July 29, 2024 • 12 mins
Maximizing Podcast Monetization: Five Mindset Tips for Selling Ad Space
In this episode of 'Podcasting Badass,' host Sober Steve discusses effective strategies for monetizing your podcast through ad space sales. Drawing inspiration from working with a client on a geo-local podcast, Steve shares five essential mindset tips to confidently sell ad reads and ad space. He emphasizes the mutual benefits for sponsors, listeners, and podcasters, the evergreen nature of podcast ads, and the idea of building partnerships rather than mere transactions. Tune in to learn how to present your podcast as a valuable platform for advertisers and listeners alike. For personalized assistance, visit SoberSteve.com and schedule a time to connect today!
00:00 Introduction to Podcast Monetization
00:29 Mindset Tips for Selling Ad Space
00:34 Understanding Geo-Local Podcasting
01:54 Building Confidence in Your Value
05:17 The Evergreen Advantage of Podcast Ads
06:48 Forming Partnerships, Not Transactions
08:59 Adding Value Beyond Ad Reads
11:14 Conclusion and Call to Action
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Steve (00:01):
Hey there everyone.
Welcome to a new episode ofpodcasting.
Bad-ass I'm your host soberSteve, the podcast guy.
And if you were looking to sellad space with your podcast, as
one method of monetization, thisepisode is for you.
After listening.
If you're ready to grow yourbusiness with your podcast, you
can visit sober steve.com tosign up for a free brainstorm
session to brainstorm ways toget your podcasts started and
(00:23):
launched, or a tune up to helpincrease your downloads with
your existing podcast.
But first.
Let's discuss five mindset tipswhen selling ad raids and ad
space with your podcast.
So the inspiration for thisepisode is because I was talking
with a client who we are in theprocess of helping him create a
geo local podcast.
Which means that it is a podcastthat while you can download it
(00:46):
anywhere around the world, themajority of the purpose of the
podcast is to help support hislocal business.
And he's going to be targeting.
Local advertisers and localplaces to be able to monetize
this podcast.
And so it works a littledifferently than traditional
online ads and marketingopportunities where you're
targeting these big companies.
(01:07):
Instead, you're targeting a lotmore smaller businesses that you
might find are really goodpartners for your podcast,
talking money at all, I'verealized is not something that
other people have a decade plusof doing like I did before I
started podcasting.
As I was brainstorming some waysfor him to go around town,
asking for people to invest inhis podcast, I was noticing some
(01:30):
objections came up out ofinsecurities that I realized
that many podcasts have, andthese are fears and things that
we need to get over.
If we're going to be trulypodcasting bad-ass is.
Which is what led me to thisepisode to help spread some of
the tips and tricks that thatI've gotten with my mindset over
the past 10 years or almost 20years at this point.
(01:51):
Of doing sales and marketing inone way, shape or form.
So the first that is true withyour podcast.
If you've done the work and theresearch in advance and know
your vision.
Is that you were doing thecompany a favor.
When you were offering forsomeone to invest in coming on
your show for ad reads for a fewepisodes, you are pairing them
(02:15):
with their ideal client, ideallybecause you've already done your
homework.
You know who your ideal listeneris.
So when you are talking to thesepeople, you can say explicitly,
my listeners are people who loveX, Y, and Z.
And so I will leave that this isthe right fit for you because of
a, B and C.
And when you are able to explainto them, why you are able to get
(02:38):
them in front of their idealcustomer, because their ideal
customer lines up very similarlyto your ideal customer.
It.
Shows them that you are a matchmade in heaven and that they
should be investing in the adreads with you.
So just know that you are doingthem a favor there.
It is not an uneven exchange.
If anything, in the end, theywill probably make more money
(02:59):
from your ad than you will makefrom their investments.
So feel very comfortable goinginto any conversation about
selling ad space that you werein the seat of, like you are
doing them a favor.
In addition to that.
So many times we all have issuesand insecurity about what it's
going to be like, introducingthese brands to our customers.
