There are so many ways you could monetize your ideas. So we wanted to show you all the options available. Here are 10 worth checking out.

 

Remember, it’s your business, so choose the right method for you!

 

1. Advertising

Advertising is probably the easiest form of website monetization because it’s almost entirely hands-off. If you want your income to be totally passive, you can just place a couple of ads on your site and earn a little bit of money each time your website visitors click them.

 

However, we usually don’t recommend starting with advertising for most of the time because you will need a LOT of traffic before you start making good money.

 

 

So unless you’re planning on creating a site like Perez Hilton or Huffington Post that posts several times a day, advertising is probably not the best place to start.

 

That being said, it’s an easy, low-commitment way to start monetizing a website if you don’t have any other ideas.

 

2. Affiliate Marketing

Affiliate marketing is where instead of creating your own products, you promote someone else’s — and get a percentage when those products get sold.

 

If there are a lot of great products in your industry that you know, use, and recommend, this could be a great option.

 

 

As you can see, when you have a high-quality, engaged audience, you can make a significant income just from recommending other people’s products alone!

 

3. Write an E-book

E-books are a great way to turn your expertise into income. They’re fast, they’re easy, and you don’t need any special equipment: just write something and turn it into a PDF!

 

Some of the most profitable books we’he ever read have been e-books, such as The Truth About 6-Pack Abs

 

 

If you want to monetize your expertise quickly and easily, you can start by writing and selling an e-book (typically priced between $5 and $49)

 

 

4. Sell an Online Video Course

These are our bread and butter. While courses take a bit more work to produce than an e-book, they have extremely high perceived value. You can charged anywhere from $300 – $12,000 for our premium online courses.

 

You can create and sell an online course about almost anything: from business, to fashion, to even potty training.

 

 

As long as people want to learn it, you can create a course for it.

 

5. Offer a Service

Typically, offering a service means coaching or consulting. For example, personal training, personal styling, and even business consulting are really common.

 

But you could also get creative with the services you offer.

 

 

Services are a great place to start with monetization because they’re relatively inexpensive and you don’t need a lot of setup to get started.

 

The main drawback is that it’s not very scalable, and you’re essentially “trading your time for money.”

 

That said, selling services is a great place to start, even if you plan to eventually scale later. That’s because working with people 1-on-1 is one of the best ways to do deep customer research, as well as collect proven testimonials and case studies.

 

You can even record your coaching calls and repackage them as products later!

 

6. Online Bootcamps

An online bootcamp is basically a live webinar (or a series of webinars) that you charge people to attend.

 

Typically, it involves some sort of online teaching component, followed by a live Q&A session. Some webinars will even invite a guest teacher or two.

 

 

These may not be huge money-makers, but they’re great for getting your feet wet and testing demand for a bigger product you’ll create down the line.

 

You could also make the Bootcamp “evergreen” by repackaging the recordings from the live webinars into its own course that you can sell over and over!

 

7. Events & Masterminds

If you prefer in-person interaction with groups, events & masterminds could be a nice option. When done right, these can be very lucrative — it’s not uncommon for tickets to go for $1K, $5K, and more.

 

For year-long masterminds, we’ve seen people charge anywhere from $15K – $50K+! For example, Jonathan Fields runs his Good Life Project “Immersion” program which is a year-long mastermind with live retreats for entrepreneurs

 

 

Just keep in mind, when you plan one or multiple live events, there’s a lot involved: you have to think about travel, accommodations, renting space, A/V equipment, food, etc.

 

However, if you’re up for it, it’s a great way to build deep connections with your customer.

 

8. Physical Products

Not all products have to be virtual. In some industries, like health & wellness, arts & crafts, and fashion, it makes more sense to offer physical products.

 

Look at Bulletproof Coffee: they sell coffee, protein powders, water bottles, even sweatshirts!

 

 

A physical product can be a bit more complicated because you have to think about sourcing, fulfillment, distribution, shipping, returns, and more.

 

But if it makes sense for your business and the problems you are solving for your customers, it could be an excellent option for you.

 

9. Membership Sites and Subscription Programs

If you want to advertise premium content regularly, you could charge a monthly, quarterly, or even annual subscription fee.

 

A classic example is Weight Watchers. You pay a monthly fee to attend meetings, get recipes, workouts, and more.

 

For example, GrowthLab offers an annual coaching program, Accelerator, where students can have access to our coaches for help on positioning, copywriting, and business strategy. Or take our student, Naveen, who created a subscription program that offers travel deals to members.

 

 

Subscription programs can be a little more labor-intensive since you have to keep putting out regular content or offering an ongoing service.

 

Also, beware that it’s normal for people to cancel with subscription programs. So you need to make sure that plenty of new people are coming in the door and staying for at least 6 months, if not a whole year, to make it worth it.

 

Be sure you think through it carefully before creating a subscription product.

 

 

10. Software or Apps

Finally, you could offer software or an app.  maybe you have a cool idea for an app, like the meditation app from Headspace https://www.headspace.com/.

 

If you have the skills or the money to spend on development, this could be an interesting option for you. As you can see, there are so many ways you can monetize your traffic.

 

We don’t recommend you do ALL of these, but focus on one or two at first. Offering a service, creating an info product, and selling affiliate products are great places to start.

 

Either way, choose the right method for you and your business.

 

 

You may also like…..