There are masses of different programs and methods that you can use to make money off your website. In short, you can promote products as an affiliate (private programs, amazon, ebay etc), you can rent advertising space (banner ads, adsense), you can rent your list of subscribers to others …you can even rent your website to others.
Setting up a website with a great keyword and ranking it and renting out the site to a local business has been a popular way of making money for jam the last few years. In the last few years many people have been making a decent living just by renting a website they have created for that purpose.
How it works
First of all you need to do some research. Get your local yellow pages out and wipe the dust off it and have a look at the type of local businesses that advertise. Then divide that up into geographical locations, city, suburb, region.
Then time to do some keyword research. Make a list of your business and geographical locations and research each keyword until you find one that is getting decent search traffic and has little competition. With these type of keywords it’s very easy to rank. Now it’s time to buy an exact match domain name for (hopefully) your highest searched keyword. Your domain extension should reflect the area that you are targeting ie if I was targeting local business in Australia I would buy a “.com.au” extension.
Set Up Your Site
Now you set up a site (use WordPress of course!) adding a page of content for each keyword that you have found for your local business. If I was looking at “Chiropractors in Sydney” I would probably have about 10 keywords for that site and 10 pages of content (one page for each keyword).
Now generate some traffic, get some links and hopefully grab number one on the big G for a pretty easy keyword. With these type of keywords it really will not take you long at all a few articles, a couple of bookmarks and you should notice very quickly that you are rising in the rankings.
Renting the Site
Once that is done you just need to approach a Chiropractor in that area and offer to rent the site to them. You can do this in a number of ways, allowing banner ads from them, exclusive site rental, part site rental, allowing them to have their own content on there and you maintain the site and continue to build links ….loads of different ways within the one business model.
One problem with the rent a site model is that you usually agree to a fixed rental for a period of time. At the end of that time you might want to negotiate the rental again but you can’t usually renegotiate because of the effect of market forces.
What I mean is that you agree to say rent the site for $150 per month and then you realise that there is a lot of market demand for your site where people would pay $500 for your site rental you are stuck receiving the lesser amount until you can renegotiate the rental.
A business model that is more in tune with market forces is lead generation. Basically, lead generation requires you again to set up a site with a focus on a local business in a particular geographic region eg. Chiropractors in Sydney. The difference with lead generation though is you are collecting names and email addresses (leads) which you sell to the business. You would have already negotiated a price per lead based on what the customer lifetime value of the lead is worth to the business. A business of lawyers might pay $100 per lead for each client you refer to them because they know from experience if they can convert the lead to a client they will generate a lot of income from that one client (and any referrals over time). A barber, on the other hand, might only pay $5 per lead because the cost of the service is low but they get regular repeat business.
The problem is what if you are don’t know what the lifetime value of a customer is? What if you are underselling the price of your leads? What if, quite frankly, you are a lousy negotiator.
Use a service like Leads Jet which allows you to sign up as a publisher. All you need to do is create a site, rank a site, install the leads jet widget on your site and people/advertisers will bid for your leads.
Now, you don’t have to worry about negotiating prices because the market demand will decide on what price per lead is fair. The price per lead is constantly being “negotiated” as another advertiser increases their bid per lead. All in all as a website creator your monetization method just got easier. You don’t have to negotiate, you don’t have to worry about payments (it’s all taken care of via PayPal) you just sit back and create more sites, get more traffic, send the leads to your advertisers and enjoy this monetization method.
What’s more it is super simple to use. Sign up as a publisher and login to your account (once of course you have created a site). Simply complete the widget and install on your site. If you run into problems along the way there is an active forum of people who can help you and also discuss strategies for best practices.
Leads Jet is the brain child of fellow Australian internet marketer Peter Drew and his team. It’s well worth checking out as another way to monetize your content and also help local business get more genuine customers for their goods and services.