Do you want to create a website but not sure how to monetize it? In other words, you don’t know how to make money online and justify the cost of your website development?
Don’t worry you are not alone.
As a web development company in India, we get hundreds of enquries every month and most of our prospectives ask us questions like:
- How can I make money from my website?
- What are the different ways to monetize a website?
- What can I sell or do on my website to make money online?
- How can I justify my website development cost?
- And more…
If you too are wondering about the best monetization methods that you can apply on your website and make money online, this blog post is for you.
In this blog post, we have shared 7 best & most popular ways to monetize a website.
Let’s get started!
#1 Selling products
Selling products online through a website is perhaps one of the most traditional yet effective methods to make money online.
All you need to do is:
- Hire a website builder and create your e-commerce store.
- Populate your website with products.
- Connect your website with any payment gateway such as PayPal, Stripe etc.
- Start marketing your website to get traffic on it.
- Sell your products online & receive money.
- Arrange for the product delivery to your customers.
So, if you already have some products to sell or you have some arrangements to procure the products at a cheaper cost, you can set up an e-commerce store and start selling online.
#2 Selling services
If you are good at something, or anything, you can offer your services and make money online.
All you need is a simple website design to showcase your services and encourage your potential customers to engage you.
If you are wondering what could be the services that you can offer online, here are some of the most popular services that you can offer and make money:
- Investment consultancy
- Content writing
- Human resource management
- Health & fitness advise
- Web design & development
- Graphic designing
- Online marketing
- Online leads generation
- Online sales
- Legal advice
- & more…
So, if you think you can help people by rendering your services, you can set up a website and reach out to your target audience.
#3 Affiliate marketing
What is affiliate marketing?
Affiliate marketing is the process of promoting & selling someone else’s products on a commission basis.
There are many merchants/sellers who are always looking for new affiliates to grow their sales.
How does affiliate marketing work?
- You signup with a merchant or affiliate network.
- You get a referral code.
- You use the referral code on your website or other digital assets.
- You get traffic on your digital assets who further click on the referral code and go to your merchant’s website and buy their products.
- You get a commission on each sale.
All you need is a professional website and a good amount of traffic on it. There is no limit to how much you can earn with affiliate marketing.
Of course, it requires some time, patience & strategies to make money with affiliate marketing, but it’s really worth it.
#4 Selling leads
Selling leads is yet another popular way to monetize a website.
You can leverage your website traffic to collect leads and sell them to the appropriate companies or buyers.
One important thing to note here is that you must publish the disclosure statement on your website so that your visitors know that you will be selling their information to the relevant companies.
It could attract many serious legal complications if you don’t disclose the purpose of collecting the leads, especially if you intend to sell them.
Dropshipping is a great business model to make money through your e-commerce website without investing any money on product procurement, manufacturing, or inventory.
How dropshipping works?
- You set up an e-commerce store.
- You publish the products of sellers from different dropshipping networks such as AliExpress, eBay, etc.
- You sell them online & receive payment in your own account.
- You place the order with the respective sellers on the dropshipping network.
- These sellers will then arrange for the delivery (either free or paid shipping) of products to your buyers without disclosing their own brand name.
Dropshipping is good if you are a start-up or if you don’t want to invest any money on products. It also makes the whole experience of e-commerce business hassle-free.
Additionally, there are many plugins & modules that your website builder can integrate with your website and fetch the products from dropshipping merchants in just a few clicks.
It means that you don’t have to manually upload or copy & paste the products from the sellers’ webpages.
#6 Accepting donations
Do you work on a non-profit business model? If yes, you will be glad to know that you can still make money from your website.
You can simply integrate a PayPal plugin or module with your website and start accepting donations from your users.
Below are some of the examples of people or companies who work on a non-profit business model:
- Bloggers who provide useful information at no cost.
- Developers who build free-to-use plugins or modules.
- Teachers who help the students community without any charges.
#7 Subscription based content
There are many websites that make money by writing content and make them accessible to their paid users only.
If you can also write some useful content that can help your target audience to grow, you can build a website that has subscription-based content.
One important thing to note here is that the content that you want to sell on your website shouldn’t be freely available on other public domains.
Here are a few examples of subscription-based contents:
- Latest news
- Useful data or statistics
- Sample questions for various exams