Monetarization Mix
Objective:
- Learn the best way to monetarize your online business
In this lesson, we are going to discuss different monetarization methods that you can apply for your
business.
There are quite a number of ways to monetarize from your website. However, not every one of them will
be applicable to your business. You need to rinse and see which ones are best for your own business.
1) Your own products
You can create your own products or have an inventory of retail products that you buy wholesale.
Infoproducts are an excellent choice for online businesses, but anything that can be shipped is a possibility
for selling online.
Your products can be physical product or intangible products.
Using the example of a golf niche, physical product can be a golf club, golf ball, and all other golf
accessories. Intangible products can be an ecourse teaching golfers different tactics in playing
golf. They may even be instructional tutorials that teach people how to play golf. Intangible may
come in different forms, e.g. ebook, software or video.
2) Affiliate Marketing
You can promote and sell other people's products and receive an affiliate commission on them.
There are numerous affiliate banks that allow you to pick offers relevant to your content and to market them on
your site by publishing a small link or code snippet within your HTML pages.
It's easy to promote affiliate products these days. Sign up with Clickbank for a free account. There you will find tons of product related
to various different niches. There were more than 30 golf products.
3) Ebay Marketing/ Drop-shipping
Another great way to monetarize your traffic is by using eBay. You can auction your products there and earn
money. That's the easiest way, and that's where I got started.
If you don't have your own products, you can research and find what's selling via dropping companies. World Wide
Brands is only of them. I used WWB in the past and they are the cream of the crop in the industry. You might
want to check them out if your niche involves a lot of hard-goods.
---Sidenote---
I have negotiated with the seller at WorldWideBrands that you
can get a $20 from this link, only if you are interested in using drop-shipping for your business. When people talk about
eBay, they only thought eBay as only a flee market online. In fact, if you use eBay right, you can
attract tons of buyers to your website without paying the huge auction fees. However, since today we are
talking about monetarization mix, we will stay at there.
If you are already using auction sites to generate business, you may want to check out this free publication. This contains some good useful material to make your auction
a business, instead of being only an auctioners.
---Sidenote---
4) Pay per leads
Pay per leads are hot since 2009. Some marketers claim they earn 100K PER DAY just by offering leads to those
"CPA network" companies.
This is a big topic. I suggest you to check this out.
5) Sell advertising space
Advertisers are interested in online personalities relevant to their demographic niches and who will promote
their products. Offering some advertising space in exchange for money is one way to profit from the connections
that you have generated as a focused audience for their ads.
This is a great strategy to monetarize your traffic. Almost every webmaster is aware of Google Adsense.
People come to your site and click on the ads and you will get paid of certain amount according to what the
advertisers pay to Google. I personally don't like this method of monetarization, as it's rather passive and
slow in the process. However, I know many people who have earned big dollars by just doing Google
Adsense.
Some other famous companies who sell ads space are: adbrite and textads.com.
6) Offline leads
You can sell leads to offline agency. One of the most apparent one is selling leads to real estate
agents. For many old brick and motar business have not fully ultilized this model of generating leads for
this business. In fact, there is a lot of opportunities in this regards.
There are a few tried and true ways to profit online. All you need to figure out is how to get your
contacts to enter a sales funnel that gives you multiple opportunities to profit from their connection with you.
First, let's go over the traditional ways to make money online.
7) Recruiting Others into Referral
Programs
Multi-tiered referral programs offer some great ways to make money on recruiting and downline income. If you
recruit a real moneymaker, you can end up with a commission on his/her sales too, depending on how the program is
run.
Let's move ahead to next lesson
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