Your Website Monetization Options Part 2

Dropship Ecommerce

Realistic Projection: $50, 000/year – $3,000/website per month

Pros

• Low startup cost
• Almost hands-on
• Seen by friends/family as a ‘real business’
• Sellable asset
• Very scalable

Cons

• You need to drive traffic by yourself

You could earn $3000 per website per month that’s realistic and you could earn $50,000 per year from your business. Some of the pros, it’s a low cost start up option so you don’t have to have any money on the table of your own at all to begin with. Because you don’t have to buy inventory.

It’s almost hands off. It’s not entirely hands off because you still have to be the middleman, pass on the orders to the manufacturer but it’s a reasonably hands off business. Again it’s seen by friends and family as being a real business and you’re definitely building up a very, very sellable asset.
The cons are that you need to control the traffic yourself. You could still be selling the products on Amazon but generally speaking you’re going to be the one that’s responsible for driving traffic to your website and that can be a little bit more work.

SEM (Local Marketing)

Realistic Projection: $100,000/year – $500/client per month

Pros

• High demand
• Great for diversity
• Seen by friends/family as a ‘real business’
• Easy customer retention
• Outsourceable
• Very Sellable

Cons

• Deal with people
• Not as scalable

The pros is that there is an insane demand for this. Every local business needs you. Every local business needs people that have got your skills and it’s easy to find customers. I mean you can just walk in to the shop and tell them that you are a search engine marketing expert and you’re going to have customers. It’s great for diversifying your income and it’s easy for customer retention.

Now because it’s easy to show your value month in, month out. It’s very, very outsource-able once you get it set up, so one of the things that we offer our customer for this is setting up Google price listings. And it’s something that can be outsourced quite easily.
It’s also extremely sellable because when you get this thing up and running… I mean it’s like a physical business. You can even have a shop that people come into if you want to. Of course you don’t need that but it’s a possibility.

Info Product Creation

Realistic Projection: $20k-$100k/year

Pros

• You’re in 100% control
• Can leverage affiliates
• Multiple selling channels
• Easy customer retention
• VERY Sellable
• Can be hands-off later

Cons

• A lot of work up front
• Could be a complete failure
• Can be costly
• Marketing expertise needed
• Not scalable

You could launch a product. It could be an internet marketing product. It could be a product about weight loss. But the money can come in a big lump sum or it can come in steadily overtime. It really depends on what product that you’re creating.
Now the pros of this are that you’re 100% in control. You can control everything. You can control the price, the content, how it’s sold, where it’s sold, who it’s sold to, everything. And that’s brilliant from a marketing stand point.
You can also leverage affiliates. So you can have other people selling your product for you and I mean this is a great way to ramp up sales in a very, very quick way. And you can be selling products through multiple channels all at the same time.

It’s not that you’re limited to just selling it in one place. I mean you could be selling it in a whole range of different ways and it’s a very, very sellable asset. If you create a product then you can… basically anything that’s got an income that you can transfer to someone else is going to sellable. So it’s very, very sellable and it can become hands off later.

The cons is that it can be a lot of work upfront. So you can  be working for several months or more before you even know if you’re going to sell a single thing. So it could be a complete failure. If you do it the right way, probably it won’t be a failure but it could  potentially  be a  complete  failure and it can be a costly exercise because quite often you have to pay for marketing expertise like writing sales copy.
So it’s not quite as scalable but again you can make a lot of money from this and will vary what niche you’re in but again that’s one of the options on the table.

Fiverr

Realistic Projection: $10,000/year – • $1000 per month

Pros

• 99% hands-on
• Low startup costs
• Can start earning tomorrow
• Easy customer retention
• VERY Sellable
• Can be hands-off later

Cons

• Is it sustainable?
• Low earning sometimes
• Not a sellable asset

Fiverr is an interesting one because it’s got a realistic earning prediction of maybe $5000-$10,000 per year but it’s something that you can get started very, very quickly and it’s a good way to bring in a bit of extra pocket money. So it’s not going to make you a millionaire but it can still do well.
So from each Fiverr gig, for each Fiverr offer, each product that you’re selling on Fiverr, you can make $150 per month. That’s very conservative, very realistic and absolutely doable. Now the pro and cons of Fiverr is that… the pros first of all, it’s extremely hands off.
Very, very low start up cost. I mean basically zilch. And you can start even tomorrow.

Now the cons are that you know is it sustainable over the long period of time. It’ probably not as sellable as some of the other different methods that we’ve been talking about
But Fiverr is an interesting one and you can definitely earn several hundred dollars per month from this easily

Adsense

Realistic Projection: $25,000/year – $500/site per month

Pros

• 100% hands-on
• No ’people contact’
• Low startup costs
• Somewhat scalable
• Easy

Cons

• Google
• Content creation

Very low start up costs. It’s dead easy, somewhat scalable. I mean you can build new websites but that cons are there. You do have to create content. You’re relying on Google for the most part. It’s hard to send paid traffic because again you’re earning very small amount of money. You’re earning pennies per click essentially. But it’s something that you can do well and some of the different people that I have spoken to recently have been earning at a rate of about $20,000 per month form AdSense.
So if you scale this up or if you’ve got a website that’s got a lot of traffic, then you can still make a lot of money from it.

Selling Yourself (Services)

Pros

• Can start earning tomorrow
• Instant gratification

Cons

• Trading hours for dollars
• NOT sellable
• NOT scalable

Selling your services. Now this is something that could get you to $50,000-$100,000 per year, maybe $4000 per month.
The pros about this is that if you’ve got some expertise like maybe you’re a photographer or a graphic designer or, I don’t know, you write articles for people, then you can start making money tomorrow. And you can be at a run rate of $60,000 per year next week and by run rate, I just mean how much you’re earning per week. So you get instant gratification. You do a job you get paid.

But the cons is that it’s not hands off income. Actually it’s 100% hands on income. You have to do everything. It’s boom and bust because you do one project, a project finishes and then you’re back down to zero. I mean you’re trading your hours for dollars. So it’s not something that I am a big fan often, and I would recommend you to stay clear of it. Because it’s going to be very limiting for you over the long run.
It’s not really sellable and it’s not really scalable unless you start hiring a whole team, which is a little bit different.