One way to strategically monetize your website is by deliberately seeking out brick and mortar companies and canvassing them to buy up ad spaces on your platform. This can become a successful venture and help cut the time of waiting on your website to meet the always-changing standards of online ad placement companies.
You will have to make sure you make a success of this strategy from the word go. The tips below can help you to do just that.
Make Sure Your Site Meets The Standard
If you are going for brick and mortar companies, you should have a website that would meet there standards. It will be a combination of visual appeal, content, target audience, engagement, traffic and cost of ad space.
Since this could be a great way of monetizing your website, I will not want to rush through some of the things I have just mentioned.
Visual Appeal
Your platform can have any kind of design but it is important that you design it with the kind of advertisers you want to attract in mind. Of course the design would lean heavily on the content and target audience but the combination of the two we just mentioned will give you a clear idea of the type of businesses you should target. This means such businesses are more likely to accept the aesthetics of the website than others would.
For instance, a website that deals focuses on finance and particular money instruments or stock trading should naturally have a design that will appeal to that segment of the industry. Most will say that your website should have a modern but conservative feel about it. It might work against you if your website looks like it has been designed for high school students even when it is still talking about finance and stock trading in particular. The design should appeal to the target audience, which will in turn attract the “right” kind of advertisers.
Word Of Caution
We are focusing on the brick and mortar company you should target for the adverts in question. This is different from companies and individuals coming to you to ask to buy advert space. Anyone can do so and this includes the most conservative of financial houses even if your website looks as if it has been designed with toddlers in mind.
Another thing here is that it is the proposal you take along with you that might make your website more appealing even if the visual side does not seem to go along with the theme. That is, you might go into the most conservative looking of such establishment and sell a proposal tied around an article series you want to start, a series that will have a dedicated section. Part of your pitch will include how it would benefit the company in question, may be because of the target audience. For instance, if your finance front slash stock trading website that looks like it has been designed for toddlers in mind will soon have a series of incisive articles targeted at mothers on how to buy stocks in the name of their toddlers, setting up trust funds for them and using the services of expert financial houses, the company in question might decide to buy up all the ad space available and ask if you will be willing to sell the website.
Content
This monetization strategy will work best if you go after brick and mortar companies that will have vested interests in the content of your platform. The more appealing your content to them, the easier it will be to get them onboard.
Target Audience
The content of your website is meant to attract your target audience. The companies you should go knocking on their doors are those that would love to advertise to your target audience. It takes it less cumbersome on your part to convince them to buy ad spaces on your website. Target audience is specific in nature and you do not have to have millions of people visiting your platform for these businesses to see the potential of advertising on your platform.
This is more the case if you are dealing with a niche that they consider to be of high value. This might compel them to start patronizing you immediately because to want to have a sort of secure space through which they can use to grow with you.
Engagement
The level of engagement could be an indicator of what you should be charging for ad spaces. However, it might best serve your purpose if you package the area of what you will be charging for ad spaces in a way that it makes it look like a promo. That is, since you are the one going to them to advertise, you should offer them spaces at discount rates. You can present multiple options for them to pick from and all at “discount” rates. The discount will not apply in the next cycle.
Engagement has to do with how visitors interact with your site and with each other on your platform. High engagement means they will be spending more time on the site. This normally adds to the value of your platform to advertisers and should reflect on the rates.
Traffic
Traffic to your platform can play a key role in how these companies will regard you. High traffic to your website increases the willingness to do business with you.
Cost Of Ad Space
We have already mentioned this when talking about engagement. The cost of your ad space may have a big influence with those that will eventually decide to accept your invitation to advertise on your platform. it is therefore important that you have a package that they can find something they can accept.
Look to improve every aspect of your platform so that it meets to the standards that will give you the confidence to approach these brick and mortar companies.
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