Monetization is part art, part science and a lot of grueling work, but there are a few expert tips that can help eliminate missteps and get you to your goals a little faster and with a lot less stress.
1. Avoid Putting Your Eggs in Too Many Baskets
Diversification is important, but it’s possible to spread yourself too thin. Trying to be everywhere at once only leaves your ad power diluted and distribution channels weak to the point of anemia. One of the best pieces of advice you’ll ever get is KISS: Keep It Simple, Stupid. Before you get overwhelmed juggling an overly complex monetization network and lose your ROI in the confusion, focus on building a tried-and-true strategy proven to generate more revenue and produce better results.
What’s that tried-and-true strategy? You may be surprised …
2. Don’t Forget About Email
Yup, it’s email. Email has gotten a bad rap of late, mostly at the hands of trendy marketers who prefer to push their new app or the latest, greatest social media marketing platform. Fact is, email remains one of the direct, compelling and practical ways to reach your intended audience and get the feedback — and results — you’re after.
- In terms of how B2B audiences get their information, email comes in third behind industry thought leaders and colleague recommendations.
- Customers really do make purchases because of email offers, and they spend a whopping 138 percent more than people who don’t receive the offers at all.
- Four out of five retail professionals say email marketing is their most valuable way to drive customer retention — almost twice as effective as social media.
- When identifying their preferred means of business communication, 73 percent of millennials chose email (proving that the channel is far from dead).
There are many benefits to email monetization, not the least of which is that subscriber data portrays a deeper, more accurate picture compared to search data and device-based targeting. Rather than chasing after more insights, concentrate on getting the right ones.
3. Speak to the People Who Already Have Their Hands Raised
Publishers often spend tens or even hundreds of thousands of dollars trying to attract new audience members when they have an audience that has already opted in. When people subscribe to your email list, they’re asking to be involved. They’ve already indicated their interest, given you access to their inbox and taken action (even if that action just involved filling out a form and pressing submit).
Revenue from email ads can generate in excess of 20 percent of some publishers’ total ad revenue. That’s huge. Success like that is likely due to a combination of factors: a demographic that’s warm and receptive, messaging that’s deftly targeted to the right people via the right channel and a good mix of native ads, exclusive sponsored emails and sponsored content. Your subscribers already trust you. Stop ignoring the win
4. Use the Same Ads in Email as You Do on Your Website
Through your ad server, you can also use the same ads on your website in email. This allows for consistent messaging across all platforms.
5. Incorporate Native Ads
Now that you know how powerful subscriber insights can be, use that data to fuel your other, non-email monetization strategies. Native ads are basically paid content pieces that look like editorial work but function as promotional material. You’ve probably seen them in magazines, but they’re also prevalent online and they work. Because native ads are known for relevancy, they garner view rates 53 percent higher than regular display ads, and incorporating email-based targeting delivers personalization with laser-like precision. Add in rich media and conversion rates climb as high as 60 percent.
6. Automate, Automate, Automate
Even if you like to have your fingers in all your entrepreneurial pies, managing multiple campaigns across multiple channels is exhausting. It’s also inefficient. Whether you’re a one-person operation just getting ready to launch or a huge publisher with a sprawling network already in place, there’s room to improve, and that improvement should include automation.
Choosing a monetization platform with plug-and-play capabilities allows for intuitive upgrades based on subscriber behavior, timely content delivery and seamless growth, all without the need to constantly monitor operations. You won’t even have to fiddle with code or pick your ad spots. Learn to consolidate and trust software built for the specific purpose of monetization and you’ll love the outcome.
7. Hire an Expert
You already have a job, and chances are it comes with a slew of responsibilities that stretch your time and resources to the limit. Why are you trying to add monetization to your laundry list of duties? Partnering with an ally allows you to delegate monetization work to someone who specializes in the niche. You’ll be able to exhale and get one big thing off your overflowing plate while knowing your business is in excellent hands. Meanwhile, you’ll experience a massively bigger ROI than if you had tackled the project yourself — that learning curve is no joke — and you can concentrate your efforts on the tasks you do best, like creating content and interacting with your audience.
This doesn’t mean you’re giving up control, though. The right partner will be able to work without constant supervision but remain open to collaboration and periodic oversight. Let them work their magic, but don’t feel bad about checking in from time to time.
To find out how PowerInbox can help your business build a web, email and push monetization strategy using one comprehensive, set-it-and-forget-it platform, check out how it all works or reach out to our sales team to schedule a demo.