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Many people generate money through their own website or blog. You can also be one of those people and turn your hobby website or blog into a source of income or even a full time business. You need to know that running a website requires money. By using these methods you can at least make money to cover the expenses of your website at the beginning. Once your website starts growing you can be making huge profits depending on your niche and how much time you put into it. Once you make enough money through your website you can quit your current job and start spending more time on your website. Some of the following Website monetization methods below are quite simple and some of them require hard work. Hence, we have decided to sort them in order of difficulty to help you start with the easiest technique to run the money-making engine of your website. Thanks to WordPress and various plugins available, it is no longer difficult to create your own website if you don’t have one yet.
Common Methods of Making Money with Your Website
You shouldn’t underestimate making money from your website, and don’t consider it an easy task. Here are some tips that are the best bets to help you start making money through your website.
1. Affiliate Marketing
It is considered one of the most common ways of website monetization. You need to select a product that you wish to recommend it to others. Then, you promote the product on your website and start marketing it to your visitors. If the goods or service appeals to them, they will click on your affiliate link and purchase it (while you get a pre-defined percentage of the price). The commission might be anything from 30% to 70% of the product or service price. For example, if the split is 50% and you advertise a $100 e-book, you will receive $50 only for introducing the customer.
One of the most popular affiliate programs is from Amazon. It is called Amazon Associates and many website use this as their main method of website monetization. Although the commissions are relatively low the potential for making money is really high, since Amazon is huge. You also have a choice to advertise from thousands of different items depending on your niche.
2. Pay-Per-Click (PPC)
The ads that appear at the top of Google search result pages are known as AdWords.
AdSense works in the other direction, allowing publishers to connect to Google’s massive advertising network to allow other marketers to place adverts on their website.
The nicest thing about this system is how easy it is to use.
Google will put a simple code on your website once you sign up that will recognize the content of your site and begin delivering relevant ads. If your site is about dogs, for example, Google AdSense will begin presenting advertisements for dog food, dog training, and other pet-related products to your visitors. You are going to earn money for each click of the visitors. Your commission might range from $0.50 to $5 for each click.
3. Selling Place for Ads on Your Website
As mentioned one option to generate money from internet advertising is to use Google’s AdSense on your website. Another website monetization option which is somewhat similar is to just offer your own “ad space” to firms interested in sponsoring various blogs. You may set a price for each location. You may get compensated based on the number of visitors you receive. If you charge $5 per 1000 views and your website receives 100,000 per month, your ad will cost $500. The benefit of this strategy is that if your site receives a lot of traffic from various sources, your basic banner ad cost can reach $5000 per month! The apparent disadvantage is that you can’t expect to make much money if your site doesn’t receive a lot of visitors.
4. Sell Digital Products (like Ebooks, courses, design assets…)
When you sell your own digital products directly, you have the best chance of making the most money per transaction. This method appears to be pretty simple because you can sell these items directly through your website and receive quick payment. In fact, it is not that easy. Creating high-quality, well-made, and polished items takes a significant amount of time and additional resources. When you sell your own items on your website, you’ll have to deal with difficulties like payment gateways, shipping, and taxes. So, you need to consider all these before attempting to try this method.
One work around is to use platforms that allow you to upload your digital product on to them. These platform have all the tools ready. Once you upload your products on to these platform place a link on your website so your website visitors can follow the link and buy the product.
5. Sell Sponsored Posts
Increasing the number of visitors to your website is one approach to generate money from it. There are a few different methods to website monetization once you’ve done the hard work of creating regular traffic to your site with an engaged audience. Many businesses, for example, seek sites that will contain their sponsored material. This type of native advertising works effectively since it aligns with your site’s core content and appears relevant and transparent. When done correctly, this can result in a win-win situation. However, if done incorrectly, with outdated or unauthentic content, it may destroy all of the reader goodwill you’ve worked so hard to earn.
6. Create an eCommerce Site
Content isn’t the only thing that may be found on a website. They might be based on online store tools or items. Hundreds of thousands of eCommerce websites or online stores are available. To stand out from the crowd, make sure yours fills a distinct niche, has a comprehensive plan, and uses the most up-to-date marketing tactics. There are many successful E-commerce website which are run by one or a very small group of people.
7. Lead Generation for Others
New leads coming in the door to ask about their products or services are extremely beneficial to businesses. It’s no wonder that they’re always on the hunt for innovative ways to generate leads that will help them expand.
Assume you own a website dedicated to teaching math skills. Different online schools trying to offer their courses to enthusiastic, proactive students will benefit greatly from the information provided by your readers.
Essentially, you’re tying the pieces together by introducing two parties who can benefit one another. While it works in a similar way to affiliate marketing, in this situation it doesn’t matter if your reader buys their goods or not.
8. Monetize your Expertise
You can generate money on your website by giving advice and consultation on a specific topic. For example if you are a tax advisor you can publish articles related to tax clarification and charge for people who register for private discussions with you on your website. This method can be done with any other expertise that you may have.
These were a list of some of the most common website monetization methods. These strategies are simple to implement, and if done correctly, they can help you earn a decent living. So, don’t waste your time and start using the ones you’re skilled at.
Recommended Book On The Topic
If you are looking for books to read deeper into the topic, the following book is a best seller books on Amazon about how to start monetizing your blog or website.