Building on the previous post about how monetizing your podcast is all about finding the right sponsor, I found another company willing to try podcasting as a way to reach a niche market.
I've used this software to lose weight in the past. I used it, and lost weight. I quit using it and I found the weight. I approached them and said, "I'm doing this podcast, and I want you to sponsor it." I explained how I would be talking about how I'm using the software, and how I would be losing 25 lbs in the next 4 months.
While I'm not ecstatic about the deal, (I had some concessions), I was able to set up a strategy. The bottom line is to get into the head of the advertiser. They want results. They want ROI. They want some stats on downloads, clicks, etc. Here is what I'm doing.
I will be tracking the clicks from my site to theirs.
We have a coupon code for listeners to get 15% off (so we know the podcast is affecting sales).
They will place a link to the podcast on their site to help promote it (not on the front page – my concession, but if it starts bringing results, I believe that will change).
There is a base CPM (Not my favorite program, but it ensures I get paid in case this fizzles).
I get paid a commission per sale.
Because this is a niche (a saturated niche, but a niche none the less). There is potential if I provide good content. I've taken something I love (losing weight), and I approached this podcast with the sponsor in mind. If the sponsor had not come on board, I would've still lost the weight. However, I wouldn't have created the podcast.
Last but not least, the trial is for 3 months, and will be renegotiated at the end of the term.
Details and links to come when everything is set up and ready to go.