How to create a successful podcast business plan?
In fact, you can create a podcast business plan with just five elements: 1. Determine your reason for podcasting 2. Get clear on your ideal listener 3. Consider monetization strategies 4. Develop an editorial calendar 5. Create a marketing plan
How do I start a podcast?
Business planning isn't the sexiest part of starting a podcast, but it is one of the most important. Set yourself up for success by taking the time to plan your podcast, put some thought into your marketing and create a roadmap for your future.
Why use the podcast planning template?
To avoid missing any preparatory or ongoing steps, use the podcast planning template to record every task in your process, allocate timeframes, and ensure that everything you do results in the kind of polished end product that’s representative of you and your brand. What are the benefits of using this template?
Does your team have a podcast marketing plan?
In order for your team to get on the same page, it’s critical to get your podcast marketing plan down on paper. Just like with your thought leadership strategy, podcast marketing is about going farther together. For that to happen, your teammates need to know what the plan is.
How do you write a business plan for a podcast?
Writing a podcast business plan is easier than you think. It'll take some time and research....Podcast OverviewA quick overview of what your show is about and how it's presented.Outline the hosts, producers and other personnel involved.Create the mission, values and goals of the podcast.
Does a podcast need a business plan?
If you're looking to start a podcast, or grow your existing podcast, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your podcast in order to improve your chances of success.
What is the business model of a podcast?
A podcasting business provides entertainment by uploading audio files online for listeners to subscribe to. Normally listened to over a smartphone app, a podcast generates money for the creator via advertisements. Listeners can also pay to get access to ongoing podcasts, bonus material, and extra episodes.
Should I make my podcast an LLC?
Is an LLC good for a podcasting business? Yes. An LLC will give you personal liability protection against potential business risks as well as give your podcasting business more tax options and credibility. It is relatively inexpensive and simple to form and maintain an LLC.
Do you need a license for a podcast?
It's easy to think that because we hear music on the radio all the time, that it's ok to use music in a podcast.
How much does it cost to start a podcast?
In fact, if you already have a computer and you're operating on a shoestring budget, you can record, edit, and launch a podcast for less than $200. On the other hand, if you want to use higher-end equipment, starting a podcast can cost a few thousand dollars.
How do podcasts make money?
Sponsorships are the most common way podcasters make money. This is when the podcast promotes the sponsor during the show. You probably hear your favorite shows plug their advertisers a few times in every episode. How much you earn from a sponsor depends on the number of downloads your episodes earn.
How long does it take for a podcast to make money?
Relying on the experience of Marc Clair, a podcast host, and producer, it may take as long as 18 months before you start seeing results. That's if you produce a show weekly. In his words, things can be faster than stated if you have luck, a marketing budget, and irresistible content.
Is podcast a good business?
Podcasting is an excellent option if you create a product or service targeted to your podcast listeners. For example, if you have a bookkeeping service, you can have a podcast on bookkeeping secrets for small business owners. You can use the show to share tips, but also, share your expertise and services.
Do I need a business bank account for my podcast?
If your podcast is starting to make some significant revenue, you will want to have a dedicated business bank account for that income.
Do podcasts pay taxes?
of TaxDebtHelp.com said, “Podcasters who are filing their taxes have deductible expenses just like other businesses.” In addition to the aforementioned deductions he added, “If the podcaster works from home and uses a room solely and regularly for business, they can take a home office deduction.
How do you legalize a podcast?
9 Tips to keep your podcast legal.Start with the premise that media is media. ... Understand Copyright Law. ... Don't rely on “Fair Use” ... Get the required permission. ... Get it in writing. ... Get your business in order. ... Be Nice. ... Pay your bills and taxes.More items...•
How do I start a brand podcast?
To start a podcast for your business, figure out your audience, format and style before planning your first episode. Once you've sorted the podcast basics, invest in high-quality recording and editing equipment. Conduct your interviews in ways that dovetail with your format.
How do you use your podcast for your business?
How to Use a Podcast to Grow Your Business (Top 5 Tips)Build Trust in Your Brand. ... Give Listeners an Incentive to Listen to Your Podcast. ... Get Featured on Other Podcasts. ... Convert Your Podcast into YouTube Videos. ... Drive More Traffic to Your Website.
Industry Overview
The podcast industry stood at a market value of 11.46 billion dollars in 2020 and is growing at a rapid rate. The biggest benefit of the industry is that it is a growing market and has space for newcomers as people continue to adopt podcasts as a form of content consumption.
Things to Consider Before Writing a Podcast Business Plan
Knowing your audience is primary to having a successful podcast. Try to figure out what your audience wants to listen to, what are their questions, what are their challenges, how can you help solve them, etc.
Chalking out Your Business Plan
If you are planning to start a new Podcast Business, the first thing you will need is a business plan. Use our sample Mindcast - Podcast Business Plan created using Upmetrics business plan software to start writing your business plan in no time.
Podcast Business Plan Outline
This is the standard podcast business plan outline which will cover all important sections that you should include in your business plan.
Ready to Start Your Planning?
