Giveaways On Podcasts – Don’t Be A Sucker

It is no secret I am on the side of the podcaster when it comes to monetization. One of the most common opportunities that presents itself for podcasters is an offer from a manufacturer or marketer/wholesaler to give away some of their product for free to listeners of your show. Now at first blush, this sounds like a great idea right? Your audience will love you for giving away free product. Hold on and think it through. It is always a good idea to do something for you audience, but if you want to charge $500 or $1000 to sponsor your show, should you forgo that to give away a $50 product for free? Your listeners benefit, your sponsor gets what they want and you are left in the contest fulfillment business with no revenue. Doesn’t sound all that great to me. Your audience is worth something, whether it is a sponsor message or a giveaway. (My partners and I at Grape Radio have a set price for a giveaway on the show: $500. We consider it separate from the main sponsor rate: $1300.) Consider setting a give-a-way or contest rate, otherwise you are working for free. For more thoughts take a listen to this week’s Podcast Brothers.