A podcast has been a tool for discovery, brand development, and audience engagement, but monetizing is not what podcasts have been used for, unless you have a massive audience and sell ads or you were part of something like Patreon.
That has been true until now.
The two biggest podcast platforms, Apple and Spotify, have announced that they will start supporting paid podcasts. This means podcasts can now opt in to making certain episodes or even all of their episodes a "paid-for" experience.
While the most obvious application is a paid membership option for a niche podcast, there is something that most nonprofits and content providers should consider.
Giving people who engage with your podcast content an opportunity to engage financially directly withyour nonprofit or cause without having to go off the platform to do it can be a game-changer. They quickly commit to a level of loyalty with your organization by opting into paid content (and they feel good doing it).
Clubhouse has just released a feature that allows members to send other members money if they decide someone has added enough value to them during a room discussion. And Clubhouse does not take anything for the service, except for the credit card transaction fee.
I have been in some clubhouse panels where audience members voluntarily sent someone on the panel a donation because a story or presentation compelled them.
Whether you want to monetize your podcast or not is a decision you and your organization should make. But allowing your listeners or viewers to become donors on the platform is something every nonprofit should consider.
Often most people who intend to donate don't do it because of the barriers that follow the decision: click on a link, open a new website, enter a name, address, credit card, and on.
But if this new system works the way I believe it will, all someone has to do is decide on an amount and press send. That's it.
Once someone engages with you financially, even if it's $1.00, they break a psychological barrier that says, "this is a trustworthy organization." And that first donation can grow into a long-term partner or even a legacy donor for your cause.
If you want help with your communication strategy, including your podcast strategy, contact us and see if we might be a good fit.