And so the other benefit ofknowing who your listeners are
(03:23):
and making sure that the adsthat you're having them listen
to are ones that they're goingto have value in is that you
also know that you are doingthem a favor as well.
When you were going to work outthese.
Negotiations with thesecompanies for them to sign up to
have you do their ad reads forthem, or get involved with the
show in any way, shape or form.
(03:43):
Not only are you doing them afavor, but you're also doing
this amazing thing for yourlisteners or you're connecting
them to this awesome resourcethat they didn't even know about
before.
That is a huge value that you'rebeing able to spread around
where everyone in this situationis winning.
And so you can go into thisconversation knowing that you
are helping everyone involved.
There are no losers here.
It's 30 seconds of their lifewhere they were already doing
(04:05):
something else anyway, becausemost of us multitask a little
bit while podcasting.
It'll just go in one ear and outthe other, if it doesn't
resonate and sing to them, theway that it likely will, if
you're doing your homework withyour matchmaking.
So with that you have numberone.
And you're doing the company,the favor to you were doing the
listener a favor.
And then we get to three.
(04:25):
That at the end of the day,podcasting is the best form of
advertising for companies rightnow, hands down for most brands,
it is an absolutely no brainerbecause you are going to be
offering them a lower cost thanadvertising in other forms of
media, like radio, which yes,radio people still spend
thousands in bigger companiesspend like hundreds of
(04:46):
thousands, if not more intoradio where it's a very certain
select demographic that hears itonce.
And then it just disappears intothe void.
Or even if they're investingmore to do things like Hulu ads
or streaming ads right now,those are a set they are
launched for a set period oftime.
They play there.
X number of impressions that youpaid for them they'd disappear
(05:07):
into the void or TV commercials.
It works the same way.
So many other ways that weadvertise right now when people
are investing in it, they getthe ad played once and it goes
away.
But podcasting is evergreen.
Which means that it's somethingwhere not only are you going to
have all those listeners whodownload the episode when it
comes out.
Here about this brand that youtalk about during your ad rate,
(05:29):
but also when people downloadthat episode, six months later,
one year later, three yearslater, That ad is still going to
be there.
In a unique way that doesn'texist in any other form of
advertising.
Right now that is a gold thatlike I'd have worked with people
before that have come on mysenior living podcast.
I stopped that podcast when Ileft the job that it was
(05:49):
associated with, but the homehealth agencies, the hospitals,
the brands that I introduced onthe show would report back
months.
And even years later that theywould still occasionally get a
phone call saying, Hey, I justfound this podcast.
And it hasn't had episodes in awhile, but.
You were one of the lastepisodes and I really loved what
you talked about.
Can you still help me?
(06:09):
And they were like, yeah, ofcourse I can.
But it just shows that it's notjust something that happens
right away.
It's something that grows overtime as your show grows.
And especially if you aregetting ready to launch your
podcast or your podcast is stillin the beginning stage of things
where you are offering a lowerprice for advertising.
Then you might, when yournumbers triple or, 10 X over
(06:30):
time.
So you want to make sure thatlike the.
They want to get in while thegood, the going's good because
that's just going to get betterfrom here as your podcast grows
and it's going to be great forthem that they get this huge
bang for this small buck.
If going over, all of that stillfeels very heavy for you.
Another way to look at it asalso that you're not doing a
(06:51):
transaction, like a one anddone.
Wham.
Bam.
Thank you.
Ma'am give me your money.
What you're doing with thesepeople?
Isn't a transaction.
You're forming a partnershipwith them.
This is giving the company thatyou're offering a chance to
complain your sandbox and becomefriends, or at the very least
become business networkingpartners.
The value goes beyond justreading the ad.
(07:12):
It extends to everything thatyou'll do in their life.
With their brand, as theysupport you, you will support
them.
So whether that looks like notjust being on the podcast
itself, but also doing postsabout that ad or about the
partnership.
