Out of interest regarding the podcast advertising - how much does that sort of thing cost? Obviously there's going to be differences based on the podcast, listeners, etc but as an vague number were you looking at $hundreds, $thousands?
Per episode with the size audience mentioned, you're looking in the hundreds. Start out with one advertisement to test the waters. I ran one advertisement that had good results (5-10x return). Like an idiot, I assumed I milked the cow dry and should look for other podcasts or advertising mediums in general. That was dumb. I booked a couple of episodes again with Release Notes that produced the same ROI.
If you're having success with an advertisement, don't be afraid to double down and spend thousands. Ideally, you should get a bulk discount from the show.
I don't have conversion rates based on % listener or cost per listener. Would love to see podcast advertising evolve to this point in the future, but it certainly hasn't yet.
The folks at Baremetrics (https://baremetrics.io/) run an awesome service for monthly recurring Saas companies that use Stripe. If you know what your lifetime customer value is, you really have more faith in your advertising dollars.
Awesome stuff thank you - I'm currently creating a podcast hosting service, advertising on podcasts themselves seems an obvious choice to look into. I aim to have something that allows podcasters and advertisers to easily interact - that bit about ROI for advertisers has given me a bit of inspiration! :)
