Write Your Online Business Plan: Monetization
Write Your Online Business Plan
There are several ways to make money from your online business. Before you “hang your shingle” decide how much you’d like to make from your new venture. You can achieve your ultimate goals offering multiple products, services, and ad revenue.
Determine Your Profit Objectives
All websites are able to be monetized immediately. Once you’ve set a goal for how much you’d like to earn from your website, you’re able to decide how you’ll make money from your website. Here is a list of the most common ways to monetize any website.
- Offer evergreen products
- Digital downloads of custom or stock creative items (video, vectors, etc.)
- Online courses
- Join networks
- Advertising networks
- Affiliate sales networks
- Membership website
- Access to exclusive online content
- Online networking experiences
- Discounts or free attendance to offline events
- Exclusive live and recorded trainings
Your monetization choices influence the design of your website. Choosing the right content management system (CMS) is an important part of meeting your profit goals. The right CMS will offer functions that complement your objectives.
Choose the Best CMS to Monetize Your Website
There are countless CMS options for your website. You want a CMS with an easy to use backend for website maintenance. User experience for your website visitors should also be considered as you select a CMS. Another important consideration is the ability for your website to grow as your traffic and profits increase.
Easy to Use Backend for Maintenance
Choose a content management system that provides easy access to update your content without using complicated coding. Your website should also be able to handle multiple media types without slow download times. Running your business will require time away from the keyboard, so you’ll need to be able to schedule content updates. You’ll also need access to simple SEO tools for metadata and online sharing tools to build your audience.
In addition to having a “pretty” website, you want users to have a safe experience on your website. Be sure your website is PCI payment compliant. Another important component of a safe user experience is an SSL certificate. Don’t discount the importance of taking preventive measures to protect your audience and customers.
Easy to Scale as Website Traffic Increases
Business growth online can happen gradually or increase exponentially with one well-timed, well-created social media post or advertisement. Take the ability to scale up or down quickly based on your audience behaviors into consideration as you choose your content management system. Here are several other important considerations:
- Reliable support from a large community
- Reliable uptime from your website host
- Uninterrupted access to live support by email or telephone
Choosing how you’ll monetize your website is essential to achieving your goals for your online business. Selecting the best CMS for your needs is as important as how you make money online. Make sure your CMS offers you and your audience a pleasant user experience. Whether you choose WordPress, Weebly or HTML be sure your website host offers reliable 365/24/7 live support by email or phone.
December, National Write a Business Plan Month, is the perfect month to plan your online business.
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