Whether you are looking to make money on the side or as a major income source, if you are wondering whether there’s money to be made using web design, the short answer is a big, resounding YES.
“But isn’t e-commerce the only real way to make money with a website?”, we hear you wonder. Not really.
There are several ways to monetise a website and generate revenue. Sure, online stores are one way to go about it, but there are other ways to make money with a website. In this post, we will look at those strategies.
Some of these website monetisation strategies are straightforward, some a little complicated. However, when done right, all these strategies can boost your revenue to unbelievable levels.
Below, we look at the five most common strategies to make money with a website.
Sell Products Online
This is perhaps the first idea that came to your mind when you wondered, “Is there money in web design?” Right?
E-commerce shopping in New Zealand has seen a rapid rise. About 88% of people from ages 16 to 64 search for a product to shop online.
You can use a website builder like Shopify to build your e-commerce store. However, if you are not sure of how to go about it, then you can hire a web design agency in Auckland to build you a professional online store.
Sell a Service
Another common strategy that people rely on to generate revenues online is by selling professional services. From window cleaning, plumbing and electrical work to filing returns, tax planning and creating a diet plan, you could sell any service to make money online with your website.
This works just the same was as e-commerce stores. However, you don’t need an e-commerce functionality.
When it comes to selling a service, it’s important to identify your unique selling point (USP). What is it that makes your service a cut above the rest? And why should your prospects buy your services?
With the onslaught of influencers and bloggers, affiliate marketing has seen a resurgence in popularity. In all probability, you may have used an affiliate link without knowing it. So what is affiliate marketing and how can it help you make money?
Affiliate marketing is an agreement between your site and a company wherein you send prospective customers to their website.
Here’s how it works:
There are two distinct ways to generate money from affiliate marketing – CPA (cost per acquisition) and cost per click (CPC).
Just like PPC advertising, CPC allows you to generate revenue when someone clicks an affiliate link on your website that directs them to the affiliate website (your partner company).
With CPA, you make money only when someone actually converts – i.e. the user signs up for a service or makes a purchase from the affiliate website. Naturally, CPA fees are a lot higher when compared to CPC as you are helping the affiliate generate revenue.
Instead of showing up ads to users, affiliate marketing involves incorporating links in your content. Users today are a lot more tolerant of affiliate marketing, and it’s an extremely lucrative strategy too.
When you have an affiliate relationship with a brand, you will produce content that’s relevant to the brand and include unique links to the affiliate’s website. These links are very important. That’s how the affiliate tracks that you helped generate a sale for them. These are called affiliate links and are very easy to create.
Sell Ad Space
You may feel they are irritating and pointless, but advertising on websites is a simple and straightforward way to make money online.
The most popular strategy is to use the pay-per-click model. In this model, you receive a commission from marketers every time someone clicks on an ad from your website.
The average cost per click (CPC) for selling ad space is $0.35. So if you want to make $100,000 a year selling ads, you should be generating about 1000 clicks a day.
You can begin selling ads on your website in one of two ways. The first and the most popular strategy is to use Google Adsense, where Google will embed the code on your site to display ads on your site and understand the topic of your page to display relevant ads.
The second method is to sell ad space to businesses directly. This involves a lot more work on your part, but you get complete control over the type of ads being displayed and the payout.
Although website ads are easy to set up, you can’t expect to make a lot of money, unless, of course, your site generates a ton of monthly traffic.
Subscriptions are not just limited to newspapers and magazines these days. You can sell anything on the subscription model from software and online tutorials to premium content and even food.
The subscription e-commerce market has grown rapidly over the last five years. It’s a great way to generate guaranteed recurring revenue.
Subscriptions are an excellent option for products/services that you can’t buy physically but require access to on a regular basis.
If your website is extremely popular, you could offer premium content on a subscription basis that visitors have to pay to access. This strategy could turn risky if your content was free originally. When done right, this strategy can generate excellent revenue.
For this model to work, you must create a members only section on your site. This part of your website could be password protected that only paid subscribers can access.
Make Your Web Design Work for You with Business Website Design
A website is a great way to make money online. However, you need a professionally designed website that’s tailored for your target audience and goals. Here at Business Website Group, we can help bring your ideas to life. Whether you want to build an e-commerce website or a lead generation website, we can design and build a website that wins customers for you.
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