Exploring Membership-Based Podcasts: Strategies and Tools

Podcast, a word born out of combining iPod and Broadcast. This breakdown of words makes it so easy to understand what Podcast is. The first use of podcast dates back to 2004 by a Journalist, however, it gained popularity only after 2014. Here, it must be noted that the audio content played only over iPod as a medium is not necessary to be called a Podcast.

The Podcasting Industry and Changing Trends

A meteoric rise is seen in the Podcasting industry in the past few years. From being a niche hobby to a full-fledged form of entertainment and education, people are opting for audio content. Over 75% of people in America are now familiar with Podcasting and nearly 55% have consumed a Podcast. The revenue of the Podcasting industry is projected to surpass $1 billion by the end of 2024!

I know I know, you’re excited to know how you can create your own private podcast and not rely on mainstream platforms like iTunes or Spotify. Well, the rising trend is clear, more people opt to consume audio content. It is easier than video and written form as it can be consumed simultaneously, on-the-go. Now this surge itself is a way for innovative monetization models, including podcast memberships. The good news? You can move away from the traditional ad-supported models and shift to podcast subscriptions. Thus, having a steady revenue stream from the premium, exclusive content.

What are Podcast Subscriptions and How Are They Different from Regular Podcasts?

Membership Podcasting which are also known as podcast subscriptions or private podcasts is an exclusive monetization model wherein listeners pay a specific recurring fee to access exclusive content. On the other hand, the regular podcasts are typically free and monetized through ads.

As a subscription based podcast, you have to offer a variety of premium features as users would pay exclusively to listen to your Podcast. Well, take a chill pill as we are also going to provide you with strategies for podcast membership business.

Benefits of Podcast Subscription and Why to Opt for It

Membership Podcasting can be a game changer for you as a content creator or audio content provider. Dive right into the intriguing and compelling benefits that this model can give you.

1) A Steady Monetisation

When you monetize your membership website by providing Podcasts, you receive a stable income as membership fees. If your content is great and loved by your audience, they are going to keep renewing their plan, just like you keep renewing your Hulu subscription.

2) A Close Kni Community

Exclusive content, exclusive community! A membership based podcast would foster a sense of belonging among members. If you set up a social community feature, your members can internally engage with each other, discuss the podcasts, and provide you with suggestions, thus deepening the community.

3) Creative Freedom

When you do not have to cater to advertisers and their rules, your creative juice is going to flow. Without any guidelines and specific topic to cover, you can focus on producing content of your choice and the one that resonates with your audience. They would love to hear your unbiased opinion and real reviews on topics.

4) Increased Engagement

A community is going to induce engagement, naturally. Premium content is bound to attract dedicated, interested listeners. The listeners might not be too many, but only the ones who enjoy and value your content will be a part of the plan. They would happily interact with you, provide suggestions, feedback, appreciations, and all in all, support you as a creator.

5) Increased Value

As a creator providing private podcasts, you are always going to think of providing higher and higher value to your listeners. Just the way in which how you use your own car and how you use your friend’s car 😉

Thus, your content value would gradually increase.

Various Strategies for Podcast Membership Business

If you are charging for a membership podcast, your content cannot be regular. If you’re going to a five-star restaurant, you expect a five-star treatment and not a food cart treatment.

Well, well, let us understand what kind of a premium experience you can provide your members with behind a paywall.

1) Ad-Free Podcasts

This is the most common and basic type of experience that you can provide your members with. You can draw in listeners who value time and prefer uninterrupted content. However, this model is not preferable to be used in isolation as for many, this would not be a good enough reason to pay. Further, you would not be able to keep high prices for the same. Use this in combination with some other model for reaping the maximum benefits.

2) Providing Bonus Content for Members

A bonus, exclusive content is loved by everyone. Providing bonus episodes that are not released for free listeners is a great value proposition. If you’re providing interview podcasts, provide a special 10 minute, raw chit-chat with guests to members-only. Or provide a special tip or story for exclusive members.

3) Early Access to Podcast Subscribers

Give a sense of privilege and exclusivity by providing early access to episodes to your premium members. This can be tricky to set up because when you give early access, the wait-time in the end becomes similar. Further, users usually would not mind waiting for a day or two more to access the podcast. So, plan how early you can give the content or reduce the wait time for members.

4) Archive Content

If you have been creating Podcasts for a long time, you ought to have a huge library of old content. The members would not have heard them, thus, repurpose your old content. Provide them access to your archive content through podcast membership and see the magic.

5) Create a Member-only Show

If you are in the podcast field full-time, start creating special, separate content for members. Tailor an experience specifically for paying listeners with unique content. You can make this content more niche and experimental compared to your main Podcast. Look at the Member’s Only plan for theescapecollective. It not only provides users with exclusive Podcasts, but gives many other benefits.

6) Behind the Scenes for Member’s Podcast

From making episodes, bloopers, creator insights, setting up podcasts, the issues to battle as podcaster, and everyday life can be an interesting catch for paying members. You can lay down an intimate connection with your audience.

