Well, on my first post of the Build-a-Blog series that I published in March, which you can find here I talked and pretty much skimmed over Monetization with ads and generating ad-revenue by earning people’s loyalty. This time, due to several things going on in the world of fintech, I have started to start my marketing campaigns again and give several things a “refresh”.
After I accidentally lost the Adventure Bitcoin domain to several Freenom for a failed renewal attempt, I have started transferring any Adventure Bitcoin posts back to the original Adventure Bitcoin, which uses affiliate marketing and reader donations in order to stay relevant.
Ever since I started Adventure Bitcoin, views were never very high due to the quite dark and too simple theme that WordPress had and the lack of a proper domain, just the .wordpress.com domain really got on my nerve since for some reason, WordPress didn’t let proper ads be showed, only really long links from the HTML.
Well, here’s a tip for monetization, if you are running it out of a free WordPress.com blog, affiliate marketing is your only option. On my other websites, ad-slots work perfectly and I have even included my own “Advertise here” links to allow advertisers to contact me because I have something to offer them, networking, I have a decent amount of connections in the bitcoin industry which is quite interesting.
Alright, so monetization with ads means that you are using ads that are paid per either impression or click and does not include affiliate banners because those generate no impression or click revenue.
Yes, business is fun but once you factor in statistics, it gets interesting. So, first off, you should probably start building up a fanbase or a way to get people to continue going back to your website. You do not want to start off with ads immediately because first off, you have no traffic so you won’t get impressions or clicks. Also, ads are super annoying so people don’t want to stay too long because they’re scared of getting viruses. Please be careful of the ad-network you will be using, it could be one that gives all your readers viruses.
I understand that I talked about this topic in an earlier post but this time, I can finally dedicate a post to it.
So, I said there are several types of advertising. There are 3 types of rewards: revenue, traffic, loyalty. All 3 are essential to the popularity and to keep your blog alive.
You need traffic first to generate impressions and clicks for your ads. This is something I noticed when putting up ads. Put ads where you get the most traffic but don’t put too many because that drives away customers. The best idea is to keep the look simple. Please do not try popups because they annoy me and will probably annoy others. Depending on which ad-network you chose, you can either get paid per click, impression or action. We will get to action later but right now, if you want clicks, put the ads where people would likely click. Impression ads should be put where the most traffic is located so you can maximize your revenue.
Clicks and impressions
Let us say that your website has roughly 500 pageviews a day and you put an ad on the footer/bottom area, that might be 100 impressions. This is a very large problem because first off, footers are the least viewed areas and normally are the cheapest ad-spaces. You will not earn anything with a 200×200 ad in the footer. But if you put the same ad on the homepage header, you might increase your chances of getting more impressions while still having the 500 pageviews. That is because everyone sees the header more.
For traffic, you will need to raise your pageviews. 500 pageviews is not much but is better than nothing. I suggest that you should try social media marketing or try a banner exchange because those are free and are worth it. Let’s say that a website has 50,000 pageviews per day, they have a bigger chance of getting more impressions and clicks than a 500 pageview website.
CPA, also known as Affiliate marketing is quite different. Since it does not require any type of specified placement, you do not have to put it with the most traffic. Put it in places where it relates to the posts. Such as my Trezor wallet ads. I put affiliate links and banners to show readers where to buy the product. Instead of being paid per click or impression, publishers get a small commission which can add up and might earn more than ads. 99Bitcoins’ Ofir Beigel teaches a nice $25 CAD course on Udemy which I heard was really handy.
If you want to check out a really good example of affiliate marketing, check out 99Bitcoins because they are full of affiliate marketing and even have a post about it. Since affiliate marketing does not guarantee sales every time, many publishers add ad-networks as well and 99Bitcoins also does that to have multiple revenue streams.
Loyalty is the interesting part. I always have returning readers because they find my content either interesting or want to see what I am up to. There are 3 things you need to make sure exist in order to keep loyal readers:
- Socializing with/caring about readers
- Constant content
- Keeping things interesting
Loyal readers are who you want to impress because they have the power to refer people to your website. Also, they are your base for pageviews so you better treat them nicely and with respect. This is big. Think of how you want to be treated. I realized that you must create a brand or brand yourself to make sure people can trust you. Build a positive fanbase and start small, then work on getting more visitors. Remember to answer questions, consider feedback and ideas that visitors might have. I would not want to visit a website where the owner does not consider answering a sales pitch. It tells me that he or she might just randomly shove the stuff into visitors’ faces and leave. Once, on Adventure Bitcoin, I did a review for Exchangemycoins.com (which I really enjoy using). Several months later, I got a comment saying that I forgot to link to their website! I immediately linked back and contacted the guy that I updated it so the post links to the website. If readers have questions, please try your best to answer them. This builds trust between the publisher and reader and if they are into the topics you like, you guys might continue talking about it and they might return again for more.
