Podcasting is fun. It’s also hard work. Not surprising that since the dawn of this medium, podcasters have been crafting ways to make the fun pay off. Traditional advertising methods work for a select few - an estimated 0.05% of podcasters monetize their show via direct sponsorship - and finding vertical opportunities by leveraging your own business works for others. But what about those who neither have a large online listenership nor a business directly tied to their podcast?
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Billions of dollars have been spent on the term diamonds are forever, but no one cares about your diamonds any more. Sure, a little bit of bling might get you through that door, but it certainly does not make people remember you, your product, or your services - at least for the long term the way podcasts do.
Podcasts are the new diamonds.
Podcasts are forever.
Well, at least until the internet crashes and burns or a new medium takes over, which hasn't happened yet.
Let Me Explain Why
Take one look at podcasts and you will understand that there's rich and deep history here. You can easily find the very first podcast episode from years ago and still be updated on the latest. How many subscribers do you have? How long have you been podcasting? Do you remember your average downloads per podcast episode? Okay, now look at how many downloads your first podcast has and see the difference in numbers.
People time and time again will go back into your archives and see how it all began. People love being there from the very beginning even if they joined the race late. Podcasts do just that and directories like iTunes makes it so easy to go on a podcast binge on those sleepless nights.
Sure, you can do this with blogs too, but there's something so easy about laying in bed and listening to a voice talk about all the things wrong in the world or an hour-long special about cats. So much more knowledge can be consumed with your eyes closed than ever before, which is why podcasting is unique to video and blog formats; you simply can't consume those with your eyes closed.
What about Radio, you say?
Radio targets mass audiences. It's so broad that it alienates you. You listen to radio when you're stuck in traffic and don't want to think any more. You listen to podcasts when you want to belong to something bigger...while you're stuck in traffic.
Advertisers Love Diamonds
Which gets to my main point of my article, advertisers love the concept of diamonds, but there isn't a medium that capitalizes on 'forever'.
Well, until now that is.
You think it's Hard to get advertisers behind on your podcasts? How about I tell you it's as easy as eating an entire bucket of ice cream by yourself. All you have to do is pitch them the 'forever' business model.
First of all, what kind of advertiser is going to refuse the forever model? Their ads will be on your podcast episode and in the archives for...forever? Yes. Sure, you only have 500 people downloading your episode regularly today, but 5 years from now when you're married with kids, how many downloads would that episode rack up?
People will still find and download your old episodes long after you've stopped podcasting with your advertiser's product or services still imprinted on that episode. They pay a one time fee for a lifetime of exposure. How can they say no? When you're ready to get paid for your hobby and the amount of time you spend working on your podcast, remember to pitch those advertisers the 'forever' model and it will be almost impossible for them to say no.
We're a savvy team of audio engineers that love to produce podcasts for a simple and easy fee. We focus on helping you work more on your podcast and less on the bells and whistles. Not only will we set up your podcast and make it sound incredibly professional, we will also help you with the show notes, postings, and more. Please feel free to contact us via the contact page or message me at Ayn@podfly.net for more information.
Until next time,
There are many ways a new podcaster can monetize on his podcast, even before he has a huge following. Although there is no denying that the bigger the viewership, the easier it is to pitch potential companies about sponsoring you; it should not deter you from at least looking at the big players in the market that can help you. When you're first starting out, there are actually a lot of options you can take to monetize your podcast and cover your initial costs.
The Game Plan
You don't need superpowers to find a small sponsor in the beginning, but you do need a game plan. Start by writing down all the relevant products that tie closely with your podcast topic. For example, if your podcast is about dog grooming, what kind of services or products surround that niche? Shampoo, nail clippers, special dog food or dog treats, vets, shelters, etc.
Pitch To Store Owners
Once you have comprised your special list, go down to one of your local stores that contains your products in mind and and pitch your podcast idea to the store owner. You don't have to get them to commit to a large amount. $50 dollars a month is a small number that any business owner can get behind. Advertising with a podcast is cheaper than commercial advertising and once you've said their store in your podcast, it will be there in the archives for years. You can do this with several different local businesses or if you're not comfortable with speaking to someone face-to-face, you can email small internet stores or blogs and generate buzz that way. With just a little bit of initial effort, the next thing you know you could be making at least $250 a month on sponsorship and you don't even have an audience yet.
Remember, there are a ton of other ways you can make money too. You can link to products who have a great affiliate program, like Amazon, so whenever someone decides to buy a product based on your recommendation, you get a commission off of their purchase. You can add advertisement banners to your website and give another price point to your already-existing or new sponsors.
You can also use Google ads to help take care of all the extra work for you. This is a good option if you want to you take out the hassle of bringing in a new sponsor, however you will see very little financial gain from that in the beginning. You will also need a good amount of content on your page before Google can consider you to be a good candidate.
Tracking Is Important
It's important to track who views your website. The viewer's location, their age, and gender all play an important role in the future. This information will give you a better idea of who your market is and it will be something bigger companies will want to know. There are several plugins that can help you with this for your website. And when it comes to your podcasting stats, Libsyn offers its members a great breakdown of podcast downloads too.
Podfly is an audio editing company that makes podcasts sound great. We are professional audio engineers who have a love for great tunes and amazing podcasts. Contact us to see what we can do for you or come back and check the blog every Wednesday for ways to help you make a great podcast impression!
See you soon,