The pricing of podcast ads can be structured in different ways. That's why it's important to lay the right foundation and use the following best practices. If you dont want to promote someone elses products and prefer to create your own sales, you can also sell your own merch. Claim Ownership. The idea isnt to imitate exactly what theyre doing, but instead to create your own podcasting marketing campaign thats better. Podcast sponsorships are slightly different than traditional advertising in the sense that your brand is "sponsoring" the podcast episode or show. It is also the most lucrative and most straightforward way to make money from podcasting. In fact, the opposite can be true, the more hyper-targeted it is. Like banks, insurance companies often have specific categories of brands they sponsor. Email: thisisimportantpodcast@gmail.com. Even better, you don't . Tip: To see if this model is profitable for you, assume 1% of your listeners act on your ad at a commission rate of 15% of a $50 product or service. This exercise is especially important if you run ads on different shows. Lets talk a bit about both approaches. Personal Reasons Why You Should Start a Podcast. For more on that, check out Should I Sponsor a Podcast? Shop Courses Episodes About Home Events Blog. It is important to note here that if you already have a personal website, you don't need to create a whole new website for your podcast. 3) Ask if they'd be open to doing a phone call to speak further. Its just so well done that its hard to notice an ad has actually started. Its trusted by some of the leading brands like Dunkin Donuts, Toyota, Audible, and FedEx. Provide something of genuine interest or value to your listeners. Podcast. When your podcast listeners click on this link and purchase, youll earn money based on your affiliate commission rates. If youre interested in selling products, becoming an Amazon influencer can be a good Inbound marketing is a crucial component of any successful enterprise-level digital Its anticipated that by 2023, podcast ad revenue will exceed $2 billion. . Most commonly, it will be a fixed rate or calculated using the cost-per-mile (CPM) model. It's going to require a lot of work from you up . In short, its when a brand pays a podcast to mention the brand during the episode. If an agency charges you an $18 CPM, you're paying $18 to reach 1,000 people. Consider your audience. Things like trade magazines and blogs can be very niche and targeted, for example. Having a random Voice-Over interrupting the content to quickly give you a sales pitch can be jarring, and even annoying. . When opting for a paid interview, the brand will pay the podcast to interview a person whos linked with the brand (usually the interviewee will be some sort of expert). How much you make from a podcast sponsorship depends on various factors (well discuss that soon!) Podcast listeners consume an average of seven different shows per week. Today, this is what's important: Planning the podcast, keeping in touch with friends, group texts, political texts, phone numbers, safety songs for kids, Andrew Dice Clay, stand up personas, Mike Myers, buzzballs, and more. Your subscribers would have found more value in sponsored ads promoting one-of-a-kind paint brushes rather than an expert book on how to turn gardening into a side hustle. You can also use in-person and online promotion tactics to promote your podcast to a centralized group. Are there any opportunities that theyve missed? If 200 people listen to your podcast, you could potentially net $500 for a single product mention compared to $4 with a CPM rate of $20. A good start is to find out what your audience loves. other podcast monetisation avenues are available. This isnt an 8-minute long advert. Check out this key take-away from one of our earlier articles: 8 Ways To Strengthen Your Niche Authority: As a side note, the fact that non-dynamic, baked-in ads continue to play in your back catalogue forever can be sold as a benefit to potential sponsors. Read this article for more details on how to approach podcast sponsors, the top podcast sponsors and how to make more money from your podcast in 2023. This refers to the number of sales or sign ups they get as a result of the ad. Youre promoting products that can engage and interest your listeners. When you reach out to the sponsor, sell your event as an opportunity to showcase their new product and attract new customers. 4 Ways to find podcast sponsors. Its much harder to do this in the written word, where blog posts are Googled and skimmed for the one piece of info the reader wanted. Brands set filters to find podcasts they want to buy host-read ad space from. Ultimately, this will all depend on the particular affiliate scheme you decide to work with. The good news is, that if you own your podcast as most do then its entirely up to you what you charge. The number of active podcasts nearly doubled in the span of two years, while almost 60% of all US consumers older than 12 listen to podcasts, according to Statista. The best way to get sponsors for your podcast is to ensure your podcast is an exclusive listening experience for your audience. Maybe even to have enough left over to treat their other half to a nice meal every couple of months. Dec 23rd, 2020. Depending on the terms of the contract, you can then get a percentage of what the person spends in exchange for sending them to the brands site. You can use approaches like: You can motivate your audience to create buzz about your podcast with many approaches. Wells Fargo is the top corporate sponsor, with US Bank in 7th place and Bank of America in 8th. Best for: Podcasters with 5,000-10,000+ downloads per episode. Sponsors will want to see data like: Businesses must evaluate this data to determine if your podcast matches their target audience. This Is Important: a podcast with Adam Devine, Anders Holm, Kyle Newacheck, and Blake Anderson. 