How To Monetize Your New Website
Whether it’s word of mouth, social media, or on the news, it’s pretty difficult to miss the fact that people, just like you, are making money from having a website or social media presence. So if you’ve finally taken the plunge and have created a new site, you’re probably wondering how you can monetize it, too. What’s really good news is that there are many ways to monetize your new website.
On the other hand, it’s not as simple and easy as the GoDaddy commercials would have you believe. No, it’s not a matter of “if you build it, they will come.” Reality is that if all you do is launch a new website, all that’s going to happen is . . . nothing.
Here’s a look at some of the ways you can monetize your new website.
Offer Products or Services
Products
In 2018, the total of sales made on the internet in the U.S. alone was over $500 billion, and online sales are growing at 8.8% annually. With the boom of e-commerce, it has become increasingly easier to open up an online store fast and easy, without any hard-core technical knowledge.
If you’re passionate about handicraft, you could make and sell your own product on Shopify. It could be handmade candles, artisan soap or exclusive leather accessories: it’s all up to your imagination and skills. Just make sure you use the right tools to take care of your business operations. For instance a good Shopify order management system will make your life easier, by keeping track of your raw materials and manufacturing processes.
Services
If you have expertise in a specific area, you may not need a physical product at all. Some of the possible services you might offer are:
- Professional coaching on something you know well.
- Providing editorial or writing services.
- Managing social media for other people or businesses.
- Providing IT or website services of virtually any kind.
The list of possibilities is only limited by your imagination. If there’s something you’re good at, there’s probably someone out there who needs your services.
Do Affiliate Sales
If you like to blog or write as they used to call it, but don’t want to sell anything directly, affiliate sales might be a good option. With affiliate sales, you’d be writing articles about whatever interests you and linking to relevant products being sold by other companies.
One of the original sources for affiliate marketing is Amazon. But it’s the same process no matter who is the actual seller.
Let’s say you write an article about backpacking. In that article, you mention your favorite hiking boots. The words “hiking boots” are linked to the page where the boots are sold. When someone reads your article and clicks on the link, you get paid a commission when they buy. How effective is it? In the U.K. alone, affiliate sales are in the billions.
Host Advertisements
Yes, I know, we all hate ads. But it’s what fuels much of the commerce that takes place on the internet. And every one of those ads you see on websites is potentially earning money for the website owner.
One of the biggest providers of ads, for which you can get paid, is Google. They have various options available. But the bottom line is that, similar to affiliate marketing when someone clicks on that ad on your website, you’ll be compensated. Mind you, they’re tiny amounts but can add up to a respectable part of your total online income.
Patience is Key
Building an income from your website isn’t an overnight thing. Just as with any business, online or brick and mortar, it takes time to create a reliable flow of income. With a bit of patience and perseverance, a few years down the road you’ll not only have a revenue stream, but also a valuable asset.