This is the one post I will make without having credentials backing my words. I will just share what I know and maybe you can learn something. If you have any trade secrets or advice for me I would appreciate it. There are these negative connotations associated with the idea of monetizing your site. I don’t understand why this is, I mean we pay to create a website, we put hours upon hours of time into postings, is it unjust to try to earn some compensation. Lets be honest, unless you are the NewYorkTimes or some other major publisher we are not getting rich. Hell, I have yet to earn a happy meal from my site, although that is not my intention(I still wouldn’t mind it). We are all plagued with financial obligations in life, I have a family to care for. So if someone has an issue with ads running on your site or a few affiliate links, that is their own problem. I am happy to support other publishers. So how do you turn your hobby into a form of passive income? Well hell if you know something I don’t, let me know. So far this is what I got: affiliate links, advertisement, digital products, memberships, and donations. Lets review these below.
Affiliate links: Probably my favorite monetization strategy is affiliate links. Post products you actually stand behind and receive a small percentage from that sale. So if you click an affiliate link I posted, even if you purchase something other that the product I linked, i would still earn a commission. Keep in mind commissions are probably going to be between .25 cents and 5 dollars depending on the price of the product you are selling. So you are going to have to sell a lot of products to make any meaningful cash. My favorite is Amazon Affiliate links. If you send someone their way for the next 24 hours you earn commission off of anything they purchase. Check out how affiliate links work below. Clicking those boxes takes you right to Amazon.
Advertisements: Ads pay you multiple ways, the method I am familiar with is CPM. CPM= the amount of money you will earn per 1,000 views. With CPM advertising, clicks do not matter, just views and exposure. Currently I am earning .04 CPM. I earn 4 cents per 1,000 views. The average CPM in the U.S. is 2.50. So if you had 100,000 views a month with a fair(2.50 CPM) you would make 250 dollars. Keep in mind if you had multiple ads(4 on your page) you would earn 1,000. I am currently rather unhappy with WordAds as I feel I am getting an extremely unfair CPM. With that said I am new to this blog life and will likely change Ad sources when the time is right. Any suggestions?
Donations: You can set up a donation link on your website. If you create good content I don’t know why someone wouldn’t donate to your site. People need to realize creating content takes time. If you are giving advice, education, knowledge, or even entertainment, it is only fair to charge people. With that said if you try to charge everyone you will likely have no followers and never get your site off the ground. Now if you ask for donations no one is obliged to pay, so maybe you will get lucky and earn a few bucks from donators.
Digital Products: These include e-books and other subscription services or purchases. You earn commission based off your sales.
Memberships: If you are brave enough to charge for memberships, you’d better have some damn good content. I mean like some masters level education content. If you don’t you will loose visitors. I post BA level business techniques on here and I knew if I charged a subscription I would have roughly 0 followers.
What do you think?
What is your favorite way to monetize your site? Do you think it is off-putting when you visit someones site and you see ads or affiliate links? Comment below.