Introduction to Monetization
Perhaps you noticed that the Monetization button is almost at the bottom of the list. That’s because most people make the mistake of focusing on making money and forget about the other components of a successful site. Of course you should have a plan about what your site will sell and how, but the implementation of that plan comes last in the process of successful site building.
Content, content, content
In the brick and mortar world, the old aphorism location, location, location is an important consideration. In the online world everyone occupies the same real estate—cyberspace. In cyberspace what customers want is information, information, information.
Before you can make money from your online business, you must have a means of driving traffic to your site: no visitors, no sales. But before you can drive traffic, you must have captivating content to attract visitors. Therefore, your first job is to build content—tons of it. Keep it fresh; give people a reason to return. Become an authority in your niche by providing entertaining, informative, and useful content.
When you build those Web pages, page after page after page, be certain to make them keyword rich with content to match so that the search engine spiders will find it and give you a high ranking.
Drive traffic to your site using all the tricks and tools you can muster such as article marketing, paid ads, banner exchanges, joint ventures, and all the rest. However, the real secret is to pre-sell your visitors. That is to say, motivate them to want what you have to offer before they even visit your site.
This is the trick that converts visitors to customers. What good does it do if you have thousands of visitors who never buy anything? You may just as well go back to your day job. Motivate your customers before they even arrive at your site through all your promotional efforts.
Just because the actual monetization of your site should come last, it doesn’t mean that you shouldn’t have a clear vision of how you are going to produce income from your site from the very beginning. Let’s review some of the possible ways to generate income online. The rule of diversification in investing so as not to have all your eggs in one basket also applies to producing online income. Try to make your site generate as many income streams as possible. The list below will give you some ideas. Use as many of them as you can. You don’t have to do them all at once of course, but introduce them as appropriate over time.
For some specific suggestions, please read my article entitled Monetization models: 21 methods.
Certainly an important aspect of monetization concerns automation. To learn more about the tools required, please visit the Automation section of this site.
RETURN TO MONETIZATION TABLE OF CONTENTS
For information on non-profit monetization, please visit my blog on the subject..