It is an open secret that people make money through their websites. And the exciting thing is, you don’t necessarily have to be a digital marketing expert or an internet guru to be successful. It is do-able, and anyone can be a winner.
There are several ways of making money online. You only have to identify what will work for you, and then put in some effort.
According to some marketing experts, the best way to make money on your website is by creating and promoting your product and service. To figure out what product to promote, you have to consider what your audience needs. And sometimes it may be something of personal passions or a marketable hobby/talent.
Keep in mind that the various ways of monetizing website range from easy, passive, and to those that require lots of unending hard work. Remember, nothing good comes easy, and there’s no success without hard work.
Below are some unexpected ways your website could be making more money online
Affiliate marketing is one of the most popular ways people make money through their websites. You can earn additional income from just promoting other people’s products on your website. It is one of the fastest and easiest ways of making money via the website.
As an affiliate, you begin by sourcing for products you like, and then you endorse and promote it to your website users and email subscribers. You earn a commission on every purchase people make through your affiliate link.
The commission can be between the range of 30% to 70% of the price of the product or service. For example, if you promote an audio-book that cost $200 at 50% commission, you will earn $100 for simply referring the buyer.
Pay per Click (PPC) is a digital advertising concept in which website owners get paid each time their website users clicks on online ads.
Ad sense enables website owners and bloggers to access Google’s advertising network so that advertisers can run ads on their website.
Once you sign up on Google Ad-sense, a code will be placed on your website. It is this code that Google uses to recognize the content of your website and through it display relevant adverts.
For example, if the content of your site is about automobile, Google Ad-sense will start showing your audience ads from the likes Toyota, Mercedes Benz, Nissan, etc.
You get paid each time your visitors click on the ads. In PPC advertising, advertisers are charged only when someone clicks on their ad. And for each click, you might earn anywhere from $0.05 up to $5. If your website is generating enough traffic, you can make thousands of dollars every month.
This is another highly effective digital marketing strategy that can fetch you money through your website. It involves building an email list and sending emails to prospect and customers.
The main objective of email marketing is to convert prospects into buyers and turn one-time buyers into loyal customers. Email list makes it easy to convert strangers who are visiting your site for the first time into fervent followers.
Email marketing can fetch you money in different ways. You can earn money by direct email promotions, by driving traffic back to your site, or by delivering free reports that are monetized. One email can earn you thousands.
Other benefits of email marketing include building a solid brand and helping readers to visit your website repeatedly. With email marketing, it is no longer difficult getting people to subscribe to your website. It can work on autopilot if you set up an auto-responder.
However, this won’t make you become rich overnight because it is a long term strategy. It will take a while to grow your website into a complete, money-making venture profitably. While it’s growing, ensure you maintain a good relationship with your subscribers. Offer them free help and share great information with them.
Avoid spamming, because it will lead to distrust from your subscribers, and this is detrimental to your long term goals.
Selling ad space is an excellent way of using your site traffic to make money. This is quite different from setting up Google Ad-sense, as discussed earlier. In this case, you sell your own ad space directly to companies that want to promote their businesses.
You can get paid for selling ad space in three different ways. The first option, which is the easiest, is to join a banner ad network. The network will be responsible for recruiting advertisers, control ad placement on your site, and keep track of your earnings. And in exchange for these services, you pay a percentage of your earnings to the network.
The second option is to sell ad space on your website directly to advertisers at a given price. The price is at a flat rate, and you get paid upfront at the beginning of every month. It is not based on a pay per click (PPC) like that of Google Ad-sense.
And the third option, you sell ad space on your website directly to advertisers and get paid base on the number of your visitors that click on the ad. How much you make depends on the traffic your website is generating.
This approach is generally quoted as a dollar amount per one thousand impressions (CPM). For example, if the CPM is quoted $5 and you get 100,000 visits in a month. Then, the price for the ad will translate into $500 per month.
One good thing about this method is that, if your site gets lots of traffic, your banner ad can earn you up to $5000 per month. And on the contrary, if your site doesn’t attract enough traffic, you won’t earn much.
Creating and selling your product is one of the ways of making money on your site. This approach is straightforward because you can sell your product directly from your website without any third party, and you get paid immediately.
Selling personal product enables you to build your brand and authority. It’s a great way to earn a passive income because affiliates will help to promote your brand. Affiliates also send you traffic since their followers will eventually land on your page.
Nevertheless, to create and sell product online has its challenges. You’ll need to put in lots of work and time. And occasionally, you may encounter some hidden costs. But if you’re able to push through, then you’re in for big money.
Examples of digital products that you can sell on your site include e-books, audio-books, podcasts, graphics, templates, etc.
To make money through a website has a lot to do with traffic, that is, the number of monthly visits. But you can still make money even if you don’t have enough traffic.
How do I mean?
If your website traffic is low and you have strong engaged community. People will like to support your journey if they appreciate your content or they like what you have to say.
You can make money by asking your readers for donation. Accepting donations will not make you rich overnight, but it can help you to settle some expenses in the short term.
Some of the popular websites out there run fully or partly on donations. Wikipedia and web.archive.org are typical examples. Start by adding a simple Paypal donation button on your website. Ask people to donate a little amount (enough to by a coffee) if they like your content.
At least whatever you get from the donations should be enough for the maintenance and smoothly running of your website.
Selling your website can be a great way to earn a large sum of money. Generally, a website sells for 12 -24 months revenue. That is, if you’re making $2000 every month, you will get $48,000. In reality, it may take you longer than two years to such amount, if you factor in other expenses and taxes. So selling it might be a better option.
And if your website is an authority in your industry (that is people trust whatever you share or endorse) and you’ve built a strong following. Or that you have something unique about your site.
There’s a market out there for your website. And you can sell it at any figure you want. Selling your website can make you rich or rather serve as a nice retirement fund.
The above list comprises of tested ways to monetize your website but not limited to these. A successful website can make money from more than one of these methods. You only have to identify which one will work best for you.
In general, identify what appeals most to you and your business to enable you to know which path to follow. So keep working hard and get your website going. There are many unexpected opportunities out there. Good luck!