Podcast sponsorship is a great way for podcasters to turn their side-hustle and passion into something even more valuable. Financial freedom.
Topics covered in the masterclass webinar:
- Why your hosting provider matter
- Understanding your download numbers
- Preparing your podcast for advertisers
- Dynamic Insertion Ads vs Evergreen Ads
- Pricing your podcast
- Media Kits & Outreach
Below are the bullets points covered in each section. To learn more details, please watch the video.
YOUR HOSTING PROVIDER MATTERS
- Your hosting platform deliver the correct number of downloads and your audience size. This is critical information for advertisers.
- There are many excellent platforms, and then lots of bad ones. You must choose carefully and dig deep into the analytics they provide you.
- Choose a hosting provider that is IAB compliant – they set the standards on how to measure downloads.
- This gives you the confidence you to know your numbers are correct.
UNDERSTANDING YOUR DOWNLOADS
- Providing the correct download numbers is crucial to podcast sponsorship.
- When you go into the stats section in your hosting provider you will see the total number of downloads.
- The numbers that really matter to advertisers – is NOT the total, but rather the downloads PER EPISODE.
- How many downloads are happening on one episode. That is how many listeners the advertiser will reach.
PREPARING FOR PODCAST SPONSORSHIP
- Format your podcast to accommodate ads.
- You don't want your listener experience to be abruptly interrupted.
- You don't need to announce the ad, just make sure there is an appropriate time to switch to the ad and then right back into your episode.
- This makes the ad feel more part of the content and that it's meant to be there.
PRICING FOR PODCAST SPONSORSHIP
- The general pricing method is CPM/Cost per thousand downloads.
- Pricing varies $20-$50 CPM, depending on the podcast downloads.
- Smaller podcasts rather go with a more curated price.
- Most podcasters are reaching valuable listeners, but their topic is broad e.g parenting. If the advertisers can reach them on a variety of other platforms they are not as coveted. This will determine the value you place on your ad read.
- Niche topics and listeners e.g software developers/doctors, who are really hard to reach, bring a higher value to advertisers. Therefore, the CPM may be higher.
- Think about packaging your assets together – podcast, social platforms, newsletters, email marketing, website, etc.
- More touch points to reach a larger audience has greater worth to advertisers.
- A well designed media kit creates a compelling reason for advertisers to choose you.
- Make it look professional. You can hire a graphic designer or do it yourself on software such a Canva.com
Things to cover:
- The podcast description.
- The listener audience – demographic insights (this is very important)
- The host/co-host (just a snippet)
- Stats – downloads per episode (no vanity metrics)
- Pricing/packages (optional)
PODCAST SPONSORSHIP OUTREACH
- Bigger companies are harder to connect with; and their expectations are strict and inflexible.
- Target mid-level companies – somewhat established, or startups with funding.
- Companies who sell nationwide or online.
- Apps and software are popular.
- Connect with the correct contact on LinkedIn – preferably a marketing position.
- Persistence – send messages, emails, and comments.
- Show how they will benefit from having a conversation with you and why podcast sponsorship will be successful with you.
- Do the legwork and prepare your show for podcast sponsorship before you begin outreach.
- Know your numbers. Downloads per episode are the key metric of measurement for advertisers.
- Always offer added value to increase the worth of your podcast to the advertiser.
- Be persistent.
- Build a relationship with the advertiser on social media so they are more likely to respond to your email outreach.
If you enjoyed this article, you will love this one: Podcast Advertising Contract: What to include.
Optimizing Your Podcast SEO Is More Important Now Than Ever Before is another great resource to grow your podcast.