Have you asked yourself, “how do I make money podcasting?”
If you didn’t start a podcast for that sole purpose, usually somewhere along the way many creators consider getting paid for all their hard work.
One of the first monetization strategies pursued is often podcast advertising, quickly followed by the question, “How do I get podcast ads?” Who are the people that represent brands looking to advertise in podcasts, and how do creators find them?
Glenn Rubenstein, Founder & CEO of ADOPTER Media, has worked in podcast advertising for more than a decade and has spent $20M on behalf of brands in the past year. Glenn shared his secrets to media buying success below.
1) Use the Phone
So much of modern business is done on email and being willing to have a conversation with someone can set you apart. Also know what your goals are, your KPIs and what you’re looking for out of the relationship.
2) Use All Tools Available
Understand who you’re working with and who else they’ve worked with. From Podsight to Podscribe to Magellan and more, there are resources to research who’s buying what, where, and give you a higher perspective.
Get your ears in tune with the storytellers and shows that would represent your brands. Hear what their content sounds like and the other ads so you can imagine how your buy will play out. Also, listen for competition.
4) Seek Out Podcasts That Have a YouTube Presence
Trend-wise, YouTube could save podcast advertising from over-monetization. Look at these largely live show recordings that tend to do embedded baked-in reads. Those are the ones that perform better.
5) And Finally, a Warning: Google Your Host
Take the name of the host you’re considering to partner with and search their name + “Controversy.” It’s amazing how a simple Google search can solve a lot of headaches down the line.
Glenn offered some great tips for media buyers, giving the average podcaster the chance to see the media buyers strategy. So, the Libsyn team jumped in to add five tips that Podcasters can use as they look to enter the exciting world of podcast advertising!
1) You Can't Rely 100% on Your Mic
Comfort behind the mic might be your sweet spot, but if you want ad dollars, be ready to jump on the phone and talk business. Do your homework. You should know standard industry podcast ad rates, and be ready to talk audience demographics, psychographics, and download stats.
2) Know What Brands are Advertising
Look at what brands podcast ad agencies are working with, so you have realistic expectations for ad types, and brands. Not every brand is investing in podcast advertising. Ask around in forms or Facebook groups or work with a podcast ad agency like AdvertiseCast to learn more about current brand and podcaster relationships already in place.
3) Listen and Practice
Take a moment to listen to your podcast for spaces where ads can become a natural part of your show. Maybe practice recording an ad before you go looking for advertisers. Do you sound natural? It might take a few tries to feel comfortable. Also, remember to put yourself in your audiences’ ears and think about how advertising will impact their listening experience.
4) Consider Your Content’s Presence on All Platforms
Consider all the platforms you are publishing your podcast to and where you might be able to include them as additional ad inventory. Do you have a large email list? A large Facebook group? These are all additional proof of reach and engagement to include in a sell sheet to a media buyer. Keep an eye on what the larger shows are doing and consider what extra production efforts have real ROI for you.
5) And Finally, a Warning: Google Yourself!
Media Buyers are doing their homework on your podcast and you as the host. Make sure your reputation is brand-worthy, and your content is original. Review your social media feeds and consider if they align with the kind of brands you want to attract. Brands are not just partnering with your podcast; they are aligning themselves with YOU.