How to charge a higher rate for advertising on your website?
Selling advertising on your website can be an extremely lucrative proposition. The goal is always to increase advertising revenue. There are a few ways in which you can raise your advertising rates while still appealing to a wide variety of potential and existing advertisers. Obviously, advertisers are looking for the best deal possible, which is why you have to prove to them that what you are charging is still a smart financial investment, even if that means paying more than they would at other websites. When you are looking at a higher advertising rate, consider implementing the following 5 techniques in order to make it possible:
Build a better audience
By better we mean an audience that is going to be particularly attractive to many advertisers. That generally means going after people who are educated, and who have a high disposal income to spend. Advertisers love that group of people and they will happily pay more to get their products and services in front of that type of audience. Keep in mind that you have to create content on your site that will attract those folks, assuming that you aren’t doing so already.
Choose a good ad server
There are a number of different ad servers available for you to choose out there, but not all of them are created equal. Some adservers come with very basic features, while other adservers come with a whole suite of tools that help you personalize the ad experience on your website. Look for one that allows you to reach those particular viewers via advanced targeting features. You should be able to configure your ads so that they are aimed directly at your target audience.
Deliver a proven sales conversion
It is also important that you choose an ad server that allows you to keep tracks of all the views, clicks, and sales made by the ads shown on your website. If you can show potential advertisers that you have a solid click-to-purchase ratio, or conversion rate, they will see that you have an audience that is often ready to buy. This one element can really make it possible to raise the rates for your advertising.
Geo-targeting and visitor segmentation
Again, the data that you compile from the ads shown on your site can help you with your advertising rates. It may be that visitors from certain countries or demographics are more active and more attractive than others, and you can vary your rates based on who your potential advertisers are trying to reach.
Premium ad formats
Advertisers are well aware that there is only a limited amount of advertising space available on any given website, and they will be willing to pay more to get the perfect spot. Perhaps open up a larger spot for advertisers willing to pay a higher rate, with the prime location on your main page likely to be the spot that draws the most attention. Be flexible with your advertising rates, but make it clear that those premium spots are only open to the highest bidder.