Advice and ideas on how to make money online with your website or blog.
How to earn money on your blog or website
1. Accept Google ads through AdSense
Know this: Most Google ads generate less than 1% click through rate and you are only paid when someone clicks on the ad. And ad rates are very low and Google (of course) takes their cut so you don’t make much money doing this.
AdSense Revenue – the data, facts and best reports on what typical revenue is for bloggers and websites that participate
We asked bloggers and online website owners who have used Google’s AdSense about their experiences and how much revenue they made. Here are some of the most insightful comments.
Sites with bad content make more money sometimes, as the ads become more attractive than the content. I discovered this by mistake, while adding AdSense to a half-baked site I didn’t get to finish.”
My frustration with AdSense is you have to click on the ad to receive credit. The company benefited from every person who read the ad, whether they clicked on it or not. I realized it wasn’t worth it and got rid of it.”
AdSense has paid me $130,000 (over 8 years) since my first payment in June 2003.”
I’ve experimented with Google AdSense across a variety of different websites that I operate. With exactly one exception, I’ve found that not only does Google AdSense not make me a significant amount of money, it actually takes money away from the other monetization methods I use.”
During weeks with good traffic, AdSense pays for the site’s hosting and upkeep.”
Know this: The glory days are over. Contextually relevant ads generally get a higher click through rate. So do text ads disguised as recommendations from bloggers and websites.
2. Make money online by asking for donations
Look at the brilliance of what Wikipedia did by inviting readers to donate on the top of every page. Note that they specified what most people donate. That gives people an idea of what they should donate. This can work if you write a helpful blog and you don’t accept ads.
3. Accept ads from companies like Groupon and Living Social
CouponMom.com blogger Ms. Nelson told The New York Times that her website now has more than 3.8 million visitors a month, and the income it generates supports her family of four. Half of the site’s revenue comes from Google’s AdSense service, and the other half is from companies like Groupon and LivingSocial that buy ads directly from her.
4. Set up your own private deals with companies to get paid more for ads running on your site or blog
You’ll need to contact advertisers and perhaps also their media buying agencies directly. This is hard to do and time consuming. If you opt to do this, work out an annual contract deal to make it worth your time.
5. Use ad networks
Companies like BuySellAds.com and BlogAds allow self-publishers to determine what they want to charge for placing an ad on their sites. They then match sites with advertisers for a percentage of ad sales — 14 to 30 percent is typical according to The New York Times.
From our experience: Online ad rates vary widely. Some are sold based on CPM (cost per thousand impressions). B2B advertisers may pay as much as $24 or more to reach qualified business buyers. Ads to consumers cost much less. Some ads are sold for a day or a month. For example, it costs $54,000 a day for an ad on a popular blog like PerezHilton.com and $10 a month for an ad on the cartoon blog The Soxaholix. Know this too: Media buying agencies also take a commission and so do ad networks.
6. Affiliate marketing
This is where you sign up and are approved to generate leads for a company. Amazon.com and VistaPrint are probably the two best known companies offering affiliate marketing programs.
TIP: Check out the site www.Toptenreviews.com as an example of how affiliate marketing works. It looks like they are a credible review site. They’re not. They provide side-by-side comparison charts and they get paid a bounty fee through affiliate marketing deals with all the companies they “review.” It’s deceptive in our opinion but they’re a very popular site and making a lot of money doing this. People assume it’s like Consumer Reports. It’s not.
7. Set up commission deals directly with companies
Set up private deals that sell products or services you can personally recommend and get paid a commission or bounty fee for selling.
8. Set up sponsored posts (ads)
These sponsored posts click through to a page on your website where you review the product, service, company. The company pays you for these “endorsements” (ads). It’s a version of an “advertorial” in a magazine. Be careful about the brands you endorse since that will reflect on your own brand.
9. Sell something on your site
That could be merchandise, DVDs, books, eBooks, or tapes.
10. Charge for content through a subscription
If you want to do this, check out this site SubscriptionInsider. You’ll need to pay to join but content is very credible for online publishers selling content.
11. Plan, host and sell workshops or cruises
People love to get together. If your website or blog has a lot of fans, would they want to come together for some training or other type of networking event?
12. Sell consulting time via phone calls and/or Skype meetings
Many personal coaches and trainers do this. To make this efficient, you may want to add appointment scheduling software on your website or blog and set up PayPal to accept payments.
13. Become a paid speaker
This is what Seth Godin has done. It’s a long shot to take this approach.
14. Get a book publishing deal
Many publishers now look for popular bloggers and sign book deals.