In this DojoGuide we’ll be taking a look at methods to monetizing your website. What exactly monetization means & some methods you can use to implement on your site & make anywhere from a side income to even a full time income with some hard work & preparation.
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What is Monetization?
Monetizing is essentially making money from your site/business whatever it is you may offer. It could be a small blog or a business based site built around an idea. At the end of the day the most important thing to take away from these methods if you implement one or a combination of each is to offer your viewers something of value. Having something to give to your users in the first place is whats key to utilizing the methods we’ll discuss.
One of the most traditional methods of monetizing is advertisement based banners. Think of them as the digital form of billboards, posters, etc. Ads on your site featuring companies, sites, or services in exchange for a cash compensation. This varies into two categories the networks like Google Adsense or independent advertising or the ability to sell your own ad space to sponsors/advertisers on your own. Each have their own benefits to them it really comes down to personal preference in the end. Networks are easy to get started with & offer decent rates if you have high enough traffic but don’t always take into account value over CPM.
When it comes to independent campaign in which your either contacting sponsors or selling space on your site take these few things into consideration. Decide what content bests fits your site & audience and look around that industry. With some research you’ll be able to find companies, products, or services that’ll be interesting promoting their company to your audience. Start by reaching out to companies via their “Contact Us” page in order to pitch what you have to offer. While stats are important here it’s also key to define the value your site has to offer them. Be it your targeted readers, amounts of content, and so on.
2- Affiliate Programs
Affiliate programs are another lucrative monetization method that involves your promoting products/services to your viewers & when they purchase said product you earn a commission. Rates vary here from program to program but it’s a great way to earn some money promoting products/services you probably already use or cover in relation to your content.
For example if your reviewing a specific group of services such as web hosting you’ll most likely be linking off to their sites. If you use an affiliate code provided by those services when a user signs up under your link you can get percentage of that sale. It’s a nice & passive income method that can make anywhere from a few dollars a month to thousands of dollars.
Popular Affiliate Programs:
Note that the best way to really promote affiliate sales is by sticking to things you already believe in & or use yourself. Furthermore keeping it inline with your sites normal content helps the readers feel at home when using products you recommend. Cause at the end of the day affiliate programs are essentially referrals. So be sure to promote the services/apps you believe in.
The most simple & straight forward method of making money via your site is to sell something. There are countless platforms/services available where you can create a site plug in your product or software & being distributing out to your customers. I highly advise using a service in this case as it handles the technical background of transactions, customers, etc. Leaving you to focus on product & sales.
Popular eCommerce Services:
At the end of the day when it comes to product you have to have something to offer your customers. It can be an app, something home-made, or even products of others. You can focus on a group of products or stick to one specific thing. eCommerce is a big business & works well when you promote your site & whatever it is you’ll be selling in a variety of formats. Be it social networking, word of mouth, referral programs, etc.
A branch of eCommerce a services based site offers something to their customers in exchange for a flat rate fee or even a subscription model. This is the king of passive income as typically you have guaranteed income based of something you provide access to. This can vary from video courses, access to premium content, and so on. You can get creative here & implement your expertise into a service offered to your clients/subscribers.
There are a ton of ways to set up these membership based sites but the best option in my opinion is via WordPress.
A wordpress installation in conjunction with these plug-ins make for great service based sites.
In summary when it comes to these methods you can choose to use each in some sort or fashion or just stick to one. Offering value around the content you build & offer to your viewers is what builds a good foundation for each of these methods. Enough time, work, and creative thinking can turn these from small side profits to a full time job if implemented correctly. So get monetizing & building your small site to a profitable income.