Content monetization platforms are complex. Identifying the best one for your publication can be a challenge if you don’t know what you need. Even if you have a powerful vision of your requirements, execution can still be difficult. And if you have all the resources needed for implementation, you might not have a strategy.
There are some excellent ways to monetize your content and you as a digital publisher must know all the opportunities available to you for content monetization .
Whether you are adding a digital department to your publishing house or are already a digital publisher and are expanding now, this is the article you need. We have compiled six powerful strategies that smart publishers follow to monetize their content. From conventional to contemporary, check out what digital publishers have used successfully for content monetization .
6 Strategies Publishers Follow to Monetize Content
1. Provide content for free at first
An excellent way to attract an audience is to provide free content initially. Many digital publishers offer free content at first as a part of their strategy. Websites with content that is beneficial to their audience can climb the ladder quicker, so digital publishers include it in their strategy. Their focus is on building a base in a way that is organic.
To monetize content and sustain the publishing business, you cannot offer free content long term. Many publishers follow a transitional model where they provide free content initially and then transition to paid or semi-paid models. Either the site can include ads or become subscription-based (meaning, adding a paywall to the content). A lot of publishers even consider taking their website public and drawing investor funding.
2. The direct sale approach
Perhaps the most obvious manner for monetizing content is to take up a straightforward sales approach. Which would mean putting together an e-commerce platform that promotes patrons to purchase goods and services straight from your website. However, to many publishers this can be unappealing. You still have to look after the inventory, customer care, order management and delivery, and an endless list of problems.
A direct sales approach may or may not accommodate your business circumstances, but streaming video content platforms such as Netflix have yielded excellent results by offering direct subscription-based services. Though the approach is clever, there always is a probability of getting access to the same content for free elsewhere.
3. Content monetization platforms
While all the strategies mentioned in this article are on-page, there is an off-page monetization tool smart publishers opt for. Content monetization platforms are a gateway to revenue generation. They are on a rise and you as a digital publisher should be in line with what is happening in your industry.
Why should you consider content monetization platforms?
a) Saves time: Content monetization platforms can take your old content and turn them into valuable material for your audiences. It saves time on content creation and marketing as only a one-time effort is required.
b) Easy to launch: Content monetization platforms usually have a seamless interface. A few platforms like Retrieve have marketing experts onboard that help you with starting out.
c) Additional revenue stream: Digitalization has paved the way for more publishers to go digital and make revenue by adding fresh streams. If you wish to sustain for a long time, consider adding a couple of additional streams for your publication.
d) Building a community of readers: Social media is one way to build a community for your readers, but if you’re looking for a deeper connection, then content monetization platforms like Retrieve enable you to build a community and have live sessions, group sessions, and a one-on-one interaction via video, audio or text.
e) Free to join: These platforms are often free to join and usually have no hidden costs. They earn only when you earn!
**4. The “metered” paywall
You’ve heard of the term paywall(fossbytes.com/what-is-a-paywall) , but what is metered paywall? It is a manner in which you offer free access to online content for a limited period before asking your consumers to pay. In addition to offering exclusive content, publishers also add metered paywall techniques to monetize their content.
This technique has turned out to be successful, especially in digital news publishing. Publishers like The New Yorker, The Washington Post, Wall Street Journal, etc. have instituted a paywall across their website. For example, The New Yorker lets you access archives for free for five months, but to access current articles, consumers need to subscribe. This strategy resulted in a massive intensification of readerships and subscriptions even after five months.
5. Adding affiliate links
Affiliate links are practical and organic when done strategically. A lot of e-commerce sites, whether big or small, offer affiliate programs that any publisher or creator can sign up to. Referral rewards facilitate sales through the site without actually selling a product directly. E-commerce giants such as Amazon have their affiliate program, which publishers or creators can sign up to and start monetization via referral links.
The real strategy here lies in recommending beneficial products/services to the readers and driving them to the links so that they make a purchase. It essentially means offering value to your customers in the form of suggested products and services. Many product reviewers who use affiliate programs depend on search engines for traffic.
6. Native advertising
Another way publishers opt for monetization is by adding third-party ads rather than acquiring revenue from consumers. Please note that the ads can also be sponsored articles on your website. Google Adsense, Media.net, Propeller Ads, and so on are a few ad services popular amongst publishers. While you can run banner ads on your website, sponsored articles make up for organic monetization as well.
The internet has facilitated quicker delivery of content while demanding and reformulating conventional business models. All publishing houses have reformed their businesses and embraced the digital revolution. Publishers have identified the demand to adapt to new trends and explore various strategies for content monetization . While creating content and its delivery remains pricey, taking things digital has cut down the total cost for sure.
By working out strategies, consider going beyond the conventional means of content monetization . Check out Retrieve.com a content monetization platform for publishers like you. Start easy, publish easily, and earn easily with Retrieve!