Talking about the brand whenyou're out at networking events
or even out in real worldreferrals.
(07:33):
Most of us do a very excellentjob of taking care of those who
take care of us.
I know that if anyone invests inmy brand, I'm going to be
singing about their brand aswell.
And then we believe in eachother and we help each other
grow together.
And so that is what you aregiving these people a chance to
do when you are coming to them,to offer them a chance to invest
in your show.
As a new partner is a chance toget in and build this great
(07:57):
relationship where you both willwin and you both will grow and
you both will succeed together.
Together, as opposed toconsidering a transaction where
you're selling something.
And the most wonderful thingabout podcasting still being
very indie in so many otherways.
Everyone knows about podcastingright now, but there really is
no industry standard where thisis exactly what you know,
(08:19):
there's no mathematical equationsaying that if you have this
number of downloads for thisshow for this niche, and this is
the genre that the going rate isthis, there is general large,
broad strokes that, for ad readson a.
Small to medium sized show couldbe a thousand dollars, but
that's not anything like writtenin the Bible where you can't
play with it, depending on whereyou are in your podcasting
(08:40):
journey, where your listenersare at, and the number of
listeners you have and where thecompany is that you're trying to
partner with are at, in theirjourney.
But you got to build this valueyourself as your podcast or for
your show.
So you get to go around and seewhat does doing an advertising
read look like for your show?
Are you going to just expectthem to send you an ad and then
(09:03):
you'll read it and then go onwith the show and there'll be
like very easy for you, but itwon't be as personalized or
warmed, or if you're going toadd that extra value to really
go above and beyond andpersonalize and tailor.
Like their product.
To the way that you talk to yourlisteners so that when you do
that ad.
They know that it's like,they'll know it's an ad because
you're talking about a product,but at the same time, you're
(09:23):
going to be coming at it thesame way that you come into
anything else that you're doingon your show.
And you're going to be usingyour jokes and talking in the
way that you talk and engagingwith them, and it's going to
have a lot more impact.
So that could be a way that youprovide value.
With your ad, you can alsoprovide value.
If let's say they really investbig at the end of the time that
they're done advertising do likea big, thank you.
(09:44):
Welcome to them.
By having them on your show insome way, shape or form, they
might not be your ideal guest oryour coaching client or whatever
it is that you're looking for.
But if they are really goingabove and beyond with you, and
you're forming this partnershipafter the ad space is and you do
your reads for X number ofepisodes that they want to keep
playing.
You can figure out ways toincorporate that.
(10:05):
You can also then make sure thatif you're doing any sort of free
downloads or freebies, thatthere's mention of them in there
as well for additionaladvertising space.
You can also be doing Instagramlives with them or sharing their
information on your differentsocial media platforms of your
choice or their choice, andinviting your listeners to like
their pages.
There's so many ways that youcan add value into your program
(10:26):
in a way that feels right toyou.
I just threw a whole bunch ofpaint at the wall.
Some of that's going to stickfor you and some of it's not,
but the great thing is that'swhy I work with my clients on
finding the right approach andthe right strategy for them to
make sure that.
At the end of the day, when Jimgoes out and is working on
finding his geo localadvertisers, he's going to go
into those conversations like abad-ass.
(10:49):
Get those sales and quickly havehis podcast management monetized
before launch even happens.
It's gonna be fabulous.
So you just need to make surethat you're going into it with
the confidence that you havesomething to vet, like that's
going to offer a value, not onlyto the company, but your
listeners.
And that it's going to be avalue that you believe in
because you're forming apartnership.
And at the end of the day,podcasting's the best form of
(11:10):
advertising, the same way as thebest form of everything.
It's awesome.
So hopefully those five tipshave helped you get into a
bad-ass mindset and you wereready to go out there and work
out some advertising deals foryour show.
If you need any more help,definitely reach out to me so
that we can help talk thatthrough.
You can visit me@sobersteve.com.
(11:32):
Make sure though, either way, ifyou've loved this episode,
follow it wherever you'relistening.
