5 Things to Know About Website Monetization
5 Things to Know About Website Monetization
Around 55% of Americans believe they can start their own business. But how many actually do it? How many use their skills, passions, experience, and work ethic to become their own boss? To find out more about udyamoldisgold click here.
If you’re reading this, you’re likely one of the few people who started a website as a side hustle business. And if it’s growing and getting popular, the next logical step is to start website monetization. Because if you monetize your site, you might even be able to quit your job and be your own boss!
It might sound scary, but all you need to figure out how to monetize your website is to choose the right option for you.
These money-making website tips will help you make an informed decision.
1. Display Advertisements
Display ads are graphic advertisements on a website that promote third-party products or services. Displaying website ads is one of the most consistent and low-risk forms of website monetization. As long as your traffic stays the same (or increases!) then you can expect the same monthly income.
And you don’t need to contact individual products or services to advertise them through this method. Advertising management services act as “middlemen” between brands and website owners like yourself. Some examples of advertisement management services are:
- Google Adsense
- She Media
Some of these services are more exclusive than others. Google Adsense accepts websites of all sizes so you can start displaying ads through them with zero visitors. Ezoic needs each website they work with to have at least 10,000 page views per month.
Mediavine is one of the most selective management services. They demand 50,000 sessions before a website can apply. But in return, they offer a much better rate than some of the other networks.
This is a form of passive income. This means it takes very little effort to earn money through this method of website monetization. But you will need to create and update content as necessary to ensure a consistent number of website visitors.
2. Selling Your Own Ad Space
Some website owners don’t like that they cannot control the products and services on display ads. Some people also don’t like pop-up ads or how these types of ads affect their site speed.
If you agree, an alternative way to get ads on your site is to sell ad space yourself. You can contact businesses (or they might contact you) asking if they want to advertise their service on your site in exchange for a fee.
Most website owners that monetize this way have tiered prices. The amount you charge for this service will depend on the ad’s size, placement, duration. It will also depend on your website traffic.
If you do decide to sell ad space yourself, one top tip is to not enter into a contract longer than six months. Because if your traffic was to double within that six-month time frame, you could demand a higher fee. But if you signed a year-long contract, you would have to honor the initial fee.
3. Selling Products or Services
Of course, there are hundreds of thousands of eCommerce websites. It’s an effective method of website monetization.
But even if you have a blog or business website, you could still make some extra money by selling products. You could sell physical products like branded merchandise or digital products like ebooks.
If you offer freelance services that relate to building websites, then your website is the best place to promote your skills! Here are some examples of website-based services:
- Content writing
- SEO marketing
- Web development
- Web design services
Create a page on your website with a portfolio of work and your rates.
4. Affiliate Marketing
Do you often recommend products or services in your web content and provide a link for your followers to buy those products? If so, you could be earning a commission with every sale made through your link.
Commissions from affiliate links vary from business to business. Around 4-8% is average but the rate could be up to 30% of the sale with certain companies.
All you need to do is sign up for at least one affiliate management service. These services partner with many brands so you don’t have to sign up with every individual brand you want to work with. But you can still sign up for as many different services as you like.
Here are some examples of top affiliate management services:
- CJ Affiliate
- Commission Factory
Some companies, like Amazon Associates and Booking.com, don’t use a “middleman” management company. You need to sign up with them to get affiliate links to their products and services.
Every affiliate company you sell products through will pay your commission every month if you pass a threshold. For example, if you only earn $1 in commission one month then you will likely not receive a payout until you earn more.
5. Donations and Memberships
One method of website monetization that has been growing in popularity over the last couple of years is memberships. This is where you provide exclusive content and services to people who pay a monthly membership fee.
This exclusive content could be a private podcast, blog content, ebooks, guides, and courses. You can set this up yourself via direct debit or you could set it up through Patreon.
One of the benefits of using Patreon is that it allows your followers to decide which tier they want to choose. For example, they may decide to donate $5 a month in exchange for exclusive blog content. But you could offer a lower $1 tier for a private monthly newsletter or a higher $15 tier for people who want a course.
Now You Can Start Website Monetization Today
Few people achieve overnight success with website monetization. You first need to build a popular website and then you can start applying one (or more) methods of monetization. But if you put in the hard work, in the end, you could have a lucrative income stream that takes very little effort to earn.
When you learn how to earn money with your website, you become a small business owner. Browse our business articles where you will find lots of useful advice and tips!