The web has given us so many benefits (and it has its disadvantages but that is for another discussion), one of them being able building your own online business by creating websites and monetising them through various ways.
Making money online is more than possible,however,with the internet full of get rich quick schemes,people fall under the false belief that making money online is easy. It is not,however,with hard work,consistency and a never give up attitude,it is more than possible.
So even if you do not see success straight away, do not give up, keep working at it and try different methods of monetisation and see what works.
One of the reasons people fail at making money with a website is because they get discouraged by early results and give up too quickly.
There are multiple ways to monetise your website or even other people’s website, in this article I will provide 10 methods of ways to make money online. Some are easier than others but all of them will require you to put in the time and effort to make them a success.
Now I’m not saying you will become as rich as Jack Dorsey Or even Mark Zuckerberg but done right and with consistency, some of these methods can be very financially rewarding.
This is my favourite way to monetise websites and blogs and how I monetise my own websites (including this one).
Affiliate marketing is one of the best ways to start an online business,it doesn’t require much investment to get started and is a very popular method for people who are looking to make money online.
One of the biggest affiliate networks is Amazons associate programme, it is an affiliate network that most people join first because it is easy to get accepted into the programme.
Since Amazon sells nearly everything under the sun, your choice on what niche to choose is near limitless, some of the best places to search on Amazon for untapped niches is in sub-categories.
However,if Amazon doesn’t have anything that interests you as an affiliate marketer (highly unlikely but still possible),there are plenty more places you can find good affiliate programmes.
You can easily search for affiliate programmes in your niche by searching for the product/service + affiliate programme.
For example, if you want to find affiliate programmes for web hosting (really lucrative niche) just google ‘web hosting affiliate programmes.
Or you can join one of the many affiliate networks and search their database, there are so many but these are the ones I have joined.
There are a variety of ways to promote affiliate products on your website, you can write a review of the product/service, you can write up a list of top selling items in the category your product is in and promote yours as the number 1.
Most affiliate offers also have banner ads that can be placed on your website, but these need to be placed in strategic places for maximum conversion. Read more on banner ad placement here.
Many offers have high compensation rates
Not much investment required
Promote almost anything
Many affiliate networks allow junk products to be promoted
Vendors can close their programme without notice.
When I first considered monetising my website with Google AdSense, I received a lot of bad advice.
Basically, I was told, it’s not worth it because it’s based on CPC advertisement (Cost Per Click) and that the CPC rates were usually low.
It’s why I never applied but later I found out that if done correctly, monetising your website through Google AdSense can be very fruitful.
So, what is CPC advertising? Well, they are ads that are placed on your website and whenever someone visits your site and clicks on them, you get paid a certain amount.
The ads come in a variety of formats and the pay rates vary but according to Search Engine Land you get 68% of the revenue that Google makes from advertisers and 32% is kept by Google.
How much you earn also depends upon the niche you are in, the volume of traffic you receive daily, visitor behaviour and demographics as well as many other factors.
Niches that do well in Google AdSense are Technology, Insurance, Internet marketing, web hosting, relationships, and health.
So, if you are in any of these niches and are not monetising with Google AdSense you should think of doing so.
One of the best courses for making money with AdSense is from Chris Lee who runs the popular blog rankxl.
His training, Niche Site Course, focuses on monetising your websites with AdSense and it takes you through from niche selection to getting high powered backlinks.
Easy way to monetise
Good source of passive income
Hard to get accepted
Need good traffic volume
Many niches are not worth it
Getting approved for Google AdSense is getting harder so it’s always good to have alternatives just in case you do not get approved.
One of the best alternatives to Google AdSense is infolinks, this ad network isn’t hard to get approved with and it has pretty good CPC.
The other good thing about Infolinks is that it doesn’t need ad space, I t highlights certain keywords within your article and whenever a visitor hovers over it, an ad is displayed.
Although one of the drawbacks with these kinds of advertisements is that a lot of people find them annoying and sometimes the ad isn’t relevant to the article.
As well as in inText ads, Infolinks can also deliver inSearch ads, inFrame ads and inTag ads.
The approval process isn’t long and usually, people get approved within 72 hours.
To get ads running on your site doesn’t take long as well, you just need to paste a piece of HTML code on your site and iInfolinks technology will do the rest.
Earn 70% revenue
Easy to get approved
Ad integration isn’t difficult to implement
Multiple payments methods including PayPal and Payoneer.
Makes website look Spammy
User experience is diminished.
4.Sell Ad space
Google AdSense and Infolinks are just one way of monetising your website through advertisements.
You can also sell ad space on your site to many advertising networks who want to buy ad space for their clients.
There are two methods to getting paid when selling your own ad space.
The first is having a fixed monthly price, you get paid upfront and the ad is displayed on your site for an agreed upon period.
The other is getting paid per one thousand impressions or CPM (Cost-Per-Mille), ad networks pay a certain amount for thousand impressions your website receives.
