Have you read the recent news? According to the Radio Advertising Bureau, with help from new research from Borrell & Associates, in 2019 radio’s digital ad revenue topped $1 billion for the first time and now totals 10% of radio’s overall revenue.
But are you making the most of your digital footprint to be part of that windfall?
Back in the old days of digital, you sold some banners on your website and called it a day. But these days, dumping all your revenue eggs in one basket is shortchanging your potential income. With the advent of mobile apps, voice skills, podcasting and other ways of getting your content in front of your audience, it has built a much broader base to build revenue.
Why a Revenue Mix Matters
Once upon a time, not so very long ago, your options were somewhat limited when it came to digital revenue (though I gotta admit, some of you were very crafty in expanding the boundaries). It was all about display ads and how many banners could be crammed into a single page.
These days, it’s a bit more complicated. OK, that’s a massive understatement – it’s a lot more complicated.
Building a revenue mix doesn’t have to mean abandoning traditional income sources like display ads. Quite the contrary! But there are so many MORE ways to wring every last penny out of your digital efforts.
Having only one or two revenue streams on your digital platform simply limits your ability to make money. Not only that, it also increases your vulnerability in changing and volatile markets. Let’s take a look at mixing and increasing your revenue streams to take advantage of being everywhere your audience is.
Ok, we’ll start out with the most common form of digital advertising, the humble display ad. You may think it is simple, but if you are treating display ad as “simple banners” you are missing out. Check out all the different ways you can take the “display ad” to a whole new level:
• Google Ad Manager (DFP)
With Google Ad Manager, you can choose to run multiple display campaigns programmatically, guaranteed or not. Furthermore, you can optimize the inventory from open auction, private marketplace, and reserved deals. Basically, you’ll always be running an ad and making money, whether you sold the spot or not.
• App or Mobile Specific Display Ads
Yes! With an awesome OneCMS app, you now have an entirely unique plot of real estate to sell ads on. Tell me you aren’t just plopping your website ads on there?
• Interstitial & Lightwindow Ads
When pushing a notification to your audience via your app, you can show them an interstitial display ad when they access the link on your app.
Similarly, on your website, you can have a lightwindow display an advertisement (also known as popup or hover ads) for a certain amount of time before users can access the content on your website.
• Background Takeovers
Called many other things such as clickable backgrounds, wrappers, homepage takeover skins, gutter ads or left & right rails, etc… It is a static background image that serves as a branded frame for a web page.
By wrapping the page in a banner skin, you focus the user’s attention towards the page’s clickable ad units similar to a painting’s frame–focusing the viewer’s attention onto the picture but not competing with it.
Audio and Video Advertising
Got a show? Then you’ve got a potential podcast. You’ve also got potential video content as well. Which means you also have another potential revenue stream. When people listen to podcasts or watch a video, they’re able to connect with your personalities in a way that’s hard to replicate on any other platform. That’s why audio and video ads are some of the higher revenue producing forms of advertising out there.
Pre-roll ads are 15 to 30-second ads at the beginning of a podcast or video and are placed either before or after the host introduces the show. Pre-roll ads are a bit more formal than Host Reads, and usually feel like an advertisement.
Many providers (like OneCMS) also stitch pre-rolls to podcast episodes so when they are downloaded via 3rd party aggregators like Apple Podcasts, the advertisements still play!
• Host Reads
• Voice Skill Pre-Roll
Don’t forget our round little friends that sit in the kitchen, bedroom, garage, etc… You can have unique ads that play before your content begins streaming on Alexa products.
Sponsored Content & Events
Sponsoring valuable areas of your website differs a bit from the traditional banner ads. These businesses are joining with your brand for long-term commitments and expect to displayed prominently with the sponsored content.
Think of you sponsored areas like a NASCAR race car. Your sponsors want to be front and center.
What areas of your website are ripe for sponsorships? Lots! Here’s a few:
- School Closings
- Events Calendar
- Daily Polls
VIP Club Emails and SMS Blasts
Sponsored email (or SMS) involves sending emails/SMS messages to your audience on behalf of a third-party sponsor. In other words, you’re renting out your email list, or accepting payment from a partner in exchange for sending a promotional email to your distribution list. You’ve probably received a sponsored email at some point in the past few weeks, as many publishers offer sponsored emails as a way to monetize distribution lists.
Of course, you don’t want to deluge your audience with email spam (or prepare for a ton of unsubscribes), but for an occasional use-case, you’ll reap the rewards.