A site can be monetized regardless if it’s a personal blog or a commercially branded one. Here are a number of ways you can create multiple streams of income from a website you own:
Ad networks such as Google Ads are basically the easiest ways of adding an income stream to your website. However, consider that Google pays per click – visitors need to click the ad for you to get paid. There are other ad networks, like Tribal Fusion, that will pay per impression – you get paid whenever there is someone who visits your site and sees the ad. You may also check Vibrant Media and Value Click.
Flipping Websites / Build and Sell
Similar to real estate, you can build and nuture your website until it becomes profitable and/or garner some perceived value to a prospective investor, then sell it in order to generate one big lump sum of income. Flippa.com helps make the process go smoothly. Generally, you can expect a website to sell for at least three times the annual revenue, but you can expect it to go even higher depending on demand.
Sell Direct Advertising Space
This is a good idea especially for niche and vertical sites. Cutting the middlemen, the ad networks, out of the equation could potentially yield the most income from a website advertising business model. It also gives you more control over the kind of ads that appears on your site. However, keep in mind that the expectations of direct advertisers are usually harder to meet than the ad networks. You should ensure that your sites are getting several thousands or more of daily traffic before you even try to approach interested advertisers.
Affiliate marketing allows you to earn significantly more money, especially if you focus on selling expensive products or low cost products that are in high demand. It’s also not dependent on the amount of page views you get, provided the traffic you get is organic. Amazon’s affiliate program is easier for novices, but more experienced affiliate marketers should choose more niched products as they have better potential for profit.
Sell Info Products
Instead of selling other people’s products through affiliate marketing, you can instead write or create your own product and sell it directly through your blog. As expected, creating a product that can sell is much easier said than done but if you pull it off, you get 100% of the profits, making this the one with the most potential for maximum profits.
Freelancing and Coaching
Using your website as a launching pad for a career as a freelance consultant will net you the most amount of profit based on the effort and time put in. You just need to put in the heavy work at the start, while you’re building a reputation as an expert and attracting potential clients. The best thing about freelancing and coaching is the thought leadership positioning it affords you and as result nets you a considerable amount of quality backlinks to your site, resulting in even more clients for your practice.
Membership Programs and Content Locking
If your blog has content that people really want to read, as in the cases of entertainment and tutorials websites, you can release a teaser content and lock the full content under an exclusive membership access and then charge for full and/or continued access.
I hope this article has sparked some ideas on how to create multiple streams of income from a website you own. Let us know in the comment section your website monetization strategy and why you’d recommend it.