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Monetizing your Web Presence
- 1. ©Leona Laurie 2014 MONETIZING YOUR WEB PRESENCE Presented by Leona Laurie For Megatrax Production Music www.megatrax.com
- 2. THE OVERVIEW Local and independent broadcasters have a unique opportunity in the digital era to transcend the limitations of their medium and engage with their audience and region in other arenas. Beyond offering the chance to win new audience members and intensify the loyalty of existing audience members, websites and social profiles offer opportunities for direct and indirect revenue streams that are worth exploring. Following is a simple 5-step strategy for monetizing your web properties and maximizing your ROI. ©Leona Laurie 2014
- 3. STEP 1: SETTING INTENTIONS/ R&D PHASE 1 Decide how you’d like to monetize your web presence: Directly? Indirectly? Both? Clarify exactly who you are trying to reach: Demographics Geographic area Create audience member profiles Identify where your target audience spends their time online Set your timeline- 6-12 months Determine objectives for audience growth/engagement ©Leona Laurie 2014
- 4. SAMPLE: DIRECT & INDIRECT MONETIZATION ThePioneerWoman.com ©Leona Laurie 2014
- 5. SAMPLE: IDENTIFYING YOUR TARGET AUDIENCE ©Leona Laurie 2014
- 6. STEP 2: CRITICAL AUDIT/ R&D PHASE 2 Compare yourself to your top 3-5 competitors Find them everywhere they’re online: Compare your web presence to theirs How does your website compare? Are you active on all the same social sites? Are you a member of the same communities? Review your data collection processes Are you collecting data on online audience engagement? Are you comparing your numbers online to your broadcast numbers? ©Leona Laurie 2014 Website Social Profiles Communities
- 7. SAMPLE: TRACKING THE COMPETITION ©Leona Laurie 2014
- 8. SAMPLE: DATA TRACKING Sprout Social ©Leona Laurie 2014
- 9. STEP 3: EXECUTION Bring your web presence up to the industry standard Engage, engage, engage! Get engaged with your audience online Cross-promote online and offline Look for strategic partners who can shortcut engagement (contests/give-aways) ©Leona Laurie 2014 Create a plan for meeting the competition on a level playing field Prioritize your website first Create a budget and plan for sustainable social media management
- 10. SAMPLE: STRATEGIC PARTNERS ©Leona Laurie 2014
- 11. STEP 4: ANALYZE Weekly-Monthly reviews of progress How are you tracking and analyzing data? Adapt as you go– if it isn’t working, ask WHY before proceeding either way. Keep an eye on the competition Review their web presence as often as you review your own ©Leona Laurie 2014
- 12. STEP 5: MONETIZE When your online audience crosses your set threshold for growth or engagement, leverage it! ©Leona Laurie 2014 Monetize online through new sponsors or third party agencies Monetize offline by creating new relationships with advertisers/sponsors or enriching existing relationships Be creative! If you have an engaged audience, you can include them in the creative process! (contests/giveaways)
- 13. NEXT STEPS If you need an outside perspective in order to honestly evaluate how you’re doing, get one! This process should be ongoing. Include it in your annual calendar! Look beyond your competition to other areas that share your target audience Warning: Prepare for success! Succeeding at engaging your audience in a new way can change and grow your business. Be prepared! ©Leona Laurie 2014 How can you learn from them? How can you work with them?
- 14. WANT MORE? Subscribe to my blog at www.leonalaurie.com/blog Stay tuned for the next monthly webinar from Megatrax! ©Leona Laurie 2014