If you are blogging, have an online hobby website or maybe a general information website … I bet this thought has crossed your mind …. ‘how can I make a little money with this website?”
It’s a common question and one we thought we would answer by giving you 7 tips on how to monetise your website. It is a taster to get your business building juices flowing and see if you can think of some ways to generate a bit of income via your website. (If you don’t fancy watching the vides, we have written the tips below the video)
- Advertising: Look at displaying Paid Advertising on your site, with Google AdWords. You can use a blogger-specific Ad Agency like Nuff Nang or even manage the advertising on your site personally. Please bear in mind that the ‘Advertising’ model relies on you having a large audience in place already, you need to be sharing great valuable content and have an engaged audience who are likely to click on ads on your site to make this worthwhile. If you are advertising things on your site that are not of interest to your audience, they will switch off and actually think less of you for having bad ads on your site, so if you are going to do this, do your research and only advertise products and services that match your audience needs.
- Sell stuff: This one is pretty easy, you can sell products that you make yourself, on sell things you buy from someone else, or quite commonly your might sell your own services or skills.
- Create and sell digital products: Think things like templates, checklists, guides, processes steps or anything of value that you might already use that will help people solve a problem or achieve a goal. If you have made your life easier in a certain way, you can bet that other people out there might be interested in your solution or tips too.
- Get commission: People will pay you a small commission from selling their products or services. To make the referral worthwhile, maybe you can review their product or do an interview with them about what they offer and the benefits to your audience for buying the product. If your website is known for valuable content and honest opinions then people will trust others that you recommend. The key to this is to not SPAM people, be genuine and recommend products and services that you actually use or feel will be super valuable to your audience. If you recommend rubbish then you are going to loose your audience quick smart!
- Partner with others: When you partner with another person or business in a joint venture, you can create a product or offering together, maybe by joining up to offer services together as a package. That way you can share the workload, both promote the joint venture and both share the benefits plus, your audiences gets 2 experts for the price of one.
- Memberships: Do you have valuable content that people would pay a monthly or a one off fee to access? This model is a great long term strategy as the membership area is usually topped up with fresh content regularly so it stays valuable to people who have signed up on an ongoing basis. It may also have a group discussion forum that is part of the membership which would enhance the attraction and long-term engagement of the membership. This is a great model if you are an expert in a topic and have lots of content to share on a regular basis that people are willing to pay for.
- Directories: What about creating a website with a listing on it? These are great for niche areas … imagine a yellow pages style site for your niche industry … like a wedding directory! You would start off by listing all the suppliers or business in that industry and then let the listed businesses know that they can pay for an upgraded listing, or they might be able to pay an additional fee to be included in your newsletter or in the form of ads on your site that also promote the listed business. You would also open it up to the public so anyone can submit themselves to be part of the directory.
We hope these 7 ideas have got you thinking about what you might like to try as a monetisation strategy on your website. If you would like to know more, we have written an eBook where we go into more details about online business models. Just contact us for more information.