Generating Revenue in Publishing with StorifyMe Formats

One of, if not the biggest obstacle of a publisher is figuring out how to yield revenue. On the surface level, the problem itself seems fairly simple. Publish interesting content, garner attention from the online audience, and use one of many ways to monetize that attention. Meanwhile, in practice, this surface level analysis doesn't do you much good. Getting the viewer's attention and finding the right way to monetize it is neither easy nor simple. So, let's take a moment to outline the common difficulties that publishers face and how you can use Shorts and Ads for publishing revenue.

The difficulties of generating revenue in publishing

It has arguably never been harder to generate revenue as a publisher. Even though we seem to view and consume content on a never-before-seen basis, it has never been more difficult to find ways to capture the viewer's attention. And, even if you do, it is also difficult to opt for the right monetization strategy. So, all in all, publishers have a lot to contend with.

Competition

While before publishers only had to compete with other publishers, today this is no longer the case. The internet has lowered the barrier to entry for publishing, leading to a saturated market with intense competition for audience attention and advertising dollars. As such it is increasingly difficult to have your voice heard among all the others. And it is even more difficult to have people pay for your content, seeing that there is likely a free, although less expensive version for them to consider.

Content quality

It has been long established that the only way for publishers to get a decent audience is to focus on content quality. After all, in the era of information overload, maintaining high-quality content that stands out from the crowd is essential. It is the only way to provide a clear-cut reason why your content is worth paying for. Of course, high-quality content is never easy to create. Even more so, when you need to follow a publishing schedule that will meet the content needs of your audience.

To meet their demands publishers need to utilize AI, hire top-notch workers, and double-check their sources. They need to ensure that their information is interesting, true, well put and that it resonates properly with their audience. This last part is crucial, as few publishers can hope to cater to every individual. In practice, publishers need to personalize their content for specific demographics. And they need to actively work on personalization if their content is to stay relevant.

Monetization

Finding the right mix of monetization strategies is crucial for an aspiring publisher. Even if you create top-notch content, and you have a decent understanding of your audience, you will fail if you don't adopt the right monetization policy. You might feel that you can simply put ads within your content and yield revenue from that. But, relying solely on advertising may not be sufficient. In order to get enough to keep the ball rolling, publishers often need to diversify revenue streams through subscriptions, sponsored content, events, and merchandise.

Platform dependence

As a publisher, you are likely to rely heavily on platforms like Facebook, Google, and Twitter for traffic and distribution. Once you get to know them, they can be relatively easy to manage. However, changes in algorithms or policies by these platforms can significantly impact reach and revenue. A substantial number of publishers have had their revenue halved simply due to a new policy. This is why, while tackling these platforms is a necessity, it will never be a done task.

Data regulations

Publishers tend to rely heavily on data whether it is gathering data to better respond to their audience. Or using third-party data to better outline who they are trying to reach. Unfortunately, increasing concerns about data privacy and regulations like GDPR and CCPA have restricted the ways publishers can collect and use user data for targeted advertising, affecting ad revenues. While this has helped users avoid spam content and unwanted data sharing, it has obstructed publishers in revenue generation.

IT advancements

Lastly, it is important to say that publishers are always affected by technological advancements. Especially in the IT sector. Things like device availability, internet speed, internet stability, AI... All of them heavily impact which content you can use, how you can show it, and how best to optimize it. This often requires investment in infrastructure and skills development as publishers need to be able to keep up with technological advancements. But, it also means building your brand so that you can make easy alterations in the future.

Using Storytelling for revenue generation

So, there are a lot of problems that one has to face. Especially when looked through the lens of publishing revenue generation. Fortunately, there are viable solutions you can utilize. What's important is that you have a decent understanding of your brand and that you have a way of determining what resonates with your audience.

In our view, one of the best strategies to adopt in the current marketing landscape is marketing storytelling. While not an all-in-one solution for publishers, it does cover some of the major issues that you are likely to face. So, let's now outline what makes revenue generation through storytelling a surprisingly effective option for publishers.

