The biggest question that arises in a budding entrepreneur’s mind is to how to make money from websites.
There’s so much of free content out there in the market. How to find out what people will pay for? Note that there’s a big difference between content and useful content. People will only pay for content that solves their problems. Rather, they will pay readily depending on the context of the content.
An eBook which may not sell in Amazon can easily get passed through a blog. The amount of money that you can make online, assuming that you are continuously willing to create some useful content, falls under these 4 levels.
Take a look at these 4 levels and see where you stand in the race. Figure out how to climb to the higher level. These jumps will take work, but I assure you there’s nothing that you can’t handle. The given 4 levels will clearly explain you how websites make money.
This is the first level of making money with a website. When amateur bloggers talk about monetizing sites, this is the level they are in.
Advertising heads the list in here. Use Google AdSense to get some ads on your site. Well, these ads won’t make you more money. But still sufficient pennies that can go towards your hosting bill.
Banner ads come next. Such ads definitely make more money than Google Ads. Advertising rates are not such great, therefore you’ll need to generate a lot of clicks to make this worth your while.
The problem with this is that each and every click sends your readers away from your business on to someone else’s. This is quite OK if you see yourself as a blogger. But if you see yourself as an online business, it’s highly undesirable.
The last type that comes under this level is the sponsored posts. Bloggers getting high traffic can get advertisers to pay for publishing a post about their product. It is very difficult to get more money from sponsored posts unless your site has lots and lots of traffic.
All of the above mentioned offers provide a relatively low return. To make high money, you need lots and lots of traffic. I would recommend you not to use this strategy, as I am absolutely sure that you can do a lot better than this.
I would encourage you to skip this stage and jump right to level 2.
Make Ok Money Online – Sell someone else’s stuff
To make money online, you need to sell something. Be it your product or someone else’s. One way to make good money online is with affiliate marketing. Affiliate marketing is a process in which you make money by recommending your audiences’ to buy others’ product. If people buy based on what you write, you earn a commission. You act as an online salesperson. It’s as simple as that.
Affiliate marketing is all about networking and guiding your audiences to buy others’ product. Needless to say, but you should never recommend something that you don’t think is terrific. Your audiences are your most precious business asset, so don’t make bad recommendation for the sake of earning a commission.
Affiliate marketing is the best way to test your market. Find out the products and kind of things for which your audiences will pay for. Once you know the demand of your audiences, you can create one of your own and sell it.
There are some businesspersons who make all of their money as affiliates. They know how to create great content, how to promote that content and they know how to write good sales copy. Affiliate marketing is a serious business. I know people who earn thousands and thousands of dollars with affiliate marketing.
Very often, affiliate marketing reveals the voids in the market place that you can fill it with your own products and services. When you are unable to figure out the perfect product or service that sells, you are ready for the next level.
Make decent money online – Sell your own Stuff
When you truly can’t find something for your audience with what’s there already, it’s time to roll down your own product or services. Sell something of yourself.
You might offer a service that’s valuable to your audience such as coaching or web design.
You may offer a product such as a bicycle, furniture etc.
You may even offer an information product like an e-book or tutorial books.
Many people around the world make a nice living in this level. Some use this as their side business while some make their living doing this full time. You can jump straight to level 3, if you are sure about your product.
Well, you don’t have to stop at this level. There’s one more level where you can jump to take full advantage of online business.
Make Great Money – Deliver Great Value
It’s all about solving other people problems – in other words deliver great value. By delivering more value, I mean to identify a meaningful problem and solving it.
Take care of your audience and understand their problems, rather than selling a quick fix to them.
You get to Level 4 by building a strong foundation in Level 3, then figuring out how to deliver more value.
These are the 4 basic ways of how websites make money. Once you’ve achieved the final level, sustain it by providing very high quality information that adds value to your visitors’ day to day life.