MONETISING A PODCAST
YOUR RETURN ON INVESTMENT
As you are talking directly to a captive targeted market, there is strong opportunity for sponsorship.
Sponsorship can take many forms in a podcast. It may be you introduce the podcast by saying “this podcast is bought to you by…”, or you may want to dedicate a couple of minutes talking about a sponsored product you believe your audience will be interested in.
Sponsorship does not necessarily need to be based on audience size, instead it could be based on other qualitative factors, such as location of your audience, interests of your audience, etc.
PROMOTING YOUR OWN SERVICES
Promote your own services whilst you have a captive audience already invested in what you have to say. As an audience’s trust grows and relationships develop they are far more likely to be open to hear about the services and products you offer.
Bill Gates correctly states “Content is King.” Therefore providing long form content to your audience in the shape of a podcast, allows you to hide your ‘sell’ whilst producing content for your audience consumption.
BUILDING RELATIONSHIPS BEFORE ALL ELSE
Podcasting allows audiences to feel as though they have a relationship with you before you attend that initial meeting, and builds trust with your listeners before they have purchased your product or service.
If your podcast also integrates guests, you can build authentic relations with guests whom maybe potential clients.
CREATE A PODCAST YOUR TARGET MARKET WILL BE INTERESTED IN
Most company’s aim is to get in front of their target market. Podcasting allows you to “get in front of your clients” in multiple ways. By creating a Podcast your target market will be interested in, you are creating content they want to listen to, whilst they are simultaneously getting to know you and what you offer.
ALL OF YOUR CONTENT IN ONE
Gary Vaynerchuk suggests that one podcast can be broken down into 17-20 smaller pieces of content. From quote cards, to smaller video clips, one podcast could produce a plethora of content for the week. If time is a challenge for you in terms of content marketing, podcasting is an extremely cost efficient way to cover your content marketing.
If your Podcast also incorporates guests, you can ask your guest to share the promotion of the podcast on their social media platforms, resulting in audience growth.
Podcasting can help define your position as an industry expert in your field. It offers the platform to be able to establish yourself, or your brand as the voice and face of an industry.
As you are the established expert, when audiences are in need of your products or services, the association is immediately with you.