Most webmasters would kill for traffic. If only they could figure out how to get more eyeballs on their offers, all their dreams would come true…
But every once in a while, the opposite problem occurs. A technophobe that started a website about their passion enjoys a steady stream of traffic but isn’t quite sure how to monetize. Maybe they’ve even tried Adsense, Clickbank, and other affiliate programs, but the money is insubstantial or inconsistent and they get tired of trying to figure out what they’re doing wrong.
Does that sound like you? Today I want to introduce a simple solution for your problem and the quickest way to make it happen.
1 Renting Out Advertising Space
There’s no reason to make things complicated when you can make a consistent income on your website by selling space for banner ads at a fair monthly rate. Companies or webmasters interested in reaching your market send you the code for their banner, and you just add it to the sidebar, below the header, or wherever.
Best of all, you don’t have to spend time tweaking your advertising, trying out new products, keeping up on your affiliate programs, or scratching your head at sales fluctuations. Nope – your job is easy. You just keep on adding that content, communicating with your audience, and collecting those checks every month.
2 How to Find Advertisers
Since we’re talking about quick and easy today, I’m going to stick with that theme. Put up multiple banners on your website that say, “This Space is for Rent,” “Put Your Ad Here,” or something similar. The banners can invite advertisers to contact you or lead to a page on your site that goes into detail about your audience and your stats – if you’re not keeping track of your stats already, by the way, now is the time to start because they make all the difference in attracting the best ad clients.
Now, to be clear, just putting up your banner isn’t going to work if you don’t have many readers – this is only a quick and easy method of making money if you’ve got a high-traffic site. If you do have an audience, though, it shouldn’t take long for other entrepreneurs in your niche to take notice.
If you don’t know how to make banners, just go to fiverr.com and hire a banner designer to make one for you. Once again, simple.
To build goodwill with advertisers, consider offering banner creation when needed (also by hiring at fiverr), and give them the option to switch the ad out a couple times a month or whenever they want if it’s going to sweeten the deal.
Different ads will perform differently on different sites, and any marketer with some business chops will want to test offers.
3 Understand the Downside
Just to be clear, this type of monetization strategy is not without its downsides. Of course not.
It does take a bit of back and forth with advertising prospects, and there may some turnover if your customers are amateurs or just aren’t seeing results with your traffic. Sometimes, frustrated advertisers may accuse you of exaggerating your numbers when their ad doesn’t pay off – if possible, make stats available.
It can take a few go-rounds before you have a good group of advertisers. Usually it’s the higher-paying companies who stay with you, but to land these fish, you’d better have enough of the right kind of traffic.
Offer different pricing structures for the different ad spaces on your site, as some areas are more lucrative than others. For instance, the space just below the header gets the most clicks, and after that the top right sidebar gets the second highest number of clicks. Anything below the fold, on the other hand, sees less action unless there’s a unique reason people focus on that section of your site.
Avoid locking yourself into long agreements until you’ve had a chance to test out prices and find the sweet spot. You might also want to forsake long contracts if you have a reason to think you can increase traffic later on. Of course, any good offer should be considered…
5 Accepting Payments
In the honor of doing things the easy way, stick with PayPal. You can just ask the advertiser to send over payment to your email address, but it’s best to get them on a recurring payment plan that keeps billing every month (or whichever period you choose) until they cancel. Even personal accounts offer the option to create these subscriptions.
The subscription makes it all hands-off so you don’t have to remember to bill them – the money just keeps rolling in on autopilot unless the advertiser isn’t happy with results. The art of the monthly subscription is a reliable marketing tactic used by many successful companies to build consistent income streams.
And that’s it – you’re making money.
If you’ve got a website sitting there getting traffic but not bringing in cash, it’s time to do something about it. With this simple plan in action, you could be making a steady income by next week, or even sooner if you’ve got a particularly attractive property on your hands. Give it a shot!