The Four Best Alternative Revenue Streams for Media Sites:
1- Sell your Advertising Space
This article is a part of our series on alternative revenue streams for media platforms. Keep an eye out for our white paper: The Four Key Alternative Revenue Streams for Media Sites that provides a detailed analysis of all four different ways to monetize your platform.
Sell your Advertising Space Creatively to Generate Passive Income
One of the most traditional and well-known ways to bring in recurring income to any content platform is advertising. It’s all about matching the available space on your platform with brands seeking to connect with your audience – and there are many different ways to do this.
First is outbound marketing – or what we commonly refer to simply as “classical advertising”. These are graphic ads on media platforms such as display and rich media banners, home-page take-overs as well as mobile, video and podcast ads.
These tend to work best for digital newspapers and magazines. However, this remains an effective source of passive revenue for all sorts of platforms with high traffic volumes – as the more visitors your platform attracts, the more brands will be willing to spend to advertise on it.
However, the online monetary playing field is changing rapidly. With click-through rates at an all time low, content platforms need to look at alternative ways to generate income such as the second and more modern from of advertising: inbound marketing.
Inbound marketing is about creating targeted quality content on a media site that pulls people toward the advertising company or brand. It tends to work best for digital magazines, media sites and blogs, where by aligning the paid content you publish with your customer’s interests, you attract inbound traffic that you can then convert, close and delight over time.
You can do this through sponsored marketing, which uses articles or other forms of content on your platform to educate audiences on the brand.
Then there’s native marketing which is quite similar but much more discrete and seamlessly integrates a brand into a media site’s own content, taking the shape and form of the platform on which they are published. On podcasts, for example, native ads become part of the show.
As a whole, digital advertising has taken a hit in recent years with the public being given the ability to filter what content they see from advertisers. But this by no means implies that advertising is dead or that it doesn’t generate income.
In fact, more and more advertising budgets are focused on online each year. The key to generating passive income via advertising is finding the format, brands and pricing schemes that work best for your platform, content and your audience.
If you’re interested in learning all the details about each alternate revenue streams and finding out which is the right one for your media platform, stay tuned for our soon to be published white paper that delves deeper into the subject.