So as you may conclude, you really need a good volume of traffic to make some decent money from this method.
You know how much you can make
Easy to monetise
Can scale up as you increase traffic to your site
Need some serious traffic for it to be worthwhile
You may or may not have noticed sponsored content on many news sites, they sort of blend in with the whole website and sometimes it’s difficult to notice that they are sponsored content.
These posts usually have a disclaimer at the top that it is a sponsored content.
Another type of sponsored content you may not have noticed is called native ads, these are usually placed at the end of an article and usually look like natural links to other parts of the website.
Getting sponsored content or native ads is tough because you do need large amounts of traffic and have relevant content so these types of monetisation models will not work on low traffic websites.
Lots of networks offering sponsored content
Need huge amount of traffic
Membership sites are a great way to monetise your website, as long as you offer great products or services, membership sites can thrive and even bring a 6-7 figure income.
Creating your own online training course can also be very lucrative, websites like Udemy, Cousera and Skillshare amongst many other uses this model to generate income.
Or you can Create your own software and allow access to it for a monthly fee, there are so many ways you can make money with this model. Just need to think outside the box and offer what no one else is offering.
Can be scaled to 6-7 figure salary
Strict control over what is offered
Name your own price
Needs a lot of effort to get started
Sites must be constantly updated to keep content fresh
May have to deal with a lot of disgruntled customers
Ecommerce is growing at an exponential rate and the growth is set to continue as more and more people do their shopping online.
Luckily despite its growth, it still represents a small fraction of the overall retail sales and so there is still plenty of opportunities for people to carve out a good income from this industry.
The hardest part of starting an ecommerce business is finding a winning product that you can scale and grow your business with.
I have written an article on ways to come up with niche ideas for ecommerce.
One of the most popular ways to start an eCommerce business is through dropshipping,dropshipping is an eCommerce fulfilment method in which store owners do not handle any of the inventory they sell. Instead,the packing and delivery is carried out by the supplier.This method saves the store owner a lot of money,the drawback is that the profit margins are usually (not always) much smaller than the traditional method of running an eCommerce business.
If you are interested in starting a dropshipping business,be sure to check out Alidropship,they are a company that have developed a WordPress plugin that makes running a dropshipping business much easier.
Lots of products to choose from
Can be frustrating finding a winning product
A more hands-on approach than other methods mentioned on this list
Finding reputable suppliers can be tough
8.Build an email list
You may have come across the term ‘the money is in the list’, what this refers to is an email list.
It’s common knowledge that as soon as you enter the world of online business, you will enter into multiple email lists.
Some may give a lot of benefits, for example, I am on the list of several SEO gurus like Brian Dean, Neil Patel, and Glen Allsopp, these lot provide a lot of value in their emails and website.
This is the kind of email list you should look to build within your website. Provide a ton of value and your visitors will want to buy from you whatever you pitch to them later on.
This is a long-term approach, as you will need to grow your email list well into the thousands to monetise it properly.
There are marketers who simply build an email list just to sell to their customers, now I’m not saying that is bad. It’s the way these marketers go about doing it that isn’t to my liking.
They constantly bombard your email account with offer after offer, now this too wouldn’t be so bad (although I personally despise it) if they offered products that were not just about how to make money online.
How are their customers supposed to take action on one product, when they constantly being bombarded with several offers a day? Totally unethical.
Anyway, enough with my rant, building an email list can hugely profitable, but just remember not to confuse your customers with rubbish products promising them the world.
If making money online through email marketing is something that interests you,I highly recommend a product called Cover Commissions. This is a done for you email marketing system that is perfect for newbies.
Easy to build
Can take a long time to build a list that can be monetised properly
Writing emails with tons of value can be time-consuming
Promoting rubbish products to your list can affect your reputation.
9.Provide a service
There are many services that you can provide through your website, services that are high in demand and ones that make a great business to run.
Providing digital services like SEO and web design are very lucrative and can even be done if have no expertise in either of those areas. How? You can become a reseller, websites like seoreseller and the Hoth will give you wholesale prices for their services and all you have to do is resell them at your own price.
Of course, you will have to go out and find clients but the hard part is taken care of so essentially you have one thing to do which is find clients and retain them.
Easy to set up
Many more options other than just web design and SEO services (graphic design, logo design, social media services etc)
Initial difficulty in finding clients
10. Flip Websites
Flipping websites is extremely profitable,you can sell a website for 12-18 times its monthly revenue.
So, say you have a website doing $500pm, with the right broker, you can get anywhere between $6-$8000 for that site.
Even if you have a few websites doing $100pm selling them at 12-18 times the monthly profit is still very profitable.
For more on website flipping read this post by one of the leading brokers for buying and selling websites.
I have just listed 10 ways of monetising your website, there are many others which I have not mentioned but which can be just as lucrative.
The web has given us so many benefits and making money off it is one that we should take advantage of.