You should diversify the ways you make money if you want your site to be consistently lucrative. You can find plenty of methods for generating revenue, and you should try them out to see what mix best suits your website. Here are five ways your site can you make you more money.
- Affiliate programs
With these programs, you earn commission from each purchase made through your website. Amazon Associates is probably the most well-known of the affiliate programs, although you can find many others that function the same way.You shouldn’t expect to make money from these programs unless you take steps to make your site affiliate-friendly. Darren Rowse, who had earned nearly $120,000 from Amazon Associates program as of 2010, reflected on the experience in his blog, Problogger.net. He attributes his success to a number of factors: his site experienced enough to traffic to bring in money, he has a loyal readership, and he makes sure his links are given context, not left to float on the side. His endorsements are also genuine, which they should be for the best long-term effects: “While there’s some temptation to hype up a product and only talk about its positives a real review will help your reader relationship over the long haul and I find actually helps promote sales.”
- Cost-per-click advertising (CPC)
Cost per click, or CPC, advertising is common, especially after Google AdSense helped popularize it. Websites with CPC advertising are scanned by programs that try to figure out what a page’s content is about. Using context, the program then determines which ads run on your site.
Keyword density is important for that reason. The most frequently repeated words on your page – including the headers, footers, and menus – inform your ads, so they need to be accurate. Keep each page on your site as specific to one idea as possible, which will help ensure you get correctly targeted ads, which then increases the chance that readers will click on them.
- Cost-per-impression advertising (CPM)
If you have a high-traffic website, this could be a real moneymaker for you. The concept is close to print advertising. There, you often put out an ad in a magazine with a particular number of readers per issue, and you expect a certain number of eyes to rest on your advertisement. The difference in cost-per-impression advertising is you pay for each time a person is exposed to your ad online.
Costs are for every thousand impressions, which is where its abbreviation, CPM, comes from – the M stands for mille, as in thousand. If you have an established niche website with many loyal readers, you can expect to earn a sizeable amount through CPM advertising.
- Fixed cost advertising
Websites with a large, loyal audience and credibility within its niche are in a great position to get advertisers to pay a fixed sum in exchange for placing their ad on your site. Make an effort to get in touch with people whose products and services align well with the topic of your website. That way, you are providing relevant, quality products to your readers through advertisements, and the companies who chose to advertise with you get a solid return on their investment.
You should also maintain good relationships with advertisers. Pat, who makes considerable money from his blog, Smart Passive Income, advised his readers to build relationships with companies who may seem like competitors because you can help each other out more than you think: “Many of these companies eventually began linking to my site promoting my own material that was not in direct competition with their own. One company in particular, for the last few years, has been an amazing partner site that always keeps me up to date on the latest going-ons in the industry and has allowed me to become one of the only affiliates for their products.”
If what you offer is valuable and unique, some people will be so thrilled that they want more. Give it to them – but not for free. Establishing a continuity program, such as a subscription, allows you to earn more, while providing loyal visitors the opportunity to learn more about a subject they value. You both win. Be sure, though, that the content you’re providing for an added cost lives up to your customers’ expectations, otherwise there could be backlash.
When it comes to making money online, there isn’t a “one size fits all” strategy. You have to test out various advertising methods and see which works best for you. Incorporating several forms of advertising into the mix offers the best chance for optimum results.