Constant content is what you need. Take CoinTelegraph for example. They publish articles everyday and built reliability trust between them and their readers. No matter what day it is, there would be posts everyday. Yes, you can stretch it out so you can have 1 post a week but at least notify users when you post. This will tell them when to get on to view your content. I’ve seen blogs (including mine) which publish posts maybe once every several weeks and never really remain constant. Such as Adventure Bitcoin. My main focus is TFSC because I try for 2 posts a day but I cannot handle 2 websites at the same time. Just keep that in mind, never handle too much stuff at the same time! Also, even if you are not used to posting constantly, at least include an email list so people can subscribe to in order to receive updates and new posts.
Keeping things interesting and maintaining your website is a big one. Interesting and eye-catching content will get readers coming back for more. But please ensure that everything you are doing does not offend readers and does not burn you out of ideas. Also, change the site layout occasionally. People sometimes get tired of seeing the same layout or love seeing the same layout. Maybe do a giveaway, specials, etc for readers so they come back. You can even do a survey to see if people enjoy your website and what to improve on! Less ads? More of this topic?
Please do not use click baits many websites and Youtubers use click baits for some of the worst content yet but it is clever marketing. Stay honest and put somewhat accurate titles such as “2008 crash might come again!” rather than “Man predicts biggest economic fail in history!“. First off, it was not as bad as the Great Depression and secondly, yes, it is eye-catching but please stay honest. You might have the best title but maybe not the most accurate content-to-title post.
The main goal of monetization is to set up a stream of revenue. Yes, and no. Yes, monetization allows you to generate revenue to support your website and with the proper ad-networks and advertisers, it can work out really good. No, because it is not all about setting up a way to earn revenue, it is also to increase your brand awareness with companies to show them that you are an emerging competitor in the industry. With more ad revenue comes a better profile in the eyes of companies and advertisers.
Choosing the ad-network(s) that is right
“What should I choose?” is a very interesting question and is very hard to reply to. Yes, I posted my top 5 ad-networks for beginner websites but right now, I am talking about all the different ad-networks (Adsense, Buysellads, CoinAd). All the ad networks offer different features, benefits and advertisers and should be considered. Do you have the minimum requirements to be a publisher for one? How much are they paying me? Depending on your situation, your choice of ad-networks can differ. Most websites start off with Google Adsense. Safe, easy-to-use and most important, pays well. There is a small chance that any other ad-network can beat Google but maybe you might find one.
First off, put all your potential ad-networks on a spreadsheet with advantages, disadvantages, features and benefits. Remember, features and benefits are not the same! Features are what comes it, benefits are how you can benefit from the feature. Then, compare and see which one is the best for you. Yes, you can use multiple ad-networks but please keep it only to 1-3 or else advertisers will wonder if you are only here to earn a profit and not care about content and delivering their ads to caring visitors.
Creating your own ad-network
You can always create your own slots on your website saying “Advertise here” or “Your ad here”. This cuts out the middleman (Google, etc) and you get to keep 100% of the revenue. Problem is that you need a really good standing website in order for advertisers to consider taking the gamble. I started putting “Advertise here” links to allow potential advertisers to purchase ad-space but none have bought ad-space because of the lack of trust and statistics. You must look at this statistically, if I am an advertiser and I cannot see your pageviews but you have excellent content, I cannot assume you have 200,000 pageviews a month. You must remember to provide statistics and who your target audience is. I use StatCounter because it is easier for me to check stats, visitors, etc and also, I have no idea how to use Google Analytics. This idea does not always work so I recommend including some affiliate banners to compensate for the lack of ad banners in the ad-slot you are trying to sell.
Increasing awareness through ad stats
When creating your own ad-network, companies might ask for statistics including pageviews, ad impressions and clicks. The more you have, the higher chance that a company will consider you for their company promotions and marketing. It will also increase the chances of potential advertisers, backlinks and unique visitors who turn into loyal ones because the other company refers them. I was once talking with a potential advertiser and they wanted my website stats, since I have no idea how to use Google Analytics, I was very puzzled. They did not consider buying an ad-slot due to the lack of statistics. So, be ready with statistics and demographics.
Well, that is the end of this part. Informative? Awesome! Need help with your website? Questions? Comment below and we’ll see how we can help.