While you may not have made your website for the sole purpose of making money, it certainly couldn't hurt, right? Let's be honest- many of us are depending on some sort of income from our websites to make ends meet around here.
Regardless of whether you're trying to get rich, or you're simply trying to make enough to supplement the domain space, these four tried and true strategies that most websites have tried or will try at one point or another.
The following will try and prove to you the necessary tools you need to succeed for each of the following monetization strategies.
Today, one of the most valuable things you can sell is the gift of knowledge. Everyone is looking for the 'secret to this' or the 'best way to that' and if you can label yourself as an expert or leader in your field you may be surprised how much people are willing to pay for a taste of your knowledge.
Subscriptions can come in the form of e-books, webinars, vlogs, etc. This is a great monetization strategy because, you're essentially selling your own intellectual property giving you a 100% margin.
Tool to implement information product monetization: BuzzSumo.
If the challenge is finding content that your audience is willing to pay money for, than BuzzSumo holds your answers. Those of you looking to monetize your website by creating an information product can utilize BuzzSumo's content tool to find the most successful posts (or other types of content) for any given keyword in the past 6 months.
They also let you analyze the content in terms of share counts, which is also a great indication of the type of content your audience is hungry for.
One of the most popular and simple methods of monetization is through paid advertisements on your site. While there are many different options for ad publishers, the most popular is Google AdSense- which made it simpler than ever to add targeted advertisements on your site.
By placing a line of code on your website, the system will begin displaying relevant ads according to your site's content. For instance, if you're a style blogger writing about hot new sunglasses, Google Adsense will begin showing visitors ads for trending sunglasses, sunglass accessories, etc.
Once someone clicks on the ad, you personally will receive money for the click (typically this ranges anywhere from five cents to five dollars per click.)
One of the major concerns with advertising as a monetization strategy is the risk of compromising the aesthetics of your site. In addition to compromising the visual appeal, many publishers are concerned the ads won't be profitable as many users are prone to 'banner blindness'.
Tool to implement advertising monetization: AdNgin.
In order to overcome this hiccup and ensure users are still clicking on your ads, AdNgin provides continuous testing to experiment with ads for your AdSense campaigns.
With their easy to use drag and drop interface, you can easily see how different ad locations, sizes, etc will perform on your website allowing you to find the most profitable ad placement.
Getting your content to monetize is ultimately your end goal in order to increase traffic and conversions on your site.
In order to get your content to monetize the first step is creating high-quality content that your audience is hunting for. If your content isn’t of high quality or any sort of value to your reader, you won’t receive the engagement levels necessary to monetize your site.
The content you provide your users with should not only engage them through interest, but also inform them and perhaps persuade them how your solution or website can help them in some way.
Tool to implement content monetization: Roojoom
There’s so much content expanding over the webiverse, practically anything you could possibly think about has already been well thought out and published. Now, instead of trying to outdo content that already stands strong,
Roojoom offers a great alternative to utilize what’s already available on the web. By taking your users on an engaging, informative journey of relevant content you’ve effectively created a platform which funnels your users so they’re more ripe and educated for a conversion.
Sometimes all it takes to monetize is the right content, in the right sequence, at the right time.
If your website or blog often talks about or features other products or reviews, you can actually earn money by providing affiliate links back to these products. It's important of course that you match the products you're offering to the content of your site so it doesn't come off too promotional or spammy.
There are two different types of offers in affiliate marketing. Cost Per Action (CPA) allows you to get paid every time a user submits any information or contact form to the affiliate link in order to generate new leads. CPS, Cost Per Sale, on the other hand- typically involves some sort of transaction being made in order for an affiliate payment to be granted. Naturally, CPS campaigns will offer out more incentives than CPA.
Tool to implement affiliate programs: ShareASale.
How do you find said affiliate programs? ShareASale provides you with a large directory of merchants to choose from. It's basically a large marketplace for affiliates and merchants to exchange services.
They assist you with finding products or services that would be relevant to the content on your website, and then you can add the appropriate link and button to your site. Once a sale has been made you can see the cycle run full circle with some extra cash in your pocket.
With many different options out there to monetize your website, it's always helpful to try several strategies and see which ones work best for your website especially.
Nowadays there's so many analytical and conversion tools on the market that can help you to determine exactly which strategies are the most profitable for your business. Keep in mind that there may not be one 'best option' perhaps a combination of strategies works best for your site.
Continuous testing, an open mind, and a little help from these tools can get you a long way to monetizing your website.