How to Monetize a Website
More and more people are interested in finding ways to make money online.
Making money with a website or a blog isn’t something new, it has been going on for several years now and you could say that it’s becoming a saturated market.
But a website that truly adds value to its users will never be a failure.
As long as you have a solid marketing strategy and consistency in offering valuable content to your users, it will pay off.
Who wouldn’t love being able to work from home, doing something that you are genuinely interested in, while being able to make some money on the side?
Earning online is not a myth and an increasing amount of people is taking a swing at it as we speak.
Embarking on a new career of working and making money online is totally possible today.
It doesn’t matter if you are planning on getting rich, or making some money on the side; monetizing a site is a great way to accomplish it.
In this article, I would like to cover all the available ways to monetize a website or a blog.
Keep in mind that some methods require constant monitoring and hard work, while others are based on a more passive income basis. This doesn’t mean that the first ones will make more money and the second ones less.
After reading this guide, you will have a solid idea on how to monetize a website and be able to select the method that suits you and your work model best.
Adsense is probably the most famous method of making money online with a website. Adsense is a PPC (Pay Per Click) advertising method, which means that every time someone clicks an ad on your website you get some money in exchange – that simple.
After you register for an AdSense account, you receive ad codes that you can place anywhere on your website.
The users that visit your website see ads relevant to their search history and interests.
Note: I suggest you read their TOS and pay close attention to it because Google can just decline your application or ban you from Adsense at any time. Make sure to read and follow their rules.
Suitable for: PPC methods are usually suggested to websites that have high traffic – thousands unique users every day.
You depend on traffic volume, not quality.
That doesn’t mean that a website with low traffic shouldn’t use Adsense or PPC methods.
Not suitable for: websites with users who pay some kind of subscription (premium services, etc.). It’s possible that your users will be annoyed if they are paying a good amount of money and they are exposed to ads all over the website. So, think about it twice before using PPC ads.
If you must absolutely utilize them, keep them to a bare minimum. For example one ad per page in a subtle place.
#2 Affiliate Marketing
Affiliate marketing is one of the most popular and widely used methods. You promote products of a third party and if someone buys a product through your link, you get a commission.
In essence, you don’t sell anything on your website. You simply offer links that are custom made and once the user buys something, you get a slice of the pie.
The commission depends on each seller. Some sellers offer small commissions, other can offer up to 70% or 80%.
There are many websites there that function solely as “affiliate marketing” websites. Their purpose is to feature products and reviews of those products in order to make their users buy them.
Affiliate marketing is suitable for product – focused websites. These websites feature product reviews, as well as extensive information and ratings on each product.
It’s a very clever idea because people rarely want to do the market research themselves. it’s boring and it takes time.
A successful affiliate marketing website has already done the market research for the user. That way you can get all the info you need in one place and choose what to buy with minimum effort on your behalf.
Furthermore, affiliate marketing websites usually target a specific niche which suits the owner and isn’t over-saturated. That’s why you should do a careful niche research before going into affiliate marketing.
Hint #1: keep in mind that if you want to make a lot of money through affiliate marketing, objective reviews have to be “somewhat”in the favor of the seller’s product. By badmouthing a certain product or underlining its flaws, you will drive more potential customers away. That said you have to be objective as much as possible in order to establish your website as an authority resource in your niche.
Hint #2: most people use affiliate marketing networks as the ones I have listed below. Sometimes, when you have a specific niche, a direct relationship with a seller will be much more profitable. It will allow you for a higher profit and better products to promote. So, don’t be afraid to cold email a seller within your niche that you think his product is of value. Most likely they will be happy to offer you referral links for your website.
Affiliate marketing networks:
#3 Digital Products
Selling your own digital product is always a viable solution. You don’t have to take a commission or negotiate with anyone about your cut. You sell your own digital product directly on your website.
Ebooks are a great example of a successful digital product you can sell. Online courses is another product that is always in demand and people pay good money for quality content.
Keep in mind though that you have to work hard and create something of value for your customers otherwise you sales will drop to zero. Negative ratings and feedback will stop people from buying your product.
Hint: A landing page or a sales page is highly recommendable. You will convert much much higher with a well-written sales page. Hire a great copywriter and have him make you a proper sales page. It’s absolutely necessary in my opinion and the fee you will have paid him will be offset by the higher sales afterward.
#4 Email Lists
Email lists are for the long run.
Don’t think of it as a method of selling something on the spot.
It takes a lot of time and hard work to build a quality target email list. You have to be consistent and add true value to your subscribers otherwise, everything is lost.
Though email lists you can promote your followers your own digital products (see above) or even other products that you make a commission upon a sale.
Creating a close relationship with your audience is desirable and necessary in order to be able to promote content more than once.
You want people to come back and always check your new promotions.
In order to capture emails and create leads you need a good landing page and a popup optin form. Again make sure to hire a professional to make your landing page because you need it to be as convincing as possible.
Suitable for: blogs and websites that create valuable content consistently. It’s absolutely important to offer true value because that’s the only way to make people enter their email; they have to want more from you, they have to want to read your next blog post or article.
Hint: You can always sell the email list itself to buyers. If you have gathered a good amount of emails from a targeted audience you can sell the list for money to merchants of products and services within the niche (geographically targeted email lists work wonders).
Email Lists Services:
#5 Online Shop
Obviously creating an eCommerce store is the definition of “monetizing my website”.
If you have a brick and mortar store, then opening a digital one to sell your products is a great idea.
It isn’t necessary to be the owner of a physical store. If you can manufacture or buy products from a whole-seller, you can create an online store to sell them.
Where to start: Shopify
With Shopify, you can create an online shop within minutes. It is recommended for beginners and more advanced users. It offers you a full suite of tools in order to set up your own eCommerce website without the need to know any coding. Furthermore, you can set up your own facebook store and manage your promotion through social media.
The aforementioned methods are the most popular ways to monetize your website.