We have been looking at things you need to consider before monetizing your content. Content monetization is something that can produce amazing results if it is done with care. You will have to invest the time to go over this consideration. We want to look at the second set of questions to consider before monetizing your content.
Have You Looked At The Informatics?
Even when you seem to have answered all the first set of questions, your content might not be ready for monetization. What is the data saying about your traffic? What are the keywords that are drawing people to your site? Where are they coming from and why are they coming from there? Which pages on your platform were the most visited?
These will not jus give you some great insights not just about your readiness but also on how to go about deploying the right monetization tools. For instance, it might make you to start seeing the viability of direct ad space sales on your platform from companies from a particular area if a large portion of web traffic to your platform originated from that area. This may be something you may never have considered if you had not looked at the data.
Data is like a toolkit that opens up opportunities for you as you get to consider things that you had never thought of in the first place. It might give you idea on the type of content to emphasize, what to build upon and sustain as well as what to ignore.
When Can The Traffic Be Enough?
While data might give you an idea of the size of the traffic, it may not tell you categorically when to monetize. The question above can be answered with the considerations below.
Consider Your Niche
A small niche might not need to have thousands of audience for it to be viable on monetization. The niche might be so specialized that it would automatically eliminate the need for ad serving companies like Google Adsense. At the same time, niche advertising and direct ad space sales could be viable and highly profitable for such small niches. Your niche could be about classic cars. You will not need to have hundreds of thousands of visitors to know that it is time to monetize. A couple of thousands could just be the right number.
Small and exotic niches have the ability to create high engagement value, as the people visiting will only stay if it is what they want. Again, such niches will best be served by tools of monetization that do not need a high number of people to make money. Coaching programs can do well with them as well as sale of eBooks. Referral may not do so badly as well as endorsing products related to what you niche is about.
Consider Your Intended Tool Of Monetization
We have mentioned this under the last section. When looking at whether you have enough traffic or audience, you may have to do with your intended tool/method of monetization in mind. There are people with a fixed sense with respect to their tool of monetization. They may have peculiar reasons why they intend sticking to such a method so we have to factor this. In such cases, you will have to bend to the fixed tool of monetization. If you have a mind to use one tool or a particular set of monetization tools, then you have to wait for the conditions to be ripe for such tools to be deployed.
The Perfect Time?
In the final analysis, there is no perfect time. However, there are some things that can give you an indication of the best time to start monetizing. The common answer you will get is that you should allow your platform a bit of time to mature as well as create some in-depth content. There is nothing wrong with these answers on their own right.
There is nothing that beats good planning and if you plan well enough before starting, you can as well start monetizing immediately. There are some people who go as far as sourcing for advertisers and find them before launching their platform. They set everything up and launch immediately. It still boils down to how well they have planned it. Your online platform does not have to be supported by millions of dollars from angel investors for it to have the look and feel of one of such platforms.
Follow the normal process of planning from the conception stage to the execution and you would match any of these big platforms in results even if it is at your level.
Your platform can be bigger than what you first imagined. Buzz me on anything we have shared above. Your contributions could light up a bulb.