![]() ![]() Squarespace ad buyers were agnostic about audience size. Squarespace employees were the only group of people in the world who have ever thought there weren’t enough podcasts. According to the former employee, at one point, Squarespace discussed taking out ads that didn’t even talk about Squarespace and just promoted Podcast Awareness month, something they were going to make up. The podcast ad budget grew so large that the team of four young people couldn’t spend it all. Squarespace’s team purchasing ads on Facebook and Google would get grilled in meetings, because their return on what they spent on ads couldn’t compete with the team placing ads on podcasts and YouTube videos. According to a former Midroll employee, the company had an internal meeting because the executives were concerned that one account, Squarespace, accounted for a third of the revenue. The company was advertising on more than 400 podcasts a month. That year, FiveThirtyEight tracked the biggest podcast advertisers, and it found that Squarespace was taking out two-and-half as many ads as its nearest competitor,. “He couldn’t tell me but he said, ‘You have to do it.’ We said, ‘OK,’” Mr. Maron was interviewing that put the ad rate at $100,000. Ilyas Frenkel, Squarespace’s growth marketing manager at the time, received that call from Midroll Media, the company that sold Mr. Casalena’s commitment to podcast advertising was so singular even in 2015 that when President Barack Obama - years from being a podcaster himself - went on Marc Maron’s show, Squarespace was the only company approached about ads. “What other ad do we do that gets picked up in the media over like a hundred different sources and played for free?” It is very hard to argue with that point here. Casalena such a believer in advertising that in 2015, he decided to buy a 30-second Super Bowl ad that he figures cost him $10 million. Rogan also apologized for what he called “shameful” language.) Rogan promoted Covid-19 misinformation, and his past use of racial slurs drew new attention, Spotify’s chief executive sent his staff an email saying “there are no words I can say to adequately convey how deeply sorry I am.” (Mr. After several artists pulled their music from Spotify because they believed Mr. It has also, in recent days, apologized for him. In 2020 Spotify offered him a reported $100 million for his show. Rogan, who started podcasting the same year Squarespace started advertising. Other people later discovered the same about Mr. And, according to a former Squarespace employee, when that host was Joe Rogan, the return was almost unbelievable. When a podcast host ad-libbed their promotional copy - and particularly if they stressed that using the Squarespace promo code supported their show - the return on the ad spending was enormous. Everyone at Squarespace started hunting for podcasts to advertise on. “So we became pioneers in trying to find every emerging show host we could before they’re super popular,” Mr. A third of the company’s new subscribers had heard of its product from the ad on This Week in Tech. We hope you enjoy this post and encourage you to support our sponsors by participating in their promotions.To find out if that gamble on his first podcast ad on This Week in Tech worked, Squarespace built one of the earliest post-purchase surveys, the ones companies now pepper customers with. Which of these could you use to crank up your industry?Įditor’s note: In the interest of full disclosure, the post above was written as a part of a sponsored series courtesy of Asus and WePC. As technophiles of all ages continue to consume the newest gadgets, their insights are a key catalyst to innovation in this area.Ĭheck out the slideshow below for these and more crowdsourced business models. Sites like let users vote on ideas for computers that are actually implemented into the final product. The best area for crowdsourcing business models to take hold, however, is in technology. The ‘Honor Angus’ McDonald’s campaign demonstrates that even advertising can benefit from the wisdom of the crowds. From crowdsourced activism to consumer-powered charities, social awareness has certainly been kicked up a few notches courtesy of crowdsourcing. These crowdsourced business models prove that this phenomenon can work across several industries-not just ours. With a community of 30,000+ strong that adds our database of over 60,000 microtrends, we know how effective it can be to leverage the knowledge and expertise of the masses. At Trend Hunter, we’re no stranger to awesome crowdsourced business models. ![]()
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