In this episode of The Podcast Trapper, I discuss the difference between partnerships and sponsorships.

In the podcasting world, I feel that there is a lot of emphasis on getting sponsors - and not enough attention is given to the importance of partnerships.

Both are important and have their time and place.

In today’s episode, I’m going to share my own personal experiences with both and why you should build more partnerships, especially as you launch and grow your podcast!

Why you should build more partnerships

While sponsorships are transactional and involve exchanging money for metrics and reach, partnerships are mutually advantageous and can involve exchanging resources, networks, and advocacy.

The thing is, you need those things to successfully grow your show and build community.

As independent creatives, it's easy to focus solely on sponsorships for financial gain, but partnerships can be just as important for building relationships and expanding reach. You need your name to be mentioned in rooms full of people with influence. That kind of support can rarely be bought; It is earned through networking and partnerships.

I get it. When you’re new, you need cash flow. But don’t sleep on the value of partnerships as a creator and entrepreneur.

Partnerships have contributed to my success, big time. Instead of immediately focusing on getting sponsors, I got out there and networked. I attended meetings, workshops, mixers and conferences. Conferences were like fuel for my business, in fact. Meeting people authentically and making real-life connections was incredible because I had people to ask for advice and because we had so much in common, partnerships felt natural and genuine.

In a great partnership, your arrangement is mutually beneficial. Everyone wins! Instead of trading XYZ dollars for XYZ deliverables like a sponsorship - which is very transactional and usually not long-term - a partnership is about making an agreement where both parties get what they want.

A good podcasting partner is somebody who believes in your mission and loves your content. They are enthusiastic about what you’re putting out in the world. And vice versa - you like them, you believe in what they do and support how they do it.

For example, perhaps you make a deal to feature one another in your respective newsletters, since your niche is similar. Or, maybe you agree that you will mention their podcast on your show, if they suggest your show on theirs!

Partnerships are powerful. No one supports you quite like someone who truly believes in what you’re doing! A message to their listeners from someone who just loves your show is distinctly more effective than someone who was simply paid to mention it. Think about it - as a listener, can’t you feel the difference?

When you should focus on sponsorships

All of that said, there is a time and place for sponsorships!

In my personal opinion, I believe that you should seek out sponsors once your business and your show is established. For example, this is where I’m currently spending my time! I put in the work to network and partner with other podcasters and companies who support my vision. Now, it’s time to get some major cash flow to take my multiple brands to the next level.

Sponsorships are a great way to bring in money and build your brand. It’s also a great way to utilize the influencer effect - the idea that once you take the time to build trust and rapport with your audience, they want your recommendations on what products and services to buy.

As with partnerships, make sure you authentically believe in what your sponsors do, and that they will be well received by your audience. Doing your due diligence will build continued trust among your audience of creative professionals!

Choose the right sponsors and your audience will be happy, you’ll be able to make a significant income and your sponsors will get what they want.

I hope this helped elucidate the difference between partnerships and sponsorships. Both are amazing and both are important - but it’s essential to use them strategically!

That’s all for today’s episode.

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