If you haven’t already read part 1, I would suggest that you go and give it a read. It will provide you with the essential understanding and background of sponsorships needed before moving forward.
Now that we understand the sponsorship jargon, let’s create a road map on how to secure a sponsorship for your podcast. We shall try to keep this brief so we have created a spreadsheet to compliment the journey and to hopefully make your life a little easier.
Who Are You?
This can best be achieved by answering these questions:
- Who is your target audience?
- Why is your audience listening to your show? (Advice, knowledge etc.)
- What specialization/niche do you fill?
- Are there any products or services which you do NOT advocate for?
A strong understanding of yourself and your audience will prevent you from selling-out and promote anything which goes against your personal or moral judgments. It’s important that you can see the necessity or desire of the product a sponsor offers as you will be the one giving the pitch.
Identify your Podcast-Sponsor Worth
There is currently no strict measure of the ‘podcast-sponsor worth’, however, the most popular ‘industry standard’ is often defined as The number of unique downloads an episode receives after 6 weeks of initial release. Most podcast sponsors will require a minimum of 5000 unique downloads per episode.
To add an extra measure of accuracy, we recommend you provide a 6-week average with upper and lower quartiles alongside your raw statistic output. It looks more professional and the extra data analysis will help marketers determine your growth rate.
It is important to do some research to find sponsorships which will add value to your show. If the product is going to support your content then it is likely to be of genuine interest to many of your audience. We recommend that you find commonly mentioned sponsors by popular and similar podcasts as a first step. If you already have a particular sponsor in mind then it may be time to approach them.
Decide your preferred model: CPM or CPA
Most podcast sponsors choose to stick to either the CPM or CPA model. This is usually decided by them based on what is more likely to provide a return on investment and what their overall goal is. If your desired sponsor is an online digital company then they are likely to follow the CPA model. In this case, sign-up to become an affiliate and promote. If your sponsor follows the CPM model then it may be time to contact them directly.
Note: It is common for sponsors to approach major podcasts directly and offer support. In this case, you have much more negotiating power. However, this is uncommon for anyone who is below the top 1% of podcast shows and that is OK.
Making the first move can be daunting, however, it is a necessary step to ensure financial greatness ….. Or a polite rejection at least. When contacting a perspective sponsor a well-structured, formal e-mail goes a long way. However, as I’m sure you are aware, a corporate style e-mail really doesn’t convey the personality of your show. This is where attaching an infographic masterpiece can make the difference. A sponsorship infographic should be bold, clean, uncluttered and distinguishable. At an initial glance, you want to transfer all fundamental information. Think of it as a resume. Checkout the image below for template ideas and inspiration.
The structure of the infographic can change, however, it is key to include the following information:
- Overview of your achievements
- Image of the podcast and/or host
- Short summary of the show premise
- Ratings, testimonials & statistics
- What you offer the sponsor
- Rates and pricing
- Contact information
- Your target audience
Give A Little Extra
Once the negotiations have finished and contracts have been signed its time to promote, publicize and engage. Share your sponsor’s message in your own words and advocate a product you believe is of value to your audience. But please remember that a happy sponsor is a consistent sponsor. Go that little extra little distance beyond your contractual agreements. Here are a few extra tips worth implementing:
- Complementary post-roll mentions
- Social media tags and sharing testimonials of those who bought the products
- Links to the sponsors within the show notes.
- Under promise & over deliver with episode downloads
- Sponsor branding on web pages, images, and banners.
I hope that you have found this short series of articles helpful. It is our prerogative to assist all podcasters on their journey to success and to achieve their goals. By now you should have an understanding of the podcast sponsorship industry standards, how to approach and connect, how to get their attention and also speak their language.
If you have found this article helpful or have any questions, please leave a comment below and we will do our best to get back to you all.
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