How to start monetization
To begin with, we should determine which way of monetization will be great for you. Let’s consider some tips.
Starting talking about site monetization, there is no matter your daily unique volume growing influence. Exist a plenty numbers of monetization tools, tactics and services choose from, and as is often the case, this abundance of options can scare publishers away. We had the opportunity to build our conclusions based on the report Publisher Roundtable, giving to understand how publishers are approaching monetization and in which areas they need support mostly.
Where to start monetization? The most frequently asked question, among the surveyed publishers. The reason lies in the fact of the speed of increasing ad- tech, it can be compared with flash, the development of advertising technologies and proposals of advertising options for webmasters. Sponsored add-in posts, affiliate program, in-text, in-display advertising, sounds for beginners as spells. This is just the tip of the iceberg.
Logical steps on the road to monetization done by many professional and semi-professional publishers. The creation of a whole department, whose responsibilities include the monetization of a resource, helps to solve the apparent first sight insurmountable problem, using division of it into digestible parts. 4 is the average number of ad networks which necessary for sites with the daily audience with more than 50 thousand unique readers, that is about one and a half times higher than request sites stats which shows around 10 thousand users per day or less. Now our conversation about website monetization, That is why such terms as sponsored, video and affiliate programs will be missed here. The time comes to gradually shift to the fundamental question of this article, and start to figure out what should new publishers do, to make their website monetization most effective?
Everyone has long known that mimicry and imitation is a good method of flattery. In the world of marketing and monetization, this technique is used quite often. In your niche and vertically there are competitors, let’s pick a few of them to indicators which you aspire to grow. Please be patient and analyze what advertising techniques do they use, do your notes about their advertising strategies. It is always visible and does not require special technical or specialized knowledge. We need answers to: do they use ads? If so, what areas are used? Be attentive to all sponsored posts and paid subscriptions to access and affiliate links.
Will share the secret that there are ready-made solutions. One of the most convenient in my opinion is Ghostery. This is a small plugin for web browser chrome that analyzes the content of the page on revealing tags, beacons, and a roll call of ad networks, behavioral data providers, Web publishers, and more.
Well, you’ve already done a huge amount of work, gathered up the sheet options for your website, but the clarity of where to begin has not yet appeared. Moving on. The next step is a creation of a table to compare collected you monetization tactics
Potential selection criteria may include:
- Input – What is the time investment?
- Control – How much control do you have? Can you control the look and feel, placement on your site, content, etc.? Can you run A/B tests?
- Reporting – How robust are reported? Do have to build them yourself or are they out-of-the-box? Can you calculate return on investment (ROI)?
- User Experience – Does it add to, subtract from, or have no effect on user experience?
- Cost – Is there an introductory, monthly, or licensing cost?
In this example, display ads are the most beneficial form of monetization. There is low input effort, moderate control over content, robust reporting capabilities, no initial cost, and high potential for revenue.
Revenue – How much money can you make?
To study the different strategies we will again have to conduct research. My opinion is without this thorough preparation, monetization of your site, in the end, could disappoint you. We are focused on results, and it is better to check everything carefully and prepare, then the website will carry the best profit.
All your achievements, I recommend to compare with the above table, it clearly will reflect the dynamics of your actions, in the end, you need to be in the upper right quadrant.
Moderate control over content, low input effort, robust reporting capabilities, high potential for revenue and no initial cost will mean that you gather the right quadrant, therefore mean was chosen a beneficial form of monetization.
Balance and alternate use of tools in the early stages of monetization will help to eliminate serious errors and to monitor how does each strategy separately, which will give the opportunity to combine them. It is not necessary to dive directly into the deep end, it is better to make tiny steps and you will not notice how the will achieve your goals.