With a website that has traffic, that means that people are attracted to walk into the ‘shop’. The chances of people walking out buying something increases with the volume of traffic to your website. Generally, the higher the traffic, the higher conversion of a shopper to a buyer.
The two main ways you can monetize your website is either through selling a product or offering a service. But there are more than 2 ways to earn a revenue, such as selling your space for advertisement or offering an online course or a webinar.
Here are 4 most common ways
Sell Advertisement Space
This can be done through asking for businesses or people if they want to advertise their products on your website. This can be done manually by asking potential candidate to write to you and arranged how to put their ads in and how you are to be paid.
There are more convenient ways by subscribing to services such as Google Adsense and have the ads pushed to your website as you get paid by Google Adsense for using your website as space for their client’s advertisement. Check out Google Adsense for such a service.
Sell A Product (If you have a product)
You may have a product (or a service) to sell to your visitors. Of course, the price will affect the level of people buying and that itself will depend on the value of the product you’ll be marketing to your user. Proper explanation and training will increase the value of the product or services you give to your customer. Products are usually physical object you can touch but nowadays it is very common to deal with digital products for customers to download.
Sell An Affiliate Products (If you don’t have a product)
You may NOT have a product (or a service) to sell. Then what happens? Don’t despair, there are thousands and thousands of company offering affiliates products they can market on their website. Large companies such as Amazon, ClickBank, Apple and Walmart to name a few.
If an online business provides a good review of the products that the affiliate companies offer, people may buy from them through your website and the company will pay a commission to you.
Affiliate marketing as this is called today is a billion dollar industry so there’s space for anyone. This way of selling is an established way to begin your online business as the opportunity is huge.
Sell Your Website
Finally if you have a website known to have great traffic and generating a revenue, the final way you can monetize your website is to sell it. Selling a website together with your online business is easy nowadays and sometimes just take a month from advertising it to the complete handover of the website to the new owner. Check out services like Flippa.com
This can be a lucrative business if you are the pioneer kind where you like to start businesses to get it to a certain level of success but you don’t want to spend the time maintaining it prefering to move on starting new websites.
In conclusion, making a substantial earning or even some a full-time living with an online business isn’t just a theory anymore, it is a reality for many people.
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