Cause they come out everyMonday, but also give a five
star review.
Five star reviews are a huge waythat these apps and algorithms
say, wow, this is good stuff.
We should show more people.
So if you like this, give a fivestars.
If you love it, also write atext review.
It could be like literally fivewords saying I love this show.
(11:54):
Steve and that's good enough,but like having a written review
also huge for the app.
So please pay a forward.
If you found this informationhelpful by following and leaving
a review until then keep onpodcasting like a bad ass.
I look forward to talking withyou soon.
Hey there everyone.
Welcome to a new episode ofpodcasting.
Bad-ass I'm your host soberSteve, the podcast guy.
And if you were looking to sellad space with your podcast, as
one method of monetization, thisepisode is for you.
After listening.
If you're ready to grow yourbusiness with your podcast, you
can visit sober steve.com tosign up for a free brainstorm
session to brainstorm ways toget your podcasts started and
(00:23):
launched, or a tune up to helpincrease your downloads with
your existing podcast.
But first.
Let's discuss five mindset tipswhen selling ad raids and ad
space with your podcast.
So the inspiration for thisepisode is because I was talking
with a client who we are in theprocess of helping him create a
geo local podcast.
Which means that it is a podcastthat while you can download it
(00:46):
anywhere around the world, themajority of the purpose of the
podcast is to help support hislocal business.
And he's going to be targeting.
Local advertisers and localplaces to be able to monetize
this podcast.
And so it works a littledifferently than traditional
online ads and marketingopportunities where you're
targeting these big companies.
(01:07):
Instead, you're targeting a lotmore smaller businesses that you
might find are really goodpartners for your podcast,
talking money at all, I'verealized is not something that
other people have a decade plusof doing like I did before I
started podcasting.
As I was brainstorming some waysfor him to go around town,
asking for people to invest inhis podcast, I was noticing some
(01:30):
objections came up out ofinsecurities that I realized
that many podcasts have, andthese are fears and things that
we need to get over.
If we're going to be trulypodcasting bad-ass is.
Which is what led me to thisepisode to help spread some of
the tips and tricks that thatI've gotten with my mindset over
the past 10 years or almost 20years at this point.
(01:51):
Of doing sales and marketing inone way, shape or form.
So the first that is true withyour podcast.
If you've done the work and theresearch in advance and know
your vision.
Is that you were doing thecompany a favor.
When you were offering forsomeone to invest in coming on
your show for ad reads for a fewepisodes, you are pairing them
(02:15):
with their ideal client, ideallybecause you've already done your
homework.
You know who your ideal listeneris.
So when you are talking to thesepeople, you can say explicitly,
my listeners are people who loveX, Y, and Z.
And so I will leave that this isthe right fit for you because of
a, B and C.
And when you are able to explainto them, why you are able to get
(02:38):
them in front of their idealcustomer, because their ideal
customer lines up very similarlyto your ideal customer.
It.
Shows them that you are a matchmade in heaven and that they
should be investing in the adreads with you.
So just know that you are doingthem a favor there.
It is not an uneven exchange.
If anything, in the end, theywill probably make more money
(02:59):
from your ad than you will makefrom their investments.
So feel very comfortable goinginto any conversation about
selling ad space that you werein the seat of, like you are
doing them a favor.
In addition to that.
So many times we all have issuesand insecurity about what it's
going to be like, introducingthese brands to our customers.
And so the other benefit ofknowing who your listeners are
(03:23):
and making sure that the adsthat you're having them listen
to are ones that they're goingto have value in is that you
also know that you are doingthem a favor as well.
When you were going to work outthese.
Negotiations with thesecompanies for them to sign up to
have you do their ad reads forthem, or get involved with the
show in any way, shape or form.
(03:43):
Not only are you doing them afavor, but you're also doing
this amazing thing for yourlisteners or you're connecting
them to this awesome resourcethat they didn't even know about
before.
