A podcast is a recorded audio file that the audience can subscribe to and download on their smartphone or tablet. Then they can listen to it at their leisure. Although the podcast is free, most podcasters want to get some kind of financial return for their efforts.

Smart podcasters regularly discover new ways to make money from a podcast. Here are 5 proven ways you can try.

1. Create an email list

A podcast is a great way to build an email list of people who are genuinely interested in your niche or market. You can ask people to submit their email address before downloading the podcast or offer some kind of free bonus during the podcast. For example, you can offer a report or checklist that is related to the topic of your podcast. With this data, you can promote your products and services by email.

2. Affiliate Marketing

This is one of the easiest ways to make money from a podcast. Simply recommend products and services that you think offer good value to your audience. The companies that sell the items you recommend pay you a commission when someone buys something from them. You don’t have to store products or deal with customers. Basically, you act as an affiliate of that business, accumulating commissions when something is sold.

3. Sell your own products and services

Many companies produce a podcast to go along with their website and help market their products and services. Video podcasts are especially good for this, because you can show your prospects how things work without having to write explanations for them to interpret.

4. Sponsorship and advertising

You will need to get several thousand downloads for your podcast, before companies are ready to pay a sponsorship fee for your podcast or advertise their products and services during the show. You can determine how much you want to ask for sponsorship or advertising space on your podcasts, but the more downloads you have, the more you can charge.

5. Donations

If you’re broadcasting a podcast to give people your knowledge and experience for free, don’t worry about asking your listener to contribute a couple of dollars. If you provide high value to your listeners, your regulars will be happy to give you some money to help run your podcasts.