Monetize Your Website
Now that your website is up and running you need to decide how you plan to make money of it. Monetizing your website is the next step.
There are many ways to make money from your website. Even selling your website (website flipping) is a way to make money from your website however we will focus on advertising which is the easiest way to make money with your website.
Advertisements are the fastest way to make money with your website. If there’s traffic in your website and it’s targeted to selling something or can cause your visitor to take action towards something, it can worth money for you.
The problem is how to choose the right product to sell on your website, the right advertisement, the right banner or text link and make sure the conversion between an impression (view of the advertisement) to action (click) is the highest. There are several factors you should consider before placing the ads:
- How do you plan to sell your traffic? CPC (cost per click) , CPA (cost per acquisition), CPM (cost per thousand impressions)?
- To whom do you plan to sell the traffic? Affiliate networks? Personals? Google (adsense)?
- Where is the traffic coming from? The pages? Homepage? Mailing lists?
- Where to place the advertisements on the pages?
- What is considered a good conversion rate?
- How often do you need to replace and update your ads?
- How do you optimize for better conversion?
- Do you really give my visitors what they are looking for?
When attempting to answer these questions you actually build your marketing strategy and you will get the basic idea on how to monetize your website using advertisements.
Placing the right advertisements on your site is not easy, it takes time to study your traffic and it takes some statistics digging until you figure out what goes where and when. You need to know the language, the geo location of your visitors and match the content of your website to the content of the ads.
If it’s targeted it will work, if it doesn’t work replace it until it will.