You’ve likely already figured out that if you want to generate an income from your website you need to monetize it. In fact, you might have already looked into the most talked about ways in which you can generate cash from your website. These include affiliate marketing, pay per click advertising, selling ad space, accepting donations, accepting sponsored posts, building an email list and so on.
While every one of these monetization ideas is definitely worth considering, it’s important that you don’t think that they are the only options available. Truth be told, there are actually many other less common but still effective methods for generating revenue from your site.
Here’s a look at 10 of the not-so-common ways you can monetize your website:
- Go mobile – While this may sound like a no-brainer, for brands that didn’t start off mobile, it’s not automatic to create a mobile presence. That said, whether it’s common knowledge to you or not, it’s imperative that you make your site mobile-friendly or design an app that best represents your brand. Once you’ve got an app, you can expand on your monetization efforts with video banners and more.
- Give away premium content for extra cash – If you are producing content that users absolutely love, have them pay to access it. You don’t have to charge a large fee, but there is no reason why you shouldn’t try making a profit in any way that you can. That said, make sure you have a growing and interested audience first before you gate your premium content.
- Offer consulting – Consulting services can generate a significant income if you know how to sell it and you’ve got what people want. Best of all, these services can easily be offered via email, Skype or a forum.
- Sell or rent internal pages – While not the most common way to monetize, this doesn’t mean it can’t be effective. If you have internal pages you can sell or rent, try offering them to someone who wants to buy. You’d be amazed at what some people are willing to spend on.
- Sell an e-book – Create an e-book and sell it on your site. You can write an e-book on anything related to your brand or on any subjects your site might cover. For instance, if you have a website about cooking, creating a recipe e-book and selling it for a small price is a great way to earn some extra cash. Don’t want o sell an e-book? There’s other digital products that you can create and sell such as music, video, podcasts, etc.
- Display audio ads – This is a newer trend that is showing a lot of promise. More and more people are streaming music worldwide. According to research, US Marketing and media professionalswill allocate over 11% of their budget and inventory to Digital audio ads by mid 2017. Audio ads could very well play an important role in the future of website monetization.
- Offer coupons – Everyone loves a good deal! People look for sales and discounts all the time, so why not give them what they want and earn a little cash on the side. Find coupons relevant to your site (with affiliate links) and you can enjoy a cut of the revenue.
- Use monetization widgets – Looking for an alternative to Google Adsense? Give monetization widgets a try. You’ll find that there are many forms of monetization widgets from interactive marketing to acquisition, ecommerce and more.
- Paid private forum – This is another great way to generate steady income and a larger user base. Just remember that if you’re going to offer a paid private forum, you need to have a very strong unique selling point (USP) to be able to justify the fee and why it’s a member’s only forum. People will pay for premium content but you have to give them a reason why.
- Copy your competition – This is probably the best tip of all. Find out what your competitors are doing and where they excel. Use their success as guidance and mimic what they’ve done while adding your own unique twist. Equally, see where they are failing and avoid those pitfalls.