by Adediwura Adeaga
Whether it’s a small side hustle or your entire monthly income, monetizing websites has never been more popular – or more profitable.
There are multiple ways you can make money through a website. Some methods of monetization are simple, some a little more complex, but all can work wonders – if done right.
Here are 4 ways to monetize a website:
1. Selling Products
It’s probably the first thing that came to mind, right?
Today, there are over 650,000 ecommerce websites that generate $1,000+ annual profit – a number which is only growing year-on-year. And the best part is, anyone can set one up!
You can either use platforms like Shopify and Bigcommerce which offer templates or have an agency like Epower.ng build you a bespoke online store.
2. Selling a Service
Another common way people make money online is by selling their services. It could be anything – from creating tailored diet plans, to a window cleaning business.
This works in much the same way as online stores. The big difference is, you don’t need an ecommerce-specific website builder.
You can use website builders like Wix and Squarespace which offer drag and drop features or have an agency like Epower.ng build you a fully customized website.
3. Selling Ad Space
You may find them pointless or annoying, but the truth is, displaying adverts on websites is one of the simplest ways to make money. The most common way to sell ad space is by using a pay-per-click model. This is where you receive commission from the advertisers every time someone clicks through to their advert from your web page. Website ads are simple to set up, but not a big money-spinner – unless your website gets a lot of monthly traffic.
It’s not just printed magazines and newspapers that people pay subscriptions for these days! Anything from online tutoring, to accessing software, to premium digital content can be monetized through a subscription model.
The subscription ecommerce market alone has grown over 100% in the past five years. It’s a great way of guaranteeing recurring revenue.
Subscriptions work best when you have a product or service that people can’t physically buy, but do need to access regularly. A website builder is a perfect example, where you pay a monthly fee to first create, then host your website online.
If your website is popular enough, you can also place premium content behind a paywall that your visitors pay to access. This can be a risky strategy, though – especially if all your content was originally free.
Source: This article is an abridged version of an article from https://www.websitebuilderexpert.com/building-websites/how-to-make-money-from-a-website/