Author: Pratik Dholakiya / Source: Jeffbullas's Blog Making money from a website or blog seems like an overdone endeavor, but it is a ver
Making money from a website or blog seems like an overdone endeavor, but it is a very doable task for almost everyone.
While each business has a diverse set of needs for their online ventures, as well as budgetary constraints to deal with, luckily, the days of spending thousands of dollars to get a website up and running to the point of generating revenue are in the rearview mirror.
There are many strategies available that can help monetize your platform across the board.
Let’s take a look at three ingenious and proven ways you can turn your website into a profitable undertaking, if not money-raking machine.
1. Tap into affiliate marketing
Want to make money while you golf or lay by the pool? Affiliate marketing is a great place to start. The concept is relatively simple. Basically, you use your website to promote the products and services of other businesses. When consumers buy those items from seeing them on your site, you earn a commission.
Commission rates can vary based on product. Some can be anywhere from 30%-70%.
For example, let’s say you set up an apparel business online, with a blog website where you talk about the latest trends in fashion. Within your posts, you can promote the products or clothing lines of outside retail brands.
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Every time a visitor clicks on a link within the blog and buys the item, the affiliate site makes a percentage.
There are a few components that make up the entity of affiliate marketing.
- The Merchant – This is the actual retailer of the product you are listing on your site. From startups all the way to big enterprises, any supplier could be the merchant behind an affiliate marketing strategy. All they need is a product or service to sell.
- The Affiliate – Also known as the publisher, the affiliate promotes the goods and works to attract prospective customers and direct them to the merchant. The affiliate doesn’t necessarily have to be a blogging site. It can be anything that is simply dedicated to helping users find awesome products or services.
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- The Consumer – Consumers are the life and blood of affiliate marketing. It is up to the affiliate to do everything they can to market their website to find potential customers. This can be through social media, content marketing, or any other form of digital advertising. An increasing number of affiliate sites are becoming transparent with consumers by conveying their incentives whereas some tend to be more subtle about their tracking system and earnings.
Keep in mind, you are by no means restricted to just physical products. Affiliate marketing with e-books is extremely popular (and simple). There are a lot of affiliate programs out there such as Click2Sell, or Amazon Kindle that can get you started. There are also free services like ClickBank that contain thousands of companies in need of affiliates to promote their products.
Affiliate marketing is based on revenue sharing. If you have a website that gets a…