How to monetize your podcast in the UK? One of the most common methods for monetizing a podcast is collaborating with a sponsor and using your podcast to get paid for marketing the sponsor’s brand, product or service. This is an exclusive deal between you and a sponsor, agreed on terms that you are both happy with. You can find more about podcast advertising here:
Sponsoring podcasts or getting your podcast sponsored is easy. In the sponsorship you have a written contract that both sides, the brand and the podcaster but uphold to. Usually the deal will seem something like, the podcaster will receive x amount of money or products/services in return for advertising the brand and increasing their audience’s awareness of the brand.
When agreeing upon a price for the contract both the podcaster and the brand should take into consider the:
Brands usually decide the price they are willing to pay based on the CPM of the podcast and will suggest that they will pay x amount for every 5000 downloads or so.
In podcasting there are no set in stone podcasting ad rates, which is why its important to build a good relationship with your sponsor and to fully agree with the deal that’s on the table. On average in the UK sponsors are more willing to pay anywhere between £17-30 for every 1000 listeners, but this price increases to £20-35 for each individual member of their audience who signs up to the brand’s service or purchases an item (CPA).
Podcast advertising is the unique revolutionary marketing method which is already proving to be more effective that Facebook and Google adds due to its unique ability to target the ad to the desired audience. For more information on podcast advertising click here. There are many ways to advertise a brand on your podcast, from normal basic rolls to campaigns. Here is a list of engaging ways to mention a brand but without risking losing the integrity of your listeners or them feeling like you’ve sold them out to be said:
Some brands like to stick with more traditional methods and use rolls to advertise their brand, product or service on the podcast. There are three main types of ad rolls located in different areas of the show. Their location determines the prices of the ad:
Similarly, to the CPM and CPA the sponsor will fix a set price to each ad which will then be agreed upon. Pre-roll ads are usually the least expensive because of their length and due to being at the beginning of the podcast, it will be when listeners are settling in to the podcast. Mid-roll ads are the most expensive, again due to the location as the audience will be fully engaged by the half way mark of the show. Post-roll ad’s prices will be somewhere between the other two ads, usually around £15-20 as it is located at the end of the show as a final message to the audience. These prices are an estimate as there are no fixed rates on ad prices in the UK, therefore the sponsor or podcaster can suggest a price ranging anywhere from £8-25 for any ad.
Finding sponsors sounds a lot more daunting that necessary! In most cases as a podcaster, you already have an established brand, you have your niche. Therefore, you will probably already know of some businesses who are a perfect fit for your podcast. If you don’t want to go down this path on your own you can always use podcast agencies such as Podder and we will match you with a brand that is the perfect fit for your podcast. Other ways of finding sponsors for your podcast can be simply just looking online at your shared market and reaching out to a couple of businesses whose products or services you think could benefit your audience. Remember, your audience is key to monetizing your podcast, so always put them first. Don’t agree on the deal if you don’t think it’s in the best interest of your audience. After selecting a couple of businesses which align with your brand, you’re going to start want to perfect your elevator pitch and matching pitch deck. When this is all perfected and you have mentioned the million ways to how your podcast can benefit the sponsor, email that business with the pitch and estimate roughly what kind of advertising you think would benefit the company and how much each would cost. Take your time on your pitch and make sure you highlight all your shared interests and how you can offer something that nobody else can. After-all, you are proposing to be a company’s business partner so your pitch need to be perfect and professional, providing all the relevant information they need, such as:
When you have finished your gracious and detailed pitch and sent it to the business owner, remember to say thank you for their time and if you don’t hear back within a week or so, don’t be afraid to send a follow up email. For other monetizing methods, such as crowdfunding or asking for donations, check out these articles! Or, if you want to find out how to sell your expertise in your podcast, check out this article!