Now that you know how to write a business plan, it's time to create one for you.
Customize your Business Plan
All businesses are different. So, don't hesitate to customize your business plan according to your requirements.
Business Planning Resources
We have plenty of free business planning resources available to help you with your planning. You can download our resources to learn all about business planning.
How does a podcast business work?
A podcast publishing business provides entertainment by uploading audio files online for listeners to subscribe to. These audio files are usually listened to over a Smartphone app. These listeners can pay to get access to ongoing podcasts, bonus material, and extra episodes. In the united states, the target market for podcasts is large.
What should a podcast publisher be able to do?
On every level, a podcast publisher should be able to expand audience, build a deep connection with visitors, and promote the business. As a general rule, podcast episodes should have a “low barrier to entry.”. They should be easily accessible and relevant.
What is the target market for podcasts?
In the united states, the target market for podcasts is large. Since a podcast can be about anything, it’s mostly up to the podcaster to decide their niche. But in general, a podcaster’s market is anyone who listens to podcasts. It includes people who drive often, go for walks, or simply download Smartphone podcasts.
How much does a podcast make?
Podcast memberships are usually between $1.99 and $9.99 per month . Note that very successful podcasts can make as much as $50,000 per episode. Small podcasts, however, make as little as $2,000 per year. More or less, average podcast owners make about $12,000 per year as a side job.
What is a U1 podcast?
Pro Call® Podcast Publishing, Inc. U1 allows individuals to easily record and produce podcasts without html or tech expertise . This revolutionary product quickly energized simplicity and affordability in the industry, while frequent updates to the software continue to improve ease of use. Once a podcast is recorded, Pro Call® Podcast Publishing, Inc. Next and Pro Call® Podcast Publishing, Inc.
What percentage of the population is podcasting?
1. Industry Overview. According to industry reports, only 22 percent of the adult population in the United States was aware of what podcast means in 2006, but this number grew to 70 percent in 2019, buttressing the growing popularity of podcasting in the United States.
How much money do podcast publishers make?
As a podcast publisher, expect to make about $30,000 as a moderately successful income. Individuals looking to start this business are expected to be knowledgeable about marketing, management, and promotion. A podcast publisher should also be good at integrating sponsorship with a show’s different editorials.
Why do you need a business plan for a podcast?
If you’re creating a podcast for a large organization, creating a business plan can help secure buy-in from your corporate overlords. I’ve pitched podcasts inside major companies before and, in a lot of cases, the higher-ups don’t know enough about podcasting to see the value. Putting in a little work and effort goes a long way.
Why Do We Need a Podcast Business Plan?
Plenty of podcasts start without a business plan, so what makes yours so different? Can’t you just start and see where podcasting leads you?
Why is it important to plan before recording a podcast?
Taking the time to plan before you start recording helps you think beyond listener numbers, episode titles and equipment. It gives you the chance to dig into what already exists, who you plan to make your podcast for , where you’re going to fit in and how you’re planning on growing.
How to ask for funding?
When requesting funding, you need to make your ask specific. Tell your funders how much money you’ll need and for how long. You’ll want to clearly outline how that money will be used and how long it will take you to pay them back.
What is the most important part of starting a podcast?
Business planning isn't the sexiest part of starting a podcast, but it is one of the most important. Set yourself up for success by taking the time to plan your podcast, put some thought into your marketing and create a roadmap for your future.
What is the personnel section of a podcast?
The personnel (or “management” section in a traditional plan) outlines who does what for the podcast. You want to identify the following roles and responsibilities:
What is an overview of a podcast?
The overview is exactly what it sounds like. It covers the who, what, where, when and why of your podcast. You’ll want to write up:
Execute Your Plan
Once you have committed to begin podcasting, you’ll find there are a plethora of tasks to complete before you can get up and running. Then, once you have your brand established, there are the regular tasks of sourcing guests, carrying out interviews, writing scripts, editing episodes, tagging your files, the list goes on and on.
Link information
The main table view provides you with complete oversight of the process. Then, click on an individual line and upload files, link to documents, make notes, in fact, do everything you need in order to achieve podcasting success, right there, within the template.
What should the premise of a podcast be written out in?
The premise or angle of your podcast should be clearly written out in your podcast marketing plan.
What is B2B podcasting?
B2B podcasting is a tactic for an Account-Based Marketing (ABM) strategy. Your podcast should be seen as a platform for building relationships with decision-makers from your target accounts.
What is the first part of an ABM strategy?
The first part of your ABM strategy as it relates to your podcast is to come up with an initial target list. Now, if you’ve been taking an ABM approach for any time at all, you probably have a list of your target accounts. This list can also be used for your podcast marketing plan.
How many different podcast formats are there?
There are (apparently) seven common types of podcast formats. For a B2B podcast, we suggest focusing on two — maybe three — types of episode formats:
What is the purpose of the cover art on a podcast?
The cover art conveys the vibe or personality of your show. As people search for new podcasts in their preferred podcast player, they judge each result by the name and the cover art. Make sure your cover art appeals to your ideal buyer and stands out among other similar shows.
