So you finally have a website that’s attracting a lot of traffic. Awesome.
But traffic – by its lonesome – is not enough. The next step is figuring out how to turn those visitors into currency.
Monetizing a website sounds like hard work (because it usually is), but the best monetization methods themselves are pretty straightforward.
If the traffic is there, there’s no reason why the following website monetization strategies won’t pay off for you.
1. Affiliate Marketing
Considered to be one of the most effective ways to make money online, affiliate marketing essentially means promoting other people’s stuff on your website.
The Amazon Affiliate program for example, lets you promote Amazon products in a variety of ways, which entitles you to a percentage of any sales they make to people coming from your site.
2. Sell Banner Space
If your traffic levels are impressive enough, you can sell banner space to other companies within your niche.
It’s as simple as reaching out to them with offers, or setting up an advertising page with all the details. You can also add placeholder banners that invite people to contact you in order to “Advertise here”.
3. Write Product Reviews
If your website or blog revolves around a particular industry, there are likely software or hardware products that you can review.
Reach out to the companies behind those products, and offer to review their stuff in front of your large audience – for a fee. The company in question may even provide you with the software or hardware free of charge. Do whatever you can to start getting more product reviews.
4. Pay-per-click (PPC) Ads
As the name suggests, a pay-per-click ad entitles you to money every time one of your visitors clicks on a banner.
To cut to the chase, your best bet here is Google Adsense. Google lets you specify the type of ads you want shown on your site, and then gives you the code to insert into your sidebars and content. They will then pay you for every click they get. It’s as easy as that.
5. Sell a Digital Product
While selling your own product may not be as immediately simple as the rest of the items on this list, it has the potential to bring in a lot of revenue over a long period of time.
For example, you could put an eBook together (which is essentially a blog post on steroids), and make it the focal point of your website. Depending on your niche though, the possibilities could be endless.
6. In-text Ads
Don’t want ugly banners cramping your site’s style? In-text ads may be the way to go.
By signing up with a popular in-text ad company like Intextual, certain words within your content will be automatically hyperlinked to relevant websites. Visitors who hover over the link get a preview before they click, so it’s often welcomed as a relatively safe and noninvasive advertising process.
7. Become a Consultant
If you’ve been harping on about a subject for a number of years, you may be considered as an expert in your field.
If that’s the case, you could begin offering professional consulting services within your niche.
For example, if your blog revolves around health and fitness, you can charge for personalised diet plans, workout schedules, and so forth.
8. Sell Courses
If you’re enough of an expert to consult, you’re also in a position to create and sell online courses.
You can pre-record them and sell them as downloadable files, or you could have them hosted somewhere, so you can charge your audience for access.
Zippy Courses is a relatively new yet popular way of creating, hosting, and selling online courses through WordPress. Although Shopify’s Mindflash app also gets the job done.
9. Host Live Workshops
Don’t think your audience will go for pre-recorded courses? You might want to try live broadcasts instead; where you can teach, interact with your audience, and answer questions.
You can host live webinars and workshops through free platforms like YouTube and charge your audience for access. You can also charge companies to sponsor your broadcasts.
10. Start a Job Board
This one may not work for everybody, but If your website possesses a thriving community in the right market, a job board could rake in the cash.
As an example, the Pro Blogger Job Board – the go-to job board for budding bloggers – was started by Darren Rowse after his website Pro Blogger soared to digital stardom.
11. Auction Your Website
Looking for a quicker buck, with none of the long-term stress of managing a growing website? You might want to consider selling your web property altogether.
People regularly pay good money for websites with potential, and Flippa is usually where such sales go down.
Easier Said Than Done
I’ll give it to you straight; implementing one (or more) of the above website monetization techniques is easy – and that’s precisely why it’s not enough. If it was, we’d all be rich.
After adopting one of the above techniques, you’ll need to work on honing your conversion strategy, delivering value, growing your audience, and more. It’s no walk in the park, but the rewards can be massive.
Got any other website monetization strategies? Tell us about them in the comments sections below!
About the Author
Kaya Ismail is a wordsmith and founder of Employ the Internet. He is a seasoned content marketer with a love for video games and coffee.