So, you have created a website that has a steadily growing number of users and you are thinking about monetizing it? You’ll be happy to know that there are literally thousands of ways to profit from your online project, as long as you are willing to enhance and tweak it.
By adding new features or introducing certain changes to your website, you can increase your user base and make the project much more profitable. Some may be easy to implement while others are more complex and expensive. Today, we’ll look at the most effective and simple monetization strategies you can use to start making money online.
Pay Per Click Ads
PPC ads have become popular in the last few years due to the simple and user-friendly business model. If you are willing to place ads on your website, sign up with Google AdSense – one of the most popular platforms offering PPC opportunities. Google AdSense offers a simple functionality that can help you make extra cash each time somebody clicks on the ads placed on your pages.
Cost Per Mile Ads
CPM ads work a little bit differently. With CPM, you will yield a certain amount of money, everytime you get 1000 impressions on your website. If you sign up for a two dollar CPM ad, 1000 impressions will get you the amount of two dollars.
The downfall of this approach is that it works well solely for high-traffic websites with a lot of visits per day. If you are a starter, you will probably see insignificant revenue generation possibilities related to CPM ads.
Email marketing is a widely used approach for boosting website traffic and generating sales leads. To get started with it, you will have to enable subscriptions from your website.
Once you have a number of registered newsletter subscribers, you will get to send regular email updates regarding new content, features, services, merchandise, discounts or promotions. Keep in mind that if you start sending emails too often, you risk losing subscribers. Send newsletters once in a while (for example once a month or every other week) and you will effectively retain your existing visitors.
Sell Space for Ads on Your Website
Selling actual ads from other providers on your website is a complicated venture unless you are getting a huge amount of clicks. Still, there are major benefits to it, as long as you can pull it off. First, you can charge as much as you want to for the ads. You can negotiate business terms that work for you and your audience. Finally, selling ad space will yield much better profits that PPC and CPM ads.
Monetizing your online project is a dynamic process that requires experimenting until you find the right formula. Experimenting is the key to discovering methods that engage users. The process of trial and error will help you figure out which monetization opportunities deliver the highest return of investment or ROI.