Making money from your website is crucial for anyone with an online business. There are four basic methods for creating money streams with your website:
- Advertise
- Refer (Affiliate)
- Sell
- Get donations
Each method has its own uses and benefits.
Advertise
Advertisers pay money to be where their potential buyers are. Traditionally they have used newspapers, magazines, radio, and television. In each case, the advertiser bargains for a certain amount of space or air time in the media of their choice. They will pay more for publications and shows that get more views by the people they want to influence.
As a website owner, you can make money from advertisers by placing their ads on your site. The amount of money you make depends on the agreement you have with the advertiser, which usually depends on your ability to demonstrate that people have clicked on, or at least seen, the ad.
A simple way to get started with advertising is to sign up with a Pay-Per-Click (PPC) Network. Google’s AdSense is an example of this. You can create a free account that will track any money you earn through PPC. Once the account has been created, you can easily select the type of advertising display you want on your website.
AdSense provides code for you to cut and paste into your site. The advertising will start to show up about 10 minutes later. The ads are intended to be related to the content on your website.
You will earn money based on Cost-Per-Click (CPC) or for Cost-per-Thousand-Impressions (CPM), depending on the ads that are displayed. The amount for each click or impression is tiny, so you will need a lot of activity on your site before any checks arrive in the mail.
Adsense is just one of many PPC Advertising Networks. Some of the other more popular networks are:
Refer (Affiliate)
Affiliate marketing is a popular way of making money on the internet. Affiliate programs consist of vendors and publishers. Vendors create products or services. Publishers advertise and recommend those products and services. As a website owner and publisher, you get a commission whenever someone buys a product or service through one of your affiliate links.
The amount and timing of the commission depends on your agreement with the vendor. Commissions range from around 5% all the way up to 75% depending on the vendor and product. Some vendors pay right after a sale has been made. Others wait until their return period is over. Still others pay some of your commission right away and hold some back until they are sure the product will not be returned.
One of the best ways to learn about affiliate marketing is to sign up with a network like ClickBank or Commission Junction and get started. At ClickBank you will sign up as an “affiliate.” Commission Junction will ask you to sign up as a “publisher.” In both cases it is free to sign up as an affiliate/publisher.
Now you are ready to select the “vendors” or “advertisers” you want to work with. Your vendor/advertisers will provide information about their products and how much commission you can make. Typically they will also give you a choice of text links, images, and banners you can use on your website. When your viewers click on one of these, they will be taken to a destination page where the sale is made.
Affiliate marketing can be an easy and lucrative way of selling products and services without having the burden of product creation, delivery, or customer support. There is virtually no cost to get started, so it makes sense to jump in, then improve as you go. For more information, take a look at the Super Affiliate Handbook, by Rosalind Gardner. She gives you a step-by-step guide and shows you the ‘ins and outs” of making money with affiliate marketing.
Sell
Selling your own products or services is another way to make money with your website. The possibilities for this are endless. Here are some of the more common ways people sell with their websites:
Generate leads for your on-the-ground business: Use your website to create credibility for your business by giving visitors information, useful tips, and success stories. Prominently display an easy way for them to contact you to get personalized information about a product or service.
Sell your product or service directly from your website: Add a shopping cart to your site and give your visitors a quick, easy way to make a purchase immediately.
Create and sell an information product: Good information is always valuable and people are willing to pay if it is presented the right way and perceived as useful. EBooks, printed books, recordings, interviews, and videos are just a few examples of information products. To create a winning product, think about what your customers want and find a way to deliver it.
Get Donations
Asking for donations can be effective if your website is an online presence for a not-for-profit organization. Some people will also donate simply because they like what you have on your site, or as a thank you for software or other items you offer for free.
Paypal offers a quick and easy way to set up a donation button. Sign up for an account and follow the instructions to create a donation button.
More Information
This article was intended to give you an overview and a place to start thinking about how to create money streams for your website. Keep your eyes open and you will find a number of lists and articles written about monetizing your website. One of the best is 28 Ways to Make Money Online with Your Website, by Daniel Scocco, owner of Daily Blog Tips. Take a look at this article to get and idea of the many possibilities for making money, especially once your website begins to attract a significant amount of daily visitors.
