for not only engagement but also sales when you decide to market on the podcast.

2. Podcast listeners on average, listen to 7 + shows per week, which is a great opportunity for business growth.

The industry is on the rise: The average number of podcasts each listener listens to is rising, which creates an excellent opportunity for business growth.
Listening to multiple shows each week also demonstrates listener loyalty. It also shows that people are willing to engage with and consume podcasts which is great if you want to make money with a podcast.

gold splatter background with quote 45% of podcast listeners have a household income of over a quarter of a million dollars. Talk about consumer buying power! -Stefanie Gass

3. You can make money with a podcast over other platforms due to consumer buying power.

These statistics are from nealschaffer.com

45% of podcast listeners have a household income of over $250,000. That is massive consumer buying power!
People come to the podcasting space to learn, solve problems, and be educated. This sort of person values personal development and is willing to buy a course or other resources.
You cannot find this demographic, positioning, or at the very least, the mindset on other apps.

4. Speaking directly to your niche market helps you to make money with a podcast more easily

When someone loves your podcast, they subscribe. Subscribing means they are listening to your podcast more, which in turn builds a relationship with you. As that relationship grows, they begin to love and trust you, making them a perfect ideal client.

Interestingly, people mostly listen to podcasts while doing housework (59%), driving (51%), or walking (46%). These demographics may show a hard worker, a professional, or maybe a mom, an entrepreneur, or someone who cares about their fitness.

That shows that people who listen to podcasts care, whether that’s about their health, house, or personal development. This is great news because regardless of your podcast topic, it will fall under personal development; it doesn’t matter what you’re teaching, from homeschooling to macro eating plans, it’s still a form of personal growth for the listener.

We want to attract people who care and are willing to work hard because they are willing to do the work required to achieve their goals. These people will benefit from your podcast and, in return, be willing to invest in the products or services you offer.

5. Consumer mindset is primed to purchase from you

69% of podcast listeners said they had been introduced to new products or services that they use by their favorite podcasts. That means they are not only listening to our shows but also open to our recommendations because they like and trust us.
This is much higher than on social media, where engagement and conversion are very low.

teal and gold splatter background with quote there has been 157% growth in the podcasting space since 2014, and it's still going. -Stefanie Gass

Make money with a podcast over other platforms for faster business growth

Why should I choose podcasting over TikTok, YouTube, Instagram reels, Facebook lives, or blogging?

Let’s say you commit to podcasting today, and I teach you how to start your scalable and successful podcast within my course Podcast Pro University. It might take you a year or two or three, but eventually, you’ll hit 10,000 and then 100,000 downloads.
It will take time, but if you stick with consistent podcasting, you will eventually achieve these numbers.
Consider if you convert 2% (which is a super conservative number); you now have achieved 2000 sales! This could be from your course, coaching, or even a program.
If the product sells for $97, this works out to be $194,000! Or if the product was $397, you’ve just made $794,000!
You just don’t get this kind of revenue or return on any other platform as your content moves down the feed so fast! With podcasting, your content is there forever.

These numbers show your amazing ability to make money with a podcast! No other platform allows you to create that level of relationship and loyalty with a demographic of people who want to learn, care about themselves, and are willing to put in the hard work required to reach their goals. This is why I love podcasting so much and why I’m so excited to see you grow your business and get the freedom you’ve always dreamed of through podcasting! I pray this has helped you.

If you have any other questions or wins from creating your podcast, let us know in the comments below. We’d love to hear from you!

I pray this blesses you!

Xo,

Stef

P.S. Listen to podcast episode 327 for the full training on Make Money With a Podcast? 5 Reasons Podcasting is More Profitable than any other platform