The first job for any content publisher is to publish content that resonates with an audience who keeps coming back. Once your audience has grown to a sufficient point, it may be time to look into online advertising as a monetization strategy. How do you know you’re ready to monetize? How much traffic is enough to be a full time web publisher?
This blog provides some quick stats and tips so you can gauge where you currently fit, and think about where you want to go. Here are some things to consider to ensure that you are setting yourself up to have the best chance at monetizing your content.
Building a Base
Before you can begin thinking about the steps of content monetization, it is important to make sure that you have developed a quality product. Are you publishing good content that provides value to your readers? Does your site provide consistency and stability?
In order to produce content that will entice readers to keep coming back, creativity is key. While it is important to establish an online presence and identity, there is value in thinking outside of the box. Produce content that encompasses fresh and new perspectives and publish often! You don’t want to leave your audience hanging on for more information. In addition, take the time to celebrate other creatives. Don’t be scared to share links and other sites. This will build authenticity into your work, establishing a foundation of trust between you and your audience.
Now think about the user experience. As you’re building your website, take into consideration the stability of your site. You want to make sure that it will be able to sustain the load times necessary to maintain positive user experience that is not slowed down by advertisements. It is also important to recognize the impact that these advertisements will have on your audience. Will they be dedicated enough to overlook any irritation or offense that the advertisements may cause? Will the types of ads that are hosted contribute to or take away from your publication’s reputation? Have you taken the precaution necessary to account for these possibilities?
When is Your Site Ready to Test Ads
After considering the foundational elements, you can start working on elevating your traffic level. Start by taking a look at your website. Where can you accommodate space for an ad that would be implemented? To save yourself time in the future, it may be smart to format the design elements of the page to prepare yourself for advertisement placements. Take note of the flow of your message content and where it would make sense to create space for advertising.
Begin analyzing the advertisement efficiency of your website. Start by testing calls to action on your own site, and see how many clicks you can get from your audience. A good rule of thumb is to build 10,000 to 20,000 visitors a month before trying to monetize. Play with the placement of your content. This is your opportunity to understand how you can tweak your calls to action by location, design, or wording to elevate your audience’s receptiveness and gain a better understanding of whether the traffic on your site can support a monetization effort.
Making a Living With Your Blog or Content Site
Once you have optimized your website, you are ready to look into an ad network. Keep in mind that every ad network is different. While lower level networks may allow almost anyone to host their ads, stronger advertising networks will focus on promoting the user experience, meaning that they look for a standard of quality in their content publisher selections, consistent and stable site functionality, and a large quantity of audience viewership.
Chances are, stronger ad networks will offer a higher CPM, or Cost Per Thousand. A CPM denotes the pricing that will be allotted for web ads per thousand impressions. This highlights an essential factor to understanding how ready your site is for monetization. Have you “maximized” your earning capacity? CPMs may not be very high depending on the size of the ad network, or the rate of your traffic. As a result, collaborating with a lower-tiered advertising network, while managing a website with less viewers may not be very profitable. This means that you need to choose your network carefully. Also, make sure you have enough viewers to secure sustainability for the specific network that you have in mind.
Are You Ready to Explore an Online Advertising Network?
Now that you have considered all these critical notes for website monetization, it is time to make your decision. Are you ready to explore an ad network, or are there more changes to be made before your site is ready?