Author: Francesca Morpurgo
The number of people using the Internet is growing year after year at an incredible rate and has now reached almost 4.5 billions. The coronavirus outbreak has caused in the 2020 a decrease in the ad spend of almost 30% but saw a parallel increase of 6% in the digital compart. If you add another data, namely that more than 55% of the total Ad Spend is spent on the online sector, this gives you a fairly clear idea of the opportunities that online advertising represent for your business and for your site.
Hence, it becomes vital understanding how to seize these opportunities, diving deep into the best and most remunerative practices of website monetization.
Not surprisingly, digital advertising is a rich but extremely competitive sector, in which making money is not easy at all, especially with traditional display ads.
Website monetization: the basics
In fact, according to Semrush, publishers are missing almost 79% of their monetization potential. This happens for various reasons but the good news is that it leaves a huge margin for increase at the condition that you adopt some essential, basic strategies.
- Work on the user experience of your site: at the core of every monetization strategy there is the CTR. If users do not click on your ads it is highly difficult that you are going to reach good rates for your ad spaces. So you have to make your site a better place for users and take care also that the ads are not exceedingly obtrusive or annoying, because that would penalize you monetization opportunities.
- Also, you should work on SEO optimization and on having good quality contents, because that delivers to your site organic traffic, namely users that if you have well performed on point 1 will be more propense on clicking on your ads.
- Then in choosing the advertisers for your site you should identify a niche that is a good compromise between high payouts and popularity so as to maximize your CPC. This result can be achieved doing a lot of research on trends and on interesting market niches and also focusing on more promising local markets areas. You should put any effort in understanding the area you have chosen, also for example identifying the more interesting advertisers and studying where they choose to invest.
Choose with attention also the AdNetwork that you are going to use, because it will be an essential factor.
- Then, stick on data: knowing your users is of the utter importance nowadays, especially after the ban of third party cookies. If you’re a blogger or a publisher you have the unique advantage of harvesting first party data from your users, and you should absolutely avoid missing this competitive advantage.
Know your users and leverage the power of data
There is an always growing demand from advertisers of a high targetization of users: they want to be sure to reach exactly the niche users they are looking for. So as a publisher you should invest time and resources in deeply knowing your users. This can be done by convincing the user to give you some of her personal data in exchange for something (so you can implement registration walls to give access to your contents, offer registration in exchange for exclusive contents like ebooks or newsletters or notifications about the latest news and fresh contents, etc). Then you should segment your users and use the insight you gained to sell your ad spaces at better prices. In this a solution like DataLit.ai can really make the difference: working with sophisticated machine learning algorithms DataLit.AI can hyper profile your audience, identify interests at a granular level and predict users behaviour. This will allow you to step in the world of programmatic advertising (your ad spaces are sold into a virtual auction where bidders and sellers automatically match) that is one of the hypes of today’s digital advertising.
Experiment with native ads
Another interesting possibility is trying with the so-called “native ads”. Native ads are ad formats that perfectly integrate with the layout, the style, the tone of voice of your site. So they are less annoying for the user and for this reason usually they generate a higher CTR rate than normal display ads. For this reason native ads are particularly appreciated by advertisers and even in times of contraction of ad spend they suffer much less of the reduction of the investments. You can also use native ads in combination with header bidding, for an optimal performance.
These are really interesting times for both publishers and advertisers: the markets are evolving quickly and so are the solutions at hand, and website monetization with ads is challenging but not impossible. As a publisher to monetize your website with ads you should continue studying and keep yourself up to date with the latest developments, not only in marketing but also in technology, which is becoming more and more relevant in the advertising landscape.