Building recurring sponsorship revenue — Benjamin Shapiro & Todd Hines // I Hear Everything

Benjamin Shapiro and Todd Hines, CEO and Head of Content Operations respectively, recap this year on the MarTech podcast. Recurring revenue is more valuable than one-off revenue, and that was I Hear Everything’s aim when they decided to overhaul their sponsorship programs. By standardizing these programs, they’ve been able to build a recurring revenue model and they can now help other podcasters grow and monetize their service. Today, Benjamin and Todd discuss how they’re building recurring sponsorship revenue.
About the speaker

Benjamin Shapiro & Todd Hines

I Hear Everything

 - I Hear Everything

Benjamin Shapiro and Todd Hines, CEO and Head of Content Operations of I Hear Everything

Show Notes

  • 02:28
    I Hear Everythings sponsorship programs
    Initially, the sponsorship programs started $10,000 to $20,000 ad campaigns that were managed for over a quarter. over the course of one quarter. This year, they switched to a model where ads are dynamically inserted within their episodes.
  • 03:20
    The three tiers of sponsorship
    The three tiers of sponsorship are, awareness builder sponsorship, thought leadership sponsorship, and the top tier, demand generation sponsorship. Demand generation sponsorship provides the most value to clients as it includes attribution and conversion optimization.
  • 04:30
    Reasons for moving to a recurring sponsorship model
    It was becoming challenging to manage ad hoc sponsorships for each client. But, by standardizing the sponsorships, they could build repeatable processes and employ a consistent approach to sponsorships.
  • 07:56
    The main benefit of moving to a recurring sponsorship model
    By focusing on what they do well and standardizing the process, sponsorship became less time-consuming and replicable. Moreover, by becoming more standardized and automated, they became a technology company and raised the value of the business.
  • 10:06
    Sponsorship as a service and plans for the future
    I Hear Everything has plans to scale the sponsorship model and offer it as a third business line to clients. So, in 2023 and onwards, the plan is to offer the recurring revenue model to other podcasters who need help with podcast growth and monetization.

Quotes

  • "The awareness builder sponsorship locks in a quarterly speaking opportunity on the podcast, 20,000 to 30,000 audio ad impressions, and co-branding on our website." -Todd Hines, Content Operations Head, I Hear Everything

  • "The thought leadership sponsorship has a $3,000 fee for the quarter and includes everything in the first tier, but also guarantees 5,000 interview downloads." -Todd Hines, Content Operations Head, I Hear Everything

  • "What we've seen is, instead of people coming once for $10,000 to $20,000, we're starting to build a recurring revenue model where we're providing consistent, repeatable value to the sponsors." -Benjamin Shapiro, CEO, I Hear Everything

  • "You can't just market your brand everywhere and hit the same people all of the time. People need to understand what you're selling, who you are, and thats where the content comes into play." -Benjamin Shapiro, CEO, I Hear Everything

  • "A consulting business sells for maybe one and a half times revenue and a technology business sells for a five multiplier. So, we're trying to build our business to be more of a technology company." -Benjamin Shapiro, CEO, I Hear Everything

  • "In 2023, 2024, we're going to do more sponsorship as a service. And that I think is part of the future." -Benjamin Shapiro, CEO, I Hear Everything

About the speaker

Benjamin Shapiro & Todd Hines

I Hear Everything

 - I Hear Everything

Benjamin Shapiro and Todd Hines, CEO and Head of Content Operations of I Hear Everything

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