When it comes to getting podcast revenues going there are several options that you have. One of these is using sponsors for your episodes. Sponsors are a very traditional route to monetization, but they are also full of myths, which include the first one: that you need to be a big podcaster to get podcast sponsors.
You can get a podcast sponsor from the start of your show, and start to build an effective revenue stream. In this article, we’ll detail carefully how you can get sponsors for your podcast and get the best revenue from your contracts.
What Specifically is a Podcast Sponsor?
The first thing to define is the exact nature of a podcast sponsor. When we’re talking about sponsors, we’re defining brands that are promoting their services or products overtly to your audience through a couple of avenues.
These brands usually pay a relatively good fee for being featured and named in your podcast.
We’re not talking about members or patrons who might pay a small fee in exchange for benefits, such as earlier access. Some content creators do list patrons on their video podcasts or videos as a way to thank them. It is similar, but a sponsor tends to have exclusivity to their time on your show, and while you can often have more than one sponsor per episode, you tend to dedicate at least a portion of an episode to the sponsor.
Patrons also pay less well and have limited obligations. They might pay for just one month, or they might give a single, small contribution. And you’re unlikely to speak directly to the patron. In contrast, you tend to have a professional contract with a brand sponsorship, and they will communicate directly with you.
Finally, you’ll need lots of patrons for the same level of revenue you can get from a single podcast sponsor.
The Types of Sponsorship Content
There are two types of sponsorship content you can use in podcast episodes. One of these is the brand sponsor creating their promo reel to be inserted into your podcast episodes. This can be relatively cost-effective for you and allows you to add breaks into the episode to keep a schedule going.
However, it can also be disruptive to the flow of certain formats.
Another way is for you to mention the sponsor in your episode. You can do this by mentioning them in some way during the episode. This strategy can seem more natural and flow better in the podcast episode. But there might also be an issue that it doesn’t stand out enough for the audience to take in what you’re saying.
How to Get a Podcast Sponsor
There are several actions to get a podcast sponsor. These include the following:
Identify Your Audience
The first thing you need to do is to ensure that you know who your main audience is. The audience is going to be the selling point and it is also going to be the key to identifying the main sponsors that you’ll want to target.
For example, those creating podcast episodes about small business marketing, are going to have business owners and solopreneurs as their target audience. So the sponsors that you will want to attract will be interested in these customers as well.
Try to get as much detail about your audience as possible. Not only the type of person who listens to your podcast, but their budget, what pain points they have, and whether they’re the main decision-makers.
Create a Sponsorship Package
You will also need to create a sponsorship package you can send to potential sponsors. In the package, you need to include where you’re going to place the sponsorship and the additional perks that they can expect.
Consider what elements you can add to the package to make it more attractive. For example, will you add inclusion to your mailing list, feature them on your social media feeds, or have links to them in the podcast description/notes? These are all important benefits that you might need to consider for your package and can make it seem more valuable.
And you want to identify the cost of the package. You can do this on either a per-episode or per-month basis. There are advantages and disadvantages to both options.
Identify Potential Sponsors, Send Them Proposals and Negotiate
Identifying potential sponsors can be challenging. You want to think about the budget you’re proposing and the audience you have. Then you want to contact all the companies you can, trying to speak to decision-makers, like the head of marketing or business owners. Provide them with your package and try to arrange a time to talk to them about the proposal.
You might also want to direct them to a couple of your episodes so they can get a feel for the episode.
Negotiate with them. Remember sometimes it is better to give them something else, rather than lower the package cost. However, it depends on the brand’s budget and other factors as to how the negotiations will succeed.
Can Hiring a Podcast Production Company Help?
You can learn the right strategy for securing podcast sponsors from Produce Your Podcast. We offer podcast hosts training in securing sponsors from the moment they launch their show to help them turn their episodes into a revenue-generating part of their brand.
From helping hosts build a proposal package to contracts, our podcasting experts can support experienced and new hosts with the monetization of their shows, with excellent results that can build brands up.
And the results can mean that hosts aren’t just able to secure great podcast sponsors, but they can get higher rates and more reliable revenues. Therefore, they can focus more on what makes their show great: the content.
FAQs:
How many sponsors can I use per episode?
Depending on the length of the episodes, you can have between one and three sponsors. Those that have longer episodes can have more sponsors.
What income is possible from show sponsors?
Clients working with PYP can close sponsors in 4-5 figure revenue with the right approach, which we can teach you with Sponsorship Circle.
Are exclusivity deals worthwhile?
Some sponsors might want to have sponsorship exclusivity. These deals can be worthwhile if they’re willing to pay a higher amount for the rights to your show. And you will want to put in a clause that allows you to accept other sponsors after a certain time, or non-payment.
Final Word: How Do I Get Sponsors for my Podcast?
Podcast sponsorship is a great way to earn money from your podcast episodes. It can be daunting to know how to secure sponsors for your podcast, but the above are the simple parts of the process. You can also use a podcast production company with experience and expertise to teach you how to secure high-paying, reliable podcast sponsors.
Produce Your Podcast is a full-service podcast production, editing, and marketing agency specializing in helping brands launch, grow, and monetize successful podcasts that impact their bottom line. With 30+ years of experience in both broadcasting and business development brought to every project we work on, our team of experts is a reliable partner to help you achieve your goals with your show.
Click here to schedule a conversation with our team today and let’s bring your show to life!
