Whether you are looking to start a small side hustle or build your entire monthly income out of it, monetizing websites is one of the most popular and perhaps more profitable ways to achieve it.
“But aren’t eCommerce websites the only ones that can get me profit?” If that’s what you think, the answer is NO.
There are numerous other ways to make money through a website. While online stores do play their part, they aren’t the only options. And nowadays, almost anyone can grab a slice of the sweet profit pie, and this article will show you how.
A few methods of monetization listed below are simple, whereas others are a bit more complex. However, each of these methods will work wonders when done right. If you have always thought eCommerce sites are the only way to generate income through a website, get ready to relearn how to monetize a website.
No, we aren’t talking about printed magazines and newspapers that people pay subscriptions for. These days, anything from accessing software to online tutoring and reading/ viewing premium digital content can be monetized through a subscription model.
The subscription eCommerce market has grown more than 100 percent in the last five years, and it is still an excellent method that guarantees recurring revenue.
The subscription model works best when you have a product or service to offer that people can’t buy physically but need access to regularly. For instance, an Odds Calculator is a perfect example, where you pay a monthly fee to continuously get insights into the odds of games for sports betting.
If your website is popular enough, you will also be able to place premium content behind a paywall. So, your visitors will have to pay to access that content. Now, this is a risky strategy, especially if all your content was initially free. However, if marketed right, it will turn to be a decent little money-spinner that makes your visitors feels like they are part of an exclusive community.
Setting Up A Subscription Model
Often, the platforms you used to create your website will allow you to create a ‘members-only’ area protected by a username and password that your visitors will enter. The username and password will be provided to users when they subscribe.
Use this area to store all your premium content—articles, podcasts, research videos, and more. You can also give away free merchandise to subscribers to boost your brand’s appeal.
Sell A Service
Another common way people use to make money online is by selling their services. The service you offer can be anything from creating tailored diet plans to a home cleaning business.
Selling a service works pretty much the same way as online stores, but the big difference is that you don’t need an eCommerce-specific website builder.
Selling Your Service Online
Website builders such as Squarespace and Wix are easier to use than most eCommerce platforms. They allow you to choose from numerous pre-designed templates and the drag-and-drop editor helps you add more features and move anything on your website to anywhere on any page.
When it comes to selling a service, the trick is finding your USP (unique selling point). What makes your service different from your competitors? Why should people buy what you are providing?
‘Sponsored post’ is currently a buzzword on Instagram. It’s synonymous with influencers who leverage their massive follower base to promote products and services in return for cash. However, it’s not just for Instagrammers, though.
As your website continues to grow, you will find companies that reach out to you in hopes that you will promote their brand. Nonetheless, be careful—to keep your reputation intact, you will only want to promote sponsored posts that fall in line with visitors’ interests. For instance, if you run a site that reviews and compares furniture, it wouldn’t make sense to promote content from a company that sells watches.
Additionally, there are also strict guidelines that you should declare to your visitors the content you are producing is sponsored. So, if you consider doing sponsored posts, ensure you go through the FTC guidelines first.
Over the years, people have thought eCommerce websites were the only option to make money online. However, these days with the Internet continuing to grow, the opportunity to make money online with a website is countless. There is a wide array of ways to dive in and grab your share of the money pool that hides behind the Internet. What’s more, it isn’t even limited to large websites. So, try out some of these methods listed above, and we are sure it will work out.