1) You're passionate about a topic or have something to say. You can reach out directly to brands for podcast sponsorships. I also mentioned dedicated website sections, host recommendations, and coupon codes. Podcast #775: We Need a P.E. I also learned that there are three main categories of ads in podcast sponsorships: Preroll: ~15-30 second ad at the start of the show. Podcast hosts can set a fixed-rate, where they charge a standard rate for ad placements. Request donations from your audience through Patreon. A bigger audience isnt always better. Sign up to get unlimited songs and podcasts with occasional ads. Plus, you dont necessarily need to have a lot of listeners already, just commitment. After all, how can a medium without any visuals manage to attract and maintain peoples attention in this day and age? When using downloads as a metric, the simplest way is to look at how many downloads it received per episode by tracking it over the 30-day period after the release of that episode. Many global retailers like Nike, Walmart, and H&Mt make fantastic podcast sponsorships. That means the audiences they build around them generally share a common interest. Companies know who purchases their products, and they are looking to partner with podcasts that can deliver that audience. There are many methods you can use to find the best podcast sponsors. For a 30-second ad, the cost per mile (or cost per 1,000 listeners) is $15-18. This Is Important Podcast. Remember too, that if youre looking to earn from your content, but dont like the idea of running ads, then other podcast monetisation avenues are available. However, ideally youll want to partner with a show that releases a new episode every week or every second week. Brands like this include Coca-Cola, Burger King, Pepsi, and Starbucks. According to. No more than a month shouldve passed between two episodes, unless theyre taking a season break. Many podcast hosts do this and earn money to reinvest into their podcasts. Podcasting is growing in popularity, and many podcasters are earning serious cash from podcasting. Of course, you must have a positive image to reflect well on the sponsors you want to secure. What if they begin to question whether your latest episode was only released because you were getting paid to run an ad? . Download this episode. But this doesnt only boil down to the number of subscribers you have, but the quality of your subscribers and if they align with your sponsors target audience. Then again, some argue that the most enthusiastic listeners will listen right till the end and theyre actually the ones whose attention you want to grab. Pre-recorded ads are easier to run a Mid-Roll ad during a podcast interview. Theyre paying you for a service, and you need to deliver and try to keep them happy. 3. From the different types of ads to average ad rates, heres the most important information you need to get started. Whenever you can, tell people about your podcast online and in person. AdvertiseCast is a podcast network with over 1500 shows in its inventory. Podcasters often get caught up in the mindset that they cannot monetize their podcast without having thousands of downloads - and it simply isn't true! In 2009, only 9% of Americans listened to podcasts. 6. Your podcast description should connect to your target audience and prove what makes your podcast unique. . Most hosts take commission. Sharing your listener statistics is probably a good idea, so include these numbers in your initial approach email. In there, youll find all of our video courses, downloadable checklists and templates, and we run weekly live Q&A sessions, too! A verbatim script is just that. This builds a layer of trust and authority. Users will gradually stop listening and subscribing to your podcast if youre running random ads they dont find relevant or interesting. Dont know where to start? Regardless, the sponsor walks away with brand awareness, making this approach much riskier for the podcast host. There are media ad agencies and podcast hosting platforms that can work with you to help set up a sponsorship agreement for your show. Podcast sponsorships are the bread and butter of the thriving podcast. But within their small audience, they achieve impressive engagement rates and have established credibility and authority. This is Important. There are no download requirements to start affiliate marketing, and it's one of the easiest ways to get your first sponsor. Mid-roll ads are the most expensive because listener engagement tends to be the highest mid-episode. A . Do listeners pay attention to complete episodes? Research podcast directories and choose one best fitting to your brand. You can include a media kit in your pitch email that includes things like: If you don't hear back after the first email after a week, consider sending a friendly follow-up email. Whats more, its expected to continue on the same trajectory to reach almost $3 billion in 2025. BiggerPockets, one of the top real estate podcasts in the United States, charges a minimum of $5,000 per podcast ad campaign. One single medium has so much potential which should not be ignored by any marketer out there. A crucial part of securing sponsorships is to put your audience at the forefront. If your CPM rate is $30 and your podcast is downloaded or listened to 10,000 times, you get paid $300. Podcast ads can either be dynamic (also known as dynamic insertion ads) or baked-in. For a 60-second ad, the cost per mile is about $25. When podcasts entered the scene, people were quick to dismiss it. An effective way to do this is to let the host share a personal story, if applicable, about how they discovered your product and the results that theyve enjoyed after using it. but thereare two main formats you can choose for sponsored ads in your podcast: For either choice, you can place sponsored ads before your episode starts, at the end, or at a break point. If you pick the latter approach, you can, for example, try Midroll. You can do this by using specific keywords during your podcast episodes. Post classified ads for sponsorship, guests, co-hosts, cross-promotion. For example, on Patreon you can add merch to your different membership tiers. 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