HOW TO MAKE MONEY ONLINE WITH YOUR WEBSITE

If you are an online retailer, the financial path is rather obvious. However, if you’re a blogger, it’s probably not so straightforward. So here in this post we’ll share with you a couple of different ways that you can make money with your site and have a little fun along the way in this fifth and final phase of the website development process.

MAKE MONEY ONLINE WITH YOUR WEBSITE

PHASE 1: E-COMMERCE & SELLING PRODUCTS AND SERVICES

Listen up online retailers, e-commerce is the name of the game when it comes to selling on the web. The Merriam-Webster dictionary defines e-commerce very simply as “activities that relate to the buying and selling of goods and services over the Internet”. So your number one priority will be creating a website that uses the best online shopping cart platform.

Step 1: Shipping your Product

Once you’ve sold the product, you will need to find the most effective way to deliver the product or service to your customer. You may be able to do this electronically if it is an e-book, or even in person if it is consulting or another more personal service. However, the bulk of online shopping is for physical products the require shipping. So, you will want to explore your options to find what is best for your business: direct shipping, drop shipping or even selling through a third-party retailer.

Step 2: Inventory Management

Lastly, you will need to keep track of your inventory as you make, store and sell your goods. Finding the best inventory management system will be key to your success in tracking profitability as well as your Cost of Goods Sold and other accounting items. It may sound boring, but this is all part of business ownership and management and will definitely come into play at tax time.

PHASE 2: OFFERING ONLINE ADVERTISING ON YOUR SITE

Offering other products and services space on your site to advertise is another way to make money. This revenue can help defray the costs of running your website.

Step 1: Ad Sales and Pay Per Click (PPC)

If you sell a product, you probably don’t want to directly promote competitor’s products. So online advertising may be a good option for you since it can allow you control over who advertises and what they advertise. Other online businesses may be interested in advertising on your site if it’s in a related category, especially if you’ve got solid traffic. Online advertising is a really great tool for bloggers and other content-intensive sites.

Generally, online ads generate revenue for the website owner on a Pay Per Click (PPC) basis. This means that if someone visits your site and then clicks on an ad, you make a few pennies.

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