Episode 480: How to sell a $30,000 podcast sponsorship (Part 1), with Stephen Woessner.
Stephen is the CEO of Predictive ROI and the host of the Onward Nation podcast. He is the author of two bestselling books, speaker, trainer, and his digital marketing insights have been featured in SUCCESS, Entrepreneur, The Washington Post, Forbes, Inc. Magazine, and other media.
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Good Morning, Onward Nation and welcome to Episode 480 – this week’s solocast on selling a podcast sponsorship.
And I am so fired up for this discussion – that I can hardly wait to share a major success story from one of our Predictive ROI clients and avid listeners!
No hyperbole – this win is really off-the-charts amazing.
Here’s a brief backstory.
Many Onward Nation listeners are business owners whose primary focus each day is to drive business development for their company. To drive new revenue, from new customers, and within new markets.
All of that is consistent with the small business revenue data we consistently see…that points to how 43 percent of owners cite growing revenue as the top challenge within their company – so – winning at biz dev needs to be at the forefront of an owner’s vital priorities.
And breaking down the 43 percent for a second – that number – 43 percent – represents over 12 million business owners in this country who are concerned about growing revenue.
One of the proactive and super successful biz dev strategies proactive business owners have implemented is to put a podcast out in front of their core business – and then – to use their show as I like to call, a Trojan Horse of Sales – meaning – their podcast drives new client revenue into their core business by opening up biz dev relationships with the guests they interviewed for their show. Very smart and my Predictive ROI team are experts at helping owners of business-to-business professional services firms drive hundreds of thousands, if not millions of dollars in new revenue into their companies, through our Podcasting for Profit System. It is awesome.
If you haven’t started your own podcast – but – you like the sound of having a Trojan Horse of Sales out in front of your business – then I encourage you to go back to Episode 445 of Onward Nation for the full recipe – in complete transparency – so you can take and apply all of the step-by-step ingredients.
And then, a couple weeks ago, I took our biz strategy even deeper during Episode 460 by taking you on a deep dive into how to get a sponsor for your podcast worth $10,000 to $100,000.
But – I want to make sure I am very clear here – the recipe I shared in Episode 460 was not my recipe. It is a recipe I learned directly from the brilliant and super talented Linda Hollander. Linda is one of today’s leading authorities on how to sell podcast sponsorships to top tier sponsors – and – our incredible guest on Onward Nation and she was kind enough to let me pick her brain for Chapter 16 of my upcoming book. Thank you, Linda – you are a rock star!
Now, Linda’s podcast sponsorship recipe is not just any recipe – it’s a recipe that can help you sell a $10,000 to $100,000 sponsorship for your business.
Again, no hyperbole. It is truly that awesome.
Here…I’ll prove it.
A Podcast Sponsorship Case Study
Dave Mammano, a three-time guest here at Onward Nation, host of the Avanti Entrepreneur Podcast, and one of our Predictive ROI clients…decided to sit down and really study Episode 460. He wanted to learn from Linda all about how to get a sponsor – and then – what did he do?
He immediately…and I do mean immediately, Onward Nation…he immediately applied what he learned. He went to work creating what Linda calls the “Sponsorship proposal.”
He then emailed me the draft and I could see that he had applied Linda’s insights and wisdom exactly as she had recommended.
He wrote his story – he shared insights into the good – the challenges along the way – and all of those things that make Dave the amazing, awesome, and incredible business owner he is today.
He talked about his previous company that he recently sold and the story behind his latest venture. All in brilliant storytelling form.
Dave’s proposal also included details about his podcast, his YouTube channel, and all of the other ways he communicates with his growing nation of true fans within in his community.
And when he was all done – he went out and started to sell it.
Then Dave called me a few days later and let me know that he sold a $30,000 podcast sponsorship to the company called, Paychex.
Yes, Onward Nation – Dave sold a $30,000 annual sponsorship that stretched over his podcast, YouTube channel, all of the other properties within his business.
Definitely an incredible result outcome for Dave – but – it is also a real testament to the community, purpose, and high-quality content his Avanti Entrepreneur team are building.
And one of the most incredible aspects of the sales process is that the negotiations with Paychex were never about monthly downloads, website traffic, social media shares, or email optins.
Instead, the focus was about aligning the Paychex brand with Dave’s content and his ever-growing nation of true fans because both companies serve the same customers.
