Podcast advertising costs can quickly spiral out of control if you aren’t careful.
Conversely if you do zero advertising for your podcast, then your podcast advertising costs will be minimal, but it’s also very likely that your listeners, shares, subscribes, and downloads will also be minimal.
Funny how that works… since it’s definitely not in the brochure, or at least not the version of the brochure that iTunes, Soundcloud, Spreaker and so on are passing out to unsuspecting would-be podcast hosts.
You get two weeks in “new and notable” style categories (at the most) with the channels, and after that you are on your own. It’s like the movie Catch-22, where the only time you can get an appointment with Major Major is when he’s not in his office to meet with you.
Huh? What about Major Major? I never read Catch-22.
If you don’t have any traffic to your podcast, you won’t move up the list into the top spots. If you don’t move up into the top spots, you’ll never get any traffic from the channels since you’re not in a position to get noticed. This is the same way the App Store and Google Play work for app developers, which is why it’s so hard to get your podcast (or your app) noticed.
If you listen to our podcast (and shame on you if you don’t!!!), you might already know that this weeks episode is all about how much you’ll need to spend in order to successfully market your podcast and how much podcast advertising costs are going to run you – based on the type of podcast and the ultimate goal you have for your podcast.
How do you know what kind of budget you should have for podcast advertising costs?
Hazel & Kim spend some time going over the ways to calculate what the podcast should bring you – either in advertiser revenue or in lead gen results (depending on what type of podcast you are producing), and how you can tweak your ROI to maximize your efficiency while spending as little as possible.
Obviously there’s a discussion about the mobile wallet and how using mobile updates as a key part of your podcast advertising strategy is one of the most cost effective ideas, not to mention that the response rate to lock screen updates is so much better than most other means of communication, including email.
The real idea here is to make sure you are promoting, marketing and advertising your podcast effectively at every juncture that enables you to do so.