Website monetization is the process of converting existing website traffic to revenue. No matter the kind of website you own, you can make a profit from it if you put in the right work and effort. However, before a website can be monetized, some conditions have to be met.
In this article, we have stated some of these conditions:
- Quality content: The first thing you must keep in mind is that nobody is interested in wasting their time on a website that has nothing to offer. Therefore, if you hope and plan to earn from your website you have to spend time and effort creating and sourcing for valuable content. Your content should either educate, entertain or engage your website visitors. If it’s not doing any of this, then it’s crappy.
- Website optimization: After you have created those relevant and valuable content and are ready to share the next thing to do is to optimize your website for search engines to drive targeted traffic. Search engine optimization (SEO) is the art and science of driving targeted website traffic to your website from search engines. Optimizing your website for search engines will enable your website to appear in search engine results pages (SERPs) when people search for your keywords or anything related to your content. If done properly, you might even appear on the first result page.
- Analytics: Now that your website is properly optimized, your website should have started getting traffic. Provided your contents are valuable and relevant, your traffic will grow over time. As its growing, you would need to keep an eye on the activities on your website and analyze them. To achieve this, you will need to make use of analytics tools. Examples of these tools are google analytics, crazy egg, kissmetrics and so on. Some analytics tools are free, while some are not. But for a start, you can make use of free ones.
Now that you have met all the conditions above, it is time to start making money.
10 ways to make money from your website.
- Pay per click advertising (PPC): Pay per click advertising is a form of advertisement that marketers use on their website to earn money. It is an advertising model where marketers and publishers earn an income when readers click on an advert on the website.
This method of earning works if you have quality, relevant and optimized content on your website. You need to carefully insert keywords into your contents so that Google or any other PPC platform can determine the ads to serve your website. This is because matching the ads to the content on the page will increase the chance of the ads being click on.
It is very easy to make money from your website with Google AdSense because it is easy to set up. Also, you will easily get help from support forums if you ever get stuck.
The best part is that google pays between the 21st and 26th of every month.
How to make money on your website with Google AdSense:
- Read the terms and conditions and make sure your website meets all the criteria.
- Sign up for Adsense and wait for approval
- Place the ads anywhere you like
- Start earning.
- Selling Ad space: In this method of earning, publishers/marketers sell ad space directly to advertisers. Ad spaces can take the shape of side banners, links, or small pop-on. The pricing of these spaces can vary- you have total control overpricing.
This form of advertising relies more on conversion rather than traffic. You need to have a high conversion rate in order to earn. While selling ad space is time-consuming it guarantees more earning than PPC advertising.
So, how do you let advertisers know you are selling ads space?
BuySellAds is one of the places you can get advertisers to buy your ad spaces.
- Affiliate marketing: Affiliate marketing is a popular way of earning money from your website. It is an advertising model whereby companies pay publishers for every sale they make for their products.
To start with affiliate marketing, sign up on any affiliate marketing programs. Once you have signed up and have an account, select the products you believe you can sell (i.e. product that will be beneficial to your target audience) and promote them on your website. If you are good at writing reviews, you can even write reviews for the products.
When any of your readers click on the advert to purchase the product, or any purchase is made through your affiliate link you will get a commission. The average affiliate commission rate could range from 5% to 30%.
Here are some affiliate marketing networks you can sign up on:
- Sponsored content: You can also earn by offering sponsored posts. People, businesses, pay you to feature their content on your website, or to help them write and feature their post on your website. You can charge a higher rate if you would be writing the content for them.
The content can be in the form of advertisements, sales or product announcements, reviews, infographics, event announcements, or offers.
Factors to consider when rating or setting the price for a sponsored content include:
- Will you be writing the content or not?
- The brand value
- How much time it will take to create the content
- The number of sponsored posts/content you will be writing each month.
- How much influence you have online. The more your influence, the higher your rate.
Are you now convinced that you can earn from your website using this method? Let me give you some tips on how to get started:
- Start with smaller brands.
- Build your portfolio.
- Partner with PR and marketing firms.
- Search sponsored content markets like payperpost and tomoson to get clients.
An important fact to take note of is that you need to be smart when accepting to write sponsored content. If done right, that’s a win for you. But if not, it can destroy all of the reader’s goodwill you have worked so hard to create.
- Providing new leads for other businesses: Take for instance you own a recipe blog (food blog) and you generate a substantial amount of traffic monthly, restaurants and online grocery stores will be interested in your website visitors because they are likely to patronize them.
Since you have the leads they need, you can offer to connect them together. You become the matchmaker linking leads to businesses. This form of earning is similar to affiliate marketing, but the only difference is that you are only introducing both parties to each other. Whether they buy or not is really not your business, unlike affiliate marketing.
Where to find these types of offers
- Create a membership website: In a membership website, visitors pay to have access to website contents. If you are confident that your website is worth paying for, you can give it a try. For your membership website to work, you need to start out as a non-membership website. Let visitors have access to your juicy contents for free somedays (this will let them have an insight into what to you and you can hold out on some features or content if you wish). Once the free access period is over, you block their access completely till they become members.
There are different models which you can use to set up your membership website
- Subscription: Members pay a monthly fee to have access to all your website content
- Metered: Website visitors have free access to your content until a certain threshold is met. Once the threshold is met, they will need to pay a certain amount to continue.
- Transaction: Selling contents such as eBook, training programs and audio downloads individually.
- Selling your own products and services: Do you have a physical or digital product (audiobooks, eBooks, e.t.c) or you have a skill you are good at? Get a website, include your products and services, and start advertising and earning. The fact is that it will be difficult at first to earn from the website. But if you can add a blog or forum, it will help you a great deal.
- Flip your website: website flipping is the act of selling a website. If you have a website that has some monetary value, you can sell it. This method is for those with short term plans.
If your website is worth $200/month, you can easily sell it for $2000-$6000. Website flipping is lucrative, but your website has to be valuable before you can get a buyer.
Check out the factors you can use to measure the value of your website:
- The traffic it generates
- The profit it generates
- Continuous growth
- Revenue steadiness.
Where to sell/flip your website.
- Donation: Some readers/website visitors donate to publishers to encourage and support them. You can use this means to earn on your website. Place a ‘Donate’ button somewhere on your website where your visitors can easily spot it. Donation is not a fast road to wealth, but it can help take care of minor expenses.
- Setup online classes: What is that thing you are skillful at or knowledgeable about? Set up a course outline on it, get a beautiful website, upload your online courses, advertise and start earning.
Be sure that you are very knowledgeable about what you choose to teach. Your courses can come in different forms like PDF documents, audio file or video files.
The road that leads to making money from your website can be a very interesting, time-consuming, and tiring experience. But the beautiful thing is that it pays in the end.
Are you wondering if you can use more than one of these methods? The answer is- Yes! Yes!! Yes!!!
This brings us to the end of our article.
If you have any questions, comments or contributions concerning this topic, please drop it in the comment section.