7 Ways to Make Money from Your Website

7 Ways to Make Money from Your Website | Part 6 of 7

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Hi everyone!

These days, because of the pandemic, more and more people are creating websites, and making money from them.

I can understand. And I fully empathise. I have gone through what you are going through. I went through the Dot Com Bubble Burst, and the Asian Financial Crisis.

After those two painful lessons, I made the decision to use my digital marketing skills and create online businesses to generate income.

In past videos, we have covered the topic about Creating a Website and Promoting it. Now, it is time to make money.

Today, I will discuss with you 7 Ways to Make Money from Your Website

Business 101 series

This is the 6th post of the Business 101 series. I created this series to help you learn how to start and grow and online business. As you can see, there will be more posts as listed below:

  1. 10 Steps to Start an Online Business
  2. 6 Steps to Choose a Profitable Niche
  3. 3 Steps to Help You Create a Brand for Your Business
  4. 7 Steps to Create A Website for Your Business
  5. 8 Ways to Promote Your Website
  6. 7 Ways to Make Money From Your Website – this article
  7. Winning the Micro Moments That Matter

Would you like to learn how to start and grow an affiliate marketing business? Join my I Love Passive Income community for more tips and useful business information. Simply fill in the details below, and you will receive an email with instructions on how to join this invaluable community.

Watch Video: 7 Ways to Make Money from Your Website

If you prefer to watch a video about this topic, you can watch it below. Please remember to subscribe to the channel as well as like the video, too!

Or if you prefer to Read, continue from here.

What Are the Ways to Make Money from Your Website?

Basically, you can sell your own products or other people’s products.

Sell your own products

  • Manufacture
  • Private label

There are those of you who have ideas for creating your unique products.

In this case, you would be looking to manufacture your own products, and sell them via your website. Then there are those who would like to create products similar to other products.

You intend to create a similar product, and slap on your own brand and label on it. This is called private label.

1. How to Make Money from Creating and Selling Your Own Unique Products?

Ecommerce is big and getting bigger.

Despite a challenging year for retail in 2020, we estimate that worldwide retail ecommerce sales posted a 27.6% growth rate for the year, with sales reaching well over $4 trillion.

– eMarketer

And the same eMarketer report says – “Worldwide ecommerce will approach $5 trillion this year.”

You can tap on that phenomenally huge market by building your own online store and sell your unique products. That is, a product that is your unique idea, and new to the market.

Setting up an online store is not as easy as it seems. And certainly not as simple as many online so-called gurus purport it to be. It takes a lot of hard work, time and effort.

I should know. This was one of the first ways I thought of to make money online.

You can either hire an ecommerce development team to create your ecommerce store. Or you can sign up with Shopify and use the tools and features there to create it. Then there is the matter of finding the right product, and partner to manufacture it for you.

You need to put in a lot of hard work, time and effort in this endeavour is. Especially in finding a good product.

A quality product. And one that sells well.

This requires a lot of research and testing time.

If you are manufacturing your own unique product, you will need to create a prototype. Then test the market to see if people like it and will buy it.

After that, you need to find a good and reliable manufacturer who will create your product with high quality and consistency. Then there is the logistics to store it, ship it, and fulfil sales orders.

And let us not forget the hard work, time and effort needed to create brand awareness.

You will be new to the market. And people need to be familiar with your brand. They need time to get to know your brand, test it, and eventually trust it.

This requires extensive marketing efforts. Not only to build your brand. Also, after brand awareness, you need to grow your brand and capture the market.

2. How to Make Money from Creating and Selling Your Own Unique Digital Products?

What is a Digital Product?

Digital products are those that are in a digital format.

They do not have a physical form. But they can be converted to a physical form. For example, a printable design can be printed into a physical sticker.

There are all kinds of digital products you can create. For example, an app, online courses, eBook, plugins, video, graphic, design, art, checklists, printables, etc.

And you can earn a very good income if you are able to create something that is in demand. After you have created your digital product, you can sell it on your website, and make money.

