The Best Revenue Diversification Strategies for Digital Publishers

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Contents:

  • Ad revenues have plummeted, putting pressure on publishers to diversify their revenue streams and come up with new and creative ways to monetize their business
  • The success of any strategy depends on the right measurements
  • Tracking what is effective
  • Analytics is the backbone of any meaningful strategy
  • Maximize your current revenue streams
  • Choose KPIs wisely when analysing your content performance after implementation of a new strategy; otherwise you may be making decisions that end up costing you money
  • The challenge with data is that while it can provide insights, it needs the intelligence of the human mind to translate those insights into actions that will create value for the publisher
  • A major challenge in optimizing content for monetization is determining which pieces of content actually bring in revenue
  • A crucial breakthrough for publishers was the advent of native advertising, which is clearly separate from editorial content, does not interfere with user experience, and is geared specifically toward audiences most likely to convert into customers
  • Publishers need solutions that integrate seamlessly with their existing tech stack, so they don't have to deal with multiple channels or even multiple systems within each channel
  • If you want your revenue diversification strategies to be successful, you need analytics that can tell you what's working and what isn't working so you can improve your strategy as you go along
  • Conclusion

Tracking what is effective, optimizing content monetization, and determining which pieces of content actually bring in revenue can be challenging. This is especially difficult today where Ad revenue is plummeting and the war for attention is increasing. In this article we will look at some startegies to boost publisher revenue.

Publishers solely relying on monetizing via ad revenue are having a more difficult time than ever seen before. Therefore, the need for publishers to diversify their revenue strategy has become more important than ever!

In this article, we will explore the concept of revenue diversification and give you some practical tips on how you can implement it in your own business.

Ad revenues have plummeted, putting pressure on publishers to diversify their revenue streams and come up with new and creative ways to monetize their business

As the digital publishing industry continues to grow and evolve, it’s become increasingly important for publishers to diversify their revenue streams. With ad revenues in decline and competition increasing many publishers are looking at different ways of making money with their content.

The success of any strategy depends on the right measurements

The first step is to know what the metrics to track are and how to measure those effectively. If you don't know what those are, it's important to find out before starting a new revenue diversification strategy.

In our experience many revenue diversification strategies often fail because they're not properly aligned with business goals or do not provide value for readers. For example, if your goal is to increase mobile traffic, you may decide that embedding an Amazon product carousel on your site could do this for you. But if this does not align with your brand or readers interests, then their engagement will suffer as it worsens the user experience and they'll go elsewhere—or close their browser altogether!

At Spiny we strongly recommend focusing on revenue analytics, such as eCPM’s and breaking these down by content type.

Tracking what is effective

Another important step in the process is tracking what's effective. Digital publishers need a way to measure success, and analytics is the backbone of any modern strategy. You should be tracking a variety of metrics—including traffic sources, engagement time per article and what content your audience engages with most—so that you can determine which channels are working best and focus on them in future campaigns.

For example, if you're using Facebook ads to drive more readership to your website or app (which many digital publishers do), then it's essential that you track data over time so that you know how much revenue each campaign generates for your business. It is also important to do this by category so you can assess which channels are providing the most ROI and where the majority of your growth is Originating.

Publishers can utilize content analytics tools to help to track these things. It helps digital publishers understand what content is most engaging and where their audience comes from—critical information for understanding their users' behavior patterns so they can make informed decisions about how to grow their revenue by diversifying into new revenue streams.

However, most content analytics tools fall short as they are limited to generalized metrics such as pageviews from tools adaptable to different business types. These tools miss the key metrics for digital publishers, revenue. More specifically RPMs, eCPMs and breaking these down by source. Live tracking is also notoriously difficult through most content analytics tools.

Spiny.ai bucks this trend. As Spiny focuses on providing digital publishers with the most relevant information, live. Spiny removes misleading metrics that other content analytics tools can’t, such as page views. This is a common problem as solely relying on PVs can provide false data without revenue. Readers may be clicking onto an article from a misleading ad or posting but not staying around, not providing revenue and just providing false data.

With Spiny you can make informed decisions about how to grow their revenue by diversifying into new revenue streams (e.g., live events).

Analytics is the backbone of any meaningful strategy

The first and most important part of any revenue diversification strategy is analytics . In fact, it’s the backbone of any meaningful strategy and should be considered before you choose your KPIs or content targets to optimize for.

Analyzing your existing revenue streams can tell you a lot about what works and what doesn’t, which will help inform future decisions about how to grow your business. It also helps you maximize current revenues by finding areas that generate high value but aren't being maximized enough (like subscriptions), or identifying underperforming parts of your business (such as display ads).

