Nowadays, anyone can make a website. Unlike the terror of spending thousands of dollars years ago, creating a website will cost you way less. There are many hosts, like WordPress, that offer easy-to-customize templates to build and design, while allowing you to generate income on your website.
To get started, here are eight ways you can use your website to earn money.
One of the top ways you can earn from your website is by becoming an affiliate marketer. Simply put, affiliate marketing will help you earn by getting commissions from promoting the products and services of a different business.
This method is perfect for websites that are more product-centric, especially those that post reviews, comparisons, and buying guides. For instance, many websites take part in the Amazon affiliate program. They offer up to 10% commission for every successful purchase one makes after clicking the link posted on a website.
Overall, affiliate marketing can be a lucrative solution if you know how to do it right. All you have to do, though, is to be careful about the sites you partner with. Make sure that you only become an affiliate with a company that will be a good fit for your niche, your values, and your brand.
For websites with blog spaces, you can accept sponsored posts from other brands. The advantage of this is that you can get high quality content without having to spend time and effort to write it. Again, the technique here is to get the right brand to partner with—preferably, they must be one that aligns with your product or services and your audience.
When your brand has established its space in your niche, your audience will want to get more from you. You can offer something new to them while generating an extra stream of income for your site by creating online courses and webinars.
If you have the type of website that can offer exclusive content, valuable and educational information, or something that your audience will deem worthy of shelling out a few dollars, you can do well with a membership or subscription website.
In this type of monetization strategy, it would be best if you have a team of content creators to produce high-value content consistently. Membership opportunities may also offer extra features like VIP treatment, early access, discounts on products and services, or other exclusive offerings.
What you should consider if you want to go this route is the maintenance this requires. A challenge website owners might face are keeping members engaged, time and effort to set up membership spaces, and ways to still deliver value to regular visitors and non-members.
Websites are not limited to producing content, you can also consider selling some goods on your space. By offering some physical products, you offer something tangible to your audience that will help them appreciate you and strengthen your relationship with each other.
If your website is more content-driven and doesn’t really have a specific product to sell, you can consider selling simple, “merchant” items like calendars, planners, books, shirts, mugs, or cards.
Apart from physical products, you can also offer digital products like ebooks, templates, checklists, downloadable guides, PDFs, and other useful resources that can offer some value. In this type of monetization strategy, your main priority must be to answer questions that trouble your audience and give them solutions that they can apply to make their life easier.
You can also make the most of your website’s space through display ads, particularly banner ads. Banners are rectangular advertising spots you can place on your webpage to promote a company’s ads or services.
If you have a high traffic website, banners are a lucrative monetization option that can give you extra funds every month. For those with fewer clicks, this might not be the best option for you. Of course, you should also take note to display products and brands that your target will actually consume.
Additionally, you might also consider limiting the space on ads on your site. Showing too many ads will clutter your site and that might affect user experience and drive away people from your site.
Many websites use their email list to update their customers about the latest news on their site, new products, promotions, events, and other essential notices. Business owners can take advantage of this option by renting out some space in their emails to other companies.
Email marketing can get you a few hundred dollars per thousand email addresses. However, it can still be a double-edge sword. Companies must ensure that the emails will be a good fit for the brand, the emails will not seem annoying, and that the emails are formatted in a way that won’t lead the customer to unsubscribe.
Using your website as an income generating tool is something you should not miss. If you need more guidance on how to do this successfully, check out the rest of our content on Page Kits!