This week we’re talking about Money, Money, Money, and breaking down podcast ads otherwise known as commercial spots! We also touch on how to create your very own commercial one sheet!
I think we can all pretty much agree podcasts are awesome! They are one of the few digital platforms that promote “friendly traffic”. For example, podcast audiences are loyal and tune into shows multiple times a week. In turn, listeners have established trust with the host and the podcast in general, forming somewhat of a friendship.
In podcast advertising, ad spots are simply time slots within a podcast episode that brands purchase for advertising. The average number of podcast listeners has doubled in the last year and businesses are expected to spend over $500 million in podcast advertising in 2020. With that being said if you have not already implemented podcast advertising in your marketing strategy, what are you even doing in life? We’re kidding of course, but seriously podcast advertising provides a huge opportunity to increase brand awareness and revenue. So, keep reading if you want a basic rundown of how to get started advertising your business through podcasts and how to make money with a commercial one sheet!
Time Slots & Time Slot Reads:
When you buy a podcast ad, you’re buying a time slot, usually somewhere from 30 seconds to 1 minute and 30 seconds. Time slots give podcast hosts the opportunity to discuss your product or brand. There are three main types of time slots you can choose for your ad time.
Pre-roll– a 15-50 second ad at the beginning of the podcast.
Mid-roll– a 1-1.5 minutes in the middle of the podcast.
Post-roll– a 15-30 second ad at the end of the podcast.
The most valuable time spot is mid-roll because listeners are more engaged and less likely to skip through the ad. If you don’t want to spring for a mid-roll ad, a pre-roll spot is the second-best option. People are more likely to listen to a commercial before the show starts then after it ends!
Now that you understand the different time slots, it is essential to know what type of read you should purchase. Choosing the right time slot read is crucial because it affects the actions your listeners take after hearing the ad. There are two types of time slot reads.
Live read–This is when hosts integrate your product into the current episode in an authentic way, maybe even improvising on the spot.
Recorded read–This is a timeslot in which a host pre-records an audio commercial about your product that will be played during a specific time slot within the podcast episode.
In our experience, live reads resonate more with audiences because they feel more genuine and conversational. People are more likely to follow a brand or buy a product if the advertising appears less scripted, and more organic.
Podcast Advertising Cost:
Like most things in life, the type of ad spot you decide on will depend on your budget. Podcast advertising cost is based on the show’s popularity, subs (people who follow your podcast), downloads (any time an episode file is downloaded), and a number of actual listeners (how many people actually listened to the episode after downloading). A podcast’s audience size is determined by how many downloads each episode receives on average over a 30 day period. Then the ads are typically priced on a CPM (cost per mille or cost per 1,000 listeners) model, based on the number of episode downloads. Rates can range anywhere from $18 to $50 CPM, depending on the popularity of the show.
Industry Standard for 2019:
We’ve found the standard rate for podcast commercials in 2019 are as follows:
- Ads: 30 Seconds ($18)
- Ads: 60 seconds ($25)
Commercial One Sheet:
If you don’t know what a commercial one sheet is, take notes! In order to make money off of your podcast, you need a commercial one sheet. We repeat you need a commercial one sheet! A one-sheet is a single page that provides information about your company or a particular product or service. This page is used to attract sponsors to purchase ad time on your podcast. In this case, your commercial one sheet will highlight a brief overview of your podcast (bio, episode plays, episode downloads, listener demographics) and your advertising rates. We personally like to include advertising packages to offer more incentives to potential sponsors. Now, if that still sounds overwhelming, don’t panic! Since we adore you guys so much, we’ve attached a commercial one sheet downloadable template here. You are just one click away from having your very own podcast commercial one sheet!
We want to hear your thoughts on podcast commercials down below! And if you’re new to the podcast game check out our ecourse on how to start a podcast for $47.00.