Making money from your website is as much as a reality as anything and employing the right mix of income-generating tools will assist you in maximizing income from your website. If you haven’t thought about the strategies and opportunities to monetize from your website than it’s time to make some decisions. Contrary to quick-rich-schemes, making money from websites is neither quick nor easy. But through persistence and focused strategy, the process is exciting and rewarding.In general, the profitability of your website or blog depends on various factors – Niche, Traffic, and Content. While some sites rely heavily on traffic and unique visitors to generate income, others rely on a specific Niche market. Whether your website is Niche based and/or Traffic based, below is a comprehensive list of ways to monetize from your website.Let’s Begin!Strategies of Monetizing from you Website1. PPC or (Pay per Click)How it Works: Various networks place advertisements on your site that are relevant to your content and business. After signing up, the network provides certain codes that you would place on your website. Advertisements can either be text or images.Getting Paid: When a visitor clinks on the ad link placed on your website, you generate income. Payment is dependent on either Click-Through rate (CTR) or Cost per Click (CPR). CTR is generally based on the traffic generated from your website including organic traffic wherein visitors seeking specific information are inclined to click on your ad links. CPC is based on content and Niche.Rule of Thumb: PPC works well for websites that generates plenty of traffic. Advertisers are looking to capitalize on the traffic. CPC work well for financial and education products are certain profitable niches.Resources: Google Adsense, Yahoo! Publisher Network (YPN), BidVertiser, Chitika, Clicksor, AdSonar2. CPM (Cost per Mile)How it Works: Like PPC, you are able to make money for every 1000 visitors that click on ad link.Getting Paid: Payment is based on the page views or impressions generated by the ads displayed on your website (cost for 1,000 impressions). Cost per impression is determinant on the popularity of your content and Niche. You are paid for every ad that is viewed.Rule of Thumb: This method works well with high-traffic websites (i.e. Yahoo, Google). Ad positioning and formatting are critical. For instance, ads placed on the top of the page and formats that are larger tend to generate higher CPM’s.Resources: Casale Media, Burst Media, Value Click, Advertising.com, Tribal Fusion, Right Media3. Banner AdvertisingHow it Works: If you generate a lot of traffic, based on your niche, your site may be attractive to many companies. You can sell advertising space and monetize from this scheme. All it takes is installing software, setting up ad zones on your sites and placing announcements on your site highlighting advertising opportunities. There are different banner sizes to consider including Leader Board (728 * 90) Skyscraper (120*600), Rectangle (300*250) and Button (125*125).Getting Paid: Based on the type of banner and its position on the website, you are able to charge a fee, usually monthly anywhere from $50 to $ 250.Rule of Thumb: Advertisers are often attracted to high-traffic sites (100 or more per day). The more traffic you generate, the greater the opportunities of successfully monetizing from banner advertising. Of course, attracting advertisers that is relevant to your niche customer base is important or you will have very annoyed visitors.Resources Openads Ad Sever, OIO Publisher Ad Platform4. Text Link AdsHow it Works: Text Link Ads are based on selling text ads directly to companies.Getting Paid: Every click pays you.Rule of Thumb: While highly discouraged by google, this method remains a user-friendly option that continues to generate income for many. To be successful with this method, your website should attract high traffic.Resources: Text-Link-Ads, Text-Link-Brokers, TNX, LinkWords, Adbrite, Vibrant Media, Google AdSense, LinkAds, PaidTextLinks.com, One Monkey Inc., Kontera ContentLink, TAGword, LinkAdage Auctions.5. Affiliate MarketingHow it Works: This is based on a commission system wherein a merchant, closely associated to the content of your website, gives you an opportunity as an affiliate to directly or indirectly sell its products to consumers. You as an affiliate can utilize banners, text links and product reviews to drive traffic to merchant website.Getting Paid: This is based on Cost per Action (CPA) or Cost per Lead (CPL), driving customers to merchant site.Rule of Thumb: Many websites have selected to become affiliates of smaller companies that provide needed assistance in setting up and generating traffic to merchant site. Content is extremely important and keeping programs reader-friendly and relevant to your niche is important.Resources: Dreamhost, SEOBook, Commission Junction, ClickBank, Azoogle Ads, Link Share, Amazon Associates, Chitika Shop Cloud$, WidgetBucks, LinkShare, Corp, Zanox, uSuggest LLC, Chitika RPU, Auction Ads LLC, Commission Junction Inc., Chitika’s Linx, Shareasale, iTunes Affiliates,6. Sponsored Reviews MonetizationHow it Works: Based on paid-blogging