Ever wondered how you can connect with new people at a networking event without making it awkward? Lean into it.
I will provide more context to emphasize the result.
I recently attended IAB Podcast Upfronts here in New York City. As I was wandering around pretending I had somewhere to go, I noticed two guys who seemed friendly enough to approach. Next, I used my favorite approach for new people at events like this.
I walked over and said “I'm just going to awkwardly insert myself into this conversation.” Fortunately, they were very open and that's how I met Gary Coichy.
With two decades of experience on both the agency and brand side, Gary decided to create Pod Digital Media (PDM), a leading podcast agency that distinguishes itself as the first Multicultural Podcast agency network, offering advertisers access to the diverse multicultural audience segment within the podcast ecosystem.
I caught up with Gary after the event to learn more about how he built PDM, his predictions for the future of the podcast industry, and insights he could share with other entrepreneurs.
leadership
During our conversation, Gary highlighted the pioneering role PDM played in recognizing and monetizing podcasts from underrepresented groups such as African Americans, Hispanics, and the LGBTQ community.
Early on he discovered that partnering with overlooked audiences could position his company as an industry leader and create new opportunities for growth and impact.
Historically, if you don't have a large audience, it's challenging if not impossible to get brand deals. But Gary realized the power of creating a centralized network of podcast hosts, combining their reach and then selling packages to advertisers that include placement on several different podcasts.
This turned out to be beneficial for brands as it increased their host reach network. For example, instead of only getting 1,000 ad impressions on one podcast, they could get 20,000 ad impressions on twenty separate podcasts without negotiating a few deals.
As Gary shared “We were the first company in 2017 to essentially identify the value of partnering with a color podcast group. At the time there wasn't a centralized location for advertisers to tap into their audience, so this was an unlock big. “
His leadership strategy involved seeing potential where larger networks saw limitations due to scale and financial viability. And Gary's first big break came from landing HBO as a client in 2019.
Today, PDM's network consists of top-ranked podcasts including The Kenny Burns Show, Behind the mask, Black Girl Texting AND Social proof.
Main takeaway:
Like Gary, you should consider pioneering untapped markets where you can lead and define the terms of engagement.
Connected: Want to improve your productivity? These 7 types of music will help you focus
INNOVATION
PDM continued to grow, but Gary knew it was important to proactively evolve. He shared a thought that came to mind that sparked their next phase.
“What other ways can you diversify your offering to ensure that your advertisers can get more than just an ad read or do a 30-second ad an ad placement on a podcast to still reach that audience authentically? “
As a result PDM House was launched live podcast activation to engage audiences live during major cultural events.
Gary gives more details. “We take podcasters on the road around major cultural moments like Art Basel, the Super Bowl and Fashion Week; all while having a fully immersive brand experience that leads to meaningful conversations.”
Main takeaway:
Creators and brands must constantly look for new ways to deliver content and engage with their audience so they can turn standard interactions into unique and memorable experiences.
prediction
Gary foresees the continued evolution and influence of big names entering the podcast space, which will only increase its popularity and reach. You can also expect to see more brands host podcasts that share content adjacent to their core offering.
For example, Yelp has a podcast called After the Review featuring conversations with reviewers and business owners about their experiences – whether they're one-star or five-star – giving listeners behind-the-scenes information on what was really going on.
When asked about the impact AI will have on the podcast industry, Gary offered some good news in common for anyone worried about leaving: “I don't necessarily see AI taking over completely within the next couple of years . However, I see playing a bigger role, in terms of A/B testing, and different ads that can be resonating, not resonating as driving revenue.”
Main takeaway:
Staying ahead of these trends allows for strategic adjustments that can keep your company competitive and relevant.