Hey there, podcast fam! 🎧 Joanne here, and today we’re diving deep into the nitty-gritty of podcast sponsorships and affiliate marketing. I had a fascinating (and honestly, eye-opening) discussion with a potential sponsor, and I just had to share the juicy details with you. Spoiler alert: it’s all about knowing your worth and understanding the value you bring to the table.

Here's What Went Down

So, picture this: I’m on a Zoom call with a rep from a product company that approached me to sponsor the B Word podcast. As we started talking, it quickly became clear that we had very different ideas about compensation. They were all about affiliate payments, while I was expecting a traditional CPM (cost per thousand downloads) model. Their perspective? “Why should we pay someone to talk about our brand without guaranteed sales?” 🤯

Breaking Down the Basics

Let’s get real for a sec. Affiliate marketing is where you get a commission for every sale made through your unique link. It’s like the commission-based pay my husband and I know all too well from our sales backgrounds. On the other hand, sponsorships involve a brand paying you to promote their product to your audience, whether that’s on your podcast, newsletter, or social media. It’s all about brand awareness and trust.

The Great Debate: CPM vs. Affiliate Marketing

In the podcasting world, sponsorships are typically based on CPM rates, which hover around $25-$35 per thousand downloads. But this brand wanted to skip the CPM and go straight to affiliate payments. I had to explain that my role as a podcast host is to bring awareness to their product, not to guarantee sales. If they want sales, they need a sales team!

Why Knowing Your Worth is Crucial

This conversation made me realize how important it is to know and communicate your worth. Whether you’re new to the game or a seasoned pro, you need to stand your ground on your fee structure. It’s all about mutual respect and understanding the value each party brings. I suggested a hybrid model: a lower CPM rate combined with affiliate links. This way, it’s a win-win – I get compensated for promoting their product, and they benefit from any sales generated. 

Key Takeaways for Entrepreneurs

1. Know Your Worth: Whether you’re a brand or an influencer, understand the value you bring and don’t be afraid to ask for it.
2. Communicate Clearly: Have open, honest discussions about compensation and expectations.
3. Be Open to Hybrids: Sometimes, combining different models can lead to better results for both parties.
4. Stay Authentic: Only promote products you believe in and that resonate with your audience.

Click HERE to listen to the full episode on Apple Podcast!

At the end of the day, it’s about creating partnerships that benefit both the brand and the influencer. As a podcast host, your job is to inform and engage your audience, not to act as a sales team. So, know your worth, have those tough conversations, and always stay true to yourself and your audience.

Thanks for tuning in, and remember: you’ve got this! 💪 Until next time, keep shining and making those meaningful connections.