Create New Revenue Opportunities
When I was evaluating my geo-websites, I realized that I could have great traffic and content, but based on my advertising placements and opportunities, unless my prices were sky-high, I would never be able to turn them into self-sustaining businesses. I have 6 banners on the top bar of home page, and they rotate throughout the site. Additionally, I charge for job listings and I use a hotel affiliate for reservations. Although I have signed-on a few local advertisers in the last few weeks, the revenue is still fairly small compared to my other ventures.
Over the past couple of days, I’ve looked at each section of my website with an eye on increasing the revenue. After comparing some of my sections (such as the restaurant section), I realized I need to look at each area as a completely separate revenue generating opportunity. By doing this, I created the first iteration of the Lowell Restaurants Guide, and I am rapidly working on iteration #2 (well, my designer is).
Comparing my website to a garden, I had been tending to it as a whole – just watering the entire garden to make sure everything received enough hydration. Instead of doing this, I am now tending to each individual plant, making sure each gets specific nutrients to stay healthy and grow as large as possible.
I am not looking to maximize the revenue on my geo websites yet. I am looking to create opportunities for the future. I am building the brands locally and I am opening up advertising opportunities. Watching Shaun in Kelowna has really inspired me to look at ways to build these into bigger businesses. Each day, I am working towards achieving this goal, and I will soon share more of my business vision for my geodomain holdings.
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