Create Properties to Attract Sponsors
So Onward Nation, your ability to sell your own $30,000 or even a $50,000 sponsorship, or a $100,000 sponsorship rests solely on you creating “properties” that attract the prospects and customers who your sponsor wants to be doing business with – and – that you create the type of culture a prospective sponsor wants to be aligned with.
That should be your biz dev strategy, Onward Nation.
And of course, it’s exciting to think about monetizing your content by building a YouTube channel with hundreds of thousands of subscribers or a super popular Instagram account.
But for most small business owners…becoming Internet famous…is not what is going to move the needle…and it shouldn’t be your vital priority.
To be clear…I am not saying credibility on social media doesn’t matter…but…what I am saying is that just because you don’t have a million followers, doesn’t mean you can’t build an incredible core business where sponsors will absolutely want to pay you $50,000 to be part of the special relationship you are building with your customers and nation of true fans.
What you do need above anything else is the confidence to know that it is possible.
That you can do it.
That you can be successful.
That you can deliver value to a sponsor.
That you have built an audience, a customer base, a loyal following – no matter the size – who value you, who love you, who appreciate your opinion, your insights, and they look to you for guidance. How amazing is that, right? You have so much to be grateful for.
The Podcast Sponsorship Recipe (Part 1)
Okay, let’s bring Dave’s success, and how you can do it too, back into focus.
I didn’t want to get you all fired up – and encourage you to go out there and start selling – without taking an opportunity to arm you with even more strategy and step-by-step process.
Yes, the recipes provided in earlier episodes will provide you with the right tactical ingredients – but in addition to Dave’s success story – I also received feedback from other listeners who felt they needed more detail. In fact…they wanted a lot more detail.
When I shared Dave’s story with them…they encouraged me to ask him to come back to the show and take us step-by-step through each and every detail that he experienced along the way.
Great push back, Onward Nation – thank you.
So I asked Dave – and – he agreed to come back and share each and every step…all the granular detail.
How he wrote his story.
What he decided to include or exclude.
How he designed the Pitch Deck or the visual format of his proposal.
How he presented it to Paychex.
And every detail in between.
Dave is going to share his story with you in full transparency because hearing his words may help move past any of the reservations – any of the hesitancy – any of the fear you may be feeling – that may be holding you back.
And we are going to air that interview on part 2 of how to sell a sponsorship two weeks from today, Onward Nation…Episode 490 on Wednesday, May 10th. Be sure to listen…download it…share it with other business owners who you think can benefit from the recipe…this biz dev strategy could be a game changer for your business and my hope is you will take advantage of it right away.
Get Out There and Try
So, Onward Nation, here’s what I want to leave you with today.
The key to success with this biz dev recipe, or any of the biz dev recipes we share here, is to beat the imposter syndrome and get out of your own head, to allow yourself to study this recipe, and to give yourself the opportunity to apply it.
Who cares if the first prospective sponsor you approach says no?
So then you make some revisions to your proposal and you keep right on going.
Just think about all of the studios and production companies that told George Lucas no – that his idea for Star Wars wasn’t going to go anywhere.
Or, the many editors from many publishers who told JK Rowling that her story about a young boy, a wizard named Harry, didn’t have what it took to be successful.
Well, billions and billions of dollars in sales later, and we all know what happened when the creators of Star Wars and Harry Potter believed enough in their purpose and vision – amazing things!
Will your business enjoy similar success?
I don’t know – but the point is – the only way you will know for sure is if you get out there and try.
Some sponsors will say no – but all you need is 1 to say yes.
Be sure to listen to Episode 490 that will air two weeks from today – May 10th – and you will get the exact roadmap – the exact recipe from Dave Mammano’s success.
So with that said…I want to say thank you.
Thank you for being here and for making Onward Nation what you listen – what you study – and maybe what you take with you on your morning run – or your daily commute.
However we fit into your compressed schedule – I want you to know how much I appreciate you sharing some of your invaluable time with me today.
And I encourage you to listen to tomorrow’s episode with Mark Stoner, who built and scaled his business from a one-man operation to now being featured in the primetime television show Blue Collar Millionaires on CNBC.
You will not want to miss, Mark, Onward Nation. He is rock solid awesome!
Until then – onward with gusto!