Improving content quality through Storytelling

Whether or not you have high-quality content isn't solely based on what images you use or how well you phrase your sentences. In essence, your primary goal shouldn't be to create high-quality, but highly-engaging content. The difference is that high-quality content might, or might not resonate with your audience. Highly engaging content will.

In this regard, storytelling can be a great solution. After all, marketing storytelling isn't a new type of content or an expensive add-on. What it is is a method of content presentation. Instead of outlining everything all at once, you pace your content (make a story out of it). With a clear introduction to capture the viewer's attention, a middle for outlining what the content is about, and an end to keep them interested, you will have a far easier time engaging your viewers.

Stories, by design, tend to impact us emotionally. In literature, this is what helps stories become art. In marketing, this is what helps stories lead to higher engagement rates. Compelling narratives help publishers stand out in a crowded content landscape by offering a unique feel and memorable experiences. And it is not uncommon for story-driven content to foster a deeper connection with readers. By doing so, they enhance loyalty and encourage repeat visits.

Content monetization

It should be obvious enough that if story content brings and keeps an audience, it will be easier to monetize. After all, engaging stories attract larger audiences, providing publishers with more opportunities to monetize through advertising, sponsorships, and partnerships.

If you need to introduce a subscription model, you might find storytelling the easiest way to ease your audience into it. As a rule, audiences are reluctant to pay subscriptions. As such, it is important that you outline what subscription brings them, and why it is important that you make money through it. If you explain the various pros and cons of revenue generation through storytelling you will:

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• Help people understand the necessity of monetization and why subscription may be the best option.
• Have people further engage with your brand.
• Garner more attention to your brand as a whole.

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Another option is to leverage storytelling to promote merchandise related to your content thus creating another revenue stream.

Dependence on Google, Facebook, and Twitter

As a publisher, it is in your best interest to have your own platform. Yes, you will have to depend on Google, Facebook, and Twitter to some degree. But, you should always look to create a website and ideally an app, and then publish your content through it. Having your platforms provides you with the extra degree of control necessary for native advertising in publishing. Furthermore, it detaches you from the constraints that platforms like Facebook and Twitter put in place.

While there are numerous ways in which storytelling and web stories can help you build your platform, it is best to first consider them as bridges. Namely, through storytelling it is quite easy and natural to bridge different platforms. If you wish to take the audience from Facebook to your website, it is quite easy to do so through a story. Similar to Twitter and Google. The better you get at creating story content, the more you will see how easy it can be to guide the viewer's attention.

Data regulations

Gathering viers data can be difficult for two reasons. Firstly, they either don't understand why they ought to provide you with their data. Secondly, they don't trust that you will keep it safe. Luckily, both these issues can be addressed through careful marketing storytelling.

Publishers can easily use story content to address the audience's concerns related to data privacy regulations. It is important to show honesty and transparency through your stories, as to fortify the viewer's trust. It is important to outline the reasons for gathering customer data in a digestible way. Once you set this up, you'll be able to collect first-party data directly from your audience, enabling more personalized and compliant marketing efforts.

IT Advancements

The only way to tackle IT advancements is to have content that is easily adaptable. Fortunately, through StorifyMe, it is fairly easy to create Shorts and Ads for publishing revenue and alter them as needed. Whether you need to improve the quality of previous content or add new features, StorifyMe has you covered. Keep in mind that we closely follow the advancements in technology, especially when it comes to AI and marketing. As such, we help our users create immersive storytelling experiences, such as interactive narratives or augmented reality content.

Final thoughts

In summary, marketing storytelling can help publishers design a strategic approach to the key challenges of modern publishing. Of course, as we said, marketing storytelling isn't the panacea for your troubles. What it can do is help you create high-quality content that engages audiences, diversify revenue streams and not rely solely on Shorts and Ads for publishing revenue, reduce dependence on third-party platforms, comply with data regulations, and leverage technological advancements, to a certain degree. You still need to do your own research and figure out how Shorts and web stories (and StorifyMe with them) fit into your online presence.

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