The key to having a website or blog that makes you money is to incorporate as many different money making strategies as possible. From products and services to advertisements and sponsorships, a diverse array of income streams maximizes the opportunities that you have to bring in revenue. I’ve listed my favorite ways to promote income generating opportunities below.
Running a special promotion to boost sales of a product, attendance at an event, or subscriptions to a service helps increase income by suggesting urgency. The language of a “special promotion” encourages buyers to purchase more impulsively, buying something more readily than if the product was presented at its standard price.
Countdowns also rely on the purchasing power of urgency, while adding the excitement of a launch or new product. Counting down to an event or launch shows site visitors that they have a rapidly shrinking window to make their purchase or prepare to buy, encouraging them to make their decision faster.
While you can certainly incorporate reviews of your own product onto your website as a way to highlight your product or service and boost sales, reviewing the products of others is a great way to introduce an additional revenue stream to your site. Companies sometimes offer affiliate links or discounts to those who leave reviews on the company site or write up full blog posts on their own website or blog. This is a great way to introduce passive income because once the post is written, you can continue making money off of your review.
Sponsorships can help you monetize your website or blog in two different ways: long-term partnerships and sponsored content. For long-term partnerships, you develop a relationship with a company where, for continued promotion and review of their product, you receive a stipend or set price per post. For sponsored content, you are typically required to write a blog post and promote the product or service on social media for a set fee. Individual pieces of sponsored content, if done well, can lead to sponsorships over time.
These are just four of the many ways that you can monetize your website and blog. What are your favorite ways to diversify your income?