More people are starting to understand the importance (and benefits ) of having a website today. You can market anything you like on the internet and with some knowledge on a certain niche, you can become an expert and start to make money online. You don’t even need a lot of start-up capital to make money by selling advertising space online.
Make money Like the Newspapers Do
Newspaper publishers hire reporters, writers and other important staff to create the content, print and deliver the papers to their readers. The publisher has to invest regularly in heavy duty machinery and equipment, and tons of paper to print tons of newspapers on a daily basis.
And in order to ensure that the newspapers are delivered on time, the publisher appoints agents at every part of the covered territory.
Newspapers are generally very cheap, and local newspapers are often completely free of charge.
So, how does the newspaper company make money? By selling advertising space!
Newspapers are flooded with adverts, helping readers to get in touch with the services they require in an instant. The publisher simply sells advertising space in the papers to advertisers who want to leverage their advertising efforts on the paper’s high readership.
By using the same analogy as a newspaper, you can make money from your newsletter or website.
Did you know that 95% of consumers search the internet for local services or products to buy?
You can tap into that huge market by using your website as an advertising portal.
How to Make Money Online by Selling Advertising Space
There are so many different ways in which you can sell advertising space on your website, but it is important that you think through your web strategy carefully before plunging headlong into new territory. Here’s how:
1. Find Your Niche
If you want to be taken seriously online (which is necessary if you want to sell anything), you have to find a niche, or an area in which you specialize. In order to keep your audience engaged, you need to be able to continuously churn out new content, ideas and information on a topic for a while before you start to make money online. Alternatively, you can hire a professional content writer to do it for you. But how do you find your niche?
Ask yourself these questions:
- What are you passionate about? What do you talk about a lot?
- About which topics are you most knowledgeable? You will know this by looking at the topics about which people always turn to you for advice.
- What can’t you go without thinking about or doing almost every day?
- Where do you see yourself in 5 years?
- You can’t resist watching television shows or reading books about ___________?
Now that you have an idea about what you are passionate about, consider that your passion. Is there something you can bring to your readers or subscribers? Look at sites that already focus on that topic, and look at what you can do differently. That would be your niche.
2. Consider Your Options
You can use a range of different sites to sell advertising space and to make money online, including:
Business listings / Directory sites: Advertise local, national or international businesses on your site.
Subscription sites: Just like you pay for a subscription to your favorite monthly magazine, subscribers will pay to belong to your subscription site, if it offers amazing benefits, freebies and quality information in one place. Use this to sell advertising space for businesses that offer products or services within your niche. You will need a lot of content at first, some free and some premium, to appeal to both potential and existing subscribers.
Forums: Forums are gaining popularity, as more people turn to these portals to communicate with other consumers for input on various topics. Use this to sell advertising space to businesses in that niche. While it requires less original content, it does require strict moderation to remain a quality forum.
Blog: A blog is a simple and easy method for making money online by selling advertising space. Here you have options ranging from affiliate marketing, pay-per-click advertising, sponsored posts and advertising banners. Again, you will need a lot of content to produce regular posts in order to grow your ranking and increase traffic to your site.
Check out this post before you launch your website.
3. Build Your List
Successful advertisers stay at the top of their readers’ minds. You can achieve that in a number of ways, with email marketing leading the pack. Email marketing is a very personal way of keeping in touch with your subscribers, and when your mailing list size exceeds 1,000 (5,000 is recommended) subscribers and beyond, you can start selling advertising space. You could charge your advertisers per sponsor ad in your email newsletter. This way, you turn every issue you send out to your subscribers into a profit-pulling device.
Since there is virtually no end to the stream of advertisers as products, services and businesses are cropping every single day in every industry imaginable, so are your money making opportunities.