Whatever type of website that you decide to operate, making it profitable is easier said than done. While hordes of companies are keen to sell you any kind of service on a subscription basis, few are willing to confirm how it will improve your bottom line.
By the same token, many new site owner-operators are unclear once they’ve launched their site, how exactly it will become profitable? Some simply launch and hope it will take care of itself whereas others at least have some basic, but yet unproven theories.
Unlike a brick and mortar business, a website can provide some useful passive income. To get you started, here is how we’d suggest trying to make your website profitable.
Keep Operating Costs Low
Digital businesses don’t need to be overflowing with monthly or yearly expenses to keep going. There won’t be an expensive office lease, rent to pay, salaries, bonuses, and more.
For instance, if the site earns money through affiliate referrals and advertising, then it only needs a writer and someone to maintain the site.
Keeping site expenses low by saying, “No, thank you” to all non-essential business services and products offered reduces the operating expenses to a minimum. Doing so makes it easier to get in the black and achieve a modicum of profitability.
Embrace Display Advertising
While it may not be seen as a major money-spinner, display advertising is commonplace today. It doesn’t put off visitors anymore because it’s less obtrusive and ubiquitous.
Developing products to sell will require time. Also, it’s necessary to understand your market based on your visitors, rather than creating something and merely hoping it sells. Advertising revenues will help to get some revenue in the door while products are being created.
Use ad revenue managers like Ezoic or Monumetric to access higher-paying ads that use header bidding. Header bidding is a way to obtain more competitive rates for advertising shown on your site compared to AdSense.
Create Products to Sell
Products can be an excellent way to market to an existing audience. Marketing products on a site with minimal traffic is likely to fail, so bear that in mind.
The product can be whatever will appeal to your audience. This may not be the same as what you wish to produce, which may be quite different. Communicate with visitors by submitting a survey suggesting several product ideas. See which ones are voted the highest. Then refine your ideas further.
Taking a more cautious approach means you avoid spending time and money developing a product that no one wants.
Ask for Donations
For certain categories where the information provided is in-depth and not available elsewhere (or not cheaply, anyway,) requesting donations can work.
Other sites where what you’re providing is ten-a-penny won’t work. People may see some value there, but not enough to warrant donating to the cause.
Look for Free Promotional Opportunities
Promoting the website is one of the best ways to drive traffic to it. While you can wait for search engine optimization efforts to pay off, it’ll be a year or longer until they do.
Look for any free promotional options at your disposal. This could be using Pinterest to share graphical pins promoting content from the blog, getting booked as a podcast guest, or having notable industry veterans guest posting on the site and bringing their considerable audience with them.
Taking time out of each day to brainstorm promotional efforts can transfer attention to the site. In turn, this will drive higher traffic to it. Once the increased direct traffic is noticed by Google, they’ll play catch up by recommending the site more often for search queries. This is also true with strong social traffic too.
There isn’t a single recipe for either getting to or increasing profitability for a website. Instead, it’s a series of steps is required to work towards this noble goal.
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Mohammad
8/27/2021
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