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Mimi from Get High on Motivation asks, "How much should I charge for sponsorships?" TL;DR If you're to get sponsors for your podcast, the first question is often "how much should I charge?" So in this episode, we'll break down how to price your ads when pitching potential sponsors.
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Intro
"How much should I charge?"
How is pricing determined?
How to set your prices
Outro
Gilon:
In today's episode, we are going to help you determine how much you should charge for sponsorships. Welcome to Podcasting Q&A, where you learn the best tips and strategies to launch grow and monetize your show. This week's question comes from Mimi,
Mimi:
Hey, this is Mimi, the motivator, your favorite motivators, favorite motivator, host of the get higher motivation show. And my question today is in regards to monetization. So I know we have the outlets and opportunities to get sponsorship. But when we have to pitch the amount that we are charging for a pre roll or mid roll or whatnot, how do we decide on how much that part I am completely confused about? Thank you.
Gilon:
Thank you so much for your question, Mimi. For a lot of people podcasting is a passion project. But for many others, it can be a source of income, we're talking monetization people. So we are going to explore how to set your price for ads in today's episode. So let's discuss how rates are determined. industry standard is CPM cost per mille. And mill is just a fancy Latin word for 1000. Essentially, it's how much potential sponsors are willing to pay per 1000 downloads a podcast gets this pricing structure works best if you have a larger podcast that gets a significant number of downloads. Another great pricing structure is CPA, which is cost per acquisition. And this is a good structure if you're maybe a smaller podcast, but you have an amazing engaged audience, you and a potential sponsor negotiate on like a finder's fee, you run the ad, after the ad run, they'll give you basically like a kickback for how many people signed up or purchase the product. If you're familiar with the world of affiliate marketing, or those fun little swipe up ads on Instagram. This is that when it comes to setting your price for podcast ads, it can be a little bit tricky. So Alban got a chance to sit down with Agnes the co founder of popcorn to gain some insight into setting a price for you that's comfortable and profitable,
Alban:
one big hang up for a lot of podcasters is that the beginning they just have no idea what to charge? Should they charge based on the number of people listening to the podcast? Should they try to come up with some sort of value pricing? Based on the relationship they have? They don't know the answer to that. They also don't know what are reasonable rates to begin with. Can you give us an idea of how to price ads and sponsorships.
Agnes:
So it also like depends of like the how native this stuff is that you're doing. When you're doing the host read stuff, what we tend to see podcasters get hired for on the platform. And again, like you could charge whatever it is that you want, like on popcorn, we let creators set their own pricing, we really wanted to open up the marketplace or host read ads, whether it's like pre roll or mid roll, we see a range between 15 to $30. CPM. But when you're doing stuff that's more native, like an interview, or a product overview, or having a guest that's really, you know, maybe perhaps like you're not an expert in the brands field, but your guest is an expert, and they're a big influencer. So like that puts a premium on on your face. So for that when things are more integrated, and a little bit more longer form, we see creators take anywhere between 25 to $50. CPM, or, you know, if you're smaller and you're under 1000 downloads, then I really recommend working off of like a flat rate. So just decide like maybe, you know, for$100 you'll do the interview and like you charge more on the creative and your expertise in the field and sort of justify it that way. Or Or perhaps you could charge a bigger fee and just sort of do a package of like, Oh, I'm going to give you five host read ads one interview and just figure out what what a flat rate fee might be for that for the content.
Gilon:
Thanks for listening to Podcasting Q&A. If you have a question that you would like us to answer on a future episode of the show, just go to speakpipe.com/Buzzsprout or click the link in the show notes to leave us a brief audio message. Make sure you're subscribed to the Buzzsprout YouTube channel to watch future episodes of Podcasting Q&A, or subscribe to the podcast in your favorite podcast listening app. That's it for today. Thanks for listening and as always keep podcasting
