This is what has lead to huge drops in traffic for certain sectors, and just as large drops in ad rates. So, for some websites, not only did they see large drops in traffic, but the remaining traffic they had was worth nowhere near as much, in terms of monetizing it with ads.
Now, let’s be honest. Nobody saw this pandemic coming. A lot of us were not prepared for what was about to happen and what is potentially going to continue to happen (with a second spike looking very likely for Europe in the last remaining months of 2020. What we can do, though, is learn from our mistakes, and come back stronger, so we can mitigate the risk of any future changes in market behavior, and look to capitalize, whatever the world throws at you. Here are some ways you can do this.
Diversify Your Revenue Stream
The first that has become apparent is just how much of an impact a drop in advertising demand can affect revenue. On my websites, I saw drops of over 100% and I am sure other websites were in similar situations too. This was because many of the markets that couldn’t operate in lockdown, such as travel, holidays, hospitality etc. simply paused or canceled their ad campaigns. As well as this, the first area of a business that usually gets cut when things are ‘tight’ is in marketing.
For this reason, it is a…