How Can You Monetize Your Website | Best Methods and Decisions in 2023
Hi all. Today we will talk about the most interesting thing in this life, about money. But seriously, I would like to discuss the monetization of IT projects, in particular websites.
I myself am an affiliate manager and work as a freelancer with various projects. My task is to make sure that the startup that you recently started, which was recently just a pet project, could soon earn you money. Since I'm a freelancer and I choose the set of projects I want to work with, the number of projects I manage is large. At the moment, I am trying to start the monetization process for four partner sites.
I want to tell you about the trends that are relevant for 2023. How do we monetize projects, what practices do we use, what works and what doesn't. Unfortunately, I cannot name these projects or provide links to them, but I will try to describe their activities and features. So I will be less unfounded.
Advertisement
Don't rush to scroll down. I firmly believe that everyone knows about advertising. To monetize a web project, you just need to apply for Google AdSense and, if you meet certain requirements, you will be able to monetize your web project in the near future. Yes, it is fashionable to make money on this method, but as an affiliate manager, I have another option for you. It is a bit more difficult as it requires more of your time and effort, but the result is definitely worth it. My suggestion is to advertise a product or service in the same niche.
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Temp Mail - Ad Blocks (looks messy, isn't it?)
For example, I had a client with his online store of swimming equipment - fins, scuba gear, diving masks and other goods. He didn’t want to include additional monetization of the site in the form of Google AdSense, and I understand him, because no matter how organically the ad didn’t fit into the site’s design, it remains an ad, not the most attractive block on the page for the user. Therefore, we decided to move away from Google advertising, and concentrate on advertising a business from a similar niche. Instagram helped us with this, where we manually searched for a business, wrote to them with a proposal for cooperation, and a week later on the site page there was a banner advertising another online store of swimming goggles for the pool.
Initially, we wanted to frame it as barter, that is, advertising for advertising, but later we agreed on a simple, classic form of advertising. Google AdSense is a good and universal option for everyone, but if you don’t want to have advertising banners with anime girls on your serious business and finance site, then you should probably pay attention to this form of monetization.
Subscription
This is my favorite monetization format. I'll explain right away why. The form of monetization through subscription allows the business to be more stable and predictable. Having clear numbers on how many paid subscribers you have and what income you expect, it is easier to plan further development or, on the contrary, avoid financial losses. Of course, this form of monetization is not suitable for everyone. This is mainly suitable for blogs, news sites or online meeting sites.
So, for example, I used a similar form of monetization for the site of an online English school. We organized three subscription levels, each of which differed from the other in a package of services - hours of classes per week, mentors, study group size and, of course, price. I sincerely believe that this form of monetization is the future of all marketing for the reasons stated above. Everyone is already actively using this form of marketing, in the future the share of products available by subscription will only grow.
Digital Product
Everything is simple here. If you have a product that is specifically suitable and needed in the niche of your site, then you can sell it. This can be anything from classic goods like fins, scuba gear or snorkeling masks, to digital goods and services like e-books, or your freelance services like SEO optimization or web development.
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W3school - Digital Product (Bootcamp)
This is a great option for freelancers, creative people and innovators who don't want to bother with advertising, but always create something new for themselves and others.
But here it is important to remember that the product is unique. There is no question about freelancing services, but if it is someone else's e-book, desktop wallpaper or archived data, then you'd better talk to your lawyer before selling it.
Donations
Here, everything is simple too. A great option for blogs and creative websites that also do not want to concentrate and spend time searching for ads and advertisers, but want to create - write, draw and create.
Donation Page Example
If you decide to choose this particular method of monetization, then remember that you should not forget about those who donate funds to you. Mention them in your posts, listen to their opinion, thank them. I would not recommend dwelling on this particular monetization method, but would advise combining it, for example, with advertising or subscription.
So you can properly dispose of the funds donated to you. For example, spend funds from donations for marketing, and funds from advertising for the existence of the editorial office, website, business, and so on.
Affiliate Marketing
As an affiliate manager, I should have mentioned this way of earning. For those who do not know, I will briefly explain the essence. If a YouTube blogger advertises a brand and asks you to follow a link in the description, scan a QR code, or enter a promo code for a discount, then by purchasing this product or service using one of the above methods, this blogger receives a percentage of the money what you spent. Everyone benefits - the blogger gets a percentage of sales, you get the product, the advertiser has high sales.
Affiliate Marketing Example
Effective affiliate marketing will require a large audience, because the more people read your blog post, the more people will click on the links and the more you will earn.
Many brands have affiliate programs, both popular and no less popular. I think that by googling you will find whole marketplaces of such affiliate programs, such as impact. But, my advice to you, do not mess with casino advertising. In casinos, affiliate programs also work, where content authors receive a percentage of the losses of people who follow the link. This content authors earn a lot of money, but your reputation suffers, and most importantly, your conscience. The choice is yours, the business is yours, but I would not recommend it, conscience is more expensive!
Conclusion
I really hope that you will choose the ideal form of monetization for yourself. Remember that they can be combined, but do not overdo it. A huge amount of advertising, requests for donations and links to online casinos will definitely scare away the visitor to your site. Value your audience first and foremost, and prioritize their convenience. With such values and approach to doing business, you will have no problems with monetization. Good luck!