As a WordPress site owner, by now, you’ve probably realized that it costs you some money to operate. On top of that, you see “Internet Gurus” who keep saying how easy it is to earn money online.
While most of them are quacks hoping to earn your money, they are right in one thing – It is possible to monetize your WordPress site. However, before doing so, look over your site again and make sure it’s up to standard.
Websites that perform poorly often struggle to monetize effectively. Many factors can affect performance, such as web hosting server speed, site design, server location, and more. Before you start monetizing, try and get these up to spec.
8 Ways to Earn Money With Your WordPress Site
There are many opportunities available when it comes to earning money online. As a WordPress site owner, the content you have will be a solid basis for organic traffic – the best type to make that cash.
Be warned, though, that choosing the right avenue of monetization can be just as important as anything else. Here are some of the options you can consider:
1. Sign Up With an Advertising Platform
The easiest way of earning some money with a WordPress site is through advertising. The fastest way of getting on board with this is to sign up with an advertising platform such as the Microsoft Advertising Partner Program or Google AdSense.
Through programs like these, you simply need to add some code to your site, and they’ll match you with advertisers. The volume of visitors on your site and its content will affect the types of ads it gets.
Unfortunately, return rates for ad platforms like these are generally low. Unless you have a massive volume of web traffic, it isn’t likely you’ll earn much.
2. Sell Ads Directly
You can try to sell ads on your own if you feel confident enough to approach advertisers directly. This process works by starting discussions with companies and charging them a fee to display ads of their choice for which you need to meet specific metrics.
It’s a much longer and complex process, but the potential returns are much higher compared to working with ad platforms. Be aware, though, that this approach will not work for all websites. Ideally, you should have localized web traffic and sell to advertisers in that specific region.
3. Convert to eCommerce
If you’re running a WordPress site, chances are you’ve built your traffic stream through content. Leverage that and add an eCommerce arm to your website. The store will be where you generate revenue, while the content side will help you maintain traffic volumes.
eCommerce can be as simple or as complex as you want it to be, and there are pros and cons to each type of approach. For example:
Retail eCommerce – These types of eCommerce stores are digital counterparts of brick and mortar shops. To enter this space, you have to be prepared to manage inventory, shipping, payments, returns, and more.
Dropshipping – Compared to retail eCommerce, dropshipping only needs you to source and market products through your eCommerce site. While you do have to handle payments, ultimately, you’re simply passing orders on to the manufacturer, who will ship directly to customers.
4. Become an Affiliate Marketer
One of the most lucrative ways of earning cash from your WordPress site is to become an affiliate marketer. This system works by recommending products to your site visitors. Each time they purchase a product through your affiliate link, you’ll earn a commission.
It’s important to note that there are two distinct ways this can happen. The first is by joining an affiliate program, such as CJ Affiliate or Amazon Associates. They allow you to link to any of their listed products, and each time one is sold, you’ll get a small commission.
Affiliate programs are very versatile, but the amount you’ll earn per product is generally meager. Unless you’re able to shift multiple bit-ticket products, you won’t make much. It would be wiser to look for brands that offer affiliate commissions directly.
Brands that do so are usually willing to offer large commissions for each sale. For example, those selling Virtual Private Network (VPN) services can generally expect over 40% per sale in commission.
5. Start a Membership Subscription Program
If you have lots of unique content that offers substantial value, consider going into business independently. Instead of relying on advertising or such, introduce a subscription program for your readers.
You can set fixed monthly or annual fees and offer subscribers access to value-added materials or other things that non-members won’t get. There will be many WordPress plugins that can help you manage membership programs on your site.
Some membership plugins you can consider:
6. Sell Sponsored Content
If advertising isn’t something you’re interested in, you can also sell sponsored content or advertorials. To do this, you’ll need to either work with marketing companies or directly with some brands.
Ads are generally fixed content you have no control over. For sponsored content, you will at least have some level of control over what’s published on your site – but you’ll need to create that content and get it approved.
The challenge with selling branded content like this is balancing between the sponsor’s needs and being honest with your readers. Ideally, work with brands or products that you love and personally use.
7. Ask for Donations
If you have lots of great content that helps many people, why not ask readers to contribute what they can? This way, you may get some funds while not depriving those who can’t afford to pay for membership fees.
There are several ways you can manage this. The easiest way is by adding a donation plugin that allows readers to transfer money directly to your PayPal account. Alternatively, for a more comprehensive system, work with a platform like Patreon.
8. Sell Your Knowledge
Remember the “Internet Gurus” mentioned at the beginning of this article? You can become one as well. Use your successful WordPress site as leverage and show the world how it can be done in a neatly compiled spiel.
Create templates, spreadsheets, presentations and package them all together, guaranteeing buyers success that’s well worth their dollars and cents. Of course, if you can’t walk the talk, you just might fall flat.
There are many avenues to riches on the Internet, but none are a shortcut to success. Ignore the overnight boom and easy life guarantees – these don’t exist. However, if you’re determined enough, make it a learning process, and eventually, you just may find yourself earning a stable income through your WordPress site.