Website owners have many options for making money online. This guide outlines the top 11 ways to monetize a website.
Earning income online sounds extremely difficult – and, no doubt, it can be tedious work. But if you hit the right niche and have a smart marketing and monetization strategy, it’s a satisfying way to earn a living. It’s also a chance for you to make money from something you’re passionate about.
But if you’re not careful, you’ll spend a lot of time and money on an online business model that doesn’t work. So before you even secure a domain name, you need to establish a solid plan to become profitable. And the first step you need to take is to decide how you are going to make money.
You will find many different ways to make a profit online. If you want to make money, these 11 methods are the best ways to do it.
11 ways to make money with your website:
- Affiliate Marketing
- Pay per click (PPC)
- To sell products
- Sales services
- Sponsored Posts
- Quality content
- Build email/phone lists
- Webinar Hosting
- Sell your website
Selling advertising space is the traditional way to make money online, and although it has given way to more creative ways to monetize websites, it remains a common profit-making tactic.
And you don’t necessarily need millions of page views per month to make a decent amount of money this way – if your company website caters to a small but highly targeted niche audience, you can sell advertising space to businesses that want to reach these people.
For example, if you write a blog about servicing Japanese-made motorcycles and have a loyal readership, you can sell ad space to, say, companies that sell parts for those types of motorcycles.
Concrete example : Newspaper websites generally rely heavily on the sale of advertising space. If you visit USA Today’s website, you’ll see a mix of static and video ads for everything from drugs to fantasy sports, reflecting the wide demographic of their audience.
2. Affiliate Marketing
Affiliate marketing and affiliate links are an increasingly popular form of monetization for websites and blogs. In this system, you would choose an affiliate program – Amazon is a common choice – and generate an affiliate link that you post on your website to recommend to your audience.
If one of your readers clicks on the link and buys the product, you earn a commission for that sale. This commission can be substantial, ranging from 1 to 10%.
Concrete example : Wirecutter reviews consumer electronics and goods, and offers affiliate links everywhere. The site aims to help people find the best consumer products. As a result, customers trust their recommendations and buy through their links, earning the site a commission.
3. Pay Per Click (PPC)
Pay per click has exploded in popularity in recent years thanks mainly to Google but also to other search engines. PPC allows advertisers to reach a more targeted audience by placing their ads in search engines for specific keywords.
Google’s Adsense program allows websites to serve ads placed with the search engine on their own website, also generating revenue. Google gives you a code you can embed into the website that identifies the content you have and starts serving targeted ads.
Concrete example : You don’t have to look far to find websites running Google Adsense ads. Typically, you’ll most often find them in blogs that talk about consumer products.
4. Sell products
Selling products is a traditional way to make money online. You have products for your customers and you use your site to promote, organize and sell them to visitors. According to this model, you would use a integrated marketing strategy this may include PPC advertising or email marketing to attract visitors, who browse your products and make purchases.
Concrete example : Amazon is probably the best-known example of an online-only business using a website to sell products.
5. Sale of services
Selling services is another common way to make money online. It’s similar to selling products, with a few key differences. Unlike selling products, once you ship a product to the customer, that transaction is complete. But when you sell services, you sell an ongoing relationship on the Internet. As with selling products, this requires an integrated approach business marketing strategy.
6. Sponsored Content
If you have consistency website traffic, you can sell sponsored content opportunities. In a sponsored post, an advertiser writes a somewhat informative but mostly promotional article. It takes the format of standard content, but has a clear promotional tone.
You should let your readers know that this is sponsored content, usually with a simple “Sponsored Content” header above the title. Good website management will protect you against sponsored content that overwhelms your original content.
Concrete example : BuzzFeed usually features promoted posts tucked away in their regular content. As is common practice, they clearly mark the article as sponsored content so as not to mislead their readers.
7. Premium Content
If your website has a voracious fan base that is looking for more content, put some of it behind a paywall. Keep streaming free content regularly, but save your best stuff for a premium subscription.
This allows a website to avoid the clutter of sponsored posts and advertisements, which also gives the site a quality feel that makes it worth subscribing to. Use a content management system to keep separate streams of free and premium content.
Concrete example : Patreon is a platform that allows artists and content creators to sell premium memberships. For example, a popular podcast might offer two shows per week, one free and one for premium subscribers.
8. Create email/phone lists
Many websites make long lists of names with contact information such as email addresses and phone numbers. They then turn around and sell these listings to third parties so they can market their own products.
The price of an email or phone list will vary greatly and depend on the industry you cover or the quality of the leads, but a strong list can sell for hundreds of dollars per thousand emails. emails. A lower quality list can cost around $10 to $20 per thousand records.
Concrete example : NextMark is a company that offers tens of thousands of listings that you can purchase. The lists cover a number of industries and can be broken down by whether you only want phone numbers or email addresses.
9. Webinar Hosting
Webinars have become an increasingly common method of connecting with an audience. Your website can host a free webinar that promotes a product, a webinar that can be placed behind a paywall, or a webinar that is simply for brand development Where brand positioning.
A webinar series can be repackaged as a video tutorial that can be sold on the website. Webinars are a great way to sell knowledge or promote products with limited overhead.
Concrete example : Wells Fargo offers a series of webinars aimed at educating their customers on financial basics, while promoting their banking products.
A less common, but by no means uncommon, method of monetization is to ask your audience directly for donations. This is a more common strategy for non-profit websites, as it relies on charity from their readership. Typically, this strategy involves marketing yourself as someone worth investing in, or emphasizing the importance of the service you provide that makes the site worthy of donations.
Concrete example : Wikipedia is probably the best-known example of a site run entirely by donations. The site eschews advertising altogether, instead relying on the generosity of the millions of people who use the site every day.
11. Sell your website
If you’ve gradually built a strong audience and brand with your website, it might be time to sell it to someone who wants to take the reins. The downside is that you lose a steady stream of income, but the upside is that you get a big lump sum payment and no longer have to deal with the daily headaches of running an online business. .
Concrete example : If you want to get an idea of the upper limit for selling an entirely website-based business, LinkedIn was sold to Microsoft for $26.2 billion in 2016. That’s probably a bit more than that at what you will sell your website, but it shows that website based businesses can be very useful.
Software will make it easier for you to make money with your website
A website is a great way to make money from home, and more tools are available today than ever before for an online startup business looking to get established. The Ascent reviewed dozens of best software options in various fields, from Customer service at e-commerce at marketing automation.
Check out some of the reviews in areas where you need the most help in your business and try out some of the software options to see if any are right for your business. You will be amazed at how much better your business can run.