by Website Innovator | 8/6/2021
How to easily monetize your website
Can the website go beyond its informative purpose, and be utilized as a source of profit? The answer is yes.
Great, you have a website. We have beautiful visuals that can linger in your audience’s memory, and we have wonderful content that catches their attention. However, can the website be turned into a source of income? In other words, can the website go beyond its informative purpose, and be utilized as a source of profit? This is a question many small business owners ask, given the large amount of time and effort websites take to be launched. Making a good website is definitely an investment, and making the most out of this resource can be a huge plus to your growing business or movement. Thankfully, the answer to the question is yes.
Before we break down the strategies to monetize your website for profit, we must explore first what kinds of strategies are out there. There are various Ad networks, such as Google Adsense, ADthrive, MediaVine, and BuySellAds, that connect clients to websites willing to display ads. These ad networks have two types of website ads: Cost Per Click Ads (CPC), and Cost Per Mile Ads (CPM). Cost Per Click (CPC) Ads generate revenue for your website when a visitor clicks on one of the ads displayed on your website. On the other hand, Cost Per Mile (CPM) Ads generate revenue for your website based on how much traffic it has, meaning the more people who visit your website, the more revenue you will earn. In addition to the ad networks, you can also directly sell your website’s ad space to media buyers, allotting yourself 100% of the revenue you earn. However, this option can entail much more research, networking, and time dedicated into it.
Another strategy you can employ to start displaying ads on your website is a growing market strategy: Affiliate Marketing. This is an arrangement between your website and a company where you direct potential customers to their site. There are two ways to generate money with affiliate marketing: CPC (cost per click) or CPA (cost per acquisition). Similar to ads, Cost Per Click (CPC) Ads is where you receive money every time someone clicks a link on your site that sends them to the partner company. Meanwhile, with Cost Per Acquisition (CPA) Ads, you don’t receive money unless that user buys a product or signs up to a service from the affiliate. CPA fees are higher than CPC because you are making the affiliate money, unlike CPC, where they may just browse.
Another branch of Affiliate Marketing would be Sponsored Posts. As your website grows in popularity and size, companies may reach out to you to promote their brand via sponsored posts. Make sure to follow the strict guidelines of how you need to state that the content you're producing is sponsored. If it’s something you’re considering, brushing up on the FTC guidelines is a good start.
But you may be asking, are there any other ways to monetize your website other than through displaying advertisements? The answer is “Yes”. One way to monetize your website is through building an Email List for your website visitors. Using an email list of people who visit your website, you can notify your audience of new content to help keep them engaged and form a stronger relationship with them. In addition, with the newsletter creation services available in the web, you can generate revenue through Subscriptions, membership content, and paywalls for premium content from your website. Subscriptions are where customers pay at a regular rate(monthly, yearly) in order to access premium content on a website or for company services. Popular subscription sites are Dollar Shave Club, Ipsy, Blue Apron, and Birchbox.
Last but not least, do not be afraid to ask for donations from your website. If you have a strong and engaging audience, many people may be willing to donate to support you for your website’s content and missions!
Some criterias to start making a profitable website are having a strategic SEO in place, having engaging content, consistent updates, proper branding, and social media outreach. Read more about them in our past blogposts, located in the right column. Reach out to us today to start setting your website to the full profitable potential with any of the methods above: we are here to innovate with you.
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