Now that you’ve got your website up and running, it’s time to find effective ways to monetize it. You can actually make money from your website, and there are many sites on the internet that were created simply for generating income.
Whether you want to generate a substantial income from your site or you’re just looking for a practical way to cover hosting and maintenance costs, here are four great ways that you can start monetizing your website now.
Affiliate Marketing
Affiliate marketing is one of the most popular ways to make money from your website. You are recommending a product or service on your site, and when a person visiting your website clicks on the link and buys the advertised service or product, you make a percentage of the sale. You can expect to receive between 30 and 70 percent commission on each sale. So, if you’re advertising a product that costs $100, you get anywhere between $30 and $70 by promoting the product on your site.
Selling Ad Space
There are millions of online businesses that are looking for place to promote their products. Your website could serve as advertising space. You set the prices for the ads, and charge a monthly fee for companies who want to promote through your website. Instead of getting paid after a sale, you’ll get paid upfront. The prices that you charge should depend on your website’s traffic. Banner ads are the most prominent, so you can charge more for this advertising space than for ads that are on the side of the page. You could make thousands of dollars a month selling ad space, depending on how many people visit your website on a regular basis. Just make sure there aren’t too many ads on your page, since this can be a turnoff to viewers.
Pay Per Click Ads
This method of monetizing is pretty simple and is offered through Google AdSense for bloggers, website owners, business owners and marketers. You’ll receive a code from Adsense that you input into your website. Once the code is processed, ads that are relevant to your business will appear on your website. Each time a person clicks on the ads, you’ll receive a small amount of money. The price per click is usually between 5 cents and 5 dollars, but if you get lots of website traffic, pay per click advertising could get you hundreds or even thousands of dollars each month. You’ll have to apply for Adsense, though, so be sure to stay up to date with Google’s policies to increase your chances for approval.
Selling a Product
If you’ve got a product or service that you want to sell to clients, you can advertise it on your website to make a profit. When you make a sale, you won’t have to split the profits with anyone else, and if product sales go well, this can be a substantial source of income for your business. Items that customers can quickly and easily access, like an e-Book are ideal for selling and promoting. This method of monetizing is easier said than done, but it can prove worthwhile. Make sure that what you’re offering is appealing to clients and optimize your landing page so that your product is easy to find when people visit your website.
Donations
Donations are a practical monetizing option, but you’ll need to let visitors know exactly what you plan to do with the funds. For instance, if you’re revamping your website and need to pay for hosting expenses or you’re launching a new product soon, be forthcoming with your visitors. The donations can also be used to fund research, depending on the nature of your business. Again, the more website visitors you have, the more you can expect to make in donations. Give people a number of options when it comes to donating (Paypal, major credit cards), so that giving is hassle-free.
Asking for donations is a monetizing method that should only be used after you’ve proven yourself to your clients. After you’ve delivered quality products and exhibited great customer service, people will be more likely to donate if they feel it will help you keep your business going.
A combination of these methods can help you bring in additional income through your website. Consider the nature of your business and the frequency with which you update your website when choosing the monetizing options that are right for you.