That is a huge value that you'rebeing able to spread around
where everyone in this situationis winning.
And so you can go into thisconversation knowing that you
are helping everyone involved.
There are no losers here.
It's 30 seconds of their lifewhere they were already doing
(04:05):
something else anyway, becausemost of us multitask a little
bit while podcasting.
It'll just go in one ear and outthe other, if it doesn't
resonate and sing to them, theway that it likely will, if
you're doing your homework withyour matchmaking.
So with that you have numberone.
And you're doing the company,the favor to you were doing the
listener a favor.
And then we get to three.
(04:25):
That at the end of the day,podcasting is the best form of
advertising for companies rightnow, hands down for most brands,
it is an absolutely no brainerbecause you are going to be
offering them a lower cost thanadvertising in other forms of
media, like radio, which yes,radio people still spend
thousands in bigger companiesspend like hundreds of
(04:46):
thousands, if not more intoradio where it's a very certain
select demographic that hears itonce.
And then it just disappears intothe void.
Or even if they're investingmore to do things like Hulu ads
or streaming ads right now,those are a set they are
launched for a set period oftime.
They play there.
X number of impressions that youpaid for them they'd disappear
(05:07):
into the void or TV commercials.
It works the same way.
So many other ways that weadvertise right now when people
are investing in it, they getthe ad played once and it goes
away.
But podcasting is evergreen.
Which means that it's somethingwhere not only are you going to
have all those listeners whodownload the episode when it
comes out.
Here about this brand that youtalk about during your ad rate,
(05:29):
but also when people downloadthat episode, six months later,
one year later, three yearslater, That ad is still going to
be there.
In a unique way that doesn'texist in any other form of
advertising.
Right now that is a gold thatlike I'd have worked with people
before that have come on mysenior living podcast.
I stopped that podcast when Ileft the job that it was
(05:49):
associated with, but the homehealth agencies, the hospitals,
the brands that I introduced onthe show would report back
months.
And even years later that theywould still occasionally get a
phone call saying, Hey, I justfound this podcast.
And it hasn't had episodes in awhile, but.
You were one of the lastepisodes and I really loved what
you talked about.
Can you still help me?
(06:09):
And they were like, yeah, ofcourse I can.
But it just shows that it's notjust something that happens
right away.
It's something that grows overtime as your show grows.
And especially if you aregetting ready to launch your
podcast or your podcast is stillin the beginning stage of things
where you are offering a lowerprice for advertising.
Then you might, when yournumbers triple or, 10 X over
(06:30):
time.
So you want to make sure thatlike the.
They want to get in while thegood, the going's good because
that's just going to get betterfrom here as your podcast grows
and it's going to be great forthem that they get this huge
bang for this small buck.
If going over, all of that stillfeels very heavy for you.
Another way to look at it asalso that you're not doing a
(06:51):
transaction, like a one anddone.
Wham.
Bam.
Thank you.
Ma'am give me your money.
What you're doing with thesepeople?
Isn't a transaction.
You're forming a partnershipwith them.
This is giving the company thatyou're offering a chance to
complain your sandbox and becomefriends, or at the very least
become business networkingpartners.
The value goes beyond justreading the ad.
(07:12):
It extends to everything thatyou'll do in their life.
With their brand, as theysupport you, you will support
them.
So whether that looks like notjust being on the podcast
itself, but also doing postsabout that ad or about the
partnership.
Talking about the brand whenyou're out at networking events
or even out in real worldreferrals.
(07:33):
Most of us do a very excellentjob of taking care of those who
take care of us.
I know that if anyone invests inmy brand, I'm going to be
singing about their brand aswell.
And then we believe in eachother and we help each other
grow together.
And so that is what you aregiving these people a chance to
do when you are coming to them,to offer them a chance to invest
in your show.
As a new partner is a chance toget in and build this great
(07:57):
relationship where you both willwin and you both will grow and
you both will succeed together.
Together, as opposed toconsidering a transaction where
you're selling something.
