Thanks to all the money making opportunities on the Internet, There are a myriad of ways for people to make money with their websites. Thankfully, most can be categorized under advertising, affiliate marketing or selling a product/service. We’ll briefly look at these top 3 ways in which you can make money with your website.
Popular sites like Facebook and Google primarily make money through advertising. For medium and smaller sites, advertisements are usually served by ad networks, the biggest of them being Google AdSense. Millions of webmasters depend on AdSense as their main (or only) income source. There are other large similar advertising networks like Chitika and BuySellAds , used as alternatives to AdSense.
As you’d expect, making money with advertising – directly, or with ad networks – depends largely on the traffic you command. That’s because the pay is based CPC (cost per click) – the more visitors you have, the more clicks you get.
Publishing sponsored posts is also a form of advertising that large sites like Mashable.com use to monetize their site. Again, well-paying sponsored posts aren’t likely to come your way if your traffic stats aren’t good enough – at least in the eyes of the advertiser.
#2: Affiliate marketing
Affiliate marketing is massive industry on its own as there’re literally thousands of products for website owners to promote. Almost every industry with a web presence has an affiliate program – be it insurance, education, art, travel, web design or retail. There are many bloggers who swear by affiliate marketing as the number one source of passive income online – and rightly so, especially since they’re promoting high-converting products or products that earn them fat commissions.
The concept behind affiliate marketing is simple – a website owner or blogger talks about, reviews or mentions a product, with a special affiliate link that leads to the sales page of that product. If the visitor ends up buying that product (or performing a specified action, such as filling out a form), the blogger gets credited with a commission. Of course, more traffic will translate to more click-throughs to the affiliate product, hence more affiliate sales.
Success with affiliate marketing ? depends on a number of factors, the main ones being:
1. The product you choose to promote – are the sales volumes enough?
2. The commission per sale -some affiliate products can make you $5 per sale, while others make you $200 per sale.
3. Traffic – once again, you need lots of traffic if you want lots of sales.
#3: Selling a product/service
You can make money with your website by selling your own product or service; you do need some expertise in at least one area. For example, photographers sell their photography, artists sell their art, web designers sell their templates or website creation services and copywriters sell their copywriting services.
One of the most exploited business models on the Internet is the sale of eBooks and other informational products, including videos and audios. If you are an expert in a particular field e.g. dog food, you can write an insightful guide for dog owners, educating them on all types of dog food, how to feed their dogs, and other relevant matter on that topic. You may include videos as part of the package to make your product more attractive. Finally, using an affiliate program such as Clickbank, you can get affiliates to promote your product to rake in more sales and split the revenue with them.