What is monetization?
If you are in the digital marketing industry, chances are that you’ve heard the word monetization. Monetization (also spelled monetization) literally means to convert something into money. In practice, this means turning things into revenue-generating activities, services, or assets in other ways.
How to Monetize Anything?
When you create a digital product, your main goal is to generate revenue from it. The basic rule for monetizing anything digital is to connect with your intended audience and give the user what are they looking for. If you follow this, you can monetize a platform, an application or extension without a problem.
- Affiliate advertising
Affiliate marketing means you get paid for every referral you make to another company. When you add affiliate links to your platform, you’ll receive a commission from each person that clicks your affiliate link. The link can open a product page or an offer where the user can buy a product.
Affiliate advertising do’s and don’ts
Do make clear on your platform that you are using affiliate links and with whom.
Do recommend products and services that are relevant to your audience.
Don’t overpromote, cluttering your platform with all kinds of affiliate links.
This is one of the most common ways to monetize a platform. Simply explained, it means you partner with an advertising network that displays relevant ads on your platform and banner and get paid every time a viewer clicks on them. Ad networks pay publishers a rate per click, called Click-Through-Rate.
One of the most popular ad networks is Google AdSense. Want to know how to make money with Google Adsense? Check out our How To Make Money With Google AdSense article.
AdSense isn’t the only advertising network you can choose, in fact, we compiled a list of the best ad networks for publishers in 2022.
PPC do’s and don’ts
Do choose an ad network that caters to your audience
Do choose an ad network that meets your percentage needs.
Don’t start with PPC if you don’t have enough traffic. Every network has different requirements, and it can take a while to build enough traffic to get a nice income from PPC.
- Display ads and banners
You can sell ad space on our platform as another way to improve your income. This can allow you to arrange the prices directly with the advertisers, getting the entire pay instead of a percentage. Of course, this also requires promoting your ad space and negotiating with advertisers. You can sell space for different types of ads, video, interactive, rich media, and banners.
Pop-up ads are another way you can make a profit from advertising. Although pop-ups can seem annoying, the fact is that they are effective. Pop-ups can get an advertiser’s message right in front of visitors and that’s why the engagement and click rates are usually high.
Advertising do’s and don’ts
Do use this model if you have high conversion rates. For example, if you have a solid community of followers or recurring customers.
Don’t use CPM if you don’t have very high traffic numbers. While you can earn $5 per click, you will get the same but per a thousand impressions.
Don’t implement too many pop-ups or you risk annoying your visitors.
- Sponsored Posts
Sponsored guest posts can bring you a steady source of revenue. How does it work? You collaborate with a business to create or publish promotional material. It can be a review, a sponsored post, or a feature.You can publish the content on your platform or create the content yourself. If you create the content for the brand, you can ask for a higher rate than just publishing.
Sponsored Posts do’s and don’ts
Do invest in your platform strategy. The more popular your site or blog is, the more you can charge for your sponsored posts.
Don’t be sneaky. Identify sponsored content as such. If you charge to promote content, tell your viewers. Avoiding disclosing sponsored content can eliminate the trust they have in you.
- Search monetization
Adding a search box to your platform can give an extra source of revenue. Every time a viewer uses your search page is served relevant ads according to their search keywords. When you use a monetized search box, you earn a commission every time the person conducts a search.
Search monetization do’s and don’ts
Do customize the search feed for your site. The feed will look like part of the page.
Do use search monetization if your site gets a lot of traffic.