Have you explored every possible way that your site could be bringing in extra income? When was the last time you considered adding an additional revenue stream to your blog or site? You should be re-evaluating the ways that your site can earn money at least twice a year. There may be infinite ways of monetizing a site, but the following 11 ideas are a way to jumpstart your evaluation process.
My hope is that by giving you a mix of ideas and explanations, you can find the monetization methods that work best for you, your site, and your niche market. Generally speaking, it’s usually best to diversify, using a mix of methods, so if one revenue stream dries up for any reason, your other methods are still bringing in some income. Watch the video, or read the text below the video.
1. Sell access to premium content.
This works best when it is in the form of a membership site, in which members pay a monthly fee to access exclusive content. If you’ve got premium content, you can quickly make a lot from a membership site.
2. Review products, earning affiliate commissions from referrals.
When done well, review sites can attract lots of search engine based traffic, and can be one of the best earners out there.
3. Sell your own info products such as ebooks, videos, and audio “how-to” information.
Absolutely everyone has the ability to create their own high-quality ebooks and video products these days. And with services such as eJunkie to handle the orders and delivery of the downloads, it doesn’t get much easier.
4. Sell your own non-info digital products such as templates, graphics, and photos.
5. Sell your own physical products, such as t-shirts, hand-made items and published books.
6. Run a marketplace/auction that allows others to list items for sale
You let others list items for sale on your site, and in return, you either receive a listing fee, a portion of the sale, or both. Running a classified listing service is similar to running marketplaces or auctions, but it is more generic, and with less interactivity. Classifieds would consist of simple listings, with a fee charged for each. And of course, with easy to use WordPress themes, like this classifieds theme, it’s just plain easy.
7. Host or share sponsored content
You are paid to post sponsored content (such as a blog post that an advertiser pays for), or you are paid to share sponsored content, such as a paid tweet. The best place to start with this type of monetization is at Izea, where you can sign up for SocialSpark, Sponzai, or Sponsored Tweets. Technically speaking, sponsored tweets aren’t exactly monetizing your “site”, but if your Twitter account is tied to your site’s brand, then in effect, it is a method of site monetization.
8. Sell your own services.
Some service examples include consulting, designing, programming, freelance writing, marketing, etc.
9. Run a job board in your niche
Running a job board is a great add-on to any site, and with WordPress themes such as Job Board and Job Press, it couldn’t get much easier. Basically, you charge a fee for each job posted. Job seekers search for free, but you could charge for premium services such as hosting resumes, helping job seekers create resumes, selling access to premium content such as guides to successful interviews, etc. A good way to know what you can offer is to run through some of the popular job boards as if you were looking for a job. What’s missing? What do you wish they had for you but they don’t? Can you supply that others in your niche?
10. Sell banner ad space.
This could be through ad networks such as buysellads.com or via one-on-one sales negotiated directly with advertisers.
11. Serve Google Adsense ads or any automated ad network ads.
The easiest, but not always most lucrative, method is of course, slapping Google Adsense on your site (or some equivalent, though there’s not much in the way of equivalent choices).
The bottom line here is that you can increase the bottom line of your site’s income, just by getting creative. Most of the pain has been taken out of the equation over the years, as there are services, products, and vast quantities of information to help you handle almost any aspect of monetizing your site using these ideas. Stop limiting yourself with just the occasional banner ad, and move towards an increased level of freedom. Freedom? Oh yeah, freedom. Freedom is what comes with that extra bit of security, known as a bank account that isn’t teetering on the edge of emptiness. So start thinking, and start working towards that extra level of freedom. Good luck!