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5 Popular Website Monetization Models

5 Popular Website Monetization Models

Dzenana Kajtaz

October 23, 2020 (modified on November 2, 2020)

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You may have had someone tell you before that making money online is easy. Maybe you know some people who do it. It’s often the younger generations that seem to understand how to utilize technology to create viable cashflows.

If you’ve thought about monetizing a website before, there’s definitely no better time to do it. The pandemic has closed many brick-and-mortar businesses, and people are job hunting. Maybe you can rely on yourself for income rather than finding a job on Monster or Indeed.

We’re going to talk about five different website monetization methods. When we finish, if one of them appeals to you, maybe you’ll want to try it.

Membership Websites

Login page for site

The membership site is a tried-and-true passive income method. You can easily install WordPress membership plugins that will change your site from free to members only. This is a viable option because:

  • You can install the plugins in moments
  • You don’t need to be computer-savvy to maintain the site once you set it up

With the membership site, all you need is a steady content stream that you feel confident people will enjoy. That might be pictures, videos, blog posts, podcasts, etc.

You can also use social media for free marketing. Once you create profiles for yourself, you can use them to talk about your membership site and direct people there. This is the perfect solution when you’re starting, and you don’t have much of a marketing budget or none at all.

You Can Sell Digital Products

Podcast list on phone

Most people know you can get just about anything online in 2020. You can order from Amazon or another, less-prominent eCommerce site.

However, you can also buy and sell digital products, and that’s another great way to make money through a website. For instance, you can sell:

  • eBooks
  • Instructional courses
  • Podcast access

Like all products, the trick is making it attractive enough that customers will want it. Your whole website is the product staging area and vehicle.

Creating digital products seldom takes very long at all. For example, you can write an eBook that’s just ten or twelve pages long and charge a couple of dollars for it. The more popular you become in your niche, the more you can start charging for digital products, and the more of them you can sell.

Product Sponsorship

Another great way to monetize a website is to start partnering with individuals or business entities. The way to do this is to get as popular as you can.

Whatever your site’s purpose, you need to get as many people as possible to visit it. Now, other business entities will see that you’re popular within your niche.

They will pay you to review their services and products and then talk about them on the site. For instance, if you run a DIY site, you might partner with Ryobi or another tool company. They can pay you for product reviews, and you can also get free swag out of the deal.

Website Advertising

You could also set up your website so businesses will advertise there. They pay you for these ads.

Like with product sponsorship, this only works if you make your site very popular. If you get tons of visitors, and they spend a lot of time on your website, companies will see that advertising with you is valuable – it’s all niche-oriented.

Coaching

You can also create a site where you offer various consulting and coaching services. Maybe you set up your site advertising that you’ll help someone with social media marketing.

You can get people to pay for your services if you have a proven track record that shows how you’ve helped others in this area. You can talk about other companies for which you’ve worked. You can feature client testimonials prominently on the site.

You can charge an hourly fee or by the project. With this model, it’s all about demonstrating your expertise so people will willingly pay you to help them.

These are five of the most popular site monetization strategies that exist. Now’s the time for you to think about which one you might logically employ.