Being a full-time podcaster is extremely tough especially if you don’t have a way to monetize your podcast. Without a steady source of income, it would be hard to run a full-time podcast. One way of monetizing the podcast is by getting sponsorship and although this might seem hard at first, it is still very doable.
With sponsorship, the podcaster can continue doing the podcast even without an external source of income. Of course, it would take a professional amount of sponsorship in order to achieve this and do the podcast full-time.
With the assistance of sponsorship, it would be easier to grow the podcast, use monetization to improve the quality of the podcast, and even be able to reach a wider audience. The podcaster should learn how to use sponsorship and handle sponsorship in a way that still makes it scalable.
Getting your first sponsorship might be the hardest thing to do at first but later on, when the podcaster is more versed in how to gain sponsorship, they will learn how to scale their podcast in a way that will afford them full-time support. Good sponsorship partners are generally hard to come by but the better the podcast becomes and the more the podcaster learns about how to get the right sponsorship, the easier things get.
Here are five ways to get sponsorship:
1. Build the brand identity
Building the brand identity is important and can be done through both time and quality content. Once the podcast is better defined and the audience knows what the podcast is talking about, the podcaster will be able to attract sponsorship that caters to that niche.
Defining the audience and the podcast makes it easier for the podcaster to pitch the proposal of sponsorship to companies. Having a defined brand identity also makes it easier for the podcast to attract the right sponsors.
2. Focus on not just the viewers but the sponsors
When making the podcast, the podcaster cannot just focus on the podcast alone. It is important to also focus on the companies that could be watching and how the podcast can be beneficial to those companies.
Making reviews of services could be a way of showing possible sponsors that your podcast is a voice to be heard since certain sponsors could be looking for a way to boost their credibility. Making the podcast attractive to sponsors is very important since it attracts possible sponsors.
3. Get engagements
It is important for the viewers not only to view the podcast but also to engage with what is being podcasted. The more engagements the podcaster has, the stronger the target market will be for the possible sponsors.
With a field of viewers ripe for possible sponsorship, the podcaster will be able to introduce the sponsor easier than without any engagement at all. Having viewers or an audience that only listens or watches your content is different from having an audience that actually engages with the podcaster.
4. Use sponsors to get more sponsors
When a sponsor has their partnership with the podcast tested, it is important to see results. Doing well with the first sponsor can also be something that the podcaster can show future potential sponsors. Make sure to promote the first sponsor well since the data can be used to attract additional sponsors later on.
The more sponsors the podcaster gets, the easier it will be to get more podcasters later on. In time, the podcast might find it easier to get more podcasters and support their podcast. This is why the first podcast is very critical to the success of the podcast in general.
5. Openly promote certain brands or companies
Sometimes, sponsors will give sponsorship to those already using their products or services. Promoting certain brands or companies is also a way for the podcaster to reach out to the companies they want to partner with.
These companies can be possible sponsors later on but this really depends. It is also not a guarantee that the podcaster can get sponsorships but it is actually a pretty good start. If the podcaster has no sponsors, there’s really nothing to use when promoting products or services that the podcaster is already using.
It is very important to take care of the sponsors that you might already have. It is also important that before the sponsorship, the podcaster defines the relationship of the podcaster and the sponsor. Having an agreement with a specific promotional extent and a specific timeline is very important. Permanent sponsorships with one-time payouts could be bad for the podcaster since they will have to carry the sponsor out and won’t be able to replace them if better offers come along.
It is important for the podcaster to be completely fair with how they start out with the podcaster. The podcaster should not offer too much to the sponsor but make sure to give enough to keep the sponsor interested. It is important to choose the sponsors as well and make sure to come to agreeable terms.
One big sponsorship is worth ten smaller ones. Generally, it is better to land one big sponsor instead of a lot of smaller sponsors. However, it would be nice to have them together. Make sure to have enough sponsors but not too much that it could be annoying to the viewership and audience.
In the end, the podcaster has to make sure that the sponsors do not interfere with the quality of the podcast. If the sponsor is too demanding, this could have a negative effect on the podcast in general. It is important to maintain the quality of the podcast while still accepting new sponsors throughout the podcasting journey.
The more experienced the podcaster gets, the better they will be at negotiating with potential sponsors over prices, durations, and what benefits the podcast will get as well. The first step is landing the first sponsor. Once the podcaster gets the first sponsor and does well, more sponsors will follow.