Once your website gets established, indexed and you start generating traffic to your site there are many different ways to earn money from your website. Did you know you could rent out space on your website and earn a substantial amount of money doing so?
This happens to be one of the most lucrative and easiest way to create residual income for yourself and add another income stream.
I like to think of a website as a virtual piece of online real estate that goes up in value the more content you add to it and as it ages.
Before you can utilize the space on your site and rent it out to potential advertisers there are a few things that need to be set in motion before any of this is possible.
Within the following article, I’ll be providing you with a checklist of things you’ll need to do before you can set all of this up.
2 Things You’ll Need To Do Before Selling Ad Space On Your Site
- Traffic- Before you even think about offering advertising spots on your website you need to make sure you’re getting a pretty good flow of traffic to your site on a daily basis.
Do you think people are going to want to pay you for advertising if you aren’t getting that much traffic to your site? I know I wouldn’t and I’m sure you guys wouldn’t want to do this either would you?
How much traffic do I need to attract quality advertising prospects to my site Scott?
Well, there is no certain number, but I think you should be at least getting 1500-2k visitors each week before considering this if you want to make some good money with this.
2. Keep It Relevant- Depending what niche you’re involved in will determine what type of audience you want to target. If you run a gaming site you wouldn’t want to advertise the latest and greatest way to make money online would you?
Not only would this confuse your visitors and cause them to leave your site, it could also hurt your reputation as an online marketer as well. This could also be bad news for your advertiser as well and could cause them to lose money in the process of all of this.
A 4 Step Plan Of Action To Follow To Make All Of This Work
Once you’re hitting the traffic numbers and have decided on the type of ads you want running on your site, there are a few more steps you’ll need to follow before you put this into action and I’ll be listing these steps for you guys below.
1. Map Out Your Advertising Space- Before you can start renting out slots on your website you’ll need to determine where you want these ads to appear. The most logical and most effective place to place ads is usually in either your header or your sidebar.
2. How Much To Charge- Once you narrow down where you want to allow people to advertise you need to decide how much money you’ll charge for this service. Obviously, ads towards the top of your page would cost more and ones around the middle and bottom would be cheaper.
3. Create An Ad On Your Site- This could be a simple page informing people of what you’re offering and letting them know what kind of advertisers you’re looking for. At the bottom, you should implement some kind of a contact form so that people can get in touch with you so they can get more details about this.
Your ad should contain the following:
- The number of daily visitors your site gets
- Some demographics about your website (ie: Engagement, time people spend on each page, and the type of audience you’re attracting)
- What type of leads they’re looking for?
Your contact form should contain a place for them to leave their contact details and the best time for you to get in touch with them.
Keep it short and sweet!!
4. Getting The Word Out- Once you create your ad, it’s time for you to get the word out and find people who are looking to advertise on your site.
There are 2 ways you can do this and I’ll list both of these ways below!!
1. Paid Ads- The most cost effective way for you to reach out and find people who’re interested in your services would be to create a FB ads campaign.
Who knows your audience better than Facebook?
Facebook is the best marketing tool out there and they give you the ability to target a specific group of people and narrow this down by age, gender, or race.
Of course, you would need to have some general knowledge about marketing and have a small budget to spend on your advertising campaign.
Social Media- If you lack the funds to run an advertising campaign and you’re looking for a free way to advertise your offer without breaking the bank you could always advertise your offer on social media.
This is usually more effective if you have a decent amount of people following you and have established yourself as an authority in your niche.
How To Double Your Money Without Doing Any Extra Work
If you’re looking to double down and earn even more money from your clients then it’s important for you to do some thorough research before you seal the deal.
If these people are coming to you to advertise their products and services it’s highly likely that they may also have their own affiliate program that you could join and earn even more money.
This opens the door for more opportunity and gives you the chance to earn commissions from the products they’re advertising on your site.
As an online marketer, you should never leave any money on the table and you should always be on the lookout for additional ways to bring in some extra revenue.
If you’re looking for an awesome place to learn more about affiliate marketing or renting out advertising space on your site I would highly recommend you check out Wealthy Affiliate.
This is the place that has shown me how to build an ultra-successful business and given me the tools necessary to take my business to the next level and beyond.
Hopefully, this post has shown you guys a quick and easy way to earn some residual income and given you some guidelines to follow before attempting to sell advertising space on your website.
I would love to hear your thoughts on this and answer any additional questions you may have in the comments below.