There are also online marketplaces that can help you sell your digital products, too. For example, you can offer your eBook on Amazon, your hand-crafted goods on Etsy, etc.

I know this blog post is about making money from your website. The idea of selling your products also on online marketplaces is this can create awareness of your product and your brand.

You can draw customers to your online store and get them to purchase more products from there in the future.

3. How to Make Money from Creating and Selling Your Private Label Products?

What is a Private Label Product?

A Private Label product is when you sell a product that is already being manufactured by a third-party manufacturer.

You can make some modifications to the product, and then simply add your brand and logo on it. And it becomes your private label product.

Some retailers choose this model because it reduces research and testing time. Plus, they would find a product that is already selling well.

Then copy it. Make some modifications. And add their brand and logo on it to become their product.

For example, a water bottle that is being manufactured by a 3rd party company. You can get that company to create the same bottle.

Maybe modify it a little, for example with different colours. Then simply add your brand to it. And it becomes your private label product that you can sell on your website.

I have tried this before, and I have found it to be a lot of hard work, time and effort to produce such a product is almost the same as creating a unique product. You may just not need to create a prototype or test the market since it is a product already selling well.

The downside of this is brand parity. Because your product is similar to the other products.

And there may be many other businesses also creating similar private label products, consumers will see no difference between products. And will choose the cheapest option.

This will make it more difficult to build your brand. And brand loyalty.

4. How to Make Money from Affiliate Marketing?

I have tried many other ways to make money online. And this is my favourite.

I really like affiliate marketing because I found this to be the best way that is closest to creating passive income.

What is Affiliate Marketing?

To me, affiliate marketing is one of the best ways to create passive income.

Affiliate marketing is when you become an affiliate for a brand, and you promote their product or service. The company gives you a unique affiliate link that you can use on your website.

You can write an article about the product or service, and add the affiliate link within the content. When a visitor to your website reads the content, clicks on the affiliate link, and buys the product, you earn a commission.

For example, when you are an affiliate for a health product. You write a blog post about that health product. People visit your post, and click on the link.

They buy the product. You earn a commission.

This is nothing new really. In the physical world, salespeople go around promoting a product, and when they get a sale, they too earn a commission.

With affiliate marketing, it is all done online.

Of course, there are correct steps to do affiliate marketing the right way. As I mentioned in previous blog posts, you need to learn how to do it right.

So, education is important.

Equally important, is to get help and support. Especially from experienced entrepreneurs.

You can get all that from my Free Private Facebook Group. Send your details using the form below now.

Continuing about affiliate marketing, there are many benefits.

  • You do not need to find manufacturers. Or risk dealing with risky ones.
  • You do not need to spend time or money to research, create and purchase products.
  • You do not need to stock or manage any inventory.
  • You do not need to fulfil orders.
  • And here is the best part – you do not need to manage or handle any customers.

It is all done by the company you are affiliated to.

5. How to Make Money from Buying Wholesale and Selling Other People’s Products?

I used to own an online store selling incense. Thing is – I don’t manufacture incense. So, what did I do?

I scoured the Internet to look for a wholesaler of incenses. And I found one.

I made a good deal with the wholesaler. Then purchased incenses in large quantities, at wholesale prices. And sold it at a physical store as well as online.

It is quite lucrative. Especially if you are one of the few retailers doing this in your area.

But when more competition comes in, it can be quite tough. Also, this way will require that you have enough budget to buy the products up front. Then get sales and revenue over months ahead.

If you are unable to sell all the products you bought, you will end up with losses. If this is how you would like to make money from your website, then you need to find the wholesaler for your niche first.

Ask for samples to test the quality of the products. Test if your market likes the products.

Then try to get the best deal from your wholesaler. That is, a better discounted rate, when possible. And the lowest quantity to start with. Then buy the products.

Find a place to store the products. Promote the products on your website (and physical store if you have). Get sales and revenue.

But like I said, this can take time. So, you need to have the budget and funds to tie you over for at least a year.

6. How to Make Money from Drop Shipping?

Drop shipping was another one of my attempts at ecommerce.

