Yes! If you have a business website that receives a decent amount of traffic on a monthly basis, you can monetize your website to benefit your business!
However, creating a business website and only marketing it is not the key to generate revenue. What you need to do is market your business from a user’s perspective and see if at all this adds value to them or not. You need to go through the entire purchase process of your customer. Analyze your visitor data, and monitor their activity on your website. What is the source of visitors, why are they exiting your website?
Here is how to generate revenue from a website:
We’re sure that you might have heard about affiliate marketing. But what is it?
In simpler terms, when you recommend a business product (third party) to someone and if the person buys a product, you receive your part of closing the sale.
It is indeed one of the popular ways of making money online. But how does one go about doing it? Find a product that resonates with your business and will be liked by your website visitors. If the product resonates with your visitors then you’ll surely get a commission if they purchase the product.
AdWords are the advertisements that show on the top of Google search engine result pages, whereas AdSense is the opposite, wherein website owners use Google’s immense network so that advertisers can run ads on their website.
You can start by signing up. Google places a code on your website that helps identify the content of your website in order for you to start displaying relevant advertisements. The type and content of your ad will depend on the website it is being displayed on. Everytime a user clicks on the ad, you get paid for it.
This is one of the best ways that help you build a strong brand, promote your business online and attract online visitors to your website.
All you need is to get the data of all the potential customers that might be interested in your business products or services. You can then ask them to subscribe to promote your business services. Once you feel that you have sufficient subscribers, you can offer giveaways or some tips, either free or paid.
Very often, users subscribe to keep updated with the work that you do, so make sure not to spam and are giving them relevant information. Email marketing is an effective way to entice your customers with new announcements and offers. You’d be surprised how well they can work for your business!
This is a bit different from what we mentioned earlier. Here you need a third party to sell your own product. In this case, the profit earned by your business would be divided amongst your business & the third party for its involvement.
The common scenario is when a business creates a product, they tie up with eCommerce sites like Amazon, Myntra where users can finally make a purchase.
Although the profit earned by your business is comparatively lesser, it is still a good way of making money!
If your business is a service based business, it is important that you that you prefer sequenced opt-ins, such that the visitors are redirected to an eCommerce page where they can finally buy your business product.
As we wrap up this blog, it is important that you know all the ways that we have mentioned above are effective ways of making extra profits through the traffic you receive on your website. However, some of thm actually require time and effort.
Do you know any such ways that can make money for your website? Let us know in the comments below!
Anuja is the Co-founder and CEO of RedAlkemi Online Pvt. Ltd., a digital marketing agency helping clients with their end to end online presence. Anuja has 30 years of work experience as a successful entrepreneur and has co-founded several ventures since 1986. She and her team are passionate about helping SMEs achieve measurable online success for their business. Anuja holds a Bachelors degree in Advertising from the Government College of Fine Arts, Chandigarh, India.