Your 4th and final step is vital to your success. Let’s talk about exactly how to make money from a blog.
Monetization is the process of making money from your website.
This is where having knowledge about affiliate marketing is very important. If you haven’t done so already be sure to check out “What is Affiliate Marketing?”
There are three different ways to make money from your website. You can sell your own product or service where you’ll earn 100% from the sales you make, you can sell someone else’s product or service for a lower percentage of the sale or you can sell advertising space.
- Products – Sell your own product or service.
- Affiliate Programs – Sell someone else’s product or service.
- Advertising Space – Your own ads space or someone else’s ad space like Google Adsense.
1) Make Money by Selling Your Own Unique Product
Selling your own unique product or service has 2 major advantages.
- Low Competition
- 100% Profit Potential
But it also has it’s disadvantages as well. In my opinion, it’s not so easy to have your own product or service. You’ll need money to make your product or service. There might be laws and regulations you’ll have to abide by in order to sell your product or service to the public. You’ll also have to take orders from customers, deal with complaints & returns and you’ll have to package and deliver your product or service to your customers.
All very doable but could be hard depending how ambitious you are. If you have your own product (like your own ebook) or your own service and want to sell that product or service, then good for you!
That’s another great way to monetize your website.
2) Make Money by Selling Someone Else’s Product: (Affiliate Program)
Selling someone else’s product or service thru an affiliate program or network has 2 disadvantages.
- High Competition
- Lower Profit Potential
But it also has it’s advantages as well. In my opinion, it’s a little easier to sell someone else’s product or service. You don’t need capital to make the product or service, you won’t have to take orders from customers, deal with complains & returns plus you don’t have to package or deliver that product or service.
Everything is taken care of by the company you are selling for. Amazon and ClickBank are perfect example of this. All you have to do is refer the customer to the company and the company will pay you a commission for the sale.
Both have advantages and disadvantages. The beauty of it all, is that it’s your business website, you’re in charge and can decide which one works better for you.
Clickbank offers other peoples informational products you can sell for great commissions.
3) Make Money Selling Advertising Space on Your Website
Selling advertising space on your website is another way to monetize your website. There are 2 ways you can do this.
1) If you generate enough traffic, you can offer advertising space on your website to clients that want to advertise their website business.
I know it may sound a little counterproductive for your website business but if you have extra space on your site and like the idea of earning steady monthly income from advertising fees this may be something to think about.
Don’t forget you still can sell your product on your own site as well. The advertising fees would be extra money for you. Not a bad deal!
2) Google AdSense is another simple way to get paid for putting Google ads on your website as well. The way it works is you put a special Google AdSense code on your webpage and Google places targeted ads pertaining to your niche site. If someone clicks on the Google AdSense Ads, you will earn a small commission from Google when visitors click on the ads.
Not a bad way to monetize your website.
However, the disadvantage of this is that your visitors will be clicking away from your site to someone else’s site taking away sales for your own product. Plus your site might look a little cluttered from all the Google ads.
In other words, if you get a lot of people clicking away on those ads, you could earn some fast easy money.
You could make a few cents per day, a few dollars per day or hundreds of dollars per day.
It really all depends on how many visitors you can generate per day and the click thru rate you get that will determine how much money you will earn.
In my opinion, Google Adsense Ads are becoming less and less effective. I don’t know about you but when I see them on other peoples websites, I tend to get annoyed by them and I sometimes even leave the page. Plus I don’t think Google pays that well for the clicks. But ultimately, it’s your website and it’s up to you if you decide to place AdSense ads on your site.
In conclusion, those are the three main ways you can monetize your website. Think about which ones you would like to add to your site to make money and go for it.
<——–Back to Step 3 How to Generate Traffic to a Blog
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