There are three ways to monetize your website in 2020 that actually work.
I’m going to go through each of them in this post, finishing off my personal favourite method and the one I most recommend!
Let’s start off with the most obvious one – selling products online!
E-commerce is pretty straightforward to explain but the most complicated and annoying platform to actually run. You have your own product that you’re selling independently on your website.
The way to do this is to 1st have your product, have a lot of media of your product that you can promote on your site and to have an ecommerce store embedded in your website. Luckily, adding an ecommerce store to your website just means getting a plugin like WooCommerce.
Alternatively, another good platform for selling stuff online is Shopify.
Personally, if I was going to build a business selling a few items that I was making And I wanted it to be very simple And I knew that I was going to be using mostly paid traffic then I would definitely use Shopify.
If on the other hand my goal was to mostly use organic traffic and have a website with content but also that was selling stuff then I would use WordPress with a WooCommerce plugin.
Well you have to consider in this case is whether you want to create a lot of content around what you’re making. Having an online store works well for small businesses that have a very specialized product that they create or a distinct and reputable brand.
Think of how the independent sites that you shop at and why you shop there. It’s either because they’re selling something that no one else has or they’re doing something better than anyone else. What comes immediately to mind are businesses like hand-made jewellery makers, specialized fitness or beauty products or things that you can’t get anywhere else.
So you have to think about weather you want to create a blog around whatever it is that you’re creating. If you do have a lot to say about your creative process, or anything else about the product and why it’s so useful then it might be smart to have word press as it’s easily optimizable for Google search rankings.
As a general rule, it’s always a great idea to try and get organic traffic because you obviously don’t have to pay for it and it’s a cumulative thing. Overtime, your rankings usually go up if you are working on your website or people are visiting it and actually spending some quality time on it. This means, that increases the value of your website overtime and his worth the effort unless your goal is to really be as hands off as possible.
When you run any ecommerce store, there are a few things that you have to consider:
First of all, you need to have inventory. If you’re making your product, you need to realize that there may be difficulty scaling the operation therefore it’s automatically limited. That being said, if you are a passionate creator and you have the ability to create an item that people want then it’s a great idea to have an ecommerce store.
The other thing about ecommerce, is that it’s not as amenable to organic traffic as other types of monetization on line. As we talked about above, you can definitely position your website so that it’s mostly a content website with a store attached to it. But if you’re already making this product from scratch, you might not want to dedicate time to also creating a bunch of content.
Paid traffic means whatever you’re selling has to be expensive enough that you’re not going to make money through the slimmest of profit margins. This is because if you’re creating the item , you’re not going to be able to create it in a high enough volume to actually make money if your profit margin is only let’s say $2 .
Furthermore, gaining traffic through paid methods obviously means that you have to put in quite a bit more money into this style of business compared to others. Although it is theoretically possible to immediately start making money back when you put money into paper click advertising or other types of advertising, usually it takes a little bit of tweaking and perfecting before you actually start making a profit.
2 Types of Paid Traffic:
#1: Pay per Click Advertising (i.e. Bing, Facebook, Google, etc.)
Pay per click advertising is exactly what it sounds like. Basically, you put an advertisement on a big platform where a lot of people will see it such as Bing, facebook or Google. Then you pay for each time anyone clicks on your advertisement.
Facebook is relatively cheap And Google is very expensive for each click. In order to optimize this type of paid traffic you have to make sure that you’re making a Prophet off your clicks on average. Let’s say for example each click costs you $0.30 and you need 100 people to click before someone buys your product on average.
This means that you need to be selling the product for at least $30 for the paid advertisement to break even and significantly more for the paid advertisement have really be worth it.
#2: Guest Posting on Popular Websites (i.e. Magazines, Authority Sites, etc.)
Guess posting can be a good idea depending on the price. It is nice because you know that the guest post is going to stay up on that website for good usually.
The problem is it’s harder to track how many sales actually came from that post. This means that it’s hard to optimize. Usually, this type of advertisement is a good idea once you’ve already started to make some profits and you can just reinvest those profits to do some guest posts on relevant authority sites across the Internet to get the word out there about your product.
