A website can be a good source of passive income or even your primary source of income if you know how to monetize your website. Making money from a website may seem a hard to achieve goal, since there are a few prerequisites you need to check off first – generating engaging and useful content, rolling out good products, and driving high traffic to your website – before you can even think about how to make money from your website.
But even if you have all those things checked off, you may still not be making enough money to cover your website’s costs and the time you’re investing in managing your online project. In this case you should revisit the content you’re putting out or the products you’re marketing, and see whether there is room for improvement; however, the real problem may also lie in the fact that you’re not monetizing your site the right way.
How to Make Money with Your Website?
There are various methods you can use to make money with your site, and we’ve gathered some sure-fire website monetization techniques that you should absolutely try out for your website:
Google’s PPC (pay-per-click) advertising program is one of the most widely used by bloggers who want to generate revenue with their blogs. Once your website has a steady flow of visitors and your site fits within the guidelines of Google AdSense (e.g. unique content, good site design, etc.), you can qualify for Google to place ads on your site.
The ads that will show on your site are often contextualized, meaning that they are relevant to the profile of your website. Through this advertising program, Google will pay you money every time a visitor clicks on one of these ads.
Google AdSense is a popular way to make money from your website, but it’s not the only one, and you shouldn’t employ only a single monetization technique when looking to make money with your website.
Affiliate marketing is another avenue to generate revenue from your website. Affiliate marketing works based on the principle of referral, that is, you refer customers to another site, where they can purchase their products or services, and you get a percentage from the selling price.
When you’re paid a commission after a sale, it’s called pay per sale. Affiliate marketing can also work based on pay per click, when you’re every time a visitor clicks on an affiliate link, or based on pay per lead, when the visitors you refer provide their contact information on the site you referred them to.
There are many affiliate marketing programs you can enroll in, and refer visitors through text link ads or banners placed on your website.
Affiliate marketing is an excellent strategy to make money through your blog or website even though you yourself don’t have a product or service to sell.
Direct Ad Sales
Another option to make money from your website is to essentially “rent out” advertising space on your website or blog. This option allows you to work directly with those who want to advertise on your website, essentially cutting our the middleman, allowing you to set your own pricing and payment options. You may ask for a monthly or yearly fee, or you can cut a deal for getting a sales commission.
Here too, an important prerequisite is to have a large volume of monthly visitors, otherwise you may not pose an interest to sponsors, unless you have a website in a very unique or rare niche.
The banner ads or video ads that you wish to publish on your website for advertising your sponsor’s products or services are usually provided to you by the advertiser, so your only job is to upload them on your website.
Sponsored content or product reviews
Another way of working directly with your advertisers is through sponsored content and product reviews. You can agree with your advertiser to publish one of their articles on a product or service, or write the article yourself. Thus, you have the liberty to set your own pricing.
In some niches, product reviews are an extremely popular and easy way to make money with your website. Just think about videos reviewing phones, laptops, and other IT related products or services. IT is a very wide and lucrative niche, but so is the gaming, the fashion and the beauty industry. Reviewers can be compensated through products or commissions from the sales the reviews have generated.
Promoting your own services or products
If you’re not keen on advertising other people’s products or services as a means to generate revenue through your website, you can promote your own services or products on your blog. A blog can be a good addition to an eCommerce website for example, because it can give you the opportunity to write at greater lengths about your services, or present your products in a different light or give them more exposure.
You can use your website or blog to sell software, ebooks, or promote your skills in IT, marketing, SEO, content writing, consulting, design or any other field.
Selling your website
Another method to make money off your website is to sell it once it reaches a certain maturity and traffic. There are various marketplaces specialized in selling and buying websites, with bidding systems in place. You can usually list your website on these for free or pay a certain percentage of the sale price once you’ve manage to sell your website. Some popular sites for selling or buying websites include Flippa, Digital Point, etc.
Advertising is the best way to generate revenue with your website, and since advertising is a versatile field with many available avenues to promote and market everything from tangible products to e-products, we encourage you to test and see which methods work best for you. The great thing about advertising is that it’s not restrictive and you can use more than one method to generate income with your website.
Moreover, if you’re offered the right price for it, you can even go as far as selling your site as the ultimate way to make money from it.