In college media, the tendency is to regard the Web as a mere afterthought in terms of revenue. For those of us at college news organizations, however, the time to start perfecting our online revenue system is now, not in five years — when it’s too late and you’re bankrupt.
Capturing value on the Web can be overwhelming because the audience and approach is different from what we’re used to with print. Chances are that your Web site users are parents and alumni, meaning that you can’t translate ads directly from print to the Web. Advertising online means leveraging resources like Google AdSense and Amazon Affiliate links and tailoring ads to match your user demographics, which you can track using an analytics service.
Making money online doesn’t only come in the form of advertisements — podcasts, minisites, events calendars and other features can be monetized through sponsors. Giving out promotional code coupons on certain days of the week is a way to both generate traffic and engage users with ads.
To dispel a myth about online advertising, we must realize that ads online are not all about generating clicks and traffic to advertisers’ sites. The point of having advertisements on a site is to build brand among readers. A study shows that when exposed to branded ads, the impact may not be direct or immediate, but “users engage better and transact more with brands once they’ve been exposed to them. ” Even if they don’t click the ad, they’re still building brand recognition and creating value in those online ads.
But the key to good money will always coincide with good journalism. The better the site content, the more eyes will come to our news sites. More eyes means more advertising potential, which ties into everything we’ve discussed before; investing in your staff, creating a web-native newsroom, and constantly innovating from within.
What is your approach to online advertising or how do you regard it? What steps can you take to improve your organization’s utilization of the medium? Sound off in the comments.
