Monetize Your Site – Fast!
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If you rely solely on the sale of goods and services to generate revenue from your website, you’re missing some nice money-making opportunities that are easy to implement, and deposit cash into your business account every month.
Let’s look at some different ways you can generate cash from your online business.
The most popular are AdWords and Adsense. By enrolling in a PPC program, you agree to allow the search engine to place paid-for links on your site. Now, you can arrange these little blue cubes in a skyscraper on the right side of the page, place them below the fold, above the fold. You decide.
When you enroll, you’re given a letter/number string to insert into your HTML code that identifies you as the source of the click. And that money is added to your account. It’s a one-time sign-up and automated revenue. Those are the positives.
The negatives are (1) you have no choice which ads are placed on your site, though you can stipulate no direct competitors. If you’re placing PPC ads, you're subject to a variety of click fraud schemes, including legions of workers in poor countries who earn a penny a click depleting your marketing resources. So whether you’re placing ads or renting space for ads, there are pros and cons.
The small site owner’s best friend. You become an affiliate of a larger company. You provide a link on your site (you choose the size) and for every click-through that leads to a sale or some other desired action, you make money.
For example, if you put up an eBay link on your site, eBay will pay you a flat rate for each sign up plus a nickel any time one of your sign ups places a bid. Get a couple of hundred active bidders and the numbers add up quickly.
To learn more about affiliate programs, visit Commission Junction at www.cj.com and open an account. Choose affiliates that will appeal to your ideal site visitor. For example, if you’re selling porcelain figurine collectables online, a link to a car tire web site won’t generate much in the way of affiliate cash. Instead, sign on with other collectible affiliates to tempt visitors to clink on one of your affiliate links.
Choose affiliates with care. Too many and your site will be viewed as a links farm offering little in the way of useful information to visitors. Five or six well-chosen affiliate programs should up your site revenue quite smartly.
You can rent space on your site to another site owner – a page where the site owner posts an article with links back to his or her site. How much you can charge depends on things like your reach, traffic rank, page views and so on.
This provides a couple of benefits. First, it provides fresh content for your site, though it is important that you know what appears on your site. It also generates monthly or weekly income.
Advertise your site space on SEO blogs, site designer blogs and other places where web denizens dwell.
How would you feel about a Coke banner across the top of your web site? Would it detract from the look, the impression you’re trying to display t the world?
How about small graphic links that take your site visitors to related sites. For example, if you run a cruise booking service, chances are those travelers would be interested in other vacation opportunities – opportunities available with a click off your site. This paid advertising doesn’t rely on the clicker to perform a most desired action. Paid advertising pays either by the click or by a flat rate.
Further, the advertising will change in many cases. It may be a Coke banner for a week followed by a banner for Hertz car rental. Unfortunately, you can’t control the space you rent out – other than opting out of the paid advertising program altogether.
There are other money making opportunities using a website as a base. A subscription newsletter; monthly reminders of upcoming birthdays; outsourced services and other ways to wring some more cash out of your site.
Don’t rely on sales alone. Develop as many revenue streams as you can (without making your homepage look like a carnival midway) to enjoy max financial benefit from all your hard, online work.