Posted by Mitch Mitchell on Nov 6, 2014
Whether you have a business website or are trying to make money off the web, invariably just being online offers you the opportunity to make money in some fashion. Many people have an idea of what making money online means to them, but it’s often a limited view, which you’ll see if you visit “make money” websites or blogs. I’m going to give you some of the basic ways that people make money, whether directly or indirectly, and a general idea of how it’s done; I’m betting most of you know these ways already.
One, you can make money by selling products. This is the easy one that most people think of, as you can sell products you make or products someone else makes. Affiliate marketing works well for some people who have niche blogs or websites.
Two, you can make money by selling services. You find this more often with people that offer coaching, counseling or consulting services.
When you think of this model, you have to think both short term and long term marketing. For instance, if I have a link up it means I’m trying to sell short term services; not necessarily that I’m hoping you’ll only use me once and go away, but these are immediate services that I want to be paid up front for.
When you have a business website and you provide services, most probably you’re working on long term services, which doesn’t mean you only offer services that last a lifetime, but are looking to build your authority and presence over time so that you can become known as an expert and thus charge more for your services.
Three, you can make money by accepting advertising. Within this model you can include things like Google Adsense and other pay-per-click (PPC) or pay per subscriber/buyer models. If you have a business website you should think long and hard as to whether you want any type of advertising on your site because there’s the potential of you sending people away. However, if you have other sites like blogs that don’t talk about business specifically, accepting advertising is a great way to build income, but you have to be cautious in how you do it.
Advertising can also take other forms. If you write a blog on a certain subject you’ll often have someone ask if they can pay for a link on an article that pertains to what they do. That’s one of the powers of being a prolific writer; there’s always someone willing to pay for some authority to link back to their site. Being known as a publisher or content curator of original information can pay well.
You need to evaluate your business to determine what your websites goals are. If you’re highlighting your business, then stay away from many forms of advertising. If you’re somewhat flexible, there are lots of options you can explore.