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MONETIZATION BASICS

Monetization Is The Process by which You Make Money with Your Website.  Start with The Basics.

There are several monetization basics you need to be familiar with prior to attempting to make money with a website.  Just like most other things, failure awaits those who stumble blindly forward.  Start with a plan.

Monetization Basics: Have a Plan     Monetization Basics Plan

In order to effectively make money from your website or blog, you need to think about your goals and formulate a plan.  How are you going to generate income from your website?  Write down your ideas.  If you don't have any ideas yet, keep thinking about it, and keep reading.

If you have no idea where to start, think about how you would LIKE to implement a monetization plan for your website.  How would you LIKE to make money with your website?  Think about it and write down your thoughts.  Then think about why you want to monetize that way.

Doing this exercise is important.  You are going to encounter different sales pitches and opportunity presentations constantly when you start learning about doing business online.  Having a plan and keeping it in mind, even if it is just generalities at this point, will help you avoid time-wasting rabbit trails.  Time is an asset.  Keeping your plan in mind will help you avoid those rabbit trails that don't mesh well with what you are trying to do with your monetization strategy.

On the flip side, having an idea regarding your final monetization destination will help tune you in to the opportunities that you can employ effectivly with your website.

Additionally, if you have multiple monetization methods at work on your website (recommended), identify which one you want to optimize your website around.  Then pursue that option and design your website so that it is maximized.

And, above all else, remember that every monetization model is worthless without providing a real service.  Quality content provides that service (information to those looking for it).  Make sure you focus more on creating quality content than making money.  Information drives the internet, so having quality content on your website will draw traffic.  And the monetization basics and strategies can be implemented successfully whenever there is a lot of traffic coming to a website or blog.

Monetization Basics: An Intro to the Easy Methods   Monetization Basics Methods

The next step in your plan should be to plan out the methods you want to use.  Which method will be your first, and when will you implement other methods?  For the specific ways to you can monetize your website or blog, investigate the Monetization Options page.  For a more detailed discussion of the monetization categories, investigate the Monetization Types page.

Now, a few general points:

Generating ways to increase income on the internet is limited only by your creativity.  You can use any of the already-created monetization methods, or you can invent your own.  The more monetization options that your concept/niche/theme allows, the quicker you can start generating income and acheiving the goals you laid out for yourself in your Business Philosophy.

The easiest mode of money generation is usually to display ads on your website's pages.  With high traffic, people will eventually click the ads.  This generates passive income for you, so you make money as your website serves people...even while you sleep!  Do not, however, undermine your website with ads.  If you are positioning yourself as an expert of some kind, evaluate whether or not displaying ads will undermine your credibility or be a huge distraction.  If not, use them!

The more automated income generation methods you use, the more passive income you can get.  There are a lot of monetization choices available that are completely automated.  All you have to do is set them up on your website.  After setup, there is little to no maintenance required.

Another relatively easy and smart way to generate revenue is to create information products to sell on the internet.  This method is excellent because you create an information product once and then sell it an unlimited number of times.  There is only an initial investment, after which you can profit indefinitely.

Plan to incorporate both of these easy monetization methods into your monetization strategy, if possible.

Monetization Basics: Design for Monetization     Monetization Basics Design

Even if you understand monetization basics, you won't realize the full potential of our website without a design strategy to utilize what you know.  Design your website or blog to facilitate monetization. 

 

The first thing you should do when considering how to implement an effective design is this: ask yourself what action, if done by a visitor to your website, will generate income for you.  Then, design your website to encourage them to take that action.

 

If you sell a product, design the website to encourage them to visit the order page, or plaster ads for the product where they will be seen.  If you use AdSense or other contextual ads, set up the layout of your website so that people will see them.  They aren't going to click on them if they don't see them, right?!

 

Identify the specific actions people need to take.  Design your website so that it is easy for them to take that action.

Monetization Basics: Traffic Is the Holy Grail     Monetization Basics Traffic

Remember that the key to monetization is website traffic.  So, spend most of your time creating quality content, acquiring the very valuable incoming links, and indexing your website with search engines and directories.  The will get the initial traffic coming, and that will allow for monetization.

 

Since the critical aspect of any monetization strategy is Getting Website Traffic, you must get the traffic there for you to see any profit at all.  Mo matter how sophisticated and well-planned your monetization strategy is, traffic generation is more basic to your website's success.

 

More visitors to your website or blog means more of whatever it is you use to monetize: more clicks on pay-per-click ads, more consulting opportunities, more direct online sales, more commissions from affiliate programs, the ability to charge a higher fee for ad space, more donations, and more of whatever else you have incorporated into your monetization strategy.  Since traffic is more important than virtually anything else for the income-generating potential of a website, be sure to read about When Should You Monetize.

Monetization Basics: Conclusion     Monetization Basics

Remember that content leads to traffic that leads to successful monetization.  Once you understand these monetization basics, move on and learn about Monetization Types, Monetization Options, and guidance on When Should You Monetize.

 

 

Copyright © 2009-2010, Issachar Knowledge, LLC: Monetization Basics

 

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