MONETIZATION AND PRODUCT DEVELOPMENT
The money part!
I know that you have been waiting for it... Most of you are all about making money online but if you haven't done everything that we covered in previous stages, IT'S USELESS. Traffic and value always comes first. No one is going to pay you dollars if you don't have any value to offer. So we highly suggest you to focus on traffic and providing value upfront. When you will have enough value that you provide on your platform and other media, you can start thinking about monetization and product development.
That's called online business the ALPHA way!
So how can we make money online?
How can we monetize our traffic and audience that we accumulated by working hard and marketing?
There are some ways to do that. In fact, there are DOZENS of ways to do that but we will cover the most effective ones. I'm pretty sure that you have heard about any of these: affiliate marketing, info product development, physical products, services, consulting, advertising on website, monetizing youtube videos and so on.
Let's start with affiliate marketing because it's the easiest and probably most effective way to make money online when you're just starting out. You don't have to have a product or service yourself. You can find millions of affiliate programs online and sign up to promote someone else's product. To understand affiliate marketing as promoter, you have to look at it as recommendation service. You are recommending product or service that you know would be interesting and valuable for your audience. If they click the link and order, you get a commision. It's best to promote products that you have personally used and benefited from. That way you're building long term trust by helping others.
Info products are one of the best ways to make money online too. There are so much information out there on the internet. Sometimes it's very hard to find something that you can really benefit from. Most of the people are drowning in information these days. That's why info products are necessary. They help people to get structured and most important information in one place. If it's step by step, they can start implementing that instantly. E-books, courses, raports, audio programs, video series and etc. It all falls into the category of information products. You have to have expertise and knowledge in something to create one, so this one is not for newbies.
Our most useful articles about info products:
Next way is to sell physical products. You can do it on other e-commerce platforms like amazon, ebay and aliexpress, or you can sell it directly on your website. You can sell anything that your audience would be interested in and could benefit from. Keep in mind that you have to think about order fulfillment - customer support, shipping and other required procedures.
Our most useful articles about physical products:
Online services is another way to monetize your traffic. If you have some skills and can do something useful for your visitors, you can offer your services on your website. But keep in mind that you're trading your time. And that's not the most efficient way to make money online.
Our most useful articles about online services:
Online consulting is very similar with services but instead of skills you're offering knowledge and expertise. This way of monetizing your fanbase goes the best with personal branding sites. But you have to build up your name to to be an authority in your field. And that requires years of experience, knowledge and networking. Definitely not the best way for newbies.
Placing ads on your website can make you some money but unless you have tons of constant traffic, you should make it a priority. You can offer advertising for people on your website or you can simply use Google Adsense and monetize your website that way.
Our most useful articles about selling advertising:
Video monetization is another great asset for your online business. If you have a Youtube channel, you can monetize your videos. You won't make a lot but that could be your additional income that you don't have to worry about at all.
Lots of new information, huh?
I hope you won't drown in it and keep up with us because we don't stop and keep on going. We are done with online business monetization and product develpment and now let's move further to online business optimization!