One of our goals for this year’s report was to look more closely at Podcast Networks and Podcast sponsorship, to see how they are being used, and how companies can think about integrating them into their own content strategies.
There was a slight increase in network participation this year, with 43% of the shows being part of them. 31 of these where what we call content networks, and 12 were broadcast. Content networks are shows all built around a particular theme – they can either produce in-house, or have their individual shows handle their own production, and broadcast networks produce a variety of content in addition to podcasts – like news or training organizations.
You might be wondering whether you should try to find a podcast network to join – or maybe you’re even considering starting one of your own. Podcast networks are a lot of work to create - but the benefits of them can be huge in terms of shared promotion, cross-posting, other content channels you have access to like YouTube and social media.
There is currently lots of room for new podcast networks in the industry – but that probably won’t be true forever! Hit reply if you’d like to talk about starting your own network!
If you’re considering joining an existing network, what you’ll want to know before committing is:
What are your responsibilities in terms of content, production quality, allowing advertisements and social promotions?
What benefits you will be entitled to in terms of promotion, networking, profit sharing, etc?
You may or may not be expected to include a notice that you’re a member of the network or do a certain amount of promotion for the network as a whole.
Sometimes, joining a network can be a fantastic move for your show and your business – other times, it’s not a great fit. The choice is yours – just make sure you have a clear understanding of the benefits and responsibility, and that they work for you and your goals!
Now, on to premium versions of podcasts. About the same number of the top 100 (10% this year 11% last year) had premium versions available for sale, either through the network or a premium podcasting service. 3%, interestingly, had a limit on the number of show notes (articles) you could read on their website. As a rule, we don’t recommend premium versions - there are better way to fund podcasts, and the space needed to promote your premium version can generally be used more effectively.
Now, let’s talk sponsors – this year there were fewer sponsored shows among the top 100 – 49% compared to 61%- this might be due to the greater variety of show topics and types, but may also be that business podcasts are finding there are better ways to monetize like selling products and services, or just reaping the indirect benefits like name recognition and audience engagement.
We also looked at what kind of assets and mentions sponsors were receiving, as well as the placement of ads and reads within episodes.
Most shows that had sponsors linked to them in the show notes (although not all!) a very few got logo placement somewhere on the podcast website, and in one instance the guest seemed to be the sponsor – this can be a good strategy to enhance a sponsorship package! When it comes to audio ads, we found roughly equivalent numbers of dynamic/produced ads and host reads, although it should be mentioned we were not able to be 100% confident we caught every host read! Dynamic ads are advertisements that are pre-produced, then inserted into a show on the host-end, often for a certain number of downloads, or a certain length of time. The ad “spot” can be reused in the future for new ads. Host reads can be inserted dynamically or baked into the main body of the audio – they key difference with them is that the host reads it instead of it being produced externally.
Pre and Post rolls were the most common places to find sponsor ads, followed by host reads at the top of the show. We counted 8 definite midrolls but are fairly sure there are more within the top 100.
As ever, host reads are more valuable than dynamic/produced ads, so if you’re looking at designing a sponsorship package, include your own read – the more customized and personal the better!
What does this mean when it comes to designing your own sponsorship package? The first question is – should you have sponsors at all?
It can be great to offset the costs of production, but that doesn’t always mean it’s worth giving up your valuable airspace. You can always use “sponsor” space to talk about your own products and services, or to arrange cross-promotions with other shows – typically, these are better options for business podcasts.
If you are highly niched or highly downloaded however – the equation can change! A good sponsorship package will include audio ads, either dynamically produced or host read, and generally links that listeners, or readers of the show notes can follow to take advantage of offers. There are different services that allow you to connect with potential sponsors, and you can approach companies you know and like to create special deals that might include anything from interviewing a representative of the company, to sending a dedicated email to your list.
If you aren’t ready for sponsors now, but want to have the option available in the future, use “sponsor” places to promote your own products and services, or a charity or non-profit you’d like to support – it will give you a good example of what a sponsor spot will sound like, and there won’t be any “shock” to the audience when you switch up the ad for something else.
That’s all for today! Next up we’ll be talking about Show Parts and Technology and why Guests are still an important part of most B2B podcast strategies! Cf. One Stone Creative
Mick Smith, Consultant M: (619) 227.3118
E: [email protected]
Commercials Voice Talent:
https://www.spreaker.com/user/7768747/track-1-commercials
Narratives Voice Talent:
https://www.spreaker.com/user/7768747/track-2-narratives
Do you want a free competitive analysis? Let me know at:
https://marketing.wsiworld.com/free-competitive-analysis?utm_campaign=Mick_Smith_Podcast&utm_source=Spreaker
Website:
https://www.wsiworld.com/mick-smith
LinkedIn:
https://www.linkedin.com/company/wsi-smith-consulting/
Make an appointment:
https://app.hubspot.com/meetings/mick-smith
Be sure to subscribe, like, & review The Doctor of Digital™ Podcast:
https://www.spreaker.com/show/g-mick-smith-phds-tracks
Sign up for the Doctor Up A Podcast course:
https://doctor-up-a-podcast.thinkific.com/
Fan of the show? Support the episodes here:
https://podinbox.com/thedoctorofdigitalpodcast
Patreon:
https://www.patreon.com/SmithConsultingWSITheDoctorofDigitalPodcast
Become a supporter of this podcast: https://www.spreaker.com/podcast/the-doctor-of-digital-gmick-smith-phd--1279468/support.
