P - HOW TO MONETIZE YOUR PODCAST

As the podcasting industry continues to grow, the interest in podcast advertising will as well. The problem most of us small business owners face is trying to test out different ways to word our structure our advertisements.

Podcast advertising is increasing ever single year, at the end of 2018 spending had reached $320 million. With many predicting that this trend won’t be plateauing any time soon.

According to Statista, “ By 2020, these expenditures are forecast to surpass half a billion dollars.”

So how does a podcast creator find companies willing & able to sponsor their podcast? You can pick from several different methods to begin monetizing your podcast.

JOIN AN ADVERTISING NETWORK

There are a few podcasting networks that are helping podcast creators find sponsorship. One of the most well known networks is Midroll. This network connects all sizes of pods to companies looking for advertising space on all types of categories. By searching “Podcast Advertising Networks” you can quickly begin to research the various services offered by some of the best networks out there. Once you’ve found one that fits your goals, simply contact them or fill out their submission forms to join & begin earning. Please note that while joining may be simply and quick, you may not begin making money immediately.

BONUS TIP:

After you join a network, make sure that you are continuously improving your podcast. Ask your listeners for feedback on how you can improve. Podtrac is a company that offers free podcast analytics. This includes a service that helps you get listener feedback. Knowing your stats gives you a competitive edge.

Gary Vaynerchuk recommends sending at least 100 emails a day to companies or individuals you want to work with. To start the process, make sure that you know your category inside and out. Make a list of companies or products you already use then draft a pitch email explaining how you can help them. This email can include your listener stats, the scheduled episodes you will be releasing, links to your social media accounts. Basically everything you can think of that would help companies reach people they may not be reaching already. Don’t stress yourself out if you can’t send 100 a day! You can start with 5, or even 10 a day. Remember to analyze your progress at the end of each week so that you can start learning what works and what doesn’t.

BONUS TIP:

Don’t advertise for products or companies you wouldn’t use. This is the quickest way for your listeners to stop trusting you. You should always be yourself & share what you love.