model, writing posts on a wide range of topics can generate invaluable income.Getting Paid: You can generate income for every article that you write. The amount is determinant on the number of words and content.Rule of Thumb: Website traffic is important to generate a healthy income. It is recommended that you select topics that are of interest to you.Resources: PayPerPost Inc., Sponsored Reviews, ReviewMe, BlogVertise, Smorty, Payu2blog7. RSS Feed Ads MonetizationHow it Works: This is an advertising platform that enables visitors and customers access to up-to-date contentGetting Paid: Various options available; CPM, PPCRule of Thumb: Keep content up-to-date and relevant to your readershipResources: Feedburner (CPM), Bidvertiser (PPC), Pheedo, Feedvertising, CrispAds, FeedM88. Sponsors (Single Columns or Events)How it Works: This type of website monetization is about acquiring company sponsorships for specific events or columns.Getting Paid: You are able to charge the company and advertisers specific rates.Rule of Thumb: This works well for websites/blogs with regular podcasts, webcasts, virtual events, expert interviews and special projects that generate interest.Resources: Mashable, Problogger, Camtasia (video tutorial)9. Premium MembershipHow it Works: While you may have some general content that is freely accessed by the end user, if you have premium content that is of value to users, you can set a charge. Linked In is an example that provides exclusive job search and networking tools to paying members.Getting Paid: You can charge a monthly or annual fee ($ 10 to $45)Rule of Thumb: This method works well for Niche websites wherein special content, guides and tutorials add value to the customer who is willing to pay for the material. To set up premium membership, it requires vast technical expertise (i.e. coding) to pull off.Resources: SEOMoz ($ 45/month)10. Private ForumsHow it Works: Just like Premium memberships, forums can act as a source of income. Depending on the target market and the niche, you may charge as much as $100 monthly for members, particularly for customers who are seeking a place to exchange ideas with a select group of people. Some forums are also becoming private with a “by invite only” strategy to keep it exclusive. SEO Blackhat and Performancing (The Hive) are a few examplesGetting Paid: You can choose to base your membership on a one-time fee, monthly-fee or an annual fee. Check out other sites to determine the price you want to charge.Rule of Thumb: The value you provide to members should justify your fee-structure. Access to tools, contents, guides and exclusivity to the forum are important. To increase membership, consider providing “free trails” (i.e. 14 day or 30 day) so the customer has the opportunity to realize the value of your service.Resources: vBulletin, Simple Machines Forum, phpBB, Vanilla11. Job BoardsHow it Works: With many job boards popping up such as Indeed and Juju, job boards are an excellent source of website income. By targeting a specific niche and profession, you are able to capitalize on a specific market.Getting Paid: This is a passive way of making income. Website traffic is essential as higher the traffic, the grater the chances that you will receive job listings for which you can charge $ 10-$ 100 for each posting.Rule of Thumb: Niche and Traffic are important.Resources: Joards, Job-a-matic, JobThread, Web Scribe Job Board, SimplyHired Job-o-matic, Jobbex12. MarketplacesHow it Works: This method of making money from your website enables visitors to buy, sell and trade productsGetting Paid: You are able to charge fees for product listingsRule of Thumb: To create a suitable marketplace, you would need a coder. There isn’t specific software that is available to carry this out.Resources: Sitepoint, EasyWordpress and Mashable.13. Paid Surveys and PollsHow it Works: By running surveys and polls on your blog or website, this offers a great way to monetize your website.Getting Paid: This method usually adopts the CPM model (payment for every 1000 clicks).Rule of Thumb: You would want to select specific surveys and polls that are specific to your site, niche and target market.Resources: Vizu Corp. Answers14. Monetization WidgetsHow it Works: In recent times, monetization from widgets have become quite popular. This method is vastly based on Pay-Per-Click (PPC), Text Link ads and Affiliate links models. However, the “widgets” enables users to plug and play services on their websites.Getting Paid: This is relatively new; PPC, Text Link ads and Affiliate links.Rule of Thumb: Works well with product focused sites.Resources: WidgetBucks, ScratchBack, SmartLinksWhile the list above are just a few popular ways to monetize from your website, Part II of this article looks at some other interesting approaches to making money from your website. It is important to note that just as a company carefully selects its marketing-mix, it is necessary for you to select your mix of strategies in monetizing your website. The strategy must be practical and make sense; more importantly, you should have financial goals so that your strategy can meet them.
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