It’s 2021! And, in the present scenario, generating income from a WordPress website is not a myth anymore. Whether you have a specific skill or not, with the help of monetizing, anybody can make a hefty amount each month. On top of that, turning a regular hobby into an income-generating asset with WordPress is increasingly becoming common. If not a lot, you can at least make a satisfactory amount to cover the basic expenditure to keep the site up and running. If you are looking to find an answer to the question how to monetize a website, you are in the right place!
Let’s find out some of the smart ways for monetizing your WordPress website in 2021.
What is Website Monetization?
For the ones who are not extremely familiar with this concept, website monetization is a simple procedure of converting traffic into revenue.
However, before you start monetizing your website, it’s recommended that you get adept at the latest tricks, techniques and strategies to do the same. This will help you easily figure out where exactly you are going wrong and what are those things that you can do better during the monetization process.
How To Monetize A Website – Strategies
1. Sell Your Own Digital Products
If you are capable of curating or generating your own products, you can easily improve your potential to make money on the basis of per-sale by selling your products directly. The reason behind this is that you will not have to deal with any middle people who would take away a cut or a share from every sale that you got into your basket.
This methodology looks seemingly straightforward as you can directly sell the products, be it eBooks, templates, icons, graphics, etc., on the website and receive the payment immediately. However, this might not be an easy road for everybody as selling the products may cause certain issues, such as taxes, shipping, payment gateways, etc. If you think you can easily handle the technical side of this option, you should definitely go for it.
2. Display Ads on Your Website
Displaying ads on the website is one of the best ways of monetizing the website. This is one of the most commonly discussed topics when it comes to the question – how to monetize a website. To help you with this, WP AdCenter is the WordPress Ads management plugin that brings an extensive list of features. With this simple tool, you can easily insert Google AdSense and banner ads on the website and manage the same seamlessly.
This way, you can also display ads from varying third-party platforms, such as Amazon, Media.net, and more. The best thing about this method is its simplicity. By uploading an ad, you can earn a specific amount every time somebody clicks on the ad. If you don’t want to display an ad yourself, you can also sell the ad space to sponsors.
3. Affiliate Marketing
When you are thinking of how to start making money online, Affiliate Marketing would be one of the first things to come to your mind. Affiliate marketing is not just the popular but quickest method to make a satisfactory amount from your blog or website. You can begin by looking for a product that you prefer and would like to recommend as well.
After that, you promote that product on your website to your email subscribers and website visitors. If your target audience resonates with the products, they will click on the affiliate link and buy the product.
This way, you can earn almost half of the sale price upon every sale. Basically, the commission can be anywhere between 30% to 70%, depending upon the product and your affiliate associate.
4. Creating eBay Styled Auctions
Another method of monetizing the website is by creating an eBay-styled auction service on the platform. Through this method, you can sell your or others’ products on your website to people residing across the world. So, if you are thinking of how to start making money online, this might be the thing for you.
If you are clueless about developing auction services on the website, you can take help from WP Auction Software – a tool that helps you create a variety of auctions, such as forward auctions, penny auctions, and reverse auctions.
5. Launch an e-course
Launching an e-course is a no brainer whatsoever. In the current scenario, plenty of people are selling eBooks and digital courses on their sites. To do so, you can enhance the existing skills and share the same with others.
For instance, if you are a professional digital marketer, you can create a course to teach people the basics of this service.
When monetizing a blog or a website, you may end up spending days correcting and rectifying every information on the website to attract more traffic, isn’t it? But what planning have you been doing to make the website law-abiding?
Since WordPress is flexible, you can easily find an array of ways to earn a handsome profit from the site. Now that you are aware of how to monetize a website, you must understand that while every method works for a certain type of creator, there is no such solution that is perfect. Thus, it is recommended that you test and try before zeroing down on any one method.