Be it blogger, Youtube video artist, website owner, or mobile app developer, everyone thinks about monetization after tasting initial success. But the equation of earning money online is not that simple.
Besides great product, traffic, and downloads (for apps), you also need the right monetization strategy. FATbit’s team of analysts and marketers is here to help you evolve a monetization strategy that will promise great earnings.
Read on to learn how you can monetize your website, blog, app, videos and everything else on web.
While ecommerce portals earn money by selling products, websites based on information sharing, entertainment and social media need to think hard about monetization. While you can always brainstorm for new ways to make money from your website, here are some popular time-tested ways to generate profits:
Google Ads is one of the most popular ways to make money through online advertising. The program named Google Adsense helps website owners display text, video, image and interactive ads with ease.
More than two million site owners are using Adsense because of its simplicity, variety of products, and payment transparency. Explore Google AdSense.
If your website has good amount of traffic and authority, then, hosting your own banner ads can be more lucrative. You can quote your own price on the basis of ad size, display duration, and position.
While Adsense pays website owners whenever a visitor clicks on the ad, selling ad space has no such conditions. You can charge a plain monthly rate. Use BuySellAds to tell people that you sell ad space.
If you have a great digital product that people love, then, you can plan pro features and charge your audience base for it. Social media sites use this monetization option a lot. The biggest examples are Boost Posts and Promoted Posts on Facebook.
Similarly, there are various other online ventures that charge a little extra for additional storage space, enhanced security, and better experience. Flickr and Dropbox are some examples.
Content sharing websites can also charge a small fee for researched posts and tutorials.
If you have managed to build a brand around your website and have a strong audience base, then, you can make money by selling merchandise. This is a great option for online brands that don’t deal in physical products but have a buzz around their name.
Imgur does this to generate a considerable chunk of its revenue. Check out Imgur Store.
Entrepreneurs running websites based on social work and non-profit ventures can raise money by following donation based revenue model. Top ranking websites follow this model to meet expenses of running a website.
While above listed website monetization strategies will help you generate regular income, there is another thing that affects monetization prospects greatly. As a matter of fact, almost every website that has a market reputation and spins profits scores in it.
The point we are talking about is WEBSITE DESIGN.
Thoroughly planned websites are loved by its audience and have a better chance in achieving business objectives. So, make sure your website scores in:
“A new blog is created every half second.” This lone fact justifies the staggering search results for ‘how to monetize your blog’. Bloggers can explore monetization options like Google Ads, ad space selling, and other points listed in the above section. Therefore, we won’t be listing the same points.
Here are some unique & best ways to monetize Blogger, WordPress or any other blog:
Affiliate marketing is very popular amongst bloggers who want to make money off their blogs. The concept of affiliate marketing is very simple. You market products suited to your target audience and generate sales or business leads. For every sale, you will get a cut.
There are various affiliate networks that you can join to earn affiliate income from your blog. Commission Junction is the leading name for generating affiliate profits.
“If you are good at something, never do it for free”. Bloggers are actually making this popular line from the Batman movie by charging for premium content. Andrew Sullivan, the British author and blogger proved this by starting his venture, The Dish. The blogazine has more than 34,000 subscribers and earned revenue of $851K last year.
Of course his global stature played a crucial role in establishing his blogging empire but the point is that people are willing to pay for premium content. Consider this monetization option along with others to improve your monthly blog earnings.
This blog monetization method is slowly gaining popularity amongst highly targeted blogs. While it is rarely the primary source of revenue for blogs, it can be great secondary source of
income. Bloggers can introduce jobs section on their blog and charge a small fee for job openings for a specified duration.
Smashing Magazine is a great example of an information sharing resource that uses job board to generate income.
Yahoo is the recent content publishing giant to embrace sponsored posts to generate revenue. If you don’t want to clutter your blog with ads, then, sponsored content is the way to go. You can charge your own price depending on your blog’s popularity and readership.
Some blogs compliment product reviews with sponsored posts to make additional income. Following the same route, you can charge a small fee for featuring guest posts and other marketing resources.
