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Exploring Website Revenue Streams and Available Monetization Alternatives...


The Essential Options in Monetization.


Your internet business's monetization strategy defines how you choose to sell. It's important not to look at it as purely commercial, but as a driver of value as well.

It'll be effective only as long as it supports the value strategy...

You'll never make a sale until customers have perceived value from your offers, overcome their trust issues, and their intentions of use are satisfied.

They're the essential qualifiers to build sales and website revenue streams.

 

 


Consider Monetization Options First...


You can monetize your websites in different ways. It's just a matter of looking at what suits your capabilities most effectively...

How do YOU want to monetize your internet business, and with what type of website revenue streams?

These five core options will give you special opportunities in creating value...

 

Develop Your Own Products for Maximum Profits.

Developing your own products and selling them through your internet business is a great way to generate revenue and keep most of the profits.

Selling hard goods, or "e-products" which can be delivered automatically via e-mail or through an immediate download, are perhaps the best options.

You might have to give some of the profits up in commissions if you've recruited affiliates, but most are yours to keep.

You'll obviously have to take the time to not only develop your products, but also create the processes to deliver them... invoicing, shipping, customers service, enabling a shopping cart, etc.

 

Build Value as an Affiliate Marketer.

Referring products as an affiliate is big business...

It provides opportunities to create value beyond the merchant's offer by providing personal insight, opinion, and outlook.

Commissions are often quite large... 50% of total revenue isn't uncommon.

So it can be very lucrative...

And it being so without the customer service, delivery, and so on, makes it that much better.

But the real advantage in affiliate marketing is the potential to enhance a merchant's offer by "packaging" it to YOUR customers in particular.

It isn't about inserting affiliate links just anywhere on your webpages...

If you know your customers... what their problems are, what they're looking for, and what they're hoping to gain, you can present a merchant's offer "packaged" specifically for those customers you know so intimately.

You'll be surprised to see the great results you'll get with a little creativity and affiliate promotions.

 

Source Complementary Products for Resale.

Sourcing products for resale is also a great option.

Complement your existing offer with products not only relevant to your customers' needs, but also logical additions to your current product line.

This is a great option if you're not keen on developing your own products...

But when you source products that aren't your own, you'll either have to pay for the right to resell or a supplier's wholesale price... and you'll have to deal with the invoicing, customer service, delivery, etc.

So if that's the focus of your internet business, consider sourcing your products from wholesalers or other such suppliers...

Look into dropshipping to avoid the costs of stocking and inventory!

 

Place Contextual Ads for Additional Revenue.

Contextual ads like Google's Adsense ads or Yahoo's Sponsored Search ads are options that many entrepreneurs use in monetizing. And, although experts disagree as far as their true profitability, they do provide relevant alternatives that customers might welcome.

Disagreement on the actual benefits of contextual ads originates from this point of view...

Some believe that the actual revenue from clicks on these ads is small and not worth the distraction for visitors who could alternatively click on more profitable affiliate links or links to your own products...

On the other hand, others think that since all revenue will be generated by outgoing traffic... why not make that outgoing click worth something.

Both views have points in favor, and the truth is that many internet entrepreneurs have done quite well with this option...

In the end it's up to you to become familiar with monetizing with contextual ads, weigh the pros and cons, and then decide if it makes sense to you and the experience of value you want to deliver.

 

Sell Ad Space if it Makes Good Business Sense.

Selling ad space or "screen real estate" is an option that you should be careful with...

Before an advertiser is willing to buy ad space, he'll require a traffic minimum. So there's that initial requirement you'll need to satisfy.

There's also the issue of ad relevancy...

Advertisers want their ads to be viewed by people who have a direct interest in what he's selling, so he's just not going to put them up anywhere. And they'll try to gage your website as far as quality and value...

Only if he likes what he sees will he lease the space on your website.

Return to "Development" from "Designing Website Revenue Streams and Your Monetization Strategy"

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