Websites today are no longer restricted to just sharing content. They have now become a vehicle to generate revenue. Tools such as Google AdSense have made it easier to create revenue streams. But there’s a world beyond AdSense that will ensure a wider stream of revenue.
We have covered a wide range of opportunities that you can explore to earn a steady source of revenue from your website. These 21 ways will help get you started on your website monetization journey:
This is probably the easiest way to monetize your website and involves hyperlinking products from other popular websites. If a user clicks on the link you include and purchases the product, you earn a small commission. In 2022 alone, the US is expected to see $8.2 billion in revenue via affiliate marketing.
Create an online store
Although it requires intensive attention and effort, setting up an e-commerce website or online store can be a long-term revenue stream. Researching the market and figuring out a niche would be the first step in the process. Once you have identified your focus area, build a robust strategy. You will also need secure payment gateways and integration to offer more customer convenience.
Create an online portfolio of your work
This is popular among freelance artists and creative individuals. Using an attractive website that showcases your current and past projects not only attracts admirers but also appeals to potential employers who may offer you more projects to work on.
Offer exclusive membership subscriptions
Several websites depend on user subscriptions to generate revenue. Tiered membership benefits are a strong reason to revisit your website. Tie it up with gamification and you have an avenue that generates traffic organically and creates revenue. This method is gaining immense popularity and the Twitter Blue subscription service is a good example of its implementation on a mainstream website.
Create product reviews
By adding product reviews on your publication, you can also increase traffic and generate more revenue. Select a niche such as technology and lifestyle, reach out to companies for their products (or buy them yourself), and post detailed, unbiased reviews. You can even partner with your sponsors for banner ads, info links, etc. in those reviews to generate more clicks, and in turn - more revenue.
Sell podcast subscriptions
This is another great way to open monetizing avenues for your website. It has been projected that by 2022, podcast listeners will account for over 20% of all internet users. You can utilize this current surge in the podcast market to create podcasts, and sell the subscription for a small fee. Hosting podcasts on platforms like Spotify, iTunes, PodBean, and SoundCloud increases the visibility of your podcasts and the chances of user subscription.
Resell your content offline
Big retailers such as Amazon, Microsoft, Google, and Apple - are opening up physical stores to showcase and sell their products. You can follow suit to partner with brick-and-mortar businesses and offer visibility to your content. Another opportunity is to advertise for them using your website.
Offer what customers are willing to pay for
This is a good way to make money from your website. These tools can be physical, or online services. Popular sites such as Fiverr and Thumbtack are good examples of websites that connect people in need of services or tools with people adept at building them.
Generate leads by investing in databases
The use of databases can lead to creating more visitors that turn into loyal customers, increasing the overall traffic and as a result, revenue, for your website. Email lists are generally good for newsletters and keeping your user base abreast about the latest from your website, be it content or products. This is a long-term strategy that creates a monetary avenue by building a relationship with your customers.
Leveraging your user base to promote branded content is the next logical step towards monetizing your website. You can work with sponsors to integrate their content into your website posts for a fee. You can even create part-content, part-advertisement 'promotional' posts for an exclusive feature. This is a win-win for both parties - the sponsors get more reach and you earn money as your traffic increases.
Websites such as Wikipedia depend on reader contributions to generate money to cover the cost of operations. You can use this if you have a strong and engaging community. Donations can help you cover short-term expenses, and should not be looked at as a steady way of making money.
Selling Ad Space
This is another good way to monetize your website. Instead of implementing a solution like Google AdSense, you can directly sell advertising space on your website to sponsors. You typically get paid in what is called dollar amounts per thousand impressions, or CPM. For example, if you have $5 per CPM and get 10,000 visitors, you earn $500.
This option can work for those who have figured out the formula to attract traffic. In this, you create a website, build up your audience, and then sell it for a profit - and move on to do more of the same. There’s a big market for website auctioning and selling, and you can easily flip your websites to earn a good amount of money.
Set Up Infolinks
Infolinks, or in-text advertising, often highlight words and provides hyperlinks to related products. While info links are less effective in converting visitors to customers, they are a good method to generate income from your website by promoting your sponsor's products.
Offering premium content at a cost
With the right amount of marketing, you can generate money for your website. You need to first build a loyal customer base and steady traffic, however. Once this is done, you can then create tiered, paywalled access to premium content - creating an ecosystem of exclusivity.
Also watch: Building reader revenue without subscriptions
Paid online forums and webinars
E-Learning and EdTech are among the most profitable businesses in the world right now, and you can leverage this rise in interest to provide online classes to earn money.
Offer consulting services
Many users are on the lookout for expert advice, and you can create a platform where you can interact with these users - either through a forum, a chatbot, or even one-on-one - to answer their questions. Offering these for a fee can be a good revenue stream.
Display pop-up ads
Create ads that showcase products to your visitors. You earn money per thousand clicks on those ads. Strategically placed pop-up ads can create more revenue for your sponsors and you both. Be careful not to disrupt the website experience with pop-up ads, however.
Differentiation between free and premium content and subscription-based approaches can make money for your website. Free content generates more traffic, and paywalled, premium content creates more customers. Create or source quality free and paywalled content to retain your customer base.
This has become an extremely profitable and popular online business, especially after platforms like Kindle blew up. The best thing about selling e-books is that there's no middleman involved - you sell directly to the customer. This, however, requires additional work like setting up payment gateways, collaborating with contractors, etc. so be prepared for a few 'hidden costs'. Once set up, this platform provides a steady source of income.
Offer Services for other website owners
Many website owners now advertise freelancing for a fee - where they offer many services, including writing, for other websites. The massive number of websites has increased the need for quality content - hence the need for web writers is on the rise as well. This is a good way to earn money if you have a creative writing flair.
Consider these two facts: there are almost 2 billion live websites in the world today, with 5 billion internet users. Providing what users want behind a small paywall is often a good way to begin - and since word spreads fast on the world wide web, pretty soon you may have a profitable ecosystem in your hands. Analytics, push notifications and other tools that iZooto provides can be a handy companion in your pursuit to build your website as a money-making asset.