monetizing your web presence
DESCRIPTION
Expert social media strategist and trainer Leona Laurie fifers a 5-step process for direct or indirect monetization of your web presence. www.megatrax.com / email: [email protected] / phone: 888-MEGA-555TRANSCRIPT
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MONETIZING YOUR WEB PRESENCEPresented by Leona Laurie
For Megatrax Production Music
www.megatrax.com
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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.
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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
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SAMPLE: DIRECT & INDIRECT MONETIZATION
ThePioneerWoman.com
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SAMPLE: IDENTIFYING YOUR TARGET AUDIENCE
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STEP 2: CRITICAL AUDIT/ R&D PHASE 2
Compare yourself to your top 3-5 competitors Find them everywhere they’re online:
Website Social Profiles Communities
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?
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SAMPLE: TRACKING THE COMPETITION
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SAMPLE: DATA TRACKING
Sprout Social
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STEP 3: EXECUTION
Bring your web presence up to the industry standard 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 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)
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SAMPLE: STRATEGIC PARTNERS
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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
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STEP 5: MONETIZE
When your online audience crosses your set threshold for growth or engagement, leverage it! 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/give-aways)
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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 How can you learn from them? How can you work with them?
Warning: Prepare for success! Succeeding at engaging your audience in a new
way can change and grow your business. Be prepared!
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WANT MORE?
Subscribe to my blog at www.leonalaurie.com/blog
Stay tuned for the next monthly webinar from Megatrax!