When it comes to finding ways to monetize your website and making money online, the best thing I have found is to use a variety of different techniques and to always be testing.
This blog makes money by selling our own online courses, software, and other peoples products as an affiliate.
However, there are a lot more than two ways to make money online.
Every site needs to be treated differently.
1. Sell Your Website
Definitely my favorite of all the above and also the one that pays the most.
Selling your website can make you very wealthy, or it could be just a nice retirement fund. Whatever it is, it can be a great way to get a large lump sum of cash.
Typically, websites sell for 12 – 24 months revenue, however, if your site is old, has something unique about it or is the authority in your industry then you can expect any figure you want. I have seen some blogs go for over 200 years revenue and it didn’t even make $100,000 a year.
Work hard and it will pay off.
It is important to remember if you sold your site for 2 years revenue and it made $5000 a month, you would get $120,000. To earn that amount of money it could take you 6 or 7 years because of expenses and taxes. You also have to factor in how long it took you to build your business. If it took you two years and you sell for $120,000 – then it would be like earning an extra $60,000 a year.
2. Offer Live Training and Workshops
Just like selling consulting and services, you could also use your blog to sell live training, workshops, and seminars.
People read your blog but I wouldn’t be surprised if over 80% don’t act on what you say. Having a workshop means they learn from you and implement with you, this is a very attractive offer to some people and they are willing to pay high prices to do it.
You don’t just make money from the price of the ticket but you can also make money from selling follow-up workshops and masterminds. If you bring in speakers, then you also collect 50% of everything they make if they sell from the stage at the end. Another thing to consider is recording the event and then selling that as a product on your blog.
Putting on an event is a daunting thing, however, it really isn’t too hard. Ring up a hotel, book a conference room, now you have a date, write a blog post and send everyone on your mailing list to that page.
Mention your event everywhere and keep hustling! Apart from that, all you NEED to do is create your slides and turn up. Some of my friends even hire people to run everything for them so they don’t have to worry about the event side of things themselves.
3. Write Tutorials & Promote Something
Another thing I don’t see often, but I love to do!
Content is what everyone is after, that’s why they come to your website, so create content which includes them buying something so that when they do buy, they buy via an affiliate link, and you make money!
What I do to create a tutorial is start with the product, find one that you are using and you get a lot out of, it, of course, needs an affiliate program. Then do a tutorial about doing something using that tool.
So, for example, it could be a post about Photography and take a specific type of photo but you need this lens to do it.
4. Host Webinars & Sell Something
Although I tried this year and didn’t have good results, I think that was down to promoting other people’s products instead of my own.
People get on webinars to hear you speak, not someone else to do a sales pitch. What you do is set up a free webinar that you reply once a week where you teach them something and then at the end you sell them into 4 more webinars. Once you complete the webinar series, you now have a product that you can sell as a home study course
Start by buying GoToWebinar, personally I would host a free webinar and not sell anything on your first one so that you can get in some practice with the software and talking live with people.
Lewis Howes talks about setting up successful webinars in a recent interview we did together.
5. Sell Paid Directory Listings
This isn’t very common but I believe it should be.
I see it as a smart way to sell advertising, you see instead of putting adverts on your sidebar, you have a directory on your blog where you link to different company’s and websites in your industry and charge a premium for the listing. If you charged a monthly fee, so for example, say you had 1000 people listed in your directory and charged $7 a month, you would earn $7000 a month in continuity.
In some ways, this is actually beneficial to the reader, say you have a website about becoming a model, in the directory could be a section for photographers, where photographers pay to list their services. Models will come and look for the right person to take pictures of them for their portfolio, helpful and profitable.
Just like a job board, I would add adverts to my blog, promoting the directory to make sure customers are happy with the number of people seeing their ad and the traffic they get. To start with, I would even advertise on other sites to get people to list in your directory, as well as reaching out to people and company’s to buy a listing.