Best Ways to Monetize Your Business by Making It Go Online
Nurture a Dream
Many people around the world nurture a dream of making money but often lack the drive or the focus to do so. However, with the advent of the internet, many individuals have found their calling have set up their businesses online via their business websites. One of the trendiest ways available today to monetize your business is to make it go online. There are many ways to monetize a website once it is online. Let us take a quick look:
Monetizing your business online can be extremely advantageous.
1. Sell directly to your target audience
According to Peter Drucker, “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” To come to the point, you can utilize your website to sell directly to your target audience. According to HubSpot, nearly 61% of the global internet users research products online while 44% of all shoppers begin their shopping online via a search engine (Interconnected World: Shopping and Personal Finance, 2012). Hence, you can use your website to target such customers and generate revenue in this fundamental way to improve sales.
2. Go for Paid Advertising opportunities
This option works if your website is very rich in content and includes a lot of articles and advice pertaining to your industry or field of work. According to recent statistics, paid advertisement opportunities are one of the best options available currently. In 2014, the net search ad revenue for Google was $ 38.42 billion, while Google’s share of U.S. paid search ad spend was 82% in 2015. In other words, you can obtain good CTR Rates if provide others the option of advertising on your website. At the same time, you can sign up for an advertising network, which will then place relevant ads on your website. One of the most commonly used of these networks is Google AdSense, which is common among small business owners.
3. Affiliate Links
You can even go for affiliate links, which are links from your site to a relevant merchant who sells something that your audience is interested in. When they make a purchase, you get a commission as a percentage of the total sales. Some of the biggest affiliates are Commission Junction and ShareASale. Amazon.com, one of the largest ecommerce companies in the world has its own affiliate program. In this program, you can choose from a million products to advertise to your customers. In order to monetize your website, Amazon.com gives your 10% in advertising fees and their competitive conversion rates help you win sales.
4. Create & Sell Your Own Digital Product
You can use this monetization strategy if you have been able to build up a very specific niche website that commands a large traffic volume. You can now easily create your own product and sell it online. In this manner, you can retain complete revenue for the product you sell. While affiliates take care of customer service as well as other issues, you will have to take care of the specific issues that could pop up while dealing with your customers. If you are using WordPress to develop your website, you can easily download a plugin that will help you integrate with your payment processor so that you can manage your digital downloads without any hassle.
5. Begin accepting sponsored posts & articles
If you have been successful at making a website that gets enough page views and visits to elicit the interest of sponsors, you can begin accepting articles from them to engage your audience further. In fact, in 2013, brands spent 6.7 percent on an average, of their content marketing budgets on sponsored content.
Thus, you can make money from your website by improving visits and page views. Today, many companies are always on the lookout for blog sites and people who are willing to feature paid blogs on their website. You can always accept such companies provided their products and services are up to the standard.
6. Create a premium content section
If you can produce awesome and striking, content that users simply cannot take their eyes off, then you can easily create a premium content section that users will not mind paying for. The best way to introduce a paid or a premium content section is to first focus on growing an audience and a sizeable chunk of visitors. In a research conducted as early as August 2012, 61 percent of the respondents stated that premium content publishing provided the best media brand quality or image.
7. Host a web conference
According to Content Marketing Institute, over 60% of marketers used webinars as part of their content marketing programs in 2014. Once you have built a sizeable audience and have gained your user’s loyalty, then you can easily host a web conference in which you can charge for those who want to attend online. This is a sophisticated way of promoting your brand and business online to your trusted clients and potential audience.
Besides the above methods, any legitimate method of doing business online is welcome. You can simply execute the idea on your business website and wait for the money to pour in. Good Luck!
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