If you’re looking to take your podcast to the next level and monetize your passion, finding the right podcast sponsors is a crucial next step. Monetizing your podcast through sponsorship is the most common first step into podcast monetization. In this blog post, we’ll guide you through the process of finding the right sponsors for your podcast, sponsors that align with your podcast’s content and values.
Because that’s really the key for success when you’re looking to monetize your podcast through sponsorship. From understanding your target audience to discovering where you can look to build up your potential sponsor list, we’ll provide you with valuable insights and actionable tips to help you secure the perfect sponsors for your show. Let’s dive in and unlock the potential of sponsorship opportunities to fuel your podcasting success!
Podcast Sponsors as a Podcast Monetization Strategy
But before we get into the “how” of finding the right sponsors for your podcast, let’s talk about podcast sponsors as a podcast monetization strategy. This is a really popular podcast monetization strategy for a number of reasons.
Firstly, it allows you to make money from your podcast without having to create any of your own products or create additional content. In addition, it can be a great way to build relationships with brands and companies who might be interested in working with you in other ways down the line.
But the reason why we think it’s a really great way to monetize a podcast is because it can work for shows of almost any size, provided they have a loyal audience. (And this is one of the reasons why we’re such big advocates of building a strong podcast community around your show.)
Looking to build your own podcasting community? Then check out the Podcasters Platform! The Platform is a great place to meet fellow podcasters, enhance your podcasting skill set through the courses provided on the Platform, and just a great space to gain the support and encouragement of others on the same journey as you. For all this and so much more, we highly recommend signing up to the Podcasters Platform today!
If you can show potential sponsors that you:
- Have a loyal audience, and that they…
- Trust what you say…
You can prove to these potential sponsors that your podcast is a great candidate for sponsorship. Because this shows potential sponsors that there is a high probability that any ads or promos placed in those sponsored episodes will convert.
*NOTE: We recently shared a post about how to negotiate a deal with your podcast sponsor. It’s a helpful read…after this one!
But before you can have any of those conversations, you have to first find those potential sponsors for your podcast. So, back to the topic at hand, how to find the right sponsors for your podcast. We have eight key strategies to share with you today that will help you zero in on who could be the right sponsors for your show.
Let’s get into it!
Strategies for Finding the Right Sponsors for Your Podcast
1. Understand your audience
First up, you have to have a really clear understanding of your audience. What do they like? What are they passionate about? What do they do for fun? No question is irrelevant here. You want to really know who your audience is. You should have created a really clear audience profile when you first started your podcast, as this is what helps you consistently create the kind of content they’re after. (If you haven’t done this yet, we highly recommend doing it now!)
But as you look to monetize your podcast through sponsorship, and finding the right sponsors, it’s time to refine this audience profile even more.
Because if you know what your audience is in to, the problems they have, and the products and services that would appeal to them, you’re already on the right path for finding the right sponsors for your podcast.
2. Look at your niche
The next strategy for finding the right sponsors for your podcast is to look at your podcast niche. Define this clearly. Then, start looking for those brands and businesses which fall within the same niche as your podcast.
Why is this so helpful?
Because if you can find brands that are within the same niche as your show, they will serve the same target audience. Meaning your listeners will already be who these brands and businesses are targeting as their customers and consumers. And this means it will be that much easier to secure a YES when you approach these brands as sponsors.
Show that your audience is their audience, too, and you’re likely looking at one of your next podcast sponsors!
3. Look at aligned niches
For Strategy 3, you’re opening up your search by looking at niches that are aligned to your podcast niche.
This strategy follows the same reasoning as the above. But in this case, your target audience provides the opportunity for the brands to reach a wider audience and find new customers. Something that any brand or business is always looking to do!
So if you can show that by sponsoring your podcast, these brands or businesses would have a fantastic opportunity to attract new consumers and expand their reach, that’s a win for you when it comes time to approaching and securing potential podcast sponsors!
4. Look at other podcasts
Our next strategy for finding those top-notch sponsors for your podcast is to scope out other podcasts.
Other podcast hosts could potentially be great sponsor options for your show!
The key for this strategy working effectively is to focus on podcasts that serve the same target audience as yours. Think about it. Since your podcast audience is also their podcast audience, sponsoring your podcast is a great way for them to grow their audience.
This could also lead to some great connections being made and friendships being forged between your fellow podcast hosts. And that’s always a win!
5. Leverage your personal circle
Next up, another really good place to look for podcast sponsors are within your personal circle.
Your network is a great resource to go through when you’re looking for potential sponsors. These people already know you, like you, and trust you. So it makes sense that they would be willing to sponsor your podcast. Think of friends, family members, business contacts, or even former colleagues who could potentially be interested in sponsoring your show.
As a more strategic approach, you could focus your attention on those friends, colleagues, or acquaintances who work in industries relevant to your podcast. If they’re not the right fit as sponsors, they might be able to introduce you to suitable sponsors or provide valuable advice on how to approach sponsorship opportunities.
Another avenue of potential podcast sponsors to explore within your circle are your local businesses. Local businesses are often overlooked but can be a great source of sponsorship. Local businesses, such as restaurants and small stores, know they have to compete with larger brands. But usually don’t have the budget for marketing. You can offer them an affordable way to get their name out there while helping you grow your podcast and monetize your show at the same time. There could be tons of potential here!
6. Utilize podcast networks
If you’re looking for a more structured approach to finding sponsors, podcast networks can be a great option. These podcast networks help to create exclusive sponsorship opportunities with popular brands and companies that are looking to advertise on podcasts.
These networks and agencies act as intermediaries, connecting podcasters with potential sponsors. They have established relationships with advertisers and can help match you with sponsors that align with your podcast’s niche and goals.
If you want to read further on the stats surrounding podcast advertising, check out this report from Sounds Profitable: The Medium Moves The Message.
7. Attend industry events
Another strategy to find potential podcast sponsors is to attend podcast events. Podcast-focused events, conferences, and meetups provide excellent opportunities to network with potential sponsors.
Not only can you learn more about the industry and hear from other podcasters, but you can also meet potential sponsors face-to-face. This can be really beneficial because it helps you build strong relationships with these sponsors. Engage in meaningful conversations with industry professionals, be prepared with your “elevator” pitch, and you could be leaving with some fantastic podcast sponsors. Or, at the very least, the potential for future collaboration opportunities.
Related read: Exciting Podcast Events Happening in 2023 Part 2
8. Ask your audience!
Finally, ask your audience! Who better to inform the decision-making process when it comes to successful podcast sponsorship than the people you’re actually creating your content for!
So reach out to your audience and find out what brands they love. You can do this through surveys, polls, social media, or through your podcast newsletter.
Your audience picks would make great candidates for your potential podcast sponsors, as you will then be able to show these brands that your audience is already interested in what they offer. This would then, obviously, be a great opportunity for these brands to convert your loyal podcast listeners into their loyal customers and supports. That’s what we call a win for all!
As you prepare to find the right sponsors for your podcast, remember that this is a process. And it’s a process that requires determination, strategic planning, and perseverance. There are going to be some “no’s” along the way. That’s life. But there are definitely ways to stack the odds in favor of more “yes’s”.
By leveraging the strategies we’ve discussed in this blog post, you can enhance your chances of attracting potential sponsors that will be more likely to give you a postive response. Because you’ve been strategic about who you’ve approached.
Remember to always keep your audience at the forefront as you build up your list of the potential sponsors. This really is the key to finding the right sponsors for your show. Have the relevant data ready, showcase your winning personality and your passion for your podcast, and you’ll be one step closer to landing the right sponsors for your podcast!