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We are talking with an online store in our niche that is interested in advertising on our show, but we don't know how to price ourselves. We have a pretty steady listenership. What are the best ways to put a number out there? $xx per show? per listener? per month?
thanks for any help you guys can give me.
Love how nobody touches this one.
Yakk, since early 2010, we spent about 2 years analyzing the industry, or lack thereof.
The reason advertisers stay away from podcasters is due to the profanity and use of copyrighted music etc. Also, as most do not conform to FCC Rules and Regulations, there is no bar set for advertisers to have any confidence in podcasters whatsoever.
Internet broadcasters however, maintain a level of professionalism and DO conform to FCC and other radio industry guildelines and DO maintain an advertiser base successfully.
As for pricing of what your individual space costs, there are many factors that go into pricing that out effectively and would depend on all of those factors (which vary with every show and/or broadcaster/podcaster).
It took us 2 years to figure out ours and it's no easy task. You likely won't get any successful broadcaster to give you the info you are looking for on this one.
thanks for the reply. We have already worked out a deal with the store that was talking to us, and they listened to a number of our shows beforehand. They signed on for a month, and recently told us they want to continue for a second. It's not a lot of money, but it's enough to pay for some services like Auphonic and maybe upgrade mics for some of our hosts. As a first paying advertiser I think we're happy with the deal so far.
Awesome job! Now, back to work! :D
There are two major reasons that podcasters are unable to attract advertisers: 1) Advertisers are not regular podcast listeners, and 2) few podcasters have enough downloads to generate business for the advertiser. Both problems have to be solved.
I was in the radio business for 22 years. I can tell you unequivocally that getting money out of advertisers is like getting meat away from a hungry dog. It takes a lot of sales training and skill to be able to sell advertising. The part that almost all podcasters and Internet broadcasters miss is that the skill set to successfully sell advertising is significantly more difficult to develop than is the skill necessary to produce a podcast.
There are stories of newspapers back in the fifties that when they built a new building, they put a window in the side of their building for people to come up to the window and buy ads, as if you were going to a theater to buy a ticket. It doesn't work like that any more. Advertising sales is probably the toughest sales job you can get. Over the years, we paid THOUSANDS of dollars for training. It was never easy.
Many podcasters who start a podcast and immediately get on "New and Noteworthy" think that advertisers should line up to give them money. While some people get lucky and find advertisers willing to take a gamble on them, it's the exception, not the rule. If you don't deliver results for your advertiser, they will not stick with you.
How much should you charge an interested advertiser? Like a friend of mine always said, "Get all you can, but whatever you get, make sure you're a bargain."
Well put Mike!
Pricing depends on you. There is no set price that i know about.
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How much should you charge an interested advertiser? Like a friend of mine always said, "Get all you can, but whatever you get, make sure you're a bargain." -
We ended up going with a price per show and a discount if they bought the month. We offered a pre-show spot on the podcast and our youtube segment and an end of show reminder. The store ended up buying October and we're pretty sure they're sticking around at least another month.
Give them somthing they would be interested in using, concerning their product.
