Re-thinking the monetization of our photo website / blog.
Hi, I´ve invested in a photography website within a very specific niche that drives high quality traffic, and converts awesomely. You´ll find a brief explanation below. Any comments, tips, hints and suggestions are most certainly welcome, and much appreciated!
Quick overview:
- Website age: 2 years.
- Monthly unique visitors: 100.000 + (Nearly doubles during holiday times)
- Monetization: Bannerspace. Adsense. Affiliate marketing. Sponsored posts.
- High bounce rate, Medium pageview pr visitor, and medium time spent pr. visitor.
- User generated content.
Many of the regular contributors + random visitors are asking two KEY questions.
#1. Do you buy images?
#2. Do you sell images?
I want to expand this business by re-launching the website in order to satisfy a need that has been growing amongst the website clients from all over the world. As the content is user generated, the backlog is.. huuuge, in a good way. Content won´t ever be a problem.
To be done in Jan. 2015
- Make website mobile friendly to counter the high bounce rate due to 72% of traffic deriving from mobile devices since Jan 1st, 2014.
- Pay user pr. approved contribution.
- Make a copyright agreement between contributor and website, granting website a royalty free license in exchange for a one-time fee.
- Create a copyright license that allows website to re-sell images and provide users with a royalty free license.
- Implement watermarking of images to prevent misuse and fraud.
Key takeaway points.
Questions:
- What quality do I want when buying images? Format. Resolution. Size?
- Watermarking technology. How, what, and where?
- Asking price for images. Suggested retail price (incl. tax/VAT) €1. (One day of paid downloads will cover all expenses. Rest of month is pure profit.
- What kind of licenses do I need to implement in order to pay contributors, and have the right to re-sell images with a royalty free license?
- Payment solutions? Any suggestions?
- Automated content and license delivery. How?
These are the questions we have on our desk at the moment. Our team is quite inexperienced with internet marketing and monetization of the blog, but we will invest where we see fit and hire people with relevant experience for different tasks at hand as we wish to continue growth and expansion.
Thank you for your time.
Quick overview:
- Website age: 2 years.
- Monthly unique visitors: 100.000 + (Nearly doubles during holiday times)
- Monetization: Bannerspace. Adsense. Affiliate marketing. Sponsored posts.
- High bounce rate, Medium pageview pr visitor, and medium time spent pr. visitor.
- User generated content.
Many of the regular contributors + random visitors are asking two KEY questions.
#1. Do you buy images?
#2. Do you sell images?
I want to expand this business by re-launching the website in order to satisfy a need that has been growing amongst the website clients from all over the world. As the content is user generated, the backlog is.. huuuge, in a good way. Content won´t ever be a problem.
To be done in Jan. 2015
- Make website mobile friendly to counter the high bounce rate due to 72% of traffic deriving from mobile devices since Jan 1st, 2014.
- Pay user pr. approved contribution.
- Make a copyright agreement between contributor and website, granting website a royalty free license in exchange for a one-time fee.
- Create a copyright license that allows website to re-sell images and provide users with a royalty free license.
- Implement watermarking of images to prevent misuse and fraud.
Key takeaway points.
- Paid user generated content.
- License between contributor and website
- License between website and buyer
- €1 pricetag pr image.
Questions:
- What quality do I want when buying images? Format. Resolution. Size?
- Watermarking technology. How, what, and where?
- Asking price for images. Suggested retail price (incl. tax/VAT) €1. (One day of paid downloads will cover all expenses. Rest of month is pure profit.
- What kind of licenses do I need to implement in order to pay contributors, and have the right to re-sell images with a royalty free license?
- Payment solutions? Any suggestions?
- Automated content and license delivery. How?
These are the questions we have on our desk at the moment. Our team is quite inexperienced with internet marketing and monetization of the blog, but we will invest where we see fit and hire people with relevant experience for different tasks at hand as we wish to continue growth and expansion.
Thank you for your time.