I cannot tell you how often I’m asked about pursing sponsorships as a monetization strategy… hint: it’s a lot! And as with most things, I think pursuing those relationships really depends on where you’re at in your podcasting journey and what your goals are for your podcast and business.
Which is why I decided it was time to do an episode all about sponsorships. This isn’t going to be a how-to on getting sponsorships, but rather a “things to consider” as you start crafting an external monetization strategy for your show.
So first things first, what does it mean to have or be a sponsor for a podcast.
This is actually not a cut and dried answer believe it or not. While being a sponsor means providing a monetary value to a show for visibility for you and/or your brand, the relationship itself and the way in which this is set up varies greatly from show to show.
(The actual definition for a podcast sponsor is: a monetary relationship in which one party pays for some form of visibility through ads and/or marketing materials in relation to a podcast… I actually made that up too because when I looked it up, all I found were blog posts.)
There are two very important words to remember as you pursue sponsorships… visibility and audience alignment.
The goal is for your audience, your show, and your sponsor to ALL benefit from the relationship you’ve created. i.e. if you have a vegan health show, you would not want Good Ranchers to sponsor your podcast. That is a no-win situation.
So you’d want to be sure that you’re only pursuing sponsors who would make sense for your audience.
But what are they looking for?
This is going to depend on the size and type of sponsor you’re looking for. It’s also going to depend on what kind of sponsorship package they’re purchasing. Are they sponsoring the entire podcast? Or are they sponsoring, buying ad spots, in a block of episodes? Or are they buying ad spots in episodes that are more aligned for their product or service?
Much of this will depend on what you’re looking to accomplish with this sponsorship relationship.
Listen in to hear everything you need to know before approaching sponsors, why your values play a huge role in sponsorship relationships, and things to consider as you begin creating your sponsorship packages.
Find the full episode show notes and additional resources at:https://kwellscompanies.com/024
Links & Resources:
The Cubical to CEO – (Bonus #6) WTH Is A Media Company?! Our Business Model ExplainedThe Get Paid Podcast
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