Simply put, monetization refers to earning money from your website. Perform an Internet search on “site monetization” and you will find a wealth of methods on how to earn wealth from your website. And for each method to monetize your website, there are numerous vendors offering “solutions” for free or a fee.

Monetizing your site requires a thoughtful plan and a lot of patience. If implemented correctly, your monetization plan can not only earn money, but also provide complementary content or services that your site visitors value and gives them another reason to visit your site. Implemented incorrectly, you risk wasting your time and alienating your site visitors.

Examples of Site Monetization Methods

Below is a simple list of methods to potentially earn money from your website.

• E-commerce Site. The obvious way to earn money from your site is to have an e-commerce site (a site whose primary goal is to sell goods).
• Membership Fees. If your site offers content for which visitors are willing to pay a fee, you can establish pay-for-access.
• Ads. There are many types of ads you may place on your site. Google AdSense is a popular advertising option, but there are other vendors with similar offerings. Other types of ads include in-text ads and audio ads. Earning money from ads requires a site that gets many visitors. Furthermore, getting paid for ads typically requires that your visitor clicks the ads (not just have an ad impression).
• Affiliate Programs. Earn commissions (potentially) for products and services when one of your site’s visitors makes a purchase from a link on your site.
• Donations. Does your site provide a service that a visitor may wish to thank you and provide you a one-time donation? If so, you may wish to add a donation function to your site.

Your Monetization Plan

Follow these high-level steps to develop and implement a site monetization plan.

1Carefully assess which method or methods are best for the nature of your website. Discard all methods that do not complement your site.

2Determine your ability to implement the technical requirements that many of these methods require. Do you possess the programming skills or have access to the necessary resources?

3Research the vendor options for the method(s) you wish to implement. Assess the pros and cons that each vendor has to offer. Document your research, as vendors often change their programs and ones that may be the most attractive today may better serve your needs tomorrow.

4Implement your monetization solution(s)

5Monitor and evaluate results. Part of your evaluation may include conducting a survey of your site users. Ensure that you understand how your visitors respond to your monetization method(s).

6As required, revise your monetization methods as your needs change or as programs change or new programs are introduced.

Summary

The ability to successfully monetize your site varies greatly. LearnHerd can help you think through your options.