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Have you ever wondered how to meet new people at a networking event without it being awkward? Give it a try.
I will provide more context to highlight the result.
I recently attended IAB Podcast Upfronts here in New York City. While I was walking around pretending I had somewhere to go, I noticed two guys who looked friendly enough to talk to. Then I used my usual approach method for new people at events like this.
I walked over and said, “I'm just awkwardly butting into this conversation.” Fortunately, they were very receptive and that's how I met Gary Coichy.
With twenty years of experience on both the agency and brand side, Gary decided to launch Pod Digital Media (PDM), a leading podcast agency that stands out as the first multicultural podcast agency network, providing advertisers with access to the diverse multicultural audience segment within the podcast ecosystem.
I connected with Gary after the event to learn more about how he built PDM, his predictions for the future of the podcast industry, and what insights he can share with other entrepreneurs.
guide
During our chat, Gary highlighted PDM’s leadership in recognizing and monetizing podcasts from underrepresented groups such as African Americans, Hispanics, and the LGBTQ community.
He realized early on that partnering with overlooked audiences could position his company as an industry leader and create new opportunities for growth and impact.
Unless you have a large audience, it's difficult, if not impossible, to get brand deals. But Gary realized the power of building a central network of podcast hosts, pooling their reach, and then selling packages to advertisers that include placement on several different podcasts.
This proved beneficial for brands as it increased the reach of their host network. For example, instead of only getting 1,000 ad impressions on one podcast, they could get 20,000 ad impressions on twenty different podcasts without having to negotiate multiple contracts.
Gary said, “We were the first company to recognize the value of partnering with a podcast host of color in 2017. Back then, there was no central place for advertisers to reach their audience, so this was a huge breakthrough.”
His leadership strategy was to see potential where larger networks were limited by size and financial viability. And Gary's first big break came when he signed HBO as a client in 2019.
Today, PDM's network consists of top-tier podcasts, including The Kenny Burns Show, Behind The Mask, Black Girl Texting, and Social Proof.
Most important finding:
Like Gary, you should consider becoming a pioneer in untapped markets where you can take the lead and dictate the terms of engagement.
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innovation
PDM continued to grow, but Gary knew it was important to be proactive in evolving. He shared a thought that came to his mind that sparked their next phase.
“What other ways can you diversify your offering to ensure your advertisers get more than just an ad read or a 30-second ad in a podcast to still authentically reach that audience?”
Therefore, PDM House was launched as a live podcast activation to directly engage audiences at major cultural events.
Gary shares more details. “We take podcasters on tour to major cultural events like Art Basel, the Super Bowl and Fashion Week, giving them a holistic brand experience and engaging in meaningful conversations.”
Most important finding:
Developers and brands should constantly look for new ways to deliver content and engage with their audiences so they can turn standard interactions into unique, memorable experiences.
Predictions
Gary foresees the continued evolution and influence of big names in the podcast space, which will only increase its popularity and reach. You can also expect to see more brands hosting podcasts that share content alongside their core offerings.
Yelp, for example, offers a podcast called “Behind the Review” where reviewers and business owners talk about their experiences (whether it was one star or five stars), giving listeners a behind-the-scenes look at what really went on.
When asked what impact AI will have on the podcast industry, Gary had good news for anyone who fears being displaced: “I don't necessarily think AI will completely take over in the next two years. But I do think AI will play a bigger role in terms of A/B testing and different ads that work and resonate, but not just drive revenue.”
Most important finding:
By staying one step ahead of these trends, you can make strategic adjustments that ensure the competitiveness and relevance of your company.
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
