Some people create websites for learning and to experiment with programming and codes. But several entrepreneurs decide to monetize their websites.
Some believe that you should earn from what you’re good at. And if you enjoy what you do enough to have a website, why not monetize it?
With the advancement of technology, there came several ways to make money out of your specialty. If you love writing, you can sell both physical books and audiobooks of your stories.
If you’re passionate about being a speaker, you can publish content and videos about it online. Some of that content can be viewed only by those with a paid subscription to your website.
Web monetization is how you convert traffic in one website into revenue, usually through Pay-Per-Click (PPC) and Cost-Per-Impression (CPI).
Ad networks would reach out to a webmaster about placing advertisements on their website. And they can earn money by lending ad space to those networks.
Your creativity is the limit when it comes to anything on the internet, and that’s true when you’re monetizing. So let’s talk about the different and excellent ways that you can monetize your website below!
Different Excellent Ways to Monetize a Website
1. Try Experimenting with Affiliate Marketing
Simply put, affiliate marketing happens when an online retailer pays a commission to an external website. This is done to generate traffic or sales through referrals. So as an affiliate marketer, you earn commissions from each referral you make to another business.
For example, if you’re part of one affiliate program, you’ll get revenue share based on certain conditions. One of those could be based on each person who clicks your affiliate link and sets up a paid account.
Meanwhile, book bloggers can earn extra cash if a reader buys a book through the blog’s affiliate links. Fashion bloggers receive a percentage of the sale if you buy apparel they recommended. Those examples paint a clear picture of how you can monetize with affiliate marketing.
But to get there, you need to follow some steps that you can learn from consulting professionals. Professional advice can take you a long way in achieving your goals to gain revenue.
They ought to have built web technologies and specialties over the years. It’s like they already have a whole resume of everything you need to monetize your website. And Advally is one of those professionals we described, making them specialized for online marketing.
They have been working with selling advertisements on digital properties for over a decade. They’re an ad revenue optimization platform that works on mobile, desktop, connected TV, and more.
2. Create and Sell Your Product
If you don’t have the time to continuously create content, selling a digital product is an excellent strategy. You can create a product and promote it to your audience and new readers.
Meanwhile, physical product sales need more attention because of inventory management and shipping. There are also customer service and marketing to consider among your tasks.
The good news is that inventory and shipping can be delegated to a third-party provider. This leaves you to focus on more important tasks, like customer service and marketing.
The most common products sold are ebooks, audiobooks, and software. Those three digital products are easier to manage because there’s no inventory or shipping to take care of. Almost everything is automated and all you need is to provide minimal customer service.
You can also try launching an e-course to turn your expertise into a product and earn recurring income. Think of it like sharing with others the life and learning you’ve come to love. E-learning is also becoming more popular since the pandemic so you’ll hardly be short on students.
3. You can Start a Paid Membership
You can set up a private thematic area on your website filled with extra value to justify its price. A paid membership shows exclusivity and special treatment towards paying clients. They get to enjoy functions available only to them on your website.
The most popular membership sites have paid communities, education buffets, and accountability groups. Paid communities include private forums and discussion boards. They also have member directories and you can offer them special discounts among others.
Education buffets sell access to a variety of courses, webinars, and podcast bundles. They’re all educational resources that showcase your expertise.
Meanwhile, an accountability group organizes coaching and mastermind sessions. This is usually done with a small group of students to maintain quality.
4. Publish Sponsored Content
Sponsored content is the result of your collaboration with other brands—your role is the publisher. Whether it’s a blog or website, sponsored content is a lucrative channel to have. Companies and businesses pay you to make content and publish it for them on your site.
The content you publish comes in many forms, like products, offers, infographics, and reviews. They can be written by your or your sponsoring partner brand. If you’ll be writing and publishing, you can charge them a higher rate.
What you need to consider when creating sponsored content are your online influence and monthly sponsored posts. How many are you expected to write in a month and how much time will you spend on each?
And which holds more value between your blogging brand and the sponsored content? There are days when you’ll be forced to choose and make big decisions in this regard.
5. Use Pay-Per-Click Advertising with Adsense
Pay-Per-Click (PPC) is an advertising model that allows website owners to earn passive income. This happens when a reader clicks on an advertisement banner.
You set a maximum bid on it which refers to the highest amount you’re willing to pay per click. While you do pay as well for each click on your ad, the charge is less than what you earn.
Adsense is a popular tool used to achieve optimal PPC. Over 38 million websites all over the world use Adsense for monetization. It doesn’t require much to set up and you can efficiently place ads on your blog or website.
There are several customer forums and tutorials that can help you get started with it. But before you dive into it, make sure to read their terms and conditions so your website meets the criteria.
It’s not an easy decision and it takes commitment to monetize a website. There are many ways to do it, however, so it may work in your favor to try them out.
You can experiment with affiliate marketing to see if you can make the most out of your time referring people. You can also create and sell your products, especially digital ones. Digital products are easy to manage and can serve as a passive source of income if you’re busy.
Your website can have a paid membership feature or publish sponsored content as well. Paid membership involves a lot of creativity to incentivize customers.
Publishing sponsored content also requires that you churn out content monthly. Each method requires a level of commitment so you need to choose wisely and plan accordingly.