If you love podcasting and are passionate about it then who’s the one who doesn’t want to earn? Earning from podcast doesn’t need big dreams if you are a daydreamer. The simplest way is podcast sponsorships.
You might’ve listened to the advertisements on popular podcasting platforms such as iTunes or any good hosting website. These adverts help the channels or host of the episode to earn the money.
You’re concerned and want to make money. I understand…
Earning from the podcast can be little difficult if you are a beginner. Once you succeed to gather a few number of listeners or subscribers, sponsorship is the easiest way.
It’s feasible to cover the cost in the early days of the podcast through sponsorships. After researching a lot about the equipment’s, you might now wish to have some of them.
Of course, you will go with the latest technology available. So, sponsorship can help you here to buy gadgets.
Next, is where to record? You need some space like a studio to record a perfect podcast without any interruption. You may ask the sponsors to use their space to record.
Sponsorship is an appropriate way to grow podcast within your network and out of your network too by spreading over the social channels. Disclosing the sponsors on the show will give a more professional look.
Furthermore, you remain motivated and drive great ideas to create a podcast with the means of sponsorships. Having supporters for your show helps to think out of the box and also to plan the outstanding marketing strategy without being worried about the money. It also helps you to sell the product to your audience.
The podcast helps you to enhance your audience on a large scale and earn good bucks from it. This is little time consuming but yet feasible.
Now let’s discuss in detail these variations which you can sell to the companies
It is the advert part that remains at the beginning of the podcast. It’s just like an introduction part usually of 15 seconds and costs between $15 to $20.
It is the advert that is similar to pre-rolls. But it’s at the end of the podcast. It is a little bit longer usually of 30 seconds and sells at the same price as pre-rolls.
It’s the final spot which is discussed in detail. This lasts up to a minute usually. Being in detail and chatting with a sponsor, made this mid-roll a little expensive. It sells between the $20 to $25.
These charges are in CPM’s that is Cost Per Mile, in terms of the companies. In a layman language, it is the price with regards to the cost per thousand listeners.
As a Podcaster, you might have seen that the sponsors want all the three types. In that case, it’s best to throw the Post-Rolls free of cost.
Further, the podcaster must be careful about the number of sponsors. As the number goes high, it will ruin the audience. It’s best to go with 2 supporters for a single podcast. This is the decent way to earn the bucks with also keeping your listeners happy.
If you want to be more specific to a niche, then it can get you more profits. The listeners of general podcasts are less likely to purchase the adverts as they are just listening for some entertainment or educational purpose.
There are more chances to sell the podcasts that provide some service or help in any way or provide a solution to a problem.
You’re the voice to the listeners and they only trust you. If you’re promoting some product, then there are many chances that your followers will buy the product, if told about its importance in the routine.
If the audience engagement is high on your podcast, then you can show its stats as well. Usually, there are more listeners on the general podcast and less on the niche specific. The insights will show the engagement of your followers through which you can demand higher for the ads. In your starting period, when you have no stats, you might need to reduce the price and risk for the sponsor as well.
For starting it’s better to provide free service for some time or at reduced rates. After a successful trial period, you will be able to show the stats and in that time-span, you’ll be able to generate the trust among the audience. This will built a long-term relationship with both the sponsors and audience which will help to gain more sponsors in the future, of course.
Creating a podcast as a sample will help you to get more sponsorships as it’s the incredible way of selling in a short period. The demo audio recording should be short and to the point detailing the information.
This is all. Doing good research, choosing a good platform and a well-written email is enough to get the sponsorships.