Monetize Meaning & 10 Best Ways to Monetize Your Blog or Website
Monetization in the most important stage of any blog or website to make a passive income and live a happier and freedom life. Whoever is thinking to start a blog, either as passion, hobby or journal but at the end, 95% of them will surely think of monetization of their blog and find best possible ways to make as much money as they can.
This is the real truth. So, how to monetize the blog? What are the best methods to monetize the blog? As different people have different experience and views, here I had made a list of 10 best ways to monetize the blog as per my own research and feelings.
As monetization is not limited to these 10 methods, there are lots more, but I have not included such a method which is not applicable to general blogs.
“Such as creating membership options – All blogs cannot create membership options”.
“Setup online store – All blogs cannot set up online stores”.
There are many more such methods through which you can monetize, the above were just examples. So here I have made a list of 10 best ways to monetize a website ranking from 10 (least effective method) to 1(more effective).
#1. Affiliate Marketing
This is one of my favorite so I have ranked it in #1. In this monetization, you need to sign up with the affiliate provider and promote their product through your article post or displaying the banners or text links on your blog.
You will get paid if someone clicks the links and purchase the product only. The conversion rate of the affiliate is very high which is usually 30% to 70% of the service or product value. You can choose the products from the product marketplace like shareasale.com, ClickBank and many more.
#2. Product Reviews
In this type, you can write a review of the products and get paid after the conversion. The products can be in any niche like gadgets, cars, hotels, etc. You can choose the best product and write about the product in detail.
More you can do the research and write clear review more your audience will trust you more there will be a conversion. So you need to choose the product wisely and better to choose the good products.
If the product that you want to promote is not so good then you have to write the pros and cons very clearly so your audience can decide whether or not to buy the product.
#3. Create your own digital product and sell online
Not for everybody but if you are really creative then you can create any product and sell them. The product could be anything that you are expert in. For example, if you are a programmer or designer then you can create themes, templates, forms, etc. if you are good at Photoshop, you can create touts for the different effects and sell.
If you are good in photography you can make a tutorial on how to become a successful photographer and you can sell the images you’ve taken. There is a wide variety depending on your niche what product could be created.
#4. Selling Ad Space
In this type of monetization, you can design ad slots on the different parts of your blog like header, sidebar, and footer or above comments area, etc. Then set the price of the different area as per your wish, but not too high nor too low. You can check the other same niche site to get the general idea to set the price.
You can check how popular is the blog and what the rate they are setting. Based on that you can assume the rate to your site based on its content and ranking.
You’ll get paid as per the impression of the displayed banners in different slots. The best network to start the selling ad space is buysellads.com as per my understanding.
#5. Banner advertising
In this type of advertising, you can display the banner of the sponsor to your blog and generate the profit. If your blog is well-reputed then you can display the banner ads of Pepsi, Toyota or many more companies depending upon the agreement with the banner advertising network. And it can also be done locally which I feel it’s a good option.
For example, if you are running a travel blog then you can visit the travel agencies, hotels, restaurants, and other related organizations within your local city or even county and make a deal for the display of the banner on your blog.
#6. Generate “Leads” for other companies
In this type of monetization method, you may set up the links related to your contents and generate the revenue. For example: if your blog is related to computers and internet tutorials then you can set a link to the traders of computers and software and get the commission on % of the sale.
Leads can be done in both methods online lead or locally. For online you can lead your visitors to the largest retail stores like Amazon and eBay while the lead can be done within your local city too. You can make a contract with your local traders within your city and fix the profit rates.
#7 Accept sponsored posts & articles
In this type of monetization, you can offer sponsored posts to your blog. There are a lot of advertisers willing to write a sponsored post for you but your blog needs to be well established and with good ranking.
If your blog can rank well in Google and Alexa, then this can become a good monetization method. You can get contents related to your niche for your blog and commission for advertising as well.
Actually, this is not an advertising method but can be a good option for monetization if you are running your blog for a non-profit purpose. If your blog provides useful information and certain value to the readers, you may set up a donation button to monetize your blog.
You can generate good revenue if your contents are really worthy for the audience. One of the examples of this type of monetization is the popular website Wikipedia.
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#9. Pay Per Click (PPC) Advertising
In this type of advertising system, you can place the code to any position of your blog as per your wish. The ad could be text as well as banner, you can choose to match as per the design of your blog.
The good thing is they will provide the ads relevant to the contents and keywords of your blog. This is the best method for the newly established blogs to make a small amount of income, at least to keep the blog running.
You will get paid when anybody clicks to the displayed add in your blog. The payment rate varies as per the niche of the site from $0.2 to $5 (roughly). The best PPC network in the current days is Google AdSense of course!
As they have a bit higher paying rate compare to others. But getting approval for a new blog is quite difficult compared to other PPC network. However, in that case, there is other PPC network like Chitika, Bidvertiser, etc. where you can get approval easily.
#10. Text Link Ads
If your blog in text-based i.e. If your blog is having more quantities of text and fewer images as in www.stevepavlina.com then TLA is better option to monetize.
It is the simples way to monetize your blog as well. Because of course you can start to make money with your writing skills.