There are more than 440 million blogs in the world, and the number keeps on increasing as I am typing. Not to mention the ever-growing number of videos, podcasts and other content that’s available for the daily internet user. If you publish your content online, you must have wondered about the monetization of your website. That is – how to make money with the content you create?
In this article, we’ll reveal you four signs that your website has reached revenue potential, and give you ideas on how to act on it.
The best part? Most of these signs of revenue potential you can track on any analytics tool you use. We will use Google Analytics as an example.
1. It has Large and Consistent Traffic
Monthly traffic is probably the easiest metric to evaluate to understand your website’s profitability, and you can do it by taking a look at your Google Analytics.
What’s important for monetization perspective, is that the traffic is constant and in the best case – growing. If that’s your case…
Monetize your traffic: sell ad space.
By looking at sessions you can see the general overview of your site’s traffic. But if monetization is your goal, then you should pay attention to pageviews.
- It makes a significant difference when selling your ad space with CPM model.
It is quite simple – more pageviews = more banners (more ad impressions) = more ad revenue.
There are two ways to monetize large and consistent traffic:
Selling your ad space directly involves negotiations and agreement between two parties. For example, you can approach some company or brand, and offer them to place ads on your website. This can be a time-consuming process, but valuable if your website is in a very specific niche that advertisers are interested in.
By selling your ads programmatically you save time as the whole process is automated. That is, programmatic advertising takes your digital ad inventory and matches it with buyers willing to pay for your ad placement, doing the selling for you automatically.
How to sell your ad space ‘programmatically”?
This is where some difficult terminology comes in, so hold tight:
In order to start selling your ads programmatically, you have to register your website on one of SSPs (Supply Side Platforms).
What is an SSP?
SSP stands for a supply-side platform. It’s an advertising technology platform used by websites to manage, sell and optimize available ad inventory. By using an SSP, you can show display, video and native ads to your visitors. If you want to learn more about SSPs, Digiday offers a great, detailed explanation.
Pro tip: When things start to take off with one SSP implementation, there are different technological solutions that can help you further optimize the ‘ad selling process’ and increase your ad revenue. Read more about header-bidding and waterfall technology here.
2. It has a low Bounce Rate and a Long Session Duration
Bounce rate measures the percentage of page visitors who visit your page and do not complete any actions (click the menu button or any other button for that matter).
Session duration, on the other hand, tracks the total length of a users’ visit on your page. This gives you an insight into how well your content is actually performing.
Now, if your website’s bounce rate is low and time spent on page is long, it’s a sign that people are interested in your content and actively consume it. Overall, the longer users stay on your page and interact with your content the better.
Think about it: If people spend on average 5 minutes on your website, they must be reading every word you’ve written. That means, you have their attention, and you can use it for monetization purposes.
Monetize low bounce rate and a long time on page: use affiliate marketing
Affiliate marketing is one of the most popular ways to make money from your site. How does it work? You earn a commission by promoting other peoples’ or companies’ products/services on your website. That is, you add a link to the product in your content, and if someone clicks on that links and makes a purchase, you receive a percentage of the deal, often around 10%.
If your website is targeted to a specific niche, you can easily find products that would be suitable for your site. There are numerous affiliate networks you can use to make money from promoting products and services, but the most popular ones are:
- Amazon Associates
- eBay Partners
- Shopify Affiliate Programm
3. It has Traffic from Diverse Geolocations
For monetization purposes, traffic from multiple geolocations is also one of the most valuable metrics that can help you calculate the approximate ad revenue.
Let me explain: The percentage of country distribution is important because, in programmatic advertising, traffic is divided into three categories: Tier 1, Tier 2, and Tier 3.
From your – the website owner – perspective, Traffic from Tier 1 countries will always be more valuable than from Tier 2 or Tier 3 countries. That’s because advertisers are willing to pay more money to show their ads to users from Tier 1 countries, so it gives you the chance to earn more.
Monetize traffic from diverse geo locations: sell ads
When you have figured the geo-locations of your traffic, move forward and analyze what ad placements are the most popular in these countries. You need to do it because not all countries use the same banner sizes.
When you have determined the core countries your traffic comes from, you can use this information to choose the right ad placements (banner sizes) to add to your page. Remember that some countries have specific ad banner sizes that will perform slightly better than others.
Why is this important?
The use of the right ad banner sizes will make your ad inventory available to more buyers, which means – more ad revenue for you.
To make things easier for you, Setupad has created a Regional Ad Size guide, where you can find what banner sizes are the most popular in the country of your interest.
4. It has Returning Traffic
Returning visitors are users that have had good initial experience with your page and have decided to come back to your page for more. Or, put simply, lots of returning traffic means that people love your content.
Monetize returning traffic: sell subscriptions, e-books or paid exclusive content.
If people really love your content, they might as well be willing to pay for it. There are different ways you can make money by creating valuable content.
To name a few:
- Sell subscriptions
The idea behind this model is to sell a product or a service for a monthly or a yearly fee.
- E-books, e-courses or other valuable materials
This is quite tricky as you have to remember that there is this massive amount of free information available on millions of other blogs on the Internet. But if you have the knowledge that others don’t, then don’t hesitate to monetize it by selling it online.
This method commonly used among print newspapers that have digitalized and share their content online. There are different types of paywalls, but what it basically does is it restricts the user of accessing the content without paying.
AND THERE YOU HAVE IT!
These metrics will not only help you determine if your website is ready for monetization but also help you understand if you are producing the right and best quality content. Use these metrics as a guide to see what you should improve in order to maximize the revenue you make from your webpage.