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When I talk with podcasters about their goals, many tell me they would like to make money with their podcast. Some tell me they want this to be their only job. Others tell me they would like to earn enough to cover the expenses. When we talk about the “how”, podcasters often tell me they would like to pursue a podcast sponsor for the show.

If you would like my help creating revenue streams with your podcast, you can get my free list of 6 Ways To Make Money With A Free Podcast at PodcastTalentCoach.com/makemoney.

PROBLEMS WITH THE SPONSOR

The commercial on a podcast is the idea that comes to mind most frequently. However, there are a few issues with commercials on your show.

First, many people are turning away from traditional radio and to podcasts to get away from the long commercial breaks. Listeners are tired of interruption marketing that really doesn’t pertain to them and sells products and services that do not interest them.

Another issue with advertising on your show is your limited inventory. How much advertising can you possibly put into a show? There is a ceiling with regard to the revenue you could earn.

Commercials on your show also turns your show into a commodity. Advertising converts your listeners into price. How many listeners do you have? Let’s put that into the formula and figure out the price for your commercials.

You don’t want to be a commodity. You have something special to offer. Don’t let advertising turn your show into something similar to salt or gasoline or cotton balls.

As we have discussed before, sponsorships are a tough sell. Most traditional buyers want to buy podcast ads just like they buy radio ads. They simply are not the same.

With broadcasting, the ads are reaching a broad audience. Therefore, only a small portion of that audience will be interested in the product advertised.

With a podcast, the entire audience has an interest in common. If the product or service advertised is a good fit, it should be of interest to most of the audience. Therefore, you should be able to charge more for those ads than a traditional radio commercial.

STACK THE VALUE

I recently worked with a client on a very successful proposal. He had the opportunity to pitch a large governmental agency on sponsoring his show. His podcast reaches the exact audience they were trying to reach. The fit was ideal. He priced the sponsorship with regard to value and effectiveness rather than cost per listener.

When you approach potential clients, make your sponsorships more than commercials on the show. Sell them a whole package. Go beyond the simple sponsor commercial. Give them something more and make it special.

You can convert your sponsorship into a marketing partnership by adding other features that only you can provide.

• Add them to your website
• Include them in your newsletter
• Showcase them on the show with an interview
• Share them on social media
• Create affiliate programs to promote their goods or services

MAKE IT SPECIAL

Make the commercials special. Keep in mind when you do the commercials within the show, make your ads unique and entertaining. Your ads should be just as entertaining and informative as your content.

Sponsorship is just one way to create revenue with your show. There are many others. You can find my list of 6 Ways To Make Money With A Free Podcast at PodcastTalentCoach.com/makemoney.

 

Do you need help with your podcast? Get details here: PodcastTalentCoach.com/coaching. Let’s see what we can do.

Let’s turn your information into engaging entertainment.