Maximize your current revenue streams

To maximize your existing revenue streams, you’ll need to focus on the most profitable ones and optimize them. The first step is to understand what data you currently have on the effectiveness of each of your advertising channels and how it impacts your bottom line. Once you know which channels are most successful, use AI and machine learning to optimize them further. For example, if one ad network performs better than another in terms of clicks or conversions per dollar spent but costs more money overall, it could be worth switching over to that network if there’s enough traffic coming through it for you to justify spending more money there (or vice versa). With all this in mind, let's look at some specific tactics that can help digital publishers maximize their existing revenue streams:

Choose KPIs wisely when analysing your content performance after implementation of a new strategy; otherwise you may be making decisions that end up costing you money

Choose KPIs wisely when analyzing your content performance after implementation of a new strategy; otherwise you may be making decisions that end up costing you money. The best approach is to use KPIs that are relevant to your business, easy to measure and avoid using general KPIs. For example, a publisher might want to increase the number of subscribers they have so they can generate more revenue from advertising on their site or in their app. So one way of measuring how successful this strategy was would be by looking at how many email addresses were sent out during the campaign period, or what percentage increase there was in subscriptions compared with previous months/years etc. If instead the publisher looked at total number of downloads across all apps within X amount of time (where X could represent any period), then it wouldn't tell us anything about whether our strategy worked because we're not comparing apples with apples here - we're comparing apples with oranges!

The challenge with data is that while it can provide insights, it needs the intelligence of the human mind to translate those insights into actions that will create value for the publisher

Data is like water; it's essential for life, but it can be dangerous if you have too much of it. In the case of digital publishers, data represents the fuel that powers their business. But what if you have so much information flowing through your organization that even your most capable employees are overwhelmed? The challenge with data is that while it can provide insights, it needs the intelligence of the human mind to translate those insights into actions that will create value for the publisher. Data scientists often lack experience in translating their findings into actionable outcomes and tactics—and this is where Spiny.ai comes in. We combine AI technology with great human expertise so our clients benefit from powerful insights without being overwhelmed by them.

A major challenge in optimizing content for monetization is determining which pieces of content actually bring in revenue

A major challenge in optimizing content for monetization is determining which pieces of content actually bring in revenue. This can be difficult, as it's hard to tell which pieces are working and which aren't. If you want to make the most of your digital publishing business, you need to figure out what works and what doesn't, then measure the performance of each piece so that you can tell what content is working well and what isn't. In this section, we'll dive into how digital publishers can measure their content performance.

A crucial breakthrough for publishers was the advent of native advertising, which is clearly separate from editorial content, does not interfere with user experience, and is geared specifically toward audiences most likely to convert into customers

Native advertising is quickly becoming the most popular form of online advertising. It's content that is clearly separate from editorial content, does not interfere with user experience and is geared specifically toward audiences most likely to convert into customers. For example, if a publisher’s readers are mostly interested in travel and fashion, then an advertiser who sells luxury travel clothing will buy ads on the publisher’s website that match these criteria. This way they know their ad dollars are being spent wisely because they are being directed at an audience that wants what they sell.

Publishers need solutions that integrate seamlessly with their existing tech stack, so they don't have to deal with multiple channels or even multiple systems within each channel

When you're looking for a revenue diversification solution, there are several things you need to consider. First, it's essential to integrate the product seamlessly into your current tech stack. If you're already using analytics software or ad management tools, make sure that these systems can talk to each other in real time so that you don't have to switch between multiple channels and systems when making changes. This will save you time and money by reducing errors and increasing efficiency across all areas of your business. Secondarily, look for products that are easy-to-use—you don't want something so complicated that it takes up too much of your time or energy when figuring out how everything works together.

If you want your revenue diversification strategies to be successful, you need analytics that can tell you what's working and what isn't working so you can improve your strategy as you go along

To ensure that your revenue diversification strategies are successful, it's important to have a tool like Spiny’s BidRoll that will help you identify the best KPIs to focus on and the content most effective at generating revenue. Spiny’s BidRoll is an ad revenue increasing tool that allows publishers to track what works and what doesn't in real time. It also provides solutions and recommendations based on current performance so publishers can focus on content creation.

Conclusion

Digital publishers need more than just an ad revenue stream that keeps them afloat. They need a strategy that will keep them competitive in today's market, and this means diversifying their revenue streams beyond just advertising.

If you want a free consultation with an industry expert about your revenue diversification strategy contact Spiny today .

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