How to Find Sponsors for Your Podcast
If you are a podcaster, you know that creating great content is just the first step in building a successful podcast. In order to monetize your podcast and generate revenue, finding sponsors is essential. However, finding the right sponsors for your podcast can be a challenge. In this article, we will explore some effective strategies on how to find sponsors for your podcast. From defining your niche and audience to reaching out to potential sponsors, we’ll provide you with actionable tips to help you attract sponsors and monetize your podcast. So, if you’re ready to take your podcast to the next level, let’s get started!
Download the first chapter of The Storytelling Series: Beginners’ Guide for Small Businesses & Content Creators by Obehi Ewanfoh.
Recording podcasts and getting paid for them is a lot of fun. It’s also exciting because it’s a new and growing market in 2022. You can be assured that whether you started your podcast as a hobby or as a commercial venture, it’s highly rewarding to find a sponsor for your show.
It is not easy to find sponsors for your podcast. There are a variety of reasons why a company may choose not to sponsor you, but if you want them to, there are things you can do to entice them. But to start with, what is even podcast sponsorship.
Podcast Sponsorship
A podcast sponsor, or advertiser, pays you to promote their goods or services over one or more podcast episodes. You are free to get a little creative, but usually, hosts use this opportunity to talk about what they love and the benefits of their products.
To find sponsors for your podcast, you must first find an audience for your podcast. To do this, you will need to have a good idea of who your target audience is and what they are interested in. Once you have done that, it’s time to create a content strategy that addresses their needs.
Through podcast sponsors, you can monetize your show, increase your platform, and, most importantly, build long-term partnerships with numerous brands with the aid of podcast sponsorship.
Here are some tips on how to get more podcast sponsorships.
- Define Your Niche and Audience: Before seeking sponsorships, it’s essential to define your niche and audience. This includes understanding your audience demographics, interests, and behaviors. By knowing your niche and audience, you can identify potential sponsors who align with your values and goals.
- Create High-Quality Content: Sponsors are more likely to invest in podcasts that produce high-quality content and have a loyal audience. Make sure to create engaging, informative, and entertaining content that resonates with your audience. You can also collaborate with guests, other podcasters, or experts to add value to your show.
- Grow Your Audience: Sponsors are interested in podcasts with a significant and engaged audience. Focus on growing your audience by promoting your podcast on social media, collaborating with other podcasters, attending events, and optimizing your podcast for SEO.
- Reach Out to Potential Sponsors: Once you have defined your niche, created high-quality content, and grown your audience, it’s time to reach out to potential sponsors. You can use platforms like Advertisecast, Podcorn, or Podcorn Plus to find relevant sponsors. You can also contact companies directly and propose a partnership that benefits both parties.
- Offer Value to Sponsors: Sponsors are more likely to invest in podcasts that offer value beyond ad placements. Consider offering sponsorships with additional benefits, such as social media mentions, product reviews, or exclusive content. By providing added value, you can attract more sponsors and increase your revenue.
Getting more podcast sponsorships requires a combination of strategy, effort, and audience engagement. By defining your niche and audience, creating high-quality content, growing your audience, reaching out to potential sponsors, and offering value to sponsors, you can attract more sponsorships and generate revenue. So, start implementing these tips today and take your podcast to the next level!
Understanding the Type of Sponsorship Deal for your needs
There are three different types of podcast sponsorship models that an advertiser can choose from and they are as followed:
- Affiliate Sponsorship model,
- CPM Sponsorship Model,
- And Value-Based Sponsorship model.
With affiliate marketing, the sponsor pays for advertising space on a podcast’s website.
The sponsor then receives a percentage of the total revenue that comes in from those ads. With cost per mille, the sponsor pays a flat fee for one thousand impressions in the form of advertising (e.g., five hundred dollars for 10 clicks)
Many sponsors will pay you based on the number of downloads your podcast receives, usually in 1000-download increments. The CPM is the amount of money an advertiser will offer you per 1000 downloads (cost per mile.)
The CPM for really low-quality advertising options, such as spamming pop-ups on shady websites, can be as low as a dollar. Thankfully, podcasts are acknowledged as highly value advertising options, with CPMs as much as $40 or even $50 not uncommon.
Sometimes, some shows have the option for a value-based sponsorship, which is similar to the CPM model but based on flat pricing. You are paid regardless of how many people downloaded the episode.
That is the Value-Based Sponsorship. Depending on your podcast, only one of these models might be appropriate for you.
Podcast sponsorship has been around since its early days, but it is not always the best option for all brands.
In a Value-Based Sponsorship, the brand that sponsors a podcast is highlighted in the show’s content or its marketing.
Locate Potential Sponsors
It’s often quicker to negotiate sponsorships among independent creators and tiny businesses who, frankly, need help to reach their market, whether you are a novice or a seasoned podcaster.
You may already be aware of a few — for example, an online retailer that sells internationally or a local market, effective only to those who have big active local listeners.
You can also lookup what’s popular in your area online or, preferably, consider yourself what you’d like to test. In the context of mobile app sponsors, what might your fans be interested in purchasing or downloading?
Feel free to seek advice from your buddies, other podcasters, and even your listeners.
You likely know at just one small firm with whom you can collaborate. All you have to do now is make sure it is appealing to the types of individuals who will actually pay attention to you.
Make Your Presentation
Sending an email to your prospective sponsor, together with your more complete pitch, is the most professional method to agree on a sponsorship arrangement.
These should contain details about your show as well as suggested pricing. The presentation, which is probably in the form of a slide deck, is a great method to convince your sponsor and make it all look professional.
Bide your time to create a series of slides that is both aesthetically beautiful and professional-looking, and then maximize it for a potential sponsor. Treat it as though it were a company folio that will impress and inform your future clients.
Send an Email to Your Potential Sponsor
It’s time to write your pitch email now that you have finished your pitch proposal. Keep in mind that it will be the first statement your sponsor reads from you, so take care when writing it. You will need to answer questions about what you do, what you really want, and why they’d be interested in your offer.
You can start introducing yourself as the show’s host or co-host in your intro. Give the topic of your show, say how much you like the sponsor’s business, and ask if they’d be interested in collaborating with you to market their products and services.
You can then go into greater detail about your show, such as how long each episode lasts, your usual topic and themes, any previous sponsors you have worked with, why and how you believe your show will be a great marketing type of media for their company.
Remember to include the click-through rate as well as the audiences you have, to give a better understanding of your listener size and reach.
Create additional paragraphs with links to your greatest episodes so that people could learn further about you and your podcast.
Finally, you can state in your email that you have enclosed a PDF file with more detail about your event and sponsorship pitch and that you are happy to talk to them about it.
Don’t forget to express gratitude for their efforts.
In case they don’t respond, consider sending a follow-up email.
Conclusion on How to Find Sponsors for Your Podcast
In conclusion, finding sponsors for your podcast is a crucial step towards monetizing your content and generating revenue. By defining your niche and audience, creating high-quality content, and growing your audience, you can attract potential sponsors who align with your values and goals. Additionally, reaching out to potential sponsors and offering value beyond ad placements can increase your chances of securing sponsorships.
It’s important to remember that finding sponsors for your podcast takes time and effort. However, with the right strategies and persistence, you can attract sponsors and turn your podcast into a profitable venture. So, start implementing these tips today and take your podcast to the next level! With the right sponsors by your side, you can continue creating great content and reach new heights in your podcasting journey.
Download the first chapter of The Storytelling Series: Beginners’ Guide for Small Businesses & Content Creators by Obehi Ewanfoh.
