Ready to turn your website into something more than just a website, and also a source if income? Here are 10 ways to monetize a website in 2020 that will help you do just that!😉
1. Affiliate Marketing
This is one of the most popular ways for people to generate income, especially when it comes to review sites and tips sites.
You mention a product you use in a helpful post. You provide a link to it. Someone buys it. You make a commission.
This is a super simple way to monetize your website in 2020 while also helping people.
Amazon Affiliates is a great example of this.
If you have a website about cameras, and only 1 person buys a $1000 camera at 5% commission, that's $50 by itself. And if people are reading camera reviews, it's because they want to get a camera.
2. Donations so That You Keep Creating Content
Why should someone give you money for something that's already free?
For a very simple reason.
That people love great content.
...And they love a lot of it.
If you make content that keeps people returning, you bet that they will pay a few bucks every month so that you can create 1 more post per week. That's a super simple way to monetize your website with content that people find valuable.
3. Pay-Per-Click Advertising
This method involves you getting paid for every time someone clicks on an ad on your website, and is a common monetization tactic that's not just used on websites like yours, but also by platforms such as Google which displays ads over organic searches on Google.
4. Native Advertising
Native advertising is starting to be considered the king of display ads, and for a reason.
Standard Banners look like viruses meanwhile pop-up ads, we only click on them, because the x is too small to exit.
That's for sure not the type of advertising you want on your site.
And that's where native advertising comes in as a more engaging form of visual ads which is one of the reasons $52.75 billion is expected to be spent on native ads in 2020. (Although that number will probably differ due to the Pandemic issue.)
How does it work?
Publishers use platforms like Brax to to control their ads across many native ads platforms such as Nativo or Taboola, being able to select between a range of high-quality advertisers like yourself.
That content most often gets displayed among other organic content on your sites, for instance in the recommended category.
5. Selling Ad Space
Just as you can sell ads on your property, you can also monetize a website by selling a portion of your website.
If you got to Best Products, you will see that there's always a banner space at the top displaying an ad there.
6. Sell Your Own Products/Services
If you are attracting people to your website, why not monetize a website with your own services or products?
This does take much more work than all the other tips on this, and for sure is a bigger risk, especially when it comes to physical products, but it might be an investment worth taking.
And perhaps you can then reverse all these ad strategies into selling your product.
7. Sponsored Content
If you are frequently on YouTube, you probably seen a sponsored piece before.
Sponsored content is a blend between native advertising and affiliate marketing.
It's the act of somebody directly paying you to host a specific piece or to make a specific piece including something, sometimes also with an affiliate link.
The benefit of this method? It allows you to work together with companies, and gives you more control over what content makes your website which you might not have through all the mediums, as you won't see every single ad that displays for everyone, through all these monetization methods.
8. Membership Websites
This is a method that's been commonly incorporated by news websites in the last couple of years.
You pay to read.
In many ways, this is a great to increase income compared to the donations method, as while not everyone will bother to donate, if they love your content and have to pay, they will pay.
You have to be careful with this method, though.
It's important to keep your audience.
Perhaps mix it up a bit, and offer some content for free, mixed in with some extra content for premium users.
The Athletic are a fantastic example of memberships.
Meanwhile most news sites are starting to charge to show content that would have been previously free, The Athletic offers a premium membership in exchange for premium writing content.
And that makes the subscription so much more desirable.
9. Flip a Website
How do real estate people make money? They don't buy a house to sell it for the same price, right?
They make it better, and charge for it.
People do the same for websites.
Flippa is a great example of service that allows you to do this.
10. Video Ads
Just as you watch ads when looking through YouTube videos, people can watch ads when on your site.
Most websites with videos offer video ads before a video plays.
If the videos on a website are relevant, this method can work fantastically as videos speak more than pictures, and for sure a lot more than text.
These Are the Best 10 Ways to Monetize a Website in 2020
If you are looking to take your website to the next level in 2020, these are the most practical ways of doing just that.