New reports show that podcasting is steadily growing in popularity, especially among millennial consumers. Here’s how associations can make use of podcasting—and bring in some non-dues revenue dollars in the process.
Podcasts are a potential source of non-dues revenue.
Podcasting promos are memorable, and recent research released by the Interactive Advertising Bureau, shows that 65 percent of listeners are more likely to buy the advertised product after hearing about it on a podcast. That’s good news for advertisers looking for ROI and good news for associations looking to cultivate another crop of non-dues revenue. Still, most major advertisers might not immediately jump on direct sponsorship opportunities.
Associations have to get a little creative with it since podcasting is kind of an unknown for advertising but with 16 million people claiming to be avid podcast listeners in 2020...Now association sponsors are starting to see, ‘Wait, people are really listening.’”
Associations should proactively seek out those direct sponsorships, even if you’re just starting a podcast or don’t have data on how many are listening in. Think of it this way, with membership associations, you already have what would be assumed a guaranteed audience. Even if your association is just starting out, yet you have 10,000 members? Your mailing list is a place to start.
If your association is having a tough time finding direct sponsors for your podcast, you can go about it indirectly. If you already have advertising on your association website, in your magazine, or at the annual conference, that association goes to your advertisers and ask if you can add a mention on the podcast to your advertising package for an additional amount.
Affiliate marketing is another way to bring in some revenue on association podcasting. With a quick mention about a certain product and a special code, associations will make a percentage of the sale every time one of your listeners buys the product with the special code.
Podcasts are relatively inexpensive and easy to produce.
Because there’s not a lot of overhead costs associated with producing podcasts, you have the potential for acting as a great stream of non-dues revenue for associations.
You don’t have to do it yourself either. Groups like AVNation can help you create your podcast strategy and/or manage your podcast production. There are lots of options to take your good ideas and delegate it to a team that has deep expertise in podcast management.
Associations can get a podcast started with a mixer, a USB mic, and podcasting software for as little as $200. Since sound quality is vitally important, investing in a good mic is paramount to the success of your podcast.
Has your member association ventured into podcasting? Please share your experiences in the comments below.
