detail1601
A Panel Discussion
Monetize with Ads and Sponsorship
Galant, Barnako, Cochrane, Cobb, Selman
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[runtime: 01:11:06, 32.5 mb, recorded 2006-09-30]
It is challenging to clearly define a return on invest for advertisers in a podcasting world with few standards. At the 2006 Podcast and Portable Media Expo, podcasting, marketing and radio professionals discuss the challenges podcasters face when dealing with advertising and sponsorships. Because this is an entirely new market for advertisers, podcasters need to actively engage and educate them.
One of the strongest bargaining chips podcasters have, according to the panel of seven, is your audience and the connection you have with them. Podcasters need to learn how to sell this relationship and properly factor in the time they spend maintaining it. Moving beyond a hobby is hard work and requires a lot of effort – something which you should be compensated for.
The panel discusses ways to open the dialogue with advertisers and where to start negotiating rates, whether fixed or CP/M. They stress that podcasters need to be entrepreneurs, turning themselves into a business, and then take advantage of the niche nature of their podcasts: targetted advertising is very valuable. Sometimes it comes down to making a good pitch, and there are various ways you can prepare yourself if you take the time and effort to sell your podcast and prepare the metrics.
Frank Barnako is a start-up guy. He has helped create award-winning all news radio formats, built an 11-store retail chain in Washington, DC, toiled in local and national radio and TV, developed new media ventures with Gannett Co., including USA TODAY.com, and was a co-founder of MarketWatch.com.
Mark McCrery is an experienced Internet, business, advertising, and marketing professional. He has served on the executive team of a number of successful start-ups including: Co-Founder and Vice President of Marketing for Interactive Insurance Services which was acquired by Intuit in 1996, COO of Liquidity Link which was acquired by Reuters in 2001, and CMO of AperServ Technologies, a performance measurement company.
Murgesh Navar brings deep engineering, business-development and entrepreneurial expertise to the development, launch and growth of Podbridge. Prior to founding Podbridge, Navar co-founded Audiofeast, a start-up company that developed a consumer audio service for portable devices. His experience at Audiofeast led him to recognize the power of podcasting and the need for a business model to enable advertising in the new medium.
Todd Cochrane is the author of the award winning "Podcasting, The Do It Your Self Guide," published in June 2005. His professional background is in advanced aviation electronics and has served for 22 years in the United States Navy. His ongoing professional and personal interest in new technologies keeps him abreast of the latest developments in the technology world.
Jonathan Cobb is a technologist and multimedia maven, who has been creating technologies that power online media for over ten years. As General Manager of KWUR 90.3 FM in St. Louis, Cobb developed an early Internet audio streaming system there in 1996. In 2000 he created the first geographically distributed real-time Internet radio station.
Gregory Galant is the CEO of RadioTail, a firm that facilitates advertising in podcasts. He fell in love with podcasting when he started Venture Voice, a podcast that profiles entrepreneurs and venture capitalists.
Jay Selman launched Pinpoint Technologies Inc. in 1993 with $400 and a great deal of enthusiasm, today Pinpoint Technologies has grown to over 40 employees and $8,000,000 in annual revenues. Selman has over 20 years experience in sales management. He is also well versed in computer technology and has personally developed the majority of the software applications that Pinpoint uses to manage its daily operations.
