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Wednesday, December 11, 2019

6 ways to monetize a media outlet

6 ways to monetize a media outlet

 If you've been wondering how to monetize your site for a while, then you've come to the right place.

But before we begin, we would like to remember a factor without which no plan to monetize will work: the content of your medium should provide value to your readers.

6 ways to monetize a media outlet

With low quality content or that does not engage the audience, none of these strategies will work. So before launching into the battle of monetizing: improve your content to its full potential!

The challenge is to create a loyal reader base in the right niche

In short, making money will be possible only if we have created loyal readers in the right niche before.

With correct niche we refer to an initial study on the theme of your site: search volume, location of the same (always look at several locations), competition, competition traffic, keyword study, which words are more competitive and with which there is more CPC, etc ...

Having this clear point, we can summarize that there are two ways to monetize our online content:

1. Offering our own services, or our premium content
2. With advertising and affiliate income (sale and promotion of services and products manufactured by third parties)

We will then see in detail what options are in each of them and how you can adapt the points that we are going to list to your current context.

#one. Advertising

This is perhaps the option that everyone initially considers, as long as getting advertising revenue comes into our vision of the digital media we manage.

For this, you will need to manage the advertising through a so-called ads module that you must hire through the CMS or Content Manager that you are using.

From there, and if your audience does not yet generate a considerable number of page views, you can sign up for services such as Ad Sense and place the advertising banners they offer you by default and based on their algorithms.

Learn about the history of De Correspondent, a sustainable medium that works without advertising

If the number of page views of your site is already considerable you can count on a network of advertising partners. We refer for example to Delivery, Adroll, Ligatus ...

These, among other tasks, help you manage and optimize your campaigns, generate reports and respond to your queries about which advertisements suit you and which ones do not.

#two. Affiliate links

Linking affiliate links is an especially effective strategy when done correctly. Many e-commerce sites have affiliate programs, which offer recommendation rewards to boost sales through the site. Major retailers such as Amazon encourage affiliate linking.

In 2016, The New York Times bought Amazon's affiliate review site, The Wirecutter, for $ 30 million, which shows a growing media interest in this type of model.

Learn about the New York Times and Washington Post financing models

But without going to examples of such a high level as the New York Times, we can incorporate Affiliate Links into our digital medium on a smaller scale.

There are different ways to create similar content on our website, but basically it's about making reviews of commercial content in our newspaper but always keeping in mind what kind of recommendations interest our public niche the most.

The newspaper El Pais often does it with content very in line with its audience: recommendations for car seats, rankings of robot vacuum cleaners or humidifiers. They are all articles with a good SEO (clickbait headline, videos and many links to Amazon or El Corte Inglés, among others).

Any subject has providers that use the affiliation system. So look for the one that best suits your newspaper and, of course, your audience.

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