In a traditional sense, publishers use audience data to measure audience activity and engagement with their online content; for ad targeting; and to identify areas where they can refine content. Yet, there are more and more examples emerging for how publishers are using deep audience data, creatively, for monetization.
Before we talk about some of those examples, here are a few reminders about data management:
The name of the game is to build multiple revenue streams. Start by identifying what you have already and setting goals for growth. Some argue that as a digital publisher, you should have 10-15 revenue streams to work with. Many of our clients use their data to help boost various revenue streams including:
But they aren’t limited to those options. Publishers are using their audience data to expand revenue streams in some traditional (like job boards) and not so traditional ways. A recent article on ABM discusses four unique monetization efforts.
1) Praetorian Group’s grant writing assistance turns data into leads and sponsorship opportunities for vendors and advertisers.
2) Crain’s Pensions and Investments’ multi-step marketing campaigns deliver deeply qualified leads to clients.
3) Marketing &Technology Group requires reader registration for all of their content and annual updates to increase the value of their data, better customize content and advertising and deliver real-time ads at an increased price.
4) Watt Publishing offers its data as a product: tailored marketing programs for clients reveal detailed behavioral attributes for leads.
As you can see, the value of data is multifaceted, and the options for monetization are only limited to your imagination. We’ll keep you posted as other examples emerge, but in the meantime, you know your audience best—what unique data-based offering can you create for them?