So you want to make more money from your blog or website? This can sometimes feel like a complicated problem without a clear place to start. One of the things that has stayed with me since college was that the best way to attack a seemingly daunting problem is to establish a framework for the problem. While this may seem overly simple to some, I find that it has helped me to make improvements to my sites.
For increasing revenue from my site, I like to frame the problem as:
Revenue = Traffic * Monetization
Traffic = f(Search Engine Optimization, Quality Content, Viral Nature of Site)
Monetization = f(Revenue Generation Methods, Ads Per Page, Ad Effectiveness)
Let’s walk through the framework.
The first equation shows that Revenue can be thought of as the traffic to your site times the rate that you monetize visitors to your site. If your blog receives 100,000 page views and you monetize the site at $3.00 per thousand visitors, then your blog’s revenue will be $300/month. If you want to increase revenue to your site, there are essentially two variables that you can adjust. You can increase traffic or you can increase the rate that you monetize your site. When working on enhancements to my sites, I like to focus my efforts around one of these two variables.
So how do you improve either the traffic or monetization of your site? As noted in the framework above, I consider traffic and monetization to each be composed of driven by 3 key drivers
Key Traffic Drivers
1.) Search Engine Optimization. A well-optimized site can make a huge difference in search engine traffic. This is an area of interest to me, but not something that I am particularly good at.
2.) Quality Content. Sites with quality content should receive more traffic over time. The impact of quality traffic can be further amplified by the third key driver.
3.) Viral Nature of Site. Some sites just have a great viral quality about them which greatly amplifies their traffic. Of course MySpace and YouTube are great example of this. I can’t tell you how many times I have referred my friends over to videos on YouTube.
Key Monetization Drivers
1.)Â Â Â Streams of Revenue. Well monetized blogs or websites often have multiple streams of revenue. For example, on some of my sites I have sponsors, use AdSense, and some affiliate links.
2.)Â Â Â Ad Density. I think of ad density as the number of ads on a site. A delicate balance is usually required here. Too few ads will leave money on the table, and too many ads will drive away users.
3.)Â Â Â Ad Effectiveness. You can have tons of the AdSense and affiliate links on your site, but they have to be relevant to the site to generate clicks and/or desired affiliate actions. Contextual advertising has made this much easier than it used to be, but I think many sites have opportunities to increase the effectiveness of the ads which they run.
Throughout the life of this blog, I plan to touch upon many of these key drivers, with special emphasis on the monetization side. This is my first pass at the framework, if you think I left out any key factors, feel free to leave me some feedback.
Related Posts
- Methods to Monetize Your Site
- Monetization Improvement Case Study: Glamourite.com
- About Monetize Traffic
[...] Monetize Traffic « A Framework for Making More Money from Your Blog [...]
[...] The ideas above work on both the monetization and the traffic side of the site. These changes would boost key drives in the monetization framework that I have written about before, and should have a strong positive impact on the site. [...]
what other monitization methods are suggested other than adverts?
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