In a previous post about monetization methods we looked at three bread and butter methods that anyone can utilise to make their website start bringing in some cash. But while the three monetization methods mentioned in that post are stalwarts of monetisation strategies around the world, they aren’t that creative or fun.
That’s why we’ve produced this follow-up post. It outlines a few more monetization methods that will undoubtedly appeal to people who like to get hands on and inventive in everything they do.
So, without further ado, let’s have a look at some monetization methods that could be as rewarding as they are innovative. It’s time to start thinking a little bit more outside the box.
Create your own podcast
The fast-paced digital age that we live in today sometimes unwittingly robs us of our most valuable commodity: time.
Therefore, it’s understandable why podcasts have become popular with people who find themselves constantly on-the-go and don’t have enough time to sit down and read regular website updates.
After all, podcasts can be downloaded automatically and then listened to whenever convenient. Driving to work in the car; sitting on the train or even laying in the bath.
Furthermore, from your point of view, they represent a cost-effective opportunity for reaching your audience. All you really need is a microphone and a little bit of audio editing know-how.
Also, the beauty of podcasts is that you don’t need to be a seasoned broadcaster to successfully produce them. Simply conducting interviews or verbally expressing your weekly thoughts can see you attract a popular following.
Remember, more traffic to your site = more money earning opportunities.
Podcasts can help you attract more traffic. Plus, there’s also the potential to make money through sponsorship from people who want you to mention them/their brand in your podcast, but this obviously requires you to have a large number of listeners.
Host your own webinar
Like podcasts, webinars are another cost-effective medium through which you can engage your audience.
Now you may have had some experience in the past producing videos and uploading them to popular sharing sites, such as Youtube, but webinars are inherently different.
The appeal of webinars is that they are one-time-only viewing and people who miss them do not (usually) get another opportunity to see them. Couple this with effective prior marketing and you end up with a live streaming event which people will not want to miss out on.
Obviously, for your webinar to be successful you have to offer real value. It may be that you give a tutorial, conduct an interview or talk about a topic in-depth. Either way you need to really know your stuff and make it valuable for your audience.
Webinars can be a lucrative money spinner as people pay you a kind of online admission charge. Upon completion of payment they are given unique login details and simply have to join at the appropriate time.
Furthermore, webinars create other opportunities for you to upsell products and services to your audience.
Offer your services
Everybody is good at something and chances are that whatever you’re good at can be used to monetize your website by selling it as a service.
In fact, the service that you offer doesn’t even need to be computer or internet-related but it does have to be sellable. The ubiquity of the internet means that the whole world is literally your oyster and every single web user a potential customer.
As well as being desirable and, therefore, sellable, your service has to be something that you are comfortable providing, can do so to a high standard and is worth your while financially.
If you can’t string more than two sentences together then offering your services as a writer may not be the best idea. But, if you’re pretty handy when it comes to designing websites then perhaps consider that as a potential service to promote.
The key is to find yourself a wicked little niche then establish yourself as its rightful king or queen.
Website monetization is a broad area, but the three methods outlined above are definitely more creative and innovative in their nature and present exciting opportunities for both experts and novices alike.