Top 5 Ways to Monetize Top Lists & Award Programs
Media publishers often feature top lists and award programs like Top Doctors, Book of Lists, Best Workplaces, Top Realtors, and Best of the City. These lists are a valuable resource for readers seeking high-quality services. What are the most common and effective revenue streams from these lists?
Publishers who excel will tend to have 2-4 channels that are each bringing in meaningful revenue. What channels from the list below are producing the most revenue for you? Which ones look like opportunities?
For each category of revenue, I will provide an expert who can help you maximize that channel.
#1. Advertising Packages (O&O). Pint and website display ads, newsletter ads, targeted e-blasts, sponsor articles. These are the bread and butter products of any successful media organization. Expert: Ryan Dohrn.
#2. Agency Services (Extended Reach). Generally, you would partner with someone like January Spring, Adcellerant, or Vendasta to fulfill digital services for your client, including targeted ads, location based ads, web site services, social ad campaigns, etc. Got to this article to see more about the agency model: https://datajoe.substack.com/p/people-of-media-will-hill-the-agency. Expert: Will Hill, Charity Huff
#3. Plaques/Memorabilia. Done well, plaques can be a lucrative secondary revenue stream. You will need an entrepreneurial plaque vendor who will not only fulfill the plaques, but will also work with you to create the secondary email campaigns that will bring in the most revenue after the face to face selling is done. Expert: Michael Oertel.
#4. Online Directory Enhancements. A good online directory program is another secondary revenue stream waiting to be maximized. The directory is a storytelling device, enabling sponsors to highlight their accomplishments and humanize themselves with your audience. Again, you will want to work with someone who has the playbook for monetization after the normal sales window has closed. https://directory.phoenixmag.com/doctors, Expert: Caleb Anthony/Johnny Levy.
#5. Events. Events generate revenue through tickets and sponsorships. Top Lists and Awards lend themselves to events, great and small, that enable the community of awardees to meet each other and feel appreciated and engaged. Expert: Kristi Dougherty
DISPOSITION TO ACT
I am convinced that most of our problems are "who" problems, not "what" problems. The right person is the ultimate progress multiplier. I don't want you to just read this article for the information. I want this article to spur you towards action that leads to results. Connection is a form of catalytic action. The people I've listed here are excellent at what they do. Connect with them on LinkedIn. Set up a 30 minute phone call. If you regret it, I'll buy you something cool. You can't lose!