If you have a website for your business, you may have an untapped treasure chest at your disposal. Even if you don’t make large amounts of money on your website, you can be bringing in something. This article will show you how.
Get a Website
If you don’t have a website and you think social media is enough, think again. Several businesses have had their social media pages/accounts shut down for no determinable reason. Even if your website is a one-page landing page for your business at least you have something that is yours. After reading this article, you may also decide you need a website for revenue reasons.
Making Money on Your Business Website
There are several ways to make money on your website but many of them require proof of a large, active audience. We’ll get to those in a bit. For now, let’s talk about how you can begin getting some revenue while you build your audience.
- Produce something of value that you can charge for. What’s your area of expertise? Would people pay you for it? You can create a virtual product that you sell online. Examples of this include an online course, an e-book, a worksheet or workbook, or virtual consulting or input as in the case of offering to review a submission from a client such as a resume review.
- Accept donations. If you produce good, worthwhile content that your audience loves, you can add a donation or contribution button to your website. Some businesses have done this for their furloughed employees during COVID. Asking people to support what they love is an easy sell and often results in more revenue than placing a price on something like a downloadable offer. “Pay what you think it’s worth” is also a viable option.
- Set up an E-commerce site. If you don’t have one already, consider selling things on your website. Your ability to do this will be largely based on the type of business you’re in but you can sell gift cards, consulting time/coaching classes, branded goods, products, how-to classes, etc. Some businesses will even try a new item online before they bring it into their brick-and-mortar location. Selling online can also help bring in revenue while your actual store is closed.
- Create a subscription service. Is there something you sell that you could create a subscription service with? You can use your expertise to create valuable content there’s disseminated on a regular basis or create an online community with the membership component people will pay to be a part of.
If you have a large audience and an active following, you have additional opportunities to make money on your website. You can do this through:
- paid sponsorships
- sponsored blog posts
- affiliate links
- job board postings
- selling your email list
- hosting webinars
Monetizing your website can be a strong course of action in these turbulent times. While many provinces are beginning the first stages of reopening businesses at the moment, it is possible businesses will be closed again if case numbers escalate. If that happens, having the ability to sell products or services virtually can be the difference in you having a stream of revenue or not.