If your business’ ad inventory reads like an advertisement for Google, it may be time to rethink your strategies. Branching out and away from the ad giant may seem like a backward move, but in reality, it can be a great way to get more bang for your current web traffic.
But don’t just take our word for it. Kean Graham and his team are out to help businesses rethink advertising strategies to increase revenue exponentially.
Kean Graham, CEO of MonetizeMore, started out with a simple goal; use digital strategies to help businesses make more money. Now, MonetizeMore is an 8-figure ad tech company that is a Google Certified Partner. While Graham started the company as a one-man operation, it now has over 100 full-time team members remotely based across the planet. They work hard to help businesses rethink their advertising strategies to branch out and get more from their traffic, and ultimately, increase revenues.
What pain points did you realize in the market that made you start MonetizeMore?
When I started MonetizeMore, my ultimate goal was to increase revenues measurably for businesses through digital means. I knew that this could have been done via SEO, social media management, UI/UX, CRO, ad optimization and/or many other ways. So I started by improving my skills for each and then decided to use my old employer as a case study to see what I could do.
I first looked at their revenues and realized the majority of them come from Google AdSense. Google had a monopoly over their ad inventory. Then it hit me; all I have to do is increase the demand for their ad inventory and the price for each ad impression would go up. It was simple economics; supply stays the same and demand goes up. When this is applied to hundreds of millions of ad impressions per month, that can lead to huge ad revenue increases.
This was a pain point my old employer had, that they didn’t realize yet. I offered them a no-risk contract where I would only charge a percentage of the increased ad revenues. They willfully accepted and I was able to pioneer the model that we still use at MonetizeMore today. Over many months of ad optimization, I was able to increase their ad revenues by millions!
What were your main focuses when starting the business?
To increase revenues measurably for businesses via digital means. I was lucky enough to uncover a great opportunity with ad optimization in my first contract so I stuck with that.
What were some of the main hurdles is starting your business?
When I started the business, it was at once challenging and exciting. I was able to break even by my fifth month. The biggest lesson I learned from my first client was to not communicate with the company in terms of 'where we are,’ but instead in terms of 'where we're going.’
If I were to do it again, I would have advertised my company to clients as larger than just me so that they looked at my company as a company rather than a single previous employee. Then I would have been able to avoid issues with clients thinking that I was earning "too much commission.” It was tough to deal with this situation because it was the first time I experienced this level of business injustice.
However, I sucked it up. I accepted that I could have avoided the situation from the start and decided to learn from the experience rather than reacting. Instead of worrying, I made the best of the situation. I negotiated a commission structure that would earn me half of what I was earning at the time. However, I still had upside potential. So I worked hard and optimized creatively and was able to increase their ad revenues to levels where my company commissions were back to where they were before the re-negotiation.
Who are your typical customers? How were you able to gain your target market’s awareness and move them into trying your product?
Our primary customers are ad monetized publishers that get at least 20M page views per month. They tend to have nimble teams that are hungry to grow.
We are a market leader in our industry for content marketing. When a publisher searches anything related to ad optimization, one of our blog posts tends to rank well. The blog post answers their queries and presents MonetizeMore as an authority. As a result, some of the publishers decide to sign-up for one of our offerings.
What are the typical benefits your clients receive?
We see our clients receiving a variety of benefits as a result of our services. They included benefits like:
- Increased ad revenues
- Fully managed ad inventory so publishers can focus on what they do best
- Platform with automated stats from each of their revenue sources
- Ad revenue attribution
- Decreased malvertising
- Support from across the globe to cover most time zones
- Tools to diagnose ad operation issues
What would you recommend to someone just starting their B2B or B2C business?
When it comes to choosing which type of business to start, I would say that both have their pros and cons. B2B is hard to start because you need that first success story to really get rolling. B2C is easier to start with thanks to huge marketplaces like Amazon, Etsy, eBay, and Alibaba. However, you need to consistently sell to maintain and/or grow revenues. With B2B businesses, you can maintain or even grow revenues by keeping clients happy and adding more value over time.
MonetizeMore was first started as a simple idea conceived in the mountains of Machu Picchu. Now, it has grown to $17 million in revenues. Graham has traveled to over 80 countries during the 8 years that he has been growing MonetizeMore, proving that with the right strategies, organization, and a unique service to offer to clients, the sky is the limit in terms of growth.
MonetizeMore was founded in January, 2010 in Victoria, BC, Canada by Kean Graham. MonetizeMore began with the mission to realize the elusive opportunity on behalf of publishers: ad monetization. Many large publishers monetize their free content by simply placing Google AdSense ads directly on page. After that, you’re done right? Now to focus on the important aspects like building unique quality content, nurturing a community, SEO, direct sales and building new tech features. Out of all the aspects that were just mentioned, ad optimization tends to be the lowest hanging fruit in terms of immediate and sustained profit growth. MonetizeMore was able to prove this with the first publisher partner and many more success stories since.
Topics: Disrupting B2B