You’ve built a beautiful WordPress website. You’ve created a blog, updated your social media, and you’re ready to start generating income from your site. But how? There are so many different ways of monetizing your WordPress site.
Without a doubt, WordPress is one of the most popular CMS with millions of users and thousands of plugins that allow for a variety of monetization strategies. This article will take a look at some strategies you can implement using your existing WordPress site to monetize it and make a decent passive income.
There are many ways to make money blogging, but there is no one-size-fits-all approach. What works for one blogger may not work for the next. In the end, you have to find a niche that allows you to live your life while growing your blog into a thriving business.
As per stats, 70% of businesses are actively investing in content marketing. And one of the primary reasons is because good content can fuel their marketing.
Again, you can’t be a jack of all trades and write about everything under the sun.
You have to position yourself as an expert in a specific domain. For instance, you can write about email marketing and disseminate email marketing tips and position yourself as an email marketing expert.
If you have in-depth knowledge of a niche, you can set up a WordPress website and start blogging right away.
There are a number of ways to make money through this venture, including:
As per the Editorial Freelance Association, here’s the breakdown of income you can generate in different niches:
Integrate inbound marketing and SEO to drive traffic to your site and increase conversions. You won’t even need a lot of traffic to start generating income with freelance writing, as businesses care only about the quality of content.
An excellent way of monetizing your WordPress website is by creating an eBay-styled auction service.
In an auction-style listing on eBay, vendors name a starting price, followed by buyers bidding against each other.
Here’s how it works:
You can either sell your products or sell others’ products on your website to people worldwide.
You can also hire a WordPress expert to do the task for you if you find it too complex yourself. You can get the developer to create stunning, professional-looking eBay-style live auctions and sophisticated real-time bidding pages as well.
There is a rising demand for educational content across the globe. In one survey, 58% of participants said that they had used digital video to learn new skills.
eLearning video content has always had a positive impact on learning in learners of all ages. As per a study, 91% of educational institutions said that video boost student satisfaction.
So, it’s the right time to turn your passion for teaching or your expertise in any subject into an online video course.
You can create educational video courses and sell them on your website. Choose from a variety of course lengths, ranging from a single session to a series of hours covering a complete subject.
Make sure to take assistance from WordPress tools, such as the Video Lessons Manager Plugin, to import Vimeo and Wistia videos directly into your site and manage your video courses from your dashboard.
Reseller web hosting business model lets users buy your web hosting services as a reseller, then resell it as a service to others who want to host their websites. It is a lucrative business that can be used as a startup business for expanding your business to the web hosting niche market.
You invest less with reseller web hosting sites, and they are easy to manage as well. Here, you will rent server space and resell it to interested business owners by repackaging them as your own web host.
There is also the option to join affiliate programs of prominent hosting companies. You can promote their services on your site.
If a visitor completes a specific action as the program requires after clicking on your referral link, you’ll receive a commission.
As per Forbes Advisor, DreamHost, HostGator, A2 Hosting, Liquid Web, and Hostwinds are the top best web hosting resellers of 2021.
Can you build unique websites? If so, you can make a lucrative deal out of selling your websites to interested buyers.
If you’re interested in making extra money online using your WordPress websites, learning how to flip websites can be a great way to start.
For those who may not know what flipping websites are, it is the process of purchasing a website that is already generating revenue and then reselling it for profit. The websites that usually sell for the highest price include membership, affiliate, e-commerce, and dropshipping.
But it doesn’t mean you can’t flip your personal blogs or news websites.
Buyers will evaluate different factors, including niche, monetization model, traffic, revenue to expenses ratio per month, SEO metrics, conversion rates, and the number of social media followers.
As per Greg Elfrink from Empire Flippers, you can generate 20 to 50 times of your revenue per month if your website is maintained well and growing.
These days, there are many ways for you to make money online, even if you’re only starting off with a small site. If you’re just launching your WordPress site and struggling to find ways to monetize it, try the above list of tried and tested monetization techniques that you can implement right away.
These proven approaches will help you take your WordPress website from hobby to business. These are tested ways that have been used by hundreds of bloggers to generate thousands of dollars each month.
Lucy is a creative content writer and strategist at Marketing Digest. She specializes in writing about digital marketing, technology, entrepreneurship, and education. When she is not writing or editing, she spends time reading books, cooking and traveling.