As a publisher, one of your biggest challenges is figuring out how to make more money without sacrificing the user experience. Competition is fierce, with the global digital content publishing market size expected to grow from $36.29 billion in 2021 to $41.64 billion in 2022 at a compound annual growth rate of 14.8%. The industry is poised for explosive growth, and there are many opportunities to make money if you know where to turn your attention.
While there are no one-size-fits-all solutions, several valuable publisher strategies and tips can help you find the success you desire.
5 Publisher Strategies to Help You Increase Revenue
As a publisher, your success depends on more than just having a great product. Great products are only valuable if they generate revenue while also providing value to engaged readers. That’s why it’s so important to have the right publisher strategies to help you increase revenue.
According to a study done by Reuters, while approximately 59% of publishers believe their revenue has increased in the last year, it is still crucial that publishers have several strategies in place to help them improve their revenue.
That same study showed that publishers believe that to remain successful in 2022, they will need to have, on average, three or four different revenue streams.
However, finding the right publisher strategies to help you increase your revenue can be a challenge. Here are five publisher strategies that can help you get started:
1. Understand Your Audience and Segment Them Properly
As a publisher, it’s your goal to connect with your audience. However, you first need to understand who your audience is. This will help you identify the best ways to reach them, enabling you to increase revenue.
For example, if your audience is younger, you may want to target them with a strategy that focuses on social media. That’s because those under 50 tend to get their news from social media, with approximately 42% of those between 18 and 29 saying social media is their preferred method of consumption, while another 25% of those aged 30 to 49 also use social media for their content consumption.
Once you understand your audience, you can then start segmenting them into different groups. This is another crucial step in your revenue strategy. It helps you better understand which segments are most likely to interact with your content and which types of content are most likely to generate the engagement you desire.
2. Offer Responsive Content Suitable Across Devices
One often-overlooked strategy for increasing revenue is to offer responsive content. Responsive design is a design approach that adjusts its content to be accessible on various devices, such as smartphones, tablets, and computers.
With nearly 59.5% of all web traffic coming from mobile devices, and roughly 40.5% coming from desktop devices, it’s clear that responsive design is a crucial element in your publishing strategy.
Offering responsive content helps increase the likelihood that they’ll interact with your content and become loyal subscribers.
3. Offer Personalized Content Through Recommended Content
Whether it’s content or advertisements, consumers demand more personalized information be delivered to them.
In fact, studies show that nearly 71% of consumers say they would prefer to see ads that are tailored and personalized to their interests and shopping habits. Furthermore, almost 90% of consumers in the U.S. find personalization appealing.
By taking the time to understand your audience better, you can then start personalizing the content and ads that you recommend to them. This will give your audience the information they want without any of the extra fluff. This will ensure that your audience is engaged and keep coming back for more.
4. Consider Offering Digital Subscriptions
As consumers continue to gravitate towards digital content, more and more publishers are offering digital subscriptions as an additional revenue strategy. Offering digital subscriptions gives your audience access to your content regularly, which increases their likelihood of engaging with your content.
By offering digital subscriptions, you’re also providing them with the ability to access your content from anywhere. This allows them to engage with your content when and where it’s most convenient for them.
With approximately 21% of Americans saying they have purchased a digital subscription to online news content as of February 2021 (ranking third globally for paid online news content), consumers are ready to engage with more digital content.
5. Introduce a Paywall
Although a paywall can be a controversial strategy for increasing revenue, it’s worth considering for your publication. A paywall is a barrier placed on certain content pieces that are only accessible through a subscription.
By offering a paywall, you’re allowing your audience to engage with your materials without the fear of being “spammed.”
Paywalls don’t have to block off all your content completely. You can still allow for many articles to be read before the paywall is activated. Doing so enables your audience to have a chance to see what you have to offer and decide whether it’s something they would like to subscribe to later down the line.
Faster Technology and More Revenue with RevContent
As technology continues to change how we interact with content, it’s becoming increasingly important for publishers to remain at the forefront of this change.
With the right combination of strategies and the right toolset, you can have the ability to offer your audience more content at a faster rate. This will allow you to increase the number of unique visitors coming to your site and ultimately increase your revenue.
Faster technology. More Revenue. Goals Exceeded. Get started today!