In an age where internet opportunities abound, website creation and monetization are growing trends. Of course, as a 9-5 worker, making money from a site might be difficult. But it’s possible.
Just hire an expert to develop the website, and schedule your free hours for content creation. Be disciplined and show up regularly. Over time, you attract visitors and make money, and you might even consider leaving your daily job for full-time blogging.
This article gives you a more comprehensive guide.
Make Up Your Mind On Your Monetization Strategy
The odds are that you may not have an idea of which monetization strategy to choose. For some, it’d be an easy decision. For others, it may take some work.
For instance, you run a retail business already. Your website monetization strategy would be for e-commerce stores. If you are an expert nutritionist, open a blog about nutrition and get affiliate links for related products.
But not everyone knows how they want to make money. So. Here are the options.
Running An E-commerce Store
With an existing structure, this is one of the easiest ways to make money from a website. Maybe you already run a retail store. Then, your website’s goal is to expand your reach online. For a new startup, you’d cut costs otherwise spent on opening physical stores while reaching wider digital customers.
But know that an e-commerce store goes beyond the single act of opening a website. You’ll also have to manage inventory, customer service, shipping, and other miscellaneous activities.
Selling Digital Products
If you don’t subscribe to the physical activities that come with running an e-commerce store, then selling digital products might be a better fit. Instead of physical products, you sell digital goods like ebooks, webinars, consultations, coaching, and online courses. Thus, no shipping or supply chain worries.
Meanwhile, this means that you will spend enough time creating digital products. It might be weeks behind your laptop, writing books, or a scheduled online coaching session with subscribers. Once your product is ready, you may charge a monthly or one-off fee for downloads.
Affiliate Marketing Links
Especially for bloggers, affiliate links provide one of the best and easiest ways to make money off a product. It’s a monetization strategy that works on referrals. You recommend a product to your audiences and earn commissions per purchase.
Writing reviews present the best monetization opportunity through affiliate links. On any affiliate program, generate a link, then input such a link when mentioning the product in reviews. Someone clicks through, engages the link, buys the product, and you earn a commission.
Selling AD Space
Platforms like Google AdSense help you sell ad space on your site. You can determine the type of ads to choose and the proper placement on such a platform.
Thus, you earn a commission per engagement on such ads. Each view, click, lead, and the conversion gets you money—traffic on your website increases, and your ad revenue skyrockets.
Determining Monetization Strategy: A Case Study
Take the case of John, a reputed chef and restaurant owner that wants to exploit opportunities on websites. He might decide to make money through an e-commerce store, selling digital products, affiliate links, or just advertising. How?
For an e-commerce store, getting an e-commerce website that manages food booking, payment, and delivery schedule will do the job. But John will also supervise inventories, delivery, and other activities.
Meanwhile, he might opt for selling digital products. That means he can create recipe books and guides. Or better still, he might hold a cooking tutorial for interested people online.
John can also run a food blog and affiliate links when recommending food-related products. Otherwise, he can advertise restaurants and groceries. Per every purchase on his links or engagement on adverts, he earns a certain amount.
Get A Professional To Do The Website Basics
Here, there are lots of questions to be asked and much more decisions to be made. Your decision determines your website’s setup, functionality, and trajectory.
Do you want custom web development, website builders, or no code? Which programming language is the best? Do you need a content management system? How do you get the best hosting, create a good domain name and design your site?
Which one best fits your website amongst countless hosting platforms and CMS? Lots of questions to answer, indeed. But you could make the process hitch-free by getting a professional to do the basics.
That means you should get the best web development services in town. Such a company takes time to understand what solutions your website aims to provide. Then, channel the web infrastructure development and design accordingly. They also optimize your website to fit into desired monetization strategy.
For instance, web development companies like Emphasoft give you crucial advice and insights. During development, they help optimize the website for speed, provide responsive websites adaptable to screen sizes, and use the latest security protocols to secure your site.
They help align the fragments during design to create a compelling overall layout. It includes communicating effectively with colors, the right color combination, navigation, and many other things that make up a good interface.
Of course, there is nothing wrong with being a DIYer. However, outsourcing web development services means you reduce stress while getting a world-class website.
Research The Market, Your Niche, And your Target Audience
First, ask which profile of people your product will target. The whole market? No, you don’t have to target everyone. There are those core people that crave your services. Understand their profile, know them and channel your efforts towards them. The more specific you are, the better.
Imagine you run a fashion blog and affiliate links for high-end clothes. Your target audience might be people with high incomes. If it’s an online grocery delivery, your target will be women in certain areas with a certain income level. If you run a blog, research search results in your niche and write articles on it.
Market and niche research is also essential. What’s the latest development in your niche? How do you harness it to provide a well-functioning website? What are your competitors doing? For instance, you can add trending technologies like chatbots to your newly developed e-commerce website to handle customer service.
Your web development and content strategy become straightforward with a target audience and market research. Do you know which contents appeal to your audience? Whether to prioritize SEO? Which colors and designs convey your message best? How will your website infrastructure solve user problems? Amongst many other things.
Add Pages And Contents To Your Website
With audience and market research, you better understand who to target. So, start creating content regularly. Content creation is continuous and takes time and effort. So, the more you make, review, and revamp your content, the more likely you will succeed.
Know that there’s no perfect start. Your first blog post may be mid. Your ebook might contain errors. But the virtue lies in the mistakes– You learn from them and improve over time.
Moreover, you have to create content depending on your target audience profile. For example, an e-commerce site might prioritize blogs, while an affiliate website publishes product reviews. For a health-related website, the about page might be about the website’s sojourn and executives. For a travel blog, the about page will contain the traveling adventures of the blogger. So, different audiences and instances warrant different contents.
Promote Your Website
Now, your website is up and running. It’s time to roll it out to the world. The number of visitors to your website determines traffic, which in turn reflects how much you make. There are two strategies; paid and organic.
By paid traffic, you pay for ads. Thus, your products appear on search results, social media platforms, etc. Meanwhile, organic traffic involves using SEO strategies to rank your website. By writing quality and SEO-optimized content, you appear in user search results. Then, having landed on your website, you’re better placed to convert such users into leads and sell your products.
While both strategies are good, they have different use cases. Paid traffic is better if you want immediate results. But organic traffic takes more time but gets adequate results long-term. It’s often advised to combine both strategies to get the best results.
Website monetization is a long-term and continuous process. The best websites are known for getting regular user feedback about their products. Then, working on their mistakes to deliver better results. So, your work is just getting started after developing and promoting your website.
You’d have to run regular maintenance, Upscaling your website to incorporate new features and more users. As a result, users derive satisfaction from your website, and retention increases while revenue troops in and your website efforts become successful.