Let me share what are the other income streams you can have along with advertisement for your content site or blog to multiply your income.
Most webmasters think advertising as the only moneymaking option from websites. Advertising is definitely the better option to monetize your content-based site but remember it is not the only option. I have seen many bloggers and webmasters who have advertising as monetization strategy in mind, misses out on the other monetization option to multiply income streams. I am going to share what other income streams you can have along with advertisement for your content site or blog to multiply your income.
#1 Consult to Increase Income
If you have a good content site, you’re already helping your readers. If you provide them for more option like a personal one on one consultation, they will be more than happy to hire you for a fee because they already know you are an expert in the domain. On my Technical Analysis Blog, I share my views on Indian market and though I don’t have any consultation services option on my blog, there are readers who have hired me to get a personal consultation from me adding one more income stream to my blog.
#2 Affiliate Programs to Increase Income
Do you often recommend products or services on your site? Why not earn a commission from those recommendations? I use lot of products for my websites. I share my experience with those products or services and I recommend the same here on IMTips and some of those products earn me a commission.
Note that I don’t recommend products only for commission but I recommend products that I use which I think will be useful to my readers and some (not all) of them earn me commission.
#3 Referral Programs to Increase Income
Consider creating a referral program and reward your existing customers for sending new customers to you. I used to follow this a lot when I was new in freelancing. Remember one of my client responded that I don’t sell my friends for cash and yes you will see such responses but it is then when I decided to give my existing clients discount for sending new clients my way.
#4 Add Services to Increase Income
Another way to boost your income is to expand your services. If you are providing web designing, you can think about adding web development, or even web hosting service.
I use to provide vBulletin services when I started and I added few extra services like server management for large sites or forums and as I added more services, I was overbooked with lot more work than I can actually handle.
#5 Membership Programs to Increase Income
A membership program provides you with a consistent monthly income. It helps you make more money each month. If you have a product where you are charging your client a one-time fee, you can look about expanding your product to add some membership type program where you can make lot more monthly consistently over the period of time.
Apart from advertising, what other income streams you use on your sites? Share your income streams in comments below.
Further Reading …