“It’s time to monetise the site….”
What does it mean to actually monetise a website? When should you monetise a website? and How do you monetise a website so that it doesn’t p*./. off your audience?
You’ve launched your brand new product (website) into the market place you’ve got over 5,000 members and growing on a daily basis, you are almost as hot as Facebook, almost.
One of the major ways that a website generates revenue is via advertising, if you think about the big players out there, Twitter, Facebook and even Instagram, they all offer advertising platforms.
But adverts really aren’t cool, and here is why:
Let’s shrink this down a second, lets say you visit one of your favourite blogs and boom you are greeted by advert, after advert after advert.
Among all of those adverts, somewhere, is the very article that you are trying to read. They really make a website look cluttered and above all things can turn your users off.
You arrive on your local news website, and believe me, I’ve seen a lot of the big news companies out there doing this.
You click the article and oh look at that, a survey to fill out, and yes you’re going to need to fill it out if you want to read the rest of the article.
Question how many of you click the back button at this point?
Adverts that cut articles mid flow for me are just plain annoying, it’s not an effective way of getting e-mail addresses or answers to a survey and it certainly isn’t cool.
Let’s upscale a moment, 5,000 users sure sounds like a lot, but it isn’t.
Let’s put this into perspective Facebook has over 1bn active users, twitter 313 million active members.
Get the picture? 5,000 members is nothing, it’s pocket money to these guys and the last thing you really want to do is annoy your current user base by sticking adverts everywhere.
First and for most know your product, get to know what it is, where it is going, or what it will be. Putting adverts on the website will just ruin all of that, and all your hardwork will be for nothing.
Introduce adverts when you get a bit bigger, 100,000 might be a good number to go for.
There isn’t a science behind this, but you will know when is the right time to introduce advertising to the website.
Start off small, placing them in prominent places to be clicked on, but ensure they don’t interfere with the flow and the user experience of the website.
Allow your users to give feedback on the adverts, and perhaps at the beginning even offer the ability to turn off these adverts – of course ensure you monitor the ones that do so you can decide how many might leave your website or not use you as much.
Adverts are a vital part to generating revenue for a website, but they are not cool and they are certainly not the only method of generate revenue.
Introduce advertising on the website gradually and allow you users to give feedback and have control over the very adverts that are placed on the website, especially on their own assets i.e. profile pages.