Bloggers are making hefty additions to their blog earnings by selling products as well as services. Top earning bloggers sell ebooks, consultation services and even merchandise to make money blogging online. If you want to deal in physical products, then, go for the ones that your readers will be interested in. For instance, if you are a fashion blogger, you can sell fashion accessories.
Building an email list and selling your own products are two other ways to make money with a blog for free.
The rule of great design also applies to a blog. A poorly designed blog rarely commands authority and confidence from readers. So, make sure your blog looks good and offers a great UX.
Now, let’s take up mobile app monetization.
Imagine using your smartphone without your favorite apps, and you will realize how important they are to the mobile ecosystem. While development community is quite excited about the opportunities created by the mobile app revolution, developers still struggle when it comes to monetization.
This section will introduce you to the best ways to monetize Android and iOS apps:
If your app answers an already existing need, then, people will be definitely willing to pay a fee for it. There are many mobile applications that command a good following even after a price tag. Here are few examples of top paid Android apps. However, make sure you get the pricing right to get the initial downloads.
Advertisers are very excited about generating brand advantages through mobile platforms. There are multiple options available when it comes to ad based mobile app monetization. You can go for banner ads, interstitials, banners, app walls, video ads, and rich media ads.
There are various mobile ad networks and solutions that can help you make money through your app. Some of them are given below:
While this form of monetization certainly generates profits, make sure you don’t ruin user experience while doing it.
The paid tag is an obvious barrier when it comes to app downloads. If you are convinced that charging an app fee is not for you, then, go for in-app purchases. Integrate paid upgrades, and virtual currency to generate income from your app. Check out this developer guide from Apple to learn more about in-app purchase.
Gaming and entertainment apps have a great potential to generate revenue through merchandise sales. While it couldn’t be the primary revenue model, it can certainly generate additional profits for you. The popular mobile game, Plants vs. Zombies brings a variety of merchandise for its fans. Have a look!
Google realizes how much monetization matters for app developers and thus shares best practices & ways to monetize Android apps. Check out this link (http://developer.android.com/training/monetization/index.html) to learn about Android app monetization from Google itself.
These are some of the best ways and tips to monetize your mobile application but thinking about monetizing after creating an app is bad idea.
Figure out revenue model before starting app development phase to come up with an application that will generate profits in the long run.
Youtube monetization is not rocket science. It is rather a simple process because Google controls the ad machinery of Youtube and doesn’t allow channel owners to run their own ads. To monetize your Youtube videos, you need to become part of YouTube Partner Program.
Once you have setup your channel and agreed to its terms & conditions, the monetization will start automatically. Here is a link that will help you get started with Youtube video monetization.
The challenge with Youtube money-making however lies in generating enough video views to make your channel qualify for monetization. Hitting pre-set number of views will also unlock strategic resources.
So, the point is that your main concern (like almost everything on web) should be GENERATING TRAFFIC.
Now, how would you do that?
Following section will help you with it.
We have covered major points that will help you monetize websites, blogs, mobile apps, and Youtube videos. But it’s not like you are going to add all above listed points to your online venture and it will start spinning money.
For these monetization mediums to work, you need:
So, generating conversion in any form is a BIG part of earning money from your website, blog, app, Youtube channel, forum, online store, business site, and everything else.
Below listed are some ways to increase traffic, sales, and downloads:
People use search engines like Google and Bing to discover news, products, service providers, information, and much more. SEO is the technique that improves prospects of your website, blog, app, and videos on popular search engines.
Small business and global brands invest in SEO to improve product sales, website traffic and brand presence. Learn more about SEO.
PPC ads are perfect for entrepreneurs and businesses that want instant visibility through ads surrounding search results. Businesses all over the world invest in PPC to generate traffic and business sales.
You can start with a small budget and run your PPC campaign as per your goals. Read more
Social media is no longer just a medium to connect with people. Businesses, bloggers, app developers and Youtubers are using social media marketing to generate relevant traffic and earn big income online.
Read in detail about social media marketing and how you can use it to earn money on internet.
Whether you are running a blog, selling stuff or posting videos on Youtube, don’t expect the flood of dollars very soon. Money will come but it will take time.
Your first priority should be building a website/blog/app/channel/brand/product that people find worthy of their time and money. Once you get that right, users/followers/readers/customers will come automatically.
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