Source: SoluteLabs
Many times publishers are told about monetizing their data in order to increase their revenue. But what actually happens is that the publishers are left confused about ways through which they can monetize their content. We would help you publishers to understand the workings of the monetization system and its connection with content and data.
Data is an integral part of the monetization process. Publishers need to accumulate and structure this data so that they can monetize their data through various ways. Today, data has become essential for publishers to give advertisers an idea of the audiences’ preferences, likes and dislikes so that advertisers can place their ads on the interested platforms that would love to see their ads.
How data can be collected?
Data can be collected from your user’s preferences, likes and online activities. There are many ways through which publishers can collect data and store it in the databases. For your data to be structured it needs to be connected to a common identifier:
Cookies: Every site asks its users to accept cookies as a means to collect data from the activities taken place from the users. It is applied to take data from websites.
Mobile IDs: If you have an app, data can be collected through IDs
Logins: Data also gets collected from IDs that users give as inputs(Fb, Instagram, Google) in the form of logins into an app or website.
What data can be monetized?
1. Behavioural Data: It tracks the pattern of users that come frequently to your site.It can be collected as ‘most clicked page’, ‘most visited section’, ‘interest or topic viewed recently’ etc.
2. Registered Data: Data that gets collected through personal credentials of the user entered through a registration form can be monetized to show relevant ads to the user.
3. Questionnaire and Survey: Data can be collected through open forms, surveys conducted on the sites or through digital mediums designed for the same.
4. Quizzes and Polls: In the wake of social media, conducting a quiz or poll is an effective way to gather information as it helps to understand the user's preferences.
Strategies that you must use to monetize your data
Using Your Own Data
Data Management Platforms(DMP)
It provides you to gather information about audience and structure it as per preferences, likes, dislikes, comments, topics, interests etc. Through DMP, it would be feasible to sell your audience database rather than site pages. By that, larger audiences would be able to get access to your site or app.
Monetization can be done by providing quality content to your readers. It is a great way to subscription-based publishers to target their audience by DMP and gather information on interests and topics of discussion among their audience. This will help them to create content as per the data which will fetch more impressions leading to marketing your product too!.
Paid subscriptions/ Digital Paywalls
Monetization can be done by providing quality content to your readers. It is a great way to subscription-based publishers to target their audience by DMP and gather information on interests and topics of discussion among their audience. This will help them to create content as per the data which will fetch more impressions leading to marketing your product too!.
Newsletter
Niche
Source:the-ken.com
Niche is a strategy that can be adapted by the publishers to attract a specific type of audience. Sending newsletter to an audience that has interest in your brand or similar topics. It helps to cater to an audience genuinely wanting to invest into your products.
2. Membership Funded
Social Media Ads (Twitter, Facebook, Instagram etc. to promote your products to their known people and audiences alike. Its a forum where every member pays to join the community. This forum is interested in your topic or product related discussions and hence their promotion tactics(sending newsletter) will be of greater use to you.
Social Media Ads (Twitter,Facebook,Instagram etc.
1.Increasing Ads-You can monetize your content by placing ads in between of your inputs. In visual format,ads can be placed naturally or manually by the publisher to earn revenue per view.
2. Fan Subscriptions-It is a great way to monetize your content as the most loyal and caring audience will fund your page through monthly or periodical subscription fees. I n return, you must give good discounts and exclusive offers to them. They are given a badge by the platform to identify them so that they can enjoy perks offered by the page.
3.Branding your content(Make it exclusive!)-Brands are willing to collaborate with influencers and fan pages by sponsorships or collaborating for a specific project. This is a type of content that publishers can monetize by offering it for a fee or only to its patrons.
4.Paid memberships-Group admins or publishers can provide access to certain content only if the member has subscribed to their page. This helps in creating a loyal base and raises revenue with every subscription fee.
2) Off-Beat Ideas
Online events listings
Publisher can join hands with job sites or employers and can provide their content along with it. For example, a publisher having content regarding new ways of conducting an audit can publish his blog with an ad for the same. This will get him good revenue if a person applies on the portal looking at his content.er as the advertiser is willing to pay higher if the partnership turns out to be great.
Job Classifieds
Publisher can join hands with job sites or employers and can provide their content along with it.For example, a publisher having content regarding new ways of conducting an audit can publish his blog with an ad for the same. This will get him good revenue if a person applies on the portal looking at his content.
E-commerce
Data is a crucial thing and it needs to be handled carefully. Especially, when it comes to selling your data to an advertiser structuring and maintaining a database makes it easy for the publisher to categorize it as per audience’s interests and provide them with the right ads. Publishers will also benefit monetarily as this helps to cater large audience increasing the impressions and generating good revenues. Remember, publishers need to understand how the data affects the entire monetization process. Follows these unique ways and earn good traffic and revenue for your site.
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