Recently, a lot of fоlkѕ аnd readers frоm mу blоg hаvе аѕkеd mе thiѕ ԛuеѕtiоn аnd ѕо I thоught tо put the аnѕwеr dоwn in this post—I might juѕt share a link next timе I’m asked. Yоu will find mоrе vаluе in this аrtiсlе if аt ѕоmе роint you hаvе еvеr аѕkеd ԛuеѕtiоnѕ like, “How dо реорlе mаkе mоnеу from wеbѕitеѕ?”, “How саn I mоnеtizе my wеbѕitе?”. In this post, wе will consider 3 рrimаrу wауѕ tо gеnеrаtе rеvеnuе frоm уоur website traffic.
The first time I ever searched for the answer to this question, I saw some headlines like “33 ways to Make Money from Your Blog”. But I later realized that there are three main ways to monetize—make money from a website, they are:
E-commerce: Make money by selling products or services directly on your blog.
Affiliate marketing: Make money by receiving commissions from merchants when a product or service you linked leads to sales.
Advertising: Make money from showcasing other people’s products or services—advertising either on your website, blog, social media handles or via an e-mail newsletter.
E-commerce involves generating revenue by selling products or services directly on your blog. Let’s say you sell hair products, food, or accessories. If you already have a blog, the better, if not, you could create one. Write a little about your products—definitely a value offer and you could start selling online. This is different from social media because you could have numerous integrated systems—e.g. card payments. You could resell rights— a license given by an expert product creator to sell, promote and keep the 100% profit from their product. After creating a top-notch e-book, for instance, they allow you to sell their products and keep all the profit. You could also sell a special skill e.g. graphics designing, tutoring, copy-writing etc.—basically, any skill you have to trade for cash will get you much more revenue if you have a website.
This is generating revenue by receiving commissions from merchants when a product or service you linked leads to sales. Another name for this sort of marketing is referral marketing and here’s how it works—you promote other people’s products such as tickets, e-books, software, downloads, physical products etc. Your role is to redirect your traffic—buyers to the product’s sales page and when a purchase is made, you earn a certain agreed percentage of the sales—a commission. There are several affiliate marketing platforms like ShareASale or Clickbank that offers up to 75% of sales as commissions.
Selling advertising here means you are offering to showcase other people’s products or services—advertising revenue can be generated either on your website, blog, social media handles or via an e-mail newsletter. Below are a few points to note:
The more expensive a product or service, the higher the willingness to pay for an advert.
If your advertisement is not specific and well targeted, it will ever be clicked on. If you put a cigarette banner ad on a church website, you won’t sell much as compared club booking site.
The law of demand and supply greatly impacts your ad revenue or pricing is priced on supply and demand—if there is a high demand for your site and it has a valuable target audience (if you get a lot of targeted traffic) then you’ll be noticed by advertisers.
Another easy way on how to generate revenue from advertisements is via Google AdSense program. With the right daily traffic coming to your blog and google ads, you don’t have to sell anything, when a click is done, you get a commission. Just have about 100 visitors coming to your website every day and with ads that are high paying keywords, you earn decent revenue.
Hopefully, these streams of website revenue generation will give you a healthy jolt to making more money. A lot of sites have little advertising potential but if yours does — and if you’re willing to put in all efforts and commitment to harness it — you might earn well enough.