Wednesday, 26 November 2014

10 most popular ways to monetize your website

It’s not a myth that you can make money with your website. A lot of websites on the Internet are made for one simple reason – to generate income.
Whether you are trying to get rich or just looking for some funds to cover the hosting/domain expenses, here are some of the ways to do so.
Keep in mind that some of the ways are more or less passive while some other techniques require on-going work. Make sure you pick something that suits well with your website.

1) Affiliate Marketing

Affiliate marketing is a very popular way to make money through your website/blog. In short, you sell someone else’s product(s) on your website. When your website visitor clicks on your affiliate link and buys the product – you’ll receive commission.
The commission is usually 30% – 70% of the product or service price. So if you promote an e-book that costs £100, you’ll get £50 for referring the buyer (just an example).
Where can I find products to promote?
  • Commission junction
  • ShareASale
  • Clickbank (high payouts, but lack of GOOD products to promote)

2) Pay Per Click Advertising

Google has made a program called Google Adsense for publishers (bloggers, website owners) and advertisers (business owners, marketers, product owners).
This system is quite simple. You place a code on your website that will start displaying relevant ads to your website. For example, if your site is about pets (dogs & cats), Google Adsense will start showing your visitors ads for cat food, dog training and so on.
When someone clicks on the ad, you will receive money for this click. It’s usually £0.5p to £5 per click, but when your site has enough traffic – you can make hundreds if not thousands of dollars per month.
How to apply for for Google Adsense?

3) Selling Ad Space

As the name says, all you need to do is sell the ad space. You set up a price, let’s say: “Banner at the sidebar will cost £xxx per month”. You will get payed upfront and the price depends on your traffic. If your site gets ton loads of traffic from different sources, the banner ad price can go up as £3000 per month. However, if your site doesn’t have much traffic, don’t expect much.
Where can I let others know that my website is selling ad space?
  • BuySellAds – The most popular one
  • AdvertiseSpace

4) Sell your own digital product (ebook for example)

Selling your own product is awesome because there are no middle mans, no one is going to take the “cut” – it’s only YOU and the CLIENT. You sell directly through your website and you’ll get paid directly. While it looks quite simple, it’s actually not.
It takes a lot of time to create a good product that you can actually sell through your site. So make sure it’s well-made and polished before you throw it out on your webpage. In addition, a perfectly optimized landing page for the product is essential to higher your conversion rates.

5) Donation / Becoming a sponsor

Setting up donation buttons or simply asking additional funds from your readers is another way to monetize your website. It’s easy to set up, but you have to be aware that it’s not so easy to make money with it. Unless you find a sponsor(s) who pays a lot! However, before you throw up your donation buttons, make sure that your visitors will see why you need those donations(hosting expenses, new product creation, researching costs etc…).
How to set up donation buttons?

6) Accept sponsored posts & articles

Once your site is getting good amount of visitors monthly, you can offer sponsored posts and articles. There are a lot of advertisers who would be interested in writing sponsored posts for your website.
Another option is make money through reviewing something. Here’s an example: You have a website about Apple products -> marketer from Apple sees your site and contacts you.-> He/she offers you a free iPhone 5 if you make a comprehensive review and post it on your site for followers to read. This is an extreme case, but I’m sure you get the point…
Win=Win situation? Yep.
For further reading:

7) Generate “Leads” for other companies

Generating leads means you help other organisations or companies to make money. It can be a simple e-mail submit or telephone number, a lead is a lead.
Scenario: Let’s say you have a website about teaching and learning math. You can easily set up links to different schools and universities that offer people to learn math. When YOUR visitor submits their e-mail or a phone number to university for application – you’ll get paid.
It’s very similar to affiliate marketing, but your visitor doesn’t necessarily have to buy something. A short contact information is more than enough.
Where can I find such offers?
  • MaxBounty
  • Neverblue
  • Peerfly

8) Build an “Email List”

Building a “list” means that you gather your visitors emails. 90% of the websites that get some sort of traffic use that technique.
You’ll not make any quick money, but it’s definitely something long-term (and profitable). But make sure you first create relationships with your followers by simply offering great information and/or help for FREE. Spamming different offers through emails is never a good idea.
How exactly does it work?

9) Set up an online store

You don’t always have to create a website about something. You can just create a “tool” for your business – an online store.
Bricks and Mortar businesses are becoming more and more popular since the rise of the “Internet era”. If you have enough dedication to make it work, try it out.
How do I create a successful online store/shop?

10) Sell your site for someone else

I usually don’t suggest people to do that, but site flipping/selling is becoming a very lucrative business model. If you are into short-term projects and more into “quick buck” you can implement it as well.
… but you also have to know that your site has to either get a lot of traffic or generate money through different monetization methods.
The site value is usually based on the income. If your website is making £500 per/month through selling ad space, you can sell the site for £6000 – £11000 (12x – 22x monthly income).
Where can I sell my site?