Building a website is a tedious process whose benefits might not be instantaneous. However, there are a few ways through which you can monetize your website and earn some cash online doing what you love.
So in the long run, it does pay, and today I want to share with you some of the ways through which you can make your website a real money machine and be able to pay those bills which are continually pilIng up.
How to Earn Money from Your Website
Running ads is a simple and passive way of making cash as a website owner. You can either sign up to some online programs or approach a business to put up relevant banners on your website.
Approaching businesses can be the most lucrative but it has a low success rate. It typically involves you targeting a specific company that is relevant to the content on your website. You would offer to run ads on their behalf and they then pay you for ‘renting’ the ad space.
You can also run ads using online Ads companies. Google Adsense is the most popular and well-known advertising program and is relatively easy to get started. However, the pay is often low and requires you to have thousands of views to even make $10.
Infolinks is another reliable online program. This one does not have any restrictions. It is best suited for smaller websites.
Different advertising programs will have different requirements for you to get paid. This is how most of them pay:
- pay per click on the ad
- pay per impressions (views on each ad)
- or pay per sale of each product.
Affiliate marketing is simply ‘advertising’ a company’s product on your website and hoping that a potential viewer purchases it. If they buy it, you get a commission. This commission often ranges from 5-20% of the cost of the product.
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There are dozens of affiliate marketing programs out there and you can select whichever one you like.
One popular program is Amazon affiliate marketing. It has been so lucrative in the last decade that an entire industry has been built off of it. People create niche websites with product reviews and buying guides to take advantage of it and make money.
You should consider this method as it is probably the best. You may have to put in a little more work but you will love the returns.
This method is a big money maker for social media presences and people with a large following online.
Brands typically want access to an audience to advertise their product. What is especially valuable to them is an audience that has a core interest in their industry. It allows them to skip the general advertisements (billboards, TV ads, etc.) and to really target the people who will purchase their product. This is known as ‘native advertising’.
You as a social media presence (or blog) can be their way into this target audience. They are willing to pay you to:
- write sponsored posts containing their products
- use their products in your day to day life
- ask your followers try the products
However, this method does require you to have a few thousand followers or a steady stream of traffic into your website.
E-commerce and Dropshipping
Selling merchandise and other products online is another great online business idea. It is a bit more time consuming and difficult than the other methods but you get to keep 100% of the profits you make. Some ideas of products you can sell include:
- Coaching programs
- Webinars etc.
These days you can even do dropshipping and sell products without keeping any stock. This method is the most complicated on the list and requires a lot of research. However, it can be extremely lucrative depending on the nature of your products and merchandise.
How to Get More Traffic to Your Website
So you now know of ways through which you can create an extra source of income. The next crucial step is to work on getting more traffic to your website. This is because more traffic means more potential conversions, which is important if you want to maximize your profit.
Keep in mind that most products have a 1-2% conversation rate, so for every 100 people, you will typically make about 2 sales.
No blog in 2019 should be without a competent SEO strategy. SEO allows you to rank high on search engines like Google, Bing, Yahoo and Duckduckgo. It is crucial as people always use these search engines to find information and you want your webpage to be the first page they see.
Read Also: SEO Guide: Beginners’ Guide To SEO In 2018
It is recommended that you target long-tail keywords or keywords that don’t have a lot of competition. It is unlikely that you will rank well for general terms, so it is better to specialize bit where the competition is less.
If you are not familiar with SEO, check out some videos on YouTube briefly explaining what it is and how you can work on it. It is a long term solution to getting traffic to your website, so you may want to hire a specialist or take an online course to become good at it.
Every successful brand has a large social media following. People love to follow their favorite brands and keep up with the content and any new products being launched.
You have Twitter, Reddit, Facebook, LinkedIn, and even Quora to some extent. These platforms allow you to build a following, and even target specific groups of people— in the case of Reddit “subreddits” and in the case of Facebook “groups”. These groups consist of people who have similar interests and you can share relevant web pages with them.
This is both a short and long term way of getting more people to your website. It is also a fantastic way to build up a group of core followers and people who will look at your content with each new post.
Which Method Works Best for You?
It definitely will not be easy to turn your website into a money maker but it is possible with hard work. I would even suggest you combine two or more of the methods above in order to maximize your income.