Murdok will be reporting from the Podcast and New Media Expo in Ontario, California taking place through Sunday.
Michael Geoghegan, CEO of GigaVox Media, and co-author of Podcast Solutions spoke on selling the unique value of your content and how to determine what your show is worth along with conveying it to advertisers, sponsors and investors.
Geoghegan said that you need to invest in yourself and establish value through demographics and find out who your audience is by doing a survey. You can use Podtrac for a free survey, he uses Survey Monkey. He said to remember things constantly change and not to let information become stale.
When establishing a relationship with advertisers you need to tell them what’s in it for them. Use a media kit to explain what your company is about and use demographics to target your audience and get advertisers involved. If you are going to make money with digital media advertising, get over your fear of money and numbers.
You can use an ad sales network but he warned that it can take a long time to receive revenue. On average it takes 150 days to get paid and never run an ad without an agreement. When you do run an ad you should track the link.
Geoghegan closed with saying that the goal is to offer value, keep clients retuning and then you can start working on successful podcasts.
Murdok Anchor Kara Ratliff contributed to this story.
