It is EASY to monetize an online business!
There are many different marketing models and many different ways to earn an income. And perhaps the easiest is affiliate marketing.
Affiliate marketing is when you market a product or offer for someone else. When your marketing efforts result in a sale, you earn a commission. It’s that simple.
And the affiliate marketing model is very straightforward…
The affiliate marketing model in two simple steps:
- Build an audience—This is all about identifying your target market and generating leads. You will build an audience of subscribers and followers and build a relationship with them. The more they get to know you, the more they will trust you. And the more they trust you, the more of a chance they will buy the offers you promote.
- Monetize—Promoting the affiliate offers to the audience you’ve built is how you monetize your affiliate business. Fortunately, there are three super easy ways to do this.
Ways to Monetize
There are three simple ways to monetize your affiliate business.
Whether you have a blog, a YouTube channel, or another type of website, you can earn money through one or more of the following methods:
- Selling other people’s products (Affiliate Marketing)
- Lead generation (CPA)
- Advertising revenue (AdSense)
Let’s dive in and take a look at each of these in detail…
Other People’s Products
This has to be one of the easiest ways to earn money online. Why? Because you don’t have to create a product—it’s already done for you!
In fact, with affiliate marketing, all you need to do is find potential customers and direct them toward the offer. That’s IT! And you don’t have to deal with the backend, either. The actual sale is handled by the person or company that is selling the product. They take care of:
- Product delivery
- Customer communications and issues
- Returns (hopefully there aren’t any of these!)
That’s not to say there isn’t work involved. There is. As an affiliate, you are the middleman. You are generating traffic and driving it their way. When you can do this successfully, you reap the benefits.
Where to find affiliate offers:
There are A LOT of affiliate marketing opportunities out there. The key is knowing which ones are the best. The two top affiliate marketing platforms are:
You can also search “(Your Niche) Affiliate” on Google. This will bring up relevant offers on platforms, as well as brands that run their own affiliate programs. Many times, these self-run affiliate programs offer amazing benefits.
Of course, you have to know how to recognize a good affiliate offer when you see one. These are the keys to doing just that:
- Within Your Niche—Make sure the offer is within your niche of interest. As you build an audience, you will be targeting people in a certain niche, and the offer has to be appealing to them. Bouncing between niches generally won’t work for a single audience.
- Good Ratings/Reviews—Make sure the product or offer has good ratings and reviews. If people don’t like it, then you don’t want to sell it. Period.
- High Converting—This means the offer converts well. The sales material used by the marketer selling the product is effective. Conversion information is available on the affiliate platform. But take note that on ClickBank you want to focus on what they call Gravity. This Gravity score is an indication of conversion and it should be a high number.
And that brings us to the next way to monetize your online business…
Lead Generation (CPA)
This is not about selling a specific product or offer for a brand, but simply generating leads for them.
With the lead generation model, you will generally get paid per customer acquisition. This is known as Cost Per Acquisition (CPA) and it is a great option for influencers.
What are influencers? These are people, generally on social media, who have HUGE followings and whose followers trust them and engage with them. This model also works well for people who have a large email subscriber base.
And the final method of monetization is by using…
Once you have a website up and running, you can begin showing ads on your site. Google AdSense is the go-to for advertising.
When you sign up—for FREE—with Google AdSense, Google will automatically determine which ads are relevant, based on your niche. Those ads will be displayed on your website or webpage. Then every time someone clicks on that ad, you will earn money.
Google allows you to customize the look and feel of the ads to match your website. Ad types include:
- Rich media
You can also run ads on multiple websites with just one AdSense account. And you can run ads on RSS feeds and mobile devices.
The downside of ad revenue (yes, there is one) is that you need A LOT of traffic to make good money through ads. Plus, it can compromise your brand’s image for a couple of reasons:
- You don’t have full control over what ads are shown on your site. These might not be products you want associated with your brand.
- Once a person clicks on an ad, they leave your site. And once they are gone, they might never come back.
Overall, monetizing your website is a wise thing to do. The more money you can make from it the better. And you can combine all of these methods in any way you want with your various sites.
Just be sure to consider each one carefully and make use of the ones that best suit your brand