Website Monetization as a Formula for Success

Companies / Internet Sep 08, 2018 - 03:44 PM GMT

Do you believe that website monetization works? Many people are skeptical about the concept as they believe that you can find any premium content on Google if you look hard enough. The truth is that the internet is cluttered with content and to discover a valuable piece you have to dig very deep, and this will take a huge amount of your time. Monetization will work only if you know how to set up a business model right. Unfortunately, most of us don’t know how to do this. But there are a few online tools that can help.

Online website builders that provide the full web development and web design experience offer monetization functionalities as well. You can now make money from your premium content with just one click of a button. Technology advancements made it easy for us all to design and apply certain functionalities online. However, as we mentioned before, we now struggle with the concept of monetization. What type of content should we consider premium? How can we attract visitors and buyers? The questions are not simple, but we will offer answers anyway.

There is no unified formula for a successful monetization, but here are some tips that will help you along the way.

1. Sell only high-quality content

If you already have a blog and you offer online content to your visitors on a daily basis, then the premium content should be something that stands out from the standard one. You can only earn money from content that is high quality, offers incremental value and can solve someone’s problem immediately. For instance, websites like Financial Times monetize on a content that is written by experts in the field whose advice can effectively solve someone’s problem in the industry.

In order to retain customers, make sure that premium users are treated really well and are getting the value for their money. If you are a photographer and offer images, your premium features can be the possibility to download some of the photos or access behind-the-scenes material.

2. Promote yourself on social media

It seems that everyone is chasing for the short-term tangible results. Social media may not provide immediate results but the constant investment will give you high ROI in the long run. Paid advertising on social media network that is used by your target audience is the best way to promote your premium features. However, don’t exclude organic share. Sometimes, organic updates, good hash tag strategy will help you make money using social media.

3. Engage in affiliate marketing

Arrange sponsorship and affiliate marketing with influencers in the industry. This part might be a bit tough if you are a beginner, but if you try hard enough, you will get results for sure. Paid sponsorship, influencer marketing, and affiliate marketing are the best things you can do for the promotion of your premium content. If you want people to start buying, you need to start investing in high-profile people and websites. People listen and follow advice from social media influencers and quality portals almost blindly. There is no better marketing than the word of mouth marketing.

Monetization as a concept is effective only if you prepare a quality strategy and plan. You need to have an enterprising mentality and be prepared to invest value so that you can get something in return. Make money using social media, contact influencers and make sure that the product you are offering is one of a kind and gives value to your target audience. People tend to buy things that offer value and help them become better at what they do. Keep this concept in mind before you decide to add any premium features as a part of your monetization strategy.

By Sumeet Manhas

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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