Are You Maximising Your Online Platform? Step Back Before You Hit a Wall
29th June, 2017
If you are an online platform with a large audience, you may well have several brands lined up at your door wanting a piece of the pie. Of course, this is an ideal situation and the mentality of most business people will be ‘cash in whilst you can’ and push the accelerator button, however this is the perfect moment to step back and carefully consider your commercial plan for the future success of your business.
With a large audience at your disposal, you’re already the envy of most of the internet and you’ve likely spent a great deal of time, effort and money to get to this stage. Therefore, now is not the time to succumb to the temptation of the quick win, it’s time to build the foundations for growth.
There is an abundance of ways to monetize your online audience, with affiliate marketing, sponsored blogs, the selling ad space and pay per click being some of the most common. Generally, the majority of these deals are short term, which is great for cash flow, but may not be so great for your loyal audience, and after spending all the effort to build your following to this point, any brand you allow to integrate should be only involved with the aim to grow that following.
To do that, the key at this point is to understand the value of your assets and create a strategic plan to achieve maximum revenues. By creating relevant business partnerships, which engulf a multitude of the assets you possess will help you reach higher revenues and drive your online platform forward. If there is not an inhouse employee skilled in this department, it is in your best interests to seek guidance.
By having a specialist involved to assess the platform you will be able to take that step back before hit a wall and leap over it instead. Once your commercial value is realised, developed and packaged it’s only a matter of time until you are able to attract long-term brand partners that will bring considerable revenue and also add to the online experience, thus growing your audience and opportunities even further.