How to build a profitable podcast.
Let us welcome our guest writer Egor Blokhin!
In today's world, the way to a potential client's heart is through their headphones. Bloggers, experts, as well as world brands strive to make sure that the audience literally hears their message.
It’s clear that podcasts are becoming more and more popular, and the obvious reason for that is their convenience for listeners. You can easily combine business with pleasure, for example, doing housework or driving to work while listening to a podcast in the background. Also, there are many advantages including podcasts in brand marketing, where they act as a tool for increasing audience loyalty, strengthening an image that reflects values and positioning, as well as driving traffic to the site or social media.
But once you've figured out how to start a podcast, you might wonder how to promote it. Where can you find the advertiser for a podcast? Let’s find it out.
Before looking for advertisers for a podcast, it's worth figuring out if the integration is effective at all.
Spoiler – it’s very effective. Now let's come closer.
Let's imagine you're walking through a supermarket and you hear a pleasant voice of a lady whispering: "Go to the sausage department and try the new smoked sausages." And you go. Or you're driving in the car and the radio announcer advises you of a tour operator who will take you to the Maldives. And you think of the Maldives the next time you choose a tour.
So, it's the same with podcasts and even better. A podcast is a handy audio tool that we got used to a long time ago, only in a new, personalized, and convenient wrapper.
Online music streaming services, applications for listening to podcasts, as well as online radio and audiobooks, are becoming an integral part of modern society’s life, which leads to an increase in audio advertising.
As a rule, podcast audiences don’t find these ads as intrusive as advertisements on TV or social media.
According to the Edison Research team, 44% of people focus on podcasts advertising more than on other media. At the same time, 70% of listeners thought about buying a product after hearing an advertisement in their favorite podcast.
These numbers show that podcast advertising is more than effective. Moreover, since it is auditory, it often simply cannot be missed, as in a YouTube video. This allows podcasts to be a very attractive area for sponsors and advertisers.
There are two types of podcast advertising:
For both types of ads, you can specify three placements:
#1. Pre-roll ad – a 15-second ad at the podcast’s beginning. The average price is around $18 per 1000 CPM.
#2. Mid-roll ad – a 60-second ad that will run somewhere in the middle. It can bring you $25 per 1000 CPM.
#3. End-roll ad – a 30-second ad that will play at the podcast’s final lap. You can get $10 per 1000 CPM.
The advertising embedded in the middle of the podcast is considered to be the most effective one when the listener listens carefully. So, changing the narrative helps to grab his full attention.
If you haven't had any experience in integrating ads into podcasts, try one episode where they talk about your brand in a pre roll (a promotional video that's uploaded before the show starts. - Ed.) Then buy ads in several podcasts that are close to your audience and spirit.
There are several basic ways to find advertisers for your podcast.
1. Join a network
When you go shopping, do you choose three different stores or a supermarket that has everything?
Follow the same pattern with podcasts. Large podcast advertisers often don't waste time looking for individual shows. They immediately turn to the podcast network, accessing thousands of authors that appeal to their audiences.
But be prepared to share the income. Most often it is 70/30, and unfortunately not in your favor. But in the early stages of development, this method works perfectly.
2. Get suggestions from the media host
The best podcast hosting websites often have an internal partner marketplace that registered podcasters can join for free. There you can find brands looking to promote their products on podcasts.
3. Wait for the sponsor's request
Don't think that if you are new to the podcast market, then you cannot be contacted by a sponsor.
For example, if Google or Apple Podcast Algorithms pick you up and include you into their charts, the chances that advertisers will turn to you are increasing.
What is needed for this?
4. Contact sponsors yourself
You can also take the first step and reach out to sponsors that fit your niche. To do this, listen to competing podcasts and make a list of companies that run ads. Likewise, browse blogs and social media posts close to your topic and find potential advertisers.
And the easiest way is to reach out to brands that are already successfully spending money on podcast advertising, regardless of niche. Perhaps there is someone suitable among them.
In the first 8 weeks after launch, Apple and Google algorithms put you in the rankings. They do it artificially, giving you a priority, so take advantage of this as more people will hear you. The first 8 episodes should be especially cool.
What to do in the first 8 weeks?
1. Build a support group
Take advantage of your surroundings. Leave feedback to each other, comment, like, surround yourself with like-minded people.
2. Collect reviews
Tell your listeners that you need support. Ask them to come in and like, write a review. With the help of ratings and reviews, your podcast will become even more popular.
3. Post intriguing content
Make a graphic or controversial quote from your podcast and post it on Facebook, Instagram.
4. Show backstage
Tell about your inner workings – this will be a good impetus to attract an audience.
5. Launch an announcement on YouTube
You can make a cut from funny moments, bad takes, or create a video from photos of the podcasters. So you intrigue, show that your podcast has a soul, and create traffic to the main site where your audio podcast is hosted.
6. Delve into partnerships
Find partners who will mention or invite you to their podcast. Become friends with colleagues.
7. Develop a habit
Understand when people are listening to a podcast. For example, when walking the dog or brushing their teeth, putting children to bed, or preparing dinner. Fit into their lives. Keep your podcast long enough so that people can get something done during it.
8. Call famous people
Look for ways to bring big names into your podcast – this will greatly motivate your audience to listen to your next episode.
Analyze the percentage of listenings till the end. If you have this percentage of less than 80%, then think about what exactly is wrong with your podcast – it may be too long or have a bad sound. By the way, choose podcasting equipment of high quality: the best microphone for podcasting is a must!
10. Engage your audience
The first 60 seconds are important. In a nutshell, tell listeners why your idea is unusual, explain what will happen in the next half hour. Tell your plan for further storytelling in the podcast. A lot of important information needs to be told at the beginning. You can start with a small spoiler of the most interesting in the episode.
11. Don’t ignore backlinks
Building backlinks helps to generate more organic traffic to the podcast itself, which is particularly helpful for those who aim for monetization.
12. Convert podcast to YouTube video
YouTube has proven to be a great platform for sharing podcasts and reaching more people. Make sure to spread your podcast and let millions hear you.
13. Make clippings
Post the most intriguing parts of the podcast to promote on social media like Facebook, Instagram, Twitter, LinkedIn.
It is worth promoting in podcasting for several reasons: firstly, this is a new communication channel, a huge field for experimentation, and secondly, a good source of income, as many brands want to try this channel for promotion.
But in conclusion, we want to say something bigger than advertising.
After all, if only 100 people are fans of your show, but they are top managers of large brands, CEOs, or opinion leaders, this is much better than an uncertain, albeit multimillion crowd.
Make a podcast with the heart so that people wait for each episode, and when there is no one, they get upset. And of course, make it so that sponsors themselves want to order advertising from you as you’re in the best podcasts 2021!