David Ehrlich is the Director of Publisher Success at AdvertiseCast and the Founder of PodGo.co, which was acquired by AdvertiseCast. Listen to learn about how to get started in podcast advertising, including the myths and misconceptions you shouldn’t believe, the different types of podcast ads, and the advantage you may have by hosting a “small” podcast.
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“If You Build It, They Will Come”
“If you build it, they will come” is a myth many podcasters believe. However, only about 1% of podcasts average 37,000 downloads/an episode.
Only about 500 podcasts generate 50% of their revenue from the podcasting industry.
These numbers are important to keep in mind, for independent podcasters in particular.
A Listener is a Listener
Nowadays, as a podcaster, you’re “up against” major networks, celebrities, brands, and more.
On the one hand, this may seem intimidating. On the other hand, it’s a good reminder of the fact that a listener is a listener, whether you’re a hobbyist or a major network.
The Beginnings of Podcast Advertising
Podcast advertising as we know it today kind of began years ago, when Serial and its campaign with MailChimp skyrocketed advertising in the public eye.
As David shared, today, the average CPM (Cost-per-Mille, cost for 1,000 downloads) is $25.
Types of Podcast Advertising
David discusses a few types of podcast advertising.
With a “baked in” ad approach, a podcaster has an advertising slot not only in the content but in the actual file itself – and it’s never going anywhere.
Dynamically inserted ads see podcasters being able to insert an ad in a specific ad break. It enables podcasters to sell their backlog of episodes for specific occasions and campaigns, like in the case of a holiday special, for instance.
Once that campaign is finished, that ad break can be replaced with an ad break that features a different advertiser.
Then, there are Programmatic ads. These are typically studio-produced and are ads that go to a mid-roll. With this type of podcast advertising, podcasters can decide which ads to have and not to have (e.g. no political ads).
Sometimes, programmatic ads are geo-targeted, which means that different listeners may hear different ads, depending on where they are in the word.
Social Media Advertising vs. Podcast Advertising
For David, advertising on social media interrupts and it’s an example of how “scary” Facebook may be with knowing everything about its users – some of whom may feel monitored.
“Advertising on podcasts is a completely different animal for the fact that there’s typically a relationship between the host and the listener. Ads read by the host may not be seen as interrupting, rather as the podcaster sharing his/her thoughts on a particular product or service.”
How AdvertiseCast Can Help Indie Podcasters
AdvertiseCast has been helping independent podcasters because it lets them have the whole weight of the AdvertiseCast team behind them.
The AdvertiseCast team has relationships with industry and media buyers, and it enables indie podcasters to capitalize on that.
Additionally, it recently launched the so-called Emerging Podcast Program, which is dedicated to bringing podcast advertising opportunities (and money) to podcasters whose show has less than 5,000 downloads/episode.
Best Podcasts Suite to Sell Episode Backlog to Advertisers?
In David’s experience, through crime and movie review podcasts are well-suited for selling their backlog of podcast episodes.
The Power of… SMALL
David points out a very important mindset mistake many podcasters make: underestimating their ability to go out and find advertisers.
While it’s true that an indie podcaster may not be able to get a Fortune 500 to advertise on the podcast, a different thing can be said for a local business falling into the category of “your mom’s and pop’s shop”.
Being “small” gives you freedom to operate and connect with the type of podcast advertisers that other podcasters may be completely overlooking.
Having 500 downloads might not mean much to a big-shot podcaster but it’s important for you to remember that you have the undivided attention of 500 people listening to your show.
This is something that, if packaged in an appealing way, can lead you to advertisers – even if your podcast is a hobby. Chances are you have some expenses for your hobby… how would you like to be able to cover some, or all, of them through your podcast?
Common Mistakes to Avoid Making
During the interview, David pointed out to a few mistakes podcasters and advertisers make:
- Not having a clear Call-to-Action
- Having branding that isn’t spot-on
- Not knowing how to pronounce the advertiser’s name
Easier Way to Read an Ad Script
Some podcasters use a script, while others use a list of talking points or key concepts. Try reading, practice, practice, practice.
It’s the “Wild West” But…
For David, podcasting may seem like a mature industry but, in reality, it’s still the Wild West.
Despite that, it’s important to remember that, today, small podcasters have more opportunity than ever before to go out there and monetize their content.
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