When I first learned about it, I found out that it could save some costs, hard work, time and effort. That is, as compared to manufacturing your own unique products and private label.

But there are still some disadvantages, and I will share with you after I explain what is drop shipping.

What is Drop Shipping?

You can sell products from a supplier and need not buy in large bulk like wholesale. You do not even need to keep a single stock item at all.

With drop shipping, you find products you would like to sell at your online store. Promote your online store.

When a visitor arrives, and orders an item, you confirm the sale. And get paid.

Then you buy the item from the supplier at a lower price. And get the supplier to ship to the customer also.

The difference between the sale price and cost price of the item will be your profit.

As mentioned above, there are some advantages to doing drop shipping. They are:

  • You do not need to manufacture / produce the products
  • You do not need to stock inventory
  • You can sell a wide variety of products
  • You do not need to handle or manage shipping
  • Your fulfilment cost will be lower

And also mentioned, there are disadvantages:

  • You need to find good products with good quality
  • You need to find good and reliable suppliers
  • You need to constantly monitor stock availability with each supplier
  • You need to constantly update the website, especially when a product is hot and can get out of stock quickly
  • You need to find low shipping costs
  • You need to build brand equity
  • You need to spend more on advertising and promotions
  • Your profits are relatively lower
  • There is poorer quality control

Having said all that, I have done drop shipping, and would consider doing it again. I just find that at this point of time, it is better to build brand equity.

In the meantime, I prefer affiliate marketing.

This is because I am teaching most of the time. And with affiliate marketing, I just create content, leave it on my website, and promote it. Many times, I get sales when I am teaching or even when I am sleeping.

7. How to Make Money from Online Advertisements?

Another way to make money from your website is to offer space on your website for advertisements. You can do this directly with advertisers, or you can join an ad network.

When you do it direct with advertisers, you will need to put in some time and effort. You have to search for suitable advertisers who will be keen to place ads on your website.

You can then charge them money for the ads to be placed.

An alternative is to join an ad network like Google Adsense, Media.net, Kontera, Infolinks, etc

How this works is you join the ad network. Each network will have their criteria to qualify.

After you are approved, you get a code to add to your website. You are then known as the publisher.

This code will create banners on your website, at locations specified by you. These ads will come from the ad network. Any revenue earned from this advertising is shared between the ad network and you.

For example, some ad networks pay for impressions. This means you get paid when visitors see the ads.

Some ad networks pay only when visitors click on the ads. And some require visitors to ultimately purchase the advertised product in order for you to earn a commission.

It is best to get more traffic on your website before you consider this option. This is because most ad networks have this as a major requirement.

So, this means, you need to create more and better-quality content, and drive more traffic to your website first.

Would you like to learn how to start and grow an affiliate marketing business? Join my I Love Passive Income community for more tips and useful business information. Simply fill in the details below, and you will receive an email with instructions on how to join this invaluable community.

7 Ways to Make Money from Your Website

Timotheus Final Word

So, there you have it.

The 7 Ways to Make Money from Your Website:

#1 – Make Money from Creating and Selling Your Own Unique Products

#2 – Make Money from Creating and Selling Your Own Unique Digital Products

#3 – Make Money from Creating and Selling Your Private Label Products

#4 – Make Money from Affiliate Marketing – my personal favourite!

#5 – Make Money from Buying Wholesale and Sell Other People’s Products

#6 – Make Money from Drop Shipping

#7 – Make Money from Online Advertisements

Did this video help you and gave you some ideas? Or which ones are you already doing, and how is it going?

Do let me know in the comments below.

Again, this blog post is about making money from your website. Of course, if we are talking about making money online, there are plenty more ways to do it.

I will be doing more blog posts about that. So, make sure you join my community to get updates whenever I publish new blog posts.

I look forward to your great heath, wealth and success!

Your Online Business Coach

Would you like to learn how to start and grow an affiliate marketing business? Join my I Love Passive Income community for more tips and useful business information. Simply fill in the details below, and you will receive an email with instructions on how to join this invaluable community.

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