Few people would argue with the necessity of having an online presence in today’s market—how else are folks going to find you? But your website can be much more than just a way for customers to find you. Your company website can also be a moneymaker for your business. Here are a few simple ways you can use your website as an additional revenue source.
These days, the digital version of classic advertising is known as direct advertising. A business places an add on your website or specific pages within it, and pays you for the duration of the ad life. To be able to make direct advertising work for you, you’ll generally need to have a good knowledge of your website traffic stats (which you should anway).
Advertisers typically want to know that your website is attracting the right market for their products and/or services, so you’ll need to be able to show data on who your customers are. If you’re not the type to spend time crunching your website data, try checking out online advertising programs to see if you can enroll in one that will do the work for you.
Sell Products Directly
You can also try selling products directly on your website to generate extra revenue. For those unfamiliar with the e-commerce store, the basic idea is that instead of a link directing customers to another page to purchase a product they can purchase it on your page directly. You may have noticed this with the rise of Facebook Market or Instagram Shopping.
The bonus is that setting up an e-commerce store isn’t actually very difficult. It’s easier than ever to add an e-commerce store to your website with easy drag and drop features. Depending on your own market niche, some products may already be highly compatible with your wares.
Join an Affiliate Marketing Program
Affiliate marketing programs.are similar to allowing for direct advertising, but it’s not quite the same thing. Affiliate marketing is sort of the digital version of authority appeal, to use a marketing term. Here’s how it typically works.
An affiliate will place an ad on your website, but instead of a direct encouragement to buy a product or service, the ads often aim to collect information. Affiliates typically pay for engagement, not just sales, and the goal has a broader application than direct advertising. Affiliate marketing ads are often targeted towards building brand awareness with a select customer base. It’s not uncommon for affiliates to offer “free trials” or coupons in exchange for customer engagement.
So there you have it…a few simple ways to monetize your website. Which strategies will work for you?
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