7) Individualised Q&A Based Podcast

This model works best for online LMS websites. As a tutor of a certain niche, you receive ample questions from followers and listeners across various platforms. Every episode features specific questions raised by members and creates a podcast around it. In this way, you would answer your commentator and also allow others to gain insights. With this, you stay active and even interact with your audience.

8) Short Actionable Podcasts for Members

Sometimes, there would be people who would want a crux of every episode to save their time. Thus, what you can do is, create bite-sized, quick tips, and actionable content. These quick and implementable insights would be of great value to member’s. From 45 minutes, they can receive the major chunk in 5-10 minutes.

9) User-Generated Content for Thriving Community

Offer your members a chance to feature on your Podcast. It can be an independently recorded podcast by the member, or an interview format. Like this, you would increase your content library, engagement, and give an opportunity to your audience. They will feel more valued with this kind of a format and wait for their chance.

How to set-up a Membership Based Podcast with ARMember Plugin

A powerful WordPress membership plugin like ARMember can help you simplify the process of setting up a private podcast along with multiple features like creating a social community, drip content strategy, creating multiple forms, providing online courses, gamification tools, and so much more.

1. Seamless Integration: ARMember would seamlessly integrate with your existing WordPress site and allow you to manage memberships and subscriptions from your Website itself.
2. Flexible Membership Plans: You can create multiple and flexible plans as per your requirement. You can set-up various tiers of pricing and segment your audience and offerings accordingly, completely as per your choice.
3. Content Restriction: You can easily restrict access to various Podcasts based on membership levels. You can set a paywall for premium content and offer other content for free by using the Content Restriction Rules.
4. Payment Gateways: ARMember supports more than 15 payment gateways, including PayPal and Stripe, ensuring a smooth and secure payment process for your subscribers, no matter the location.
5. Drip Content: This feature allows you to schedule the release of content over a period of time, thus engaging members to keep coming back for more.
6. User Management: Manage your members and track their membership cycles from the dashboard itself. You can even communicate with them directly through the platform.
7. Analytics and Reporting: Gain insights into your membership data, including subscription trends, revenue, and member engagement, to make informed decisions.

Tools for Setting up Private Podcasts

You would require a combination of tools to ensure a smooth operation of your private podcast.

1. Podcast Hosting Platform: There are various Podcast Platforms that support private RSS feeds for your members-only content. Explore options like Libsyn, Transistor.fm, Captivate.fm, Podbean. Membership Plugin: Choose a robust membership plugin like ARMember that would help you manage your subscriptions, payments, and access control. Even the free version of ARMember would support these functions.
2. Recording Equipment: As someone involved in the Podcast industry, good quality recording equipment that include microphone, headphones, audio interface is very important to create high-quality audio.
3. Editing Software: Master one of the audio editing software such as Audacity, Adobe Audition, GarageBand to polish and edit your Podcast episodes for high-quality output.
4. Email Marketing Tool: An email marketing tool would help you communicate with your members and send updates. ARMember provides you with multiple in-built email marketing options like MailChimp, Aweber, MadMimi and more.
5. Website Builder: Ensure you have a professional looking Website to showcase your Podcasts and manage memberships. WordPress with ARMember is an excellent combination to consider.
6. Analytics Tools: Understanding your audience and content analytics is crucial for future planning. You would receive some in-built analytics and can even use Google Analytics to track detailed performance.

Examples of Subscription Podcasts

Let us look at some successful membership podcasts models for inspiration and fuelling you up in your journey.

1. Slate Plus
2. Luminary
3. Patreon-Supported Podcasts
4. Wondery+
5. Members Only Podcast (Patreon Model)

Let’s Wrap Up

The industry’s evolution towards a private podcast model has tremendous opportunities for growth. The creators can monetize content and create a dedicated community. Exclusive content, sense of belonging, and tools like ARMember can help you create a successful membership-based podcast to stand out in the saturated market.

Utilise the suggested strategies and start your journey towards a rewarding podcasting business experience.

FAQs

1) Can I offer Paid Podcasts on Spotify?

Yes, Spotify allows certain paid podcasts on their platform, however, only after you have 100 listeners and two podcasts in the previous month. It can get tricky as then you might have to function as per Spotify’s changing policies and rules.

2) Can a membership business be exclusively for Podcasts?

Yes, your membership website can revolve only on Podcasts. A membership site is useful as it will provide you with better scalability in the future when you plan to expand.

3) How Can I price my Podcast Subscriptions?

Based on the value you are offering and the payment willingness of your audience, price your various Podcast Plans. Ask your audience for their reviews on payment and content expectations for a better idea and user survey.

4) How Can I promote my Membership based podcasts?

Utilise Social Media and Email Marketing to promote your Podcasts. Inform audiences regarding your latest offering. Provide a limited free trial for attracting more users to your private podcast.

Read also:

• Best Ideas for Membership Site to Start Earning in 2024
• Create a Successful Podcast to Promote Your Membership Site