What is the second component of a podcast?
The second component of your podcast marketing plan should be deets on the audience your show is targeting. The content of your show should be molded around your ideal listener.
What is the first step in thinking leadership?
The first step is to determine whether your thought leadership efforts are going to be personal, organizational, or a blend of both.
How to make a podcast?
Brainstorm Podcast Topics: Make a list of subjects that you’re both passionate and knowledgeable about, take a look at what’s already out there, and determine how your podcast will function as an extension of your content strategy. 2.
What should the first segment of a podcast be?
The first segment should be the most interesting in order to sustain listeners’ attention. This segment should appeal to the entire audience. Broad content is encouraged to serve the majority. News and current events related to your podcast subject matter are often of interest to an entire audience.
What is a podcast script?
Podcast Script (Template) 1. Opening: A quick musical jingle or your brand’s sonic logo. 2. Introduction: A monologue-style intro outlining your guests and what you plan to talk about on your show. 3.
How long should the intro be for a podcast?
In other words, your listeners will hear it a lot, so it’s likely best to keep it short, say 10 or 15 seconds. That way, the podcast intro won’t get skipped over with the +30 skip setting on most podcast players.
What to say in an outro for a podcast?
In the outro of your podcast script, you will want to make sure you thank all of the guests that were on your show and recap a bit about what was discussed.
What is a topic break in podcasts?
These topic breaks are typically described as bumpers or sweepers, giving your listeners the time they might need to digest the content you just presented. Since each podcast is inherently different, each show should have its own themes, topics, and lengths to set episodes apart from each other.
How to write a good show?
Your writing style should be conversational and friendly, limiting the use of jargon or industry-specific words in order to accommodate your listeners (you can use our sample scripts for inspiration).
Why do you need a business plan?
You might still end up in a good place by deciding things as you go, but you can end up making a lot of wrong turns.
What do you need to include?
We’ll go into more detail later on in the business plan. The main points you want to include in your overview are:
What is the goal of a podcast business plan?
The goal of this element of the podcast business plan is to create a rough and basic idea of how you will get the word out about the show to get started.
Why is it important to have a podcast?
The reason this is so important for your podcast business plan is because it makes it easier to market and develop products for your audience to purchase.
Why is an editorial calendar important?
To make quick work of the tasks ahead of you, an editorial calendar will act as the map on your journey. It ensures you always have something to record, edit, and release on a consistent basis.
Is selling services faster than building a listenership?
Selling services is also a much faster way to monetize than building a listenership first. A healthy sized fanbase is usually necessary for things like bigger sponsorships and large amounts of donations via platforms like Patreon.
Can you be profitable from the beginning?
There is no rule that says you can’t be profitable from the beginning, but you will need to plan out how you will achieve this goal. Think about which monetization strategies will be the most appropriate for you at first. If you need cashflow fast, you will need to plan for that too.
Is podcasting a hobby?
There comes a moment when you need to decide if your podcast will be a business venture, or a hobby. Many hosts opt to start a podcast as a hobby and then later turn it into a business. However, others choose to treat it as a business from the outset. Regardless of which way you choose to go, when you decide to turn your podcast into a business, ...
What is a podcast business?
The podcasting business is perfect for those who enjoy public entertainment. Podcast creators can join a slew of commercial and public networks, connecting with listeners, celebrities, and industry specialists. A good podcast business owner will have a niche subject to discuss, be tech-savvy, and understand modern entertainment.
How does a podcast business work?
A podcasting business provides entertainment by uploading audio files online for listeners to subscribe to. Normally listened to over a smartphone app, a podcast generates money for the creator via advertisements. Listeners can also pay to get access to ongoing podcasts, bonus material, and extra episodes.
How do podcasters make money?
A podcaster can make money in several ways. First, they can have sponsors. Every time a sponsor is used, a podcaster is paid. A podcaster can also ask for donations . Some podcasters give away free episodes, charging listeners for other episodes. Others, meanwhile, might offer free partial shows while offering entire shows for a fee. Social media advertisement can also generate money, as can a podcast’s website.
Why do podcasts need to be live?
Because a podcasting business primarily relies on e-Commerce, the podcast’s owner will need to make sure their buying portals are organized. Eventually, a podcast’s owner can do live events. If this is the case, the live events will be hosted in large cities.
How to make money from a podcast?
Narrow your podcast’s topics. Find a niche, and stick to it. Similar to blogs, podcasts need to be relevant while targeting specific audiences. A lot of broad topics are already covered, so niche topics can make a lot of money.
How to market a podcast?
How to promote & market a podcasting business. Be recognizable on a small scale. By representing your podcast ’s unique value, you’ll be able to promote it effectively. As for marketing, contact well-known podcast owners. Ask them to promote your podcast on their podcast, and offer to do the same in return.
How much does a podcast make?
A highly successful podcast can make as much as $50,000 per episode. Small podcasts, however, make as little as $2,000 per year. Typically, average podcast owners make about $12,000 per year as a side job. Expect to make about $30,000 as a moderately successful podcaster.
