Your website is much more than an online brochure. It is actually an online asset. It can be used to generate residual revenue for your business. There are a number of ways to create residual revenue streams for your business from your website that can be a healthy income addition to help fund your business growth.
So what are the ways in which you can create an income with your website? There are 10 ways to generate revenue with your website. Depending upon the site you have and your business, some of these ways may work better than others.
So what are the different ways in which you can create an income with your website? Here they are:
1) Ecommerce – selling products and services from your website. Even if you are a service oriented business, you can sell your expertise in the form of an ebook. This is an excellent way for consultants and coaches to additionally monetize their knowledge.
2) Affiliate Marketing – selling other’s products and services from your website. If you specialize in offering a certain expertise, and you believe that offering a complimentary product or service will serve your clients, then if they have an affiliate program, it would be a great way to support you clients/customers while creating additional income for yourself as well. When a visitor you refer to the vendor purchases their product, you receive a commission from that sale.
3) Text link advertising – getting paid for clicks on your website. One of the most well known and popular text link advertising is Google Adsense. Everytime someone clicks on one of these links, you get paid. Other text link companies include Kontera, and Chitika. Some work better than others depending upon the topic and type of website.
4) Website sponsorship – Having a business sponsor your website which will give them prominent placement on the site. Sponsors can pay a monthly, yearly, or one time fee to have prominent placement on your web site.
5) Paid blogging posts – there are programs out there that will pay you to blog about a specific product or service. This isn’t really residual revenue because it requires your time to do it in order to get paid, but it is a way to generate revenue with your website.
6) Featured directory listings – you can place a directory on your site of products and services related to your niche. You can charge for featured placement in the directory. It’s easiest to have software that can manage this for you. There are several different versions of this directory software out there to take advantage of.
7) Email marketing – promoting products and services via your email list. This works for your own products and services or another’s as an affiliate. Placing a sign up box on your website for your mailing list and growing that list should be everyone’s objective. The larger and more targeted your mailing list, the more you will receive from your email marketing efforts.
8) Sponsored Email Marketing – selling ad space on your mailing list. You can also allow other businesses premium exposure to your mailing list via a sponsored link or banner in your email with a thanks to the sponsors. Again, the larger the email list, the more you can charge.
9) Membership sites/Premium Content – having a place on your website that only members have access to. Membership sites are a great source of residual revenue and a way to monetize your content. The thing you have to remember is to really offer value to the paid members. The content they receive in the paid section would be content that can’t be found anywhere else.
10) Lead generator – getting leads for you business or to sell to other businesses. You can use your website to collect qualified leads of people who want to know more about a specific service to fulfill their needs.
These are 10 ways to generate revenue with your website. If you know of others, please share them in the comments. I’d love to hear them!
Of course, you can use more than one method at a time, but make sure they don’t step on each other. For instance, if you have a membership site, putting lots of banner ads and adsense inside the premium area will drive away your members, and devalue your offering in their eyes.
If you want help in monetizing your website, contact me through this website. I’d love to support you in turning your website into an online asset.
text link companies Kontera, and Chitika are good ones!!
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