Congratulations on starting your own podcast. It’s now time to monetize it. And one of the most popular and most effective podcast monetization strategies is sponsorships. With sponsorships, you’ll earn from promoting a brand, product, or even a service. You can generate a decent income through podcast advertising as your show gets popular and your audience grows. But finding great sponsors can be daunting. That’s why we’ll share simple tips for finding podcast sponsors to make the process a bit easier for you.
1. Identify the Right Brands and Pitch Directly to them
If you’re just starting, the chances of sponsors approaching you with lucrative advertising opportunities are slim. Like most independent podcasters, you’ll have to put in some work to secure a great deal with sponsors.
Do your due diligence on podcasts in your category. Perform in-depth research on competing podcasts to identify brands that are sponsoring podcasts in your niche. If your listeners share some attributes with those of the podcasts they’re currently working with, that brand may consider sponsoring your show. Listen to at least 10 podcasts that include host-read ads and list down the brands that are mentioned. Then look for contact details of each company and send a compelling pitch. Don’t give up if your first attempt is unsuccessful. Instead, keep on researching sponsors and pitching. To get monetized, you must do thorough research on sponsors and consistently pitch them.
Ensure the product is a perfect match for your audience. Pitch companies that offer products, which suit the needs and preferences of your audience. Don’t sacrifice the trust and attention of your loyal listeners just to make some quick money. Define your value proposition. Why should a sponsor pay you to market their product or service? Convince the sponsor that you have what it takes to get sponsored. Be sure to support your claim with some data. Leverage data from past promotions or analytics on the demographics of your listeners as tools to create an irresistible pitch.
2. Join a Podcast Network
Through podcast networks, podcasters get connected with the right sponsors while the sponsors get connected with the relevant audience for their products or services. That way, podcast networks create a win-win situation for both parties. Joining a podcast network gets your content in front of more advertisers and increases your chances of securing a sponsorship deal that perfectly suits your audience.
At the initial stages of your podcast, sponsorship arrangements via a network aren’t likely to rake in a lot of money. Depending on the deal, you’ll have to part with a certain percentage of whatever money you generate. For instance, in a 70/30 arrangement, you’ll keep 70% and the network takes 30%. Also, you might need to relinquish some elements of your creative autonomy to remain within specific rules of the network.
Additionally, create your own website where you could promote your brand and the values that you stand for. With the help of a digital marketing agency and an SEO Expert, you could widen your audience and also the chances for the sponsors to notice you.
3. Join a Reliable Podcast Marketplace
A podcast marketplace makes the process of finding sponsors a tad easy by helping you connect with high-profile advertisers who are actively searching for podcasts. With podcast marketplaces like gumball or podcorn, you don’t have to worry about high network profit splits. You’ll also get your money quickly and keep track of your earnings.
Tips for Choosing the Right Sponsors for Your Podcast
Pick a sponsor that suits your niche. The product or brand you’re planning to promote should be in line with your niche. For instance, if your podcast is about the eco-friendly lifestyle, you should only market companies or products that are environmentally conscious.
Avoid sponsorships that have a negative image. If a company has a negative perception out there, keep off their sponsorship deals no matter how appealing they are. Also, avoid companies that are more likely to taint your image, especially those dealing with payday loans or casinos.
Each episode should have less than 10 percent of ad time. Don’t flood your show with ads. For a 40-minute episode, the total ad time shouldn’t go beyond three to four minutes.
Finding the right sponsors for your podcast takes in-depth research and pitching consistently. So take your time to compare different sponsors, list down those that are a perfect match for your niche and listeners, and then send your pitch. You also need to position yourself where brands and advertisers can easily spot you. And the best way to do that is to join a podcast network or marketplace.
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