And the most wonderful thingabout podcasting still being
very indie in so many otherways.
Everyone knows about podcastingright now, but there really is
no industry standard where thisis exactly what you know,
(08:19):
there's no mathematical equationsaying that if you have this
number of downloads for thisshow for this niche, and this is
the genre that the going rate isthis, there is general large,
broad strokes that, for ad readson a.
Small to medium sized show couldbe a thousand dollars, but
that's not anything like writtenin the Bible where you can't
play with it, depending on whereyou are in your podcasting
(08:40):
journey, where your listenersare at, and the number of
listeners you have and where thecompany is that you're trying to
partner with are at, in theirjourney.
But you got to build this valueyourself as your podcast or for
your show.
So you get to go around and seewhat does doing an advertising
read look like for your show?
Are you going to just expectthem to send you an ad and then
(09:03):
you'll read it and then go onwith the show and there'll be
like very easy for you, but itwon't be as personalized or
warmed, or if you're going toadd that extra value to really
go above and beyond andpersonalize and tailor.
Like their product.
To the way that you talk to yourlisteners so that when you do
that ad.
They know that it's like,they'll know it's an ad because
you're talking about a product,but at the same time, you're
(09:23):
going to be coming at it thesame way that you come into
anything else that you're doingon your show.
And you're going to be usingyour jokes and talking in the
way that you talk and engagingwith them, and it's going to
have a lot more impact.
So that could be a way that youprovide value.
With your ad, you can alsoprovide value.
If let's say they really investbig at the end of the time that
they're done advertising do likea big, thank you.
(09:44):
Welcome to them.
By having them on your show insome way, shape or form, they
might not be your ideal guest oryour coaching client or whatever
it is that you're looking for.
But if they are really goingabove and beyond with you, and
you're forming this partnershipafter the ad space is and you do
your reads for X number ofepisodes that they want to keep
playing.
You can figure out ways toincorporate that.
(10:05):
You can also then make sure thatif you're doing any sort of free
downloads or freebies, thatthere's mention of them in there
as well for additionaladvertising space.
You can also be doing Instagramlives with them or sharing their
information on your differentsocial media platforms of your
choice or their choice, andinviting your listeners to like
their pages.
There's so many ways that youcan add value into your program
(10:26):
in a way that feels right toyou.
I just threw a whole bunch ofpaint at the wall.
Some of that's going to stickfor you and some of it's not,
but the great thing is that'swhy I work with my clients on
finding the right approach andthe right strategy for them to
make sure that.
At the end of the day, when Jimgoes out and is working on
finding his geo localadvertisers, he's going to go
into those conversations like abad-ass.
(10:49):
Get those sales and quickly havehis podcast management monetized
before launch even happens.
It's gonna be fabulous.
So you just need to make surethat you're going into it with
the confidence that you havesomething to vet, like that's
going to offer a value, not onlyto the company, but your
listeners.
And that it's going to be avalue that you believe in
because you're forming apartnership.
And at the end of the day,podcasting's the best form of
(11:10):
advertising, the same way as thebest form of everything.
It's awesome.
So hopefully those five tipshave helped you get into a
bad-ass mindset and you wereready to go out there and work
out some advertising deals foryour show.
If you need any more help,definitely reach out to me so
that we can help talk thatthrough.
You can visit me@sobersteve.com.
(11:32):
Make sure though, either way, ifyou've loved this episode,
follow it wherever you'relistening.
Cause they come out everyMonday, but also give a five
star review.
Five star reviews are a huge waythat these apps and algorithms
say, wow, this is good stuff.
We should show more people.
So if you like this, give a fivestars.
If you love it, also write atext review.
It could be like literally fivewords saying I love this show.
(11:54):
Steve and that's good enough,but like having a written review
also huge for the app.
So please pay a forward.
If you found this informationhelpful by following and leaving
a review until then keep onpodcasting like a bad ass.
I look forward to talking withyou soon.
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