Most bloggers wonder “how do I monetise a blog?”. Earning money and not having to work 9 – 5 is the dream for many. If you are willing to make some effort, here are ways to make money online if you have a website.
1. Sell advertising space
Instead of trading through third parties, you sell advertising space directly to media buyers. Therefore, 100% of the advertising budget goes directly to you. Stop worrying about traffic, visits, or conversions. Face-to-face meetings and negotiations may be required, but these will pay off in the long term.
2. Develop and sell courses
Teach what you know. Serve your audience, create residual income. Online courses have quickly become one of the best ways to serve a niche audience. They offer you the opportunity to teach what you know and go as deeply into the content as your audience need. Creating a great course that deserves a premium price takes effort, but it’s worth it.
3. Write product reviews
Review sites are a great way to get an income since you can use affiliate tracking to get a commission from the brands you are linking to. All you need is a marketing plan and a day to build your online business. A good website to link to is Amazon or other online merchants that consumers trust are most likely to buy products from. If your website is looking good and already has some well-written reviews on it, brands might even pay you for writing a review for them.
4. Start a dropshipping e-commerce business
If you wish to join the e-commerce space but you cannot handle production, distribution channels and fulfilment, dropshipping is a fantastic option for you. You don’t have any troubles with inventory control as a direct mailer. The order will be sent to a company that processes shipments, returns and branding when your shop sells a product.
5. Website flipping
The term flipping comes from the real estate sector, where investors purchase property, remodel it to add value, and then sell it at a higher price. With website flipping, an investor or investment team is buying an existing, niche website, increasing its value, and selling it at a profit. First, you buy a website that you think has potential to increase more sales if it is maintained better. Then, you improve the site with SEO, link building, a new design or even a new domain. Since domain names become more expensive, domain flipping can be expensive though.
If you see that your website starts to increase more revenue, you can then think about selling it. But don’t act too quick – buyers often want to see successful records over a few months rather than a few weeks.
Take Away
It takes hard work until the money flows in and you have a nice income next to your job. Don’t expect that you can quit your job immediately after you started an online business – only 12% of online bloggers can maintain a lifestyle or support their family with their blogs. In fact, less than 5% of bloggers earn more than £7,000. If you do belong to the lucky 5% generating a high amount of income, you should consider covering your work with business insurance. This will secure you from everyday risks and make sure that you get compensation.
However, 81% of bloggers have an income from their blog that doesn’t exceed £100. Therefore, you should see online business as a nice way to give you some extra money rather than a convenient income stream that affords your whole lifestyle.