Yes, it is possible to monetize a free website as there are a wide variety of ways to monetize a website. So if you are wondering how much it costs to monetize a website, remember that it can be free or cost less than $100.
In most cases, you only need 2 or 3 methods. However, in some cases, you can make enough from one approach. Here are the best ways to monetize your website.
1. Google AdSense
You can generate income by allowing Google to place ads on your website. Then, you get paid when someone clicks on those ads. It would help to learn a little more about Google Adsense and how it works to see why this method works for many websites.
Google helps searchers find information on websites, the platform also helps businesses reach customers. As a website owner who provides information on a website, you can earn by having a site that draws a certain level of engaged users.
Individuals and businesses use Pay Per Click (PPC) advertising to reach their audience. When someone from your audience interacts with the ads, you earn. Although Google Adsense is not the only game in town concerning advertising placement, it is the most popular and straightforward.
All you need to do is apply to be an AdSense partner. Google will review your application, and if you get the approval, you can start showing ads on your website almost immediately. The best part is that you can use the same Google Adsense on multiple websites.
Advertisers pay Google each time someone clicks on their ads. In return, Google pays you a share of what the advertisers paid. You get paid between the 21st and the 26th of the month.
If you are wondering how many views you need to have on your website to earn, the number will vary. Still, it is a good idea to have at least 50 views per day. This shows that you are on the right track and can help you to have more who are interested in clicking on a few ads and going to the advertisers’ landing page.
You might also wonder how much Google Adsense will pay you per 1000 views. The answer is that it will vary depending on how many people click through the ads and visit the advertiser. The more interested people that click on the ads, the higher the earnings.
2. Direct advertising
Google Adsense works as a middleman between you and advertisers. You can choose to work directly with advertisers. This route will require a little more effort, but you can keep all the earnings for yourself.
The best part is that you get to negotiate the price. If you have quite a bit of web traffic, it gives you immense negotiating power. Conversely, you might not earn much from this method at the beginning stages if you have very little traffic.
Another significant aspect is that you can choose where and how the ads appear on your website. You can show the ads at the bottom of the page as side banners or pop-ups. You can also vary the pricing for each location.
You have to choose between the pay-per-click or pay-per-visitor model. The former only pays when someone clicks on the ad link, while the latter pays based on the number of page visits.
The best option depends on your website traffic and how often you expect visitors to click on the link. In general, pay-per-click pays more.
Building relationships with advertisers can be challenging at first. But a good strategy can help you get it done. You need a media kit that shows your website statistics and pricing and relevant visibility on online platforms like LinkedIn and SellerCrowd to help you get advertisers. If you object to specific ads, ensure your media kit contains such information.
You can also let your readers know you are willing to put up your ads on your website to get the word out.
3. Affiliate marketing
Affiliate marketing has been present for quite a while. Still, it is making headlines due to its substantial earning potential. Here is how it works. First, you promote a product or service on your website and encourage your readers to purchase them using your unique link. When they make a purchase, the company that owns the product or service offers you a share of the selling price.
Affiliate marketing is great if you promote or review products on your blog. It also works if you make how-to guides or share your thoughts on different areas of life. You put in a good word for the product and insert your link.
There are two ways to make affiliate marketing: direct and indirect.
You get your affiliate link directly from the company with the direct approach. Say you are an affiliate for a toothbrush company. You go to the company website or email their team for an affiliate link. Then, you get a commission each time someone buys a toothbrush using your link.
The indirect approach is to join an affiliate network, such as CJ Affiliate, ClickBank, and ShareASale. You can also affiliate with big e-commerce brands like Amazon.
Both approaches have pros and cons, so you should make your choice based on what works for you.
4. Charge for your content
Suppose you have many dedicated readers, and the idea of putting ads on your website doesn't sit well with you. In that case, you can ask your readers to pay for your content. These can be a one-time fee or recurring fee.
This approach typically works well for niche blogs and websites. This may alienate some readers, but website owners minimize this by having a mixture of free and paid content.
Depending on how you structure the site and create content, it could help you develop a firmly knitted community. This method works well if you are an authority or inside source in your chosen niche.
Many website builders allow you to set up paywalls for your content. Using a WordPress site, you can set up the paywall by implementing a member site plugin such as WP-members and simple membership.
You can also choose to set up different membership tiers.
You can significantly earn with this approach if you have people interested in paying for your content.
5. Request donations
If you have many dedicated readers and putting your content behind a paywall doesn't sit well with you, you can politely ask your readers for donations.
This approach can be the least profitable as not everyone would donate. Moreover, even those who want to donate might not know how much to contribute.
Setting up donation channels on your website is easy. You can add donation buttons linked to your website on Stripe and PayPal. If your website or blog accepts crypto donations, you can ask your readers to donate crypto assets by listing your respective cryptocurrency addresses.
Make sure you politely and consistently promote your readers to make donations. It would help if you made the donation process as easy as possible.