The higher quality the authority website, the more expensive the guest post will be.
A quick word about drop shipping…
I’m not going to say too much about drop shipping because it’s a model that i really don’t like. Personally, I don’t think it’s a very legitimate business model and I don’t recommend that anyone does it. That being said, there are a lot of people on line who still make money on this business model in 2020.
I do think that this is going to go out of style and become less and less profitable overtime. With competing websites like Amazon , it’s very hard to keep this type of business model afloat.
Dropshipping is an e-commerce store that acts as a middle man between the factory and the consumer. When I say factory, this means product from Alibaba essentially. On drop shipping websites you do not want to hold any of the inventory because you’re selling from the factory to the consumer. This means that delivery times are long because you were essentially organizing the product to travel directly from the factory by DHL shipping to whoever you sold it to.
When you sell the product, you are obviously going to sell it at a increased price compared to what you bought it for from the factory. Since people can buy things directly from Ali Baba it doesn’t really make any sense to me how dropshipping sites for adding any value. Basically the function of dropshipping websites is to create a pretty front to sell items directly from the manufacturer to the consumer.
The only thing I can think of, is that your model modifying the product slightly from what it originally was such as paying extra for special fabric or something of the sort. This, however, is getting into creating your own product rather than the drop shipping model.
Usually, the profit margin on dropshipping websites is very small because the products are cheap so you need to sell A LOT of items to make any real money. Also, you have to be selling a product that’s 1) in demand and 2) unique.
If someone can buy something from amazon and get it delivered to their house in 2 days, they’re not going to wait weeks to get it shipped from the factory.
Adsense websites are only going to make any real profit if the website gets a LOT of organic traffic. For this reason, these sites have to be extremely well built, have a lot of amazing content and be well optimized for search engines. Mostly, they have to be huge websites driving a lot of traffic from search engines. Once the website reaches 25k – 50k in monthly traffic, it starts to become possible to monetize it using ad networks.
You can definitely monetize it earlier on and make a little bit of money here and there while you’re growing the website but it’s not going to be a lot.
3 Advertising Networks that you can use:
Mediavine is a higher end platform only available to websites that are driving at least 25k sessions per month. That being said, they will make you the most money and the ads are super easy to put on your website and are very responsive.
Adsense is hard to use – there’s a learning curve. You can use them on any website though no matter how big or small
Media.net is Bing’s alternative to Google’s Adsense. I personally find that it’s easier to use and the payouts are similar. You can also use this on any website.
#3: Amazon/affiliate (My Favourite!)
Affiliate websites are also content websites. The advantage of affiliate websites over advertising websites is that you don’t need nearly as much traffic to make a good profit.
Your focus when building an affiliate website is going to be to create a high volume of good quality content on your website that relates to whatever types of products you want to promote period of course it’s also necessary to ensure that the products you’re promoting have affiliate networks so that you can earn a Commission when you link them in your articles.
One of the most popular affiliate networks is through Amazon. Through Amazon’s network, you can essentially get access to almost every single type of physical product. Personally, I’m not Amazon’s biggest fan although I do use them. My main affiliate programs focus more on digital products and independent businesses that I like to support.
Personally, this is my favourite way to monetize a website because you’re building a long-term asset when you create a content site.
I actually mix methods 2 & 3 most often and build an affiliate website with monetizing through an ad network as well. I just make sure that there are no ads on any of the pages where I have my main affiliate links.
The things I like most about being an affiliate:
- 1) You get a percentage of money from the company selling the product for advertising – the person clicking on your link doesn’t pay any extra
- 2) You don’t ever need to be “salesy” – you can just talk about the product and then add your link
- 3) You just need your laptop – you never need to worry about inventory (technically, you don’t even need a blog)
- 4) You don’t need to create fancy funnels, sales tactics and you don’t need to worry about PPC if you don’t want to
I learned how to do build out my affiliate blogs with a step-by-step video course. If you want to try, the 1st phase of the course is 100% free (no credit card). Click the “start for free” button below to access it today:
If you have any problems at all accessing your free video course or have any questions about monetizing your website, please don’t hesitate to comment below and I’ll do my best to help you out!