Not making money in podcasting? You are doing it all wrong.

April 13, 2016

 

Who is your brand connecting with? Why are you connecting with them? How are you connecting with them? Do you think that TV viewers and radio listeners actually take the time to listen to your message? You spend millions of dollars each year to get your messages out and convince people to buy your product and every year, the result is the same. Not enough. So why are you trying to shove a square stick through a round hole? I remember hearing some Network Execs at the RAIN Conference in Las Vegas say a few years back, “There is money to be made in podcasting. We can just put ads in everywhere and automate it and then we will start making money.

 

Here we are 5 years later and still nothing. Sure, there are some shows that are doing very well and making money but are all of them? How is your podcast doing? Are you making money? Are you making more sales because of your podcast? You should be. The podcasting audience is exploding. As of April, 2016, more than 1 in 3 Americans have listened to a podcast. In fact, 13% (35-million Americans) listen weekly. As Edison Research has established in the past, the weekly users are super-listeners who average five shows a week.  Still, nobody discovered how to really make money in podcasting.

 

Well not nobody. Plenty of us have but the 1% isn’t making that money. They are trying to. Have you noticed how so many companies are now trying to get on board the Podcasting ship? Amazon just launched their platform. The only problem is that while the 1% isn’t making their money, the other 99% isn’t making their money either. Yes, you could go ahead and give your shows to a platform and let them insert ads, but for smaller podcasts that’s a $30cpm rate and that won’t cover the bills. Plus, when you got into podcasting, you were trying to get away from radio, and a $30cpm with inserted ads sure sounds like radio to me.

 

This is where I believe that brands come in. What if you could be an exclusive sponsor on a podcast? What if you could pay $5000 per month or more or less to be the sole sponsor and supporter of a podcast that you believe in? Sure the audience will be smaller than you heard they were in radio, but this is a different audience and a different medium. Radio never had anyone’s full attention for 30 minutes. Radio never had the connectivity of a host and his/her listeners as much as podcasting does. One of the main reasons is that this is no longer push media. It’s about the Pull.

 

The listener is the boss. The listener decides if they want to listen and when they do, then listen longer and with more intention, focus and desire to support the podcasts they love. There are no skip buttons because why would you skip it if you chose it? Pandora, Spotify, or anyone who is trying to learn your trends and give you something they think you like can call themselves pull media. That’s just Push in disguise. Would you rather have an audience of 1000 that chose to listen to you? Or 1,000,000 that actually don’t give a shit? When I see articles like this in the WSJ, my mind is blown. You still don’t get it. This is not radio!

 

Marketers know that having a faithful audience that shouts your name from the rooftops is the best kind of audience to have. You will never have that in radio. You have that everyday in Podcasting. This is where your marketing dollars should go. They will go farther and they will have more effect than any other platform. Video can show you tears. Radio can stir your emotions. But podcasting can capture your heart, your sole and your attention longer than anything else. So as you get ready for the year to start anew in June. Don’t just stick another ad into a podcast. Be a part of one. Support the whole thing. There’s millions of great ones to choose from. Find your own voice with the help of pull media and share it with the world via the future’s best new medium, podcasting.

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