Today I want to talk to you about podcast sponsorships. It's also called monetization. There are many different ways you can describe “sponsorship”. In some circles it can be called “monetization” while others just call it “advertising” or “spot” sales.
Before I answer this question, you may have your own questions regarding sponsorships, like:
“Do I need to have thousands upon thousands of downloads to start getting sponsors?”
The answer to this is “no!”
In this particular instance, we're going to be looking at large and small data numbers.
I'm also going to share with you recent research results from Nielsen ratings that give you a better understanding of how people listen to podcasts and why advertising is important.
As of December 8, 2017--when this this report was released--Nielsen surveyed about 7,000 people that listen to podcasts. In this study, people surveyed were asked questions on how advertising plays into their podcasts listening.
These are some of the findings that were extrapolated:
70 percent of the ads and sponsorships increased listeners brand awareness.
This is something that is very interesting to me because I hear in podcasting spaces all over that sponsorships or ads can be really annoying. But according to this study, respondents say that advertising generally has positive reaction.
78 percent of the people who listen to podcasts say they don't mind sponsored ads because they know the sponsors are supporting the podcast.
83 percent of the respondents said they love the host's natural reading of spots, commercials, sponsorship or something like an endorsement for their podcasts.
74 percent said that the sponsor was a good match for the show content.
70 percent said spots increased brand awareness to new products and new services.
62 percent said the ad sponsor made them consider new products or services. Also, ads performed better in the middle of the podcasts versus a pre-roll ad sponsorship.
The study also revealed that 66 percent of the people who responded to the survey they said they tune in to learn something brand new.
So whether that you are doing a true crime podcast, a podcast about fantasy football, a podcast about photography, a podcast about social media--people are tuning into podcasts because they want to learn something brand new.
Lastly, nearly half of the audience chose podcasts to basically relax or learn something new.
First, let’s go back to the question, “Do I need to have a large audience in order to get a podcast sponsorship?”
If you’re just starting out, make sure that you are:
As you build your audience, you will have to start researching and considering potential sponsors that match your podcast brand.
For example, if you do a podcast that's all about office equipment, it would be your best interest to start looking at office supply stores.
Avoid advertising sponsors that don’t make sense for your podcast brand. In other words, don't search for a sponsor that sells sporting goods. That just won’t make sense for your podcast.
Based off of these results from Nielsen, people said they are looking to learn something new and increase brand awareness that is relatable. So it’s your duty to be on the lookout for relevance.
Next, the type of sponsor you get increases your authority if you actually use the product or service. It’s like giving your personal stamp of approval and recommendation.
Perhaps you’re a huge advocate of a particular product or service. The ad sponsor may feature you on their website as well. In the radio world, we call this an endorsement.
I discuss, at length, the value of endorsements in this free download I’ve created.
Ad sponsorships are best if they help the listener solve a problem. Make sure you're looking at sponsors who are going to help your audience solve a problem.
In my free e-book, I share with you the best ways to monetize your podcast based on how I’ve seen it being done in the industry. I’m particularly fond of the section where I talk about veteran radio host, Tom Leykis, and his method for monetization.
Lastly, this Nielsen report tells me that podcasters have the opportunity to be as creative as possible. In other words, podcasters can now create show segments that are sponsored by a local or national business.
To give you an idea of how you can get sponsored segments, download my guide to monetizing your podcast.
Whether you're feeling inspired to make a podcast like mine or you're just trying to figure out where to start, my FREE PDF GUIDE will show you where to get started in under 15 minutes.
Shannon will share his 18 years of radio broadcasting knowledge and show you how strategies in radio relate directly to podcast creation and strategy!