How to get a Podcast Sponsor
Sponsorship is one of the most popular ways to bring in significant money for your podcast, but how do you go about actually getting a sponsor? Here's a few tips to help you bag your first sponsorship deal.
Know your numbers
Before you attempt to reach out to sponsors, ensure that you understand the numbers.
Typically, sponsors will be interested in partnering with your podcast only if you have a minimum of around 1000 downloads per episode as they will base their price on a CPM basis, meaning that they'll pay you a certain amount per every 1000 downloads you generate.
Podcast hosting site, Anchor FM, suggests that the typical CPM for podcast sponsors is $15
However, it's important to note that not all sponsors expect the 1000 download average, some may partner with you based on your concentrated demographic or the potential of your show.
Identify your audience demographic
Talking of demographics, it's important that you understand who your audience are.
Here are a few things that you should know about your audience before you approach a sponsor:
- Age (e.g. 16-26)
- Locations (e.g. UK, mainly London, Manchester & Birmingham)
- Interests (e.g. business, entrepreneurship, marketing and podcasts)
It's crucial to know this as when you approach a sponsor, you will be able to get those attributes across, allowing the potential sponsor to easily evaluate your offer.
Identify potential sponsors and their contacts
By finding out the information above, it will also help you to find the most relevant sponsors as you can then search for brands in a specific niche.
For example, with our podcast (the 'If Only They Knew' podcast), our audience are young people interested in self-development, therefore I could search for brands providing online self-development courses and approach them to be a sponsor.
Perhaps compile a list of 10 brands that are very relevant to your audience/podcast and begin researching who to contact within those companies - LinkedIn and the brands' websites will be your best friends here!
Create a pitch deck
Now that you have your sponsors in mind and know who to contact, perhaps create a pitch deck to ensure that your first email has maximum impact.
A pitch deck is a brief, graphics-based presentation that showcases the purpose and value proposition of your podcast, giving you a better chance of convincing the potential sponsor to partner with you.
However, don't worry if you don't have great graphic design skills, you can use Canva to create pitch decks using 1 of their many templates.
Did you use these tips to get a sponsorship deal or have you gone via a different route? Let us know by commenting below or DM'ing us on Instagram via @IOTKPodcast.