How To Monetize Websites: 7 Great Strategies
So you've created a great looking website!
Done all things right!
But you're wondering, where's the bag at!
If so, then l got you.
In this post, l will quickly share with you – 7 great strategies that you can use to monetize your website – so that you can start earning some income from your content.
After reading this article, you'll be in a better position to go out there and start earning some money i.e. using some of the strategies shared in this post.
Thus, read till the very end if you want to learn more about this topic.
Monetization Strategies
Without further ado, let me quickly explain each of these strategies.
1. Display Ads
This is the most common method used by most website owners – since this is regarded as the easiest way to monetize your traffic.
In this method, you need to apply for different ad networks like Google AdSense, Ezoic, Mediavine, etc.
Once you get accepted, you'll get a simple tracking code which you can install on your site.
This code helps to generate some ads i.e. based on your content and the type of your site's visitors.
You'll earn income based on the RPM value of your ad network.
Keep in mind that, high paying ad networks has strict requirements i.e. they want websites with more traffic – and they're strict when it comes to your content type.
On the flip side, other networks like Ad Sense has low entry requirements – but they have very low RPMs – meaning, you'll earn little money for your traffic.
Thus, it's important to work on your site until it can qualify for premium ad networks – so that you can maximise your earnings potential.
2. Affiliate Marketing
Another great method is affiliate marketing.
This is probably the best method in my opinion – since it allows you to promote other people's products for a commission.
You don't have to worry about product creation, shipping, inventory, etc. – since these are all taken care of by the product owner.
You only focus on driving traffic to your links – and when people buy, you earn commissions.
This is great if you have a content based website – since you can easily recommend various products to your readers i.e. as long as the products provides value to your audience.
There's a lot of affiliate programs out there – and you can easily find the ones related to your industry.
And most of them are 100% free to join – thus, you don't need to worry about any joining fees.
👉If you want to learn more about this business model, check out this article.
3. Selling Digital Products
Another great method of monetizing your website is through selling a digital product.
In this method, you need to create a simple downloadable resource – which you can sell for a certain fee like 30 bucks or so.
It can be a simple pdf guide, cheat-sheet, eBook, or anything along those lines.
And the beauty part is that, you only have to create it once, and it will be sold and distributed automatically using certain softwares.
Thus, it's also another great passive stream of income for your site.
However, selling a digital product can be quite difficult if you don't have any trust and authority in the industry.
For this reason, you might need to provide a ton of value for free to your audience – so that they can develop the know, like, & trust factor.
Once you gain their trust, you can then sell them your product – and most of them will be happy to buy i.e. based on reciprocity.
4. Selling Courses/Information Products
Similar to digital products is online courses/information products.
This is also a great strategy to monetize your traffic – whilst sharing your best knowledge.
For example, let's say that you have a website related to body building, you can create a course which teaches people how to build muscles, or something along those lines.
It should be preferably in video format – since video content is easier to understand than written content.
Once you create the course, you just have to upload it on a platform – which allows you to enrol students automatically.
But you should make sure that, the course provides value to your audience – otherwise, you'll experience a lot of refunds.
5. Drop shipping
If you love selling physical products, then drop shipping might be a great method for you.
In this method, you create an ecommerce store – and you link it to your main website – so as to drive traffic from your main website to your online store.
When people place orders, you then source the product to a manufacturer in Asia for a lower price – thus, allowing you to pocket the difference.
And the beauty part is that, you don't need to see or touch the products – since the products will be directly shipped from the supplier to the customer.
Thus, drop shipping is also a good strategy to monetize your traffic.
You just need to make sure that the products are legit – otherwise, your customers might ask for refunds.
6. Print On Demand
POD is also a great strategy for monetizing your traffic – since you can easily sell some custom made designs on your website without too much hassle.
In order to get started, you just need to come up with some cool designs related to your niche – which can be easily made using Canva, or maybe outsourcing them to a professional designer.
Once you have some designs, simply upload them to a print on demand manufacturer like Printful.
This company has all the items and equipment needed to run a POD business – and they take care of all the background staff like production, shipping, customer service, etc.
You just need to promote your designs on your website – and when people buy, they'll handle everything for you.
You just need to set a price that covers cost of production – with some few extra bucks for your profit/royalty.
Thus, you can also utilise this method to monetize your traffic.
👉If you want to learn more about this business model, check out this article.
7. Offer Consultation Services
Last but not least, you can also offer consultation services to your visitors.
This allows you to share your expertise – whilst earning some income from that.
Let's say that you have a relationship based website, you can offer 1 on 1 consultation calls to people who want some relationship advice – and you can charge them a certain fee for your service.
There's a lot of people out there who're willing to pay for your knowledge – thus, you should take advantage of those people and provide consultation to them.
But again, you must charge a fee that is worth your services – so that you wont exploit your customers.
👉If you want to learn more about consulting, check out this article.
Wrapping Up
I hope that you've got an idea of how to monetize your traffic – since these methods are proven to work for most website owners.
Using these strategies, you can easily monetize your content – thus, allowing you to earn some income from your efforts.
The key is to choose the right monetization strategies which are ideal for your website – so that you wont waste your time and energy on unworthy strategies.
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