5 Effective Ways To Monetize Your WordPress Site In 2020
WordPress is a free, open-source platform that everyone can use. It offers a lot of tools where you can create and manage stunning websites. However, there’s much more to this CMS than building websites. You can make money from it as well.
Building an amazing website is not an easy feat. This is especially true if you have to shell out your budget for the necessary hosting and plugins you need to stay ahead of the game. However, if you’ll monetize your WordPress site, you’ll be able to afford all the best tools out there.
In this article, you’ll learn the most effective ways on how you can make money for your site. And the best thing about it is that you don’t need to be a developer, coder, or even master WordPress to let revenue in.
One of the most excellent ways to monetize any website is to sell products. If you already have some products to offer, you can make it the focus of your site.
Of course, having a product to offer is only the first step of the entire process. You also need to set up your delivery and payment methods. But don’t worry, you have several shopping cart solutions where you can sign up for like Google Checkout or PayPal.
Moreover, you also have to think about your marketing strategy and how to drive the right traffic. For these reasons, some website owners opt to sell services instead of products. Still, selling products to your site presents some major benefits.
If you’ll take this route, you can offer digital products like apps, graphics, e-books, etc. You also need an eCommerce plugin for this. The best option you have is WooCommerce, which is specifically made for WordPress.
Benefits Of Selling Products
Unlike services, you’re not selling your time directly for cash with products. Also, you’ll have a new customer to work for each time your site closes a sale. This means that when monetizing your website with products, you don’t have to spend time working on a project for a client. Instead, you can focus on how you can further improve your offerings, as well as increasing your traffic while sales come in automatically.
Another advantage of this is that it enables you to scale. For instance, if you’re offering a paid service like coaching, you’ll be limited to what you can do. You may find it difficult to speak with a lot of clients in a day while you’re working on improving your site and living your daily life. Meanwhile, you will not be limited to how many products you can sell in a day since every sale will not be an additional workload for you.
This is an easy yet very profitable monetization method that will work well if you’re just putting your website. You don’t even need to add extra plugins to make this approach work. Simply build a basic page and put essential details about you, the services you’re offering, and how people can contact you.
Most people are not aware of it, but you’re already making yourself authority by simply having your own website. Thereby, people will seek your advice and will be willing to pay you for it. That’s why many bloggers opt to monetize their WordPress website by providing phone consultations or one-one coaching sessions via video conferencing.
When deciding on what service to offer, don’t rush it. Think carefully about what you can bring to the table and what value it can provide to your visitors. This is perfect for freelancers, including writers, designers, and consultants.
Subscriptions And Memberships
Memberships are gaining in popularity lately because there are instances when it can bring more revenue than products or services. It’s basically a product, but the big difference is that it’s not something that your customers can download in one go. Rather, you divide its content into smaller sections and then deliver it to your members regularly over time.
For instance, if you have a set of tutorials, you can send it as an entire ebook. However, if you’ll divide its content and make it a series of tutorials that you can send over time, your clients will be able to absorb it more. Just makes sure to set specific delivery schedules, and do not miss it. Plus, you instead of a one-time payment like with an e-book, you can make it the payment scheme monthly.
You’re probably wondering why advertising is not the first on this list. Well, while this may seel like thee best technique to make money online, it will not work on all sites.
No doubt, advertising works brilliantly. However, you can only take full advantage of it if your WordPress site is already a popular one with decent traffic. But if you’re just starting out, you may need to wait for some time before making a significant amount of money from it.
Still, if you want to monetize your site through ads, there are several ways on how you can do it:
- Contextual advertising. Signing up with Google AdSense is a fantastic way to do this. The process is pretty simple. Upon signing up, you can get a code snippet that you can place on your WordPress website. Once you include the code in your page, random ads will start to display in the space immediately. When someone clicks the ad, that’s when you’ll start earning money.
- Direct ad space selling. You can sell ad space directly by building a page where all ad spots available on your website are listed. It also includes prices and an estimate of the number of visitors who will see each ad. Keep in mind that this option may not be suitable for new sites.
- Semi-direct ad space selling. For this one, you can utilize a third-party service that allows you to list both your website and ad inventory in their directory. So when people want to place an ad on your site, they can close the deal with you through the third-party service website.
The concept of affiliate marketing is pretty simple. You’ll earn a commission every time a visitor buys the product you recommend. This monetizing technique is a favorite among bloggers because of this.
Once you get on board an affiliate program, you’ll be given affiliate links specifically for your site. Those links have built-in tracking. This means that whenever a site visitors clicks that link, a cookie will be added to their browser, which will then notify the affiliate system when they buy whatever the link is offering. You will then earn credits in return for your referral.
However, affiliate marketing is not without its set of drawbacks. One of which is that the visitors are not your customers. So your site may be the one getting the traffic and making the sale, but you’re not building a connection with them. As a result, you may not convert them into returning customers. Nevertheless, you can easily remedy this by creating an email list.
How Can I Use Affiliate Marketing?
The first step you need to take is to choose which product you want to promote. To make the process easier, you can simply go with some of your favorite products, ensuring that it’s related to your niche.
To see if there’s an available program for a particular product, Google its name together with the words affiliate program. Then, pick the affiliate programs you want to join in.
Once you’ve filled up their form, wait for the approval. This will usually take around 24 hours. When you’re a registered affiliate, you can now get your hands on your tracking link to start monetizing your WordPress site.
There are many ways on how you can monetize your WordPress website in 2020. However, these are five of the tried and tested ones. To get the best possible results, consider combining two to three techniques. If you have any great tips to add, share them in the comment section below.
Aileen is a Technical and Creative writer with an extensive knowledge of WordPress and Shopify. She works with companies on building their brand and optimizing their website. She also runs a local travel agency with her family. On her free time, she loves reading books, exploring the unknown, playing with her two adorable dogs, and listening to K-pop.
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