Collect your audiences personal details and use them for nefarious ends while twirling your mustache and hiding out in a secret lair in a volcano. (Kinda like how Zuckerberg does it)
Sure, but in that case, the website is a marketing campaign for something else, not a product. (We're not disagreeing, really, it just depends on how you're setting the scope.)
Depends on the niche. Have a look and see what typical keywords you expect to wind up on your site garner on AdWords; if you can attract eyeballs for less than, say, 40% of that price (to allow for Google's margins) – including your time or cost for content generation – then you might make some money.
But you'll need quite a lot of traffic in a reasonably high-purchasing-intent niche.
I started the site with my friend and my girlfriend back in February while I was still in college. It took off.
Like I said below, I only got direct advertisers in July, so it took awhile to grow. I was making about $1200 / month from Adsense in May/June, and some of the space has been sold to direct advertisers and I still make about $900 / month just from adsense, plus more from the advertisers.
I'm still looking for more, but the project has taken a backseat to my new project: Djangy.com
I basically went and bought a High Times magazine and contacted every. single. company. that advertised in the issue I had.
I got a handful of responses, and one of them took a chance and gave me $X to try it out. I'm still waiting to hear if he wants to continue advertising.
The other one took longer to get, but I'm sending a significant amount of traffic their away and they're seeing revenue from the traffic, so it will likely continue.
RE: traffic -- My visitors are by FAR mostly coming directly. Which is a great position to be in. The other misc. Facebook was an early source, but not very high (no pun intended). Once I added "like" buttons to each story, facebook skyrocketed to the number 2 traffic referrer. Then there is traffic from StumbleUpon, twitter, a few blogs, and lastly organic search. But the search keywords are mostly just "that high", nothing outside the name of the site.
I'm sure there is a TON I could do to get more visitors. I would like to focus on it more and turn it into something that makes alot more money than it currently does. I know if I put some more time into it, it could make a ton of money, I just have to grow it, and that takes time.
It varies between 900k - 1.3M page views per month. Fluctuates between 90k and 110k visitors. Like I said, I haven't touched it in quite some time, as I'm focusing literally all of my energy on Djangy
Built the site back in February and got my first direct advertiser in July.
I've learned that these things unfortunately take time. Trust needs to be built, traffic needs to happen, and companies are sometimes understandably reluctant to shell out a bunch of money for some ad on a website they don't really know anything about.
But if you can provide actual traffic for them, they'll pay for it.
Congrats on your success, but getting to >$1K/mo. in under five months seems incredibly fast, especially for something that requires such little maintenance.
Can you expand a little on your expectations? Maybe provide some more context?
It seems like a lot of developers let their projects tread water unless they see extraordinary profits in extremely short time frames. Maybe there was a large up-front investment?
I'm guessing that there are a lot of these projects sitting around; does anyone know of a marketplace to partner or buy/sell these types of businesses? The ones I'm familiar with (flippa, sitepoint) don't generally cater to projects with existing cashflows.
Sell site merchandise, if applicable. I don't mean using Cafe press, I mean do a survey of your viewers and ask if they'd be interested, take the number of "yes" votes and halve that, and if you've got more than, say, 50, do a run of tshirts based on the sizes in the survey you put out. Make sure you have a quality design, make sure the tshirt printer shows you a proof before you give the go on the large batch, then put it on your credit card, and sell the shirts. A one color print job on a single side of a decent shirt will run you $5-7 USD, and you can sell them for $15-$30, depending on a number of factors.
Before affiliating with eBay and Amazon, I would do a fund drive every couple of years. You know, "Hey, we've got 80,000 monthly unique viewers, if every one of you pitched in a quarter, I'll never bug you about cash again." Asking for donations once every two years is much more effective than leaving up a 'donate' paypal button, in my experience.
eBay and Amazon have easy to use APIs that can generate affiliate links which can bring income. You can either build out a merch page a la http://theninhotline.net/features/merch/ or if you're writing about stuff that might have related reading (or in my case, music) link to stuff on Amazon within your content every now and then.
Having said that, don't make a post just so you can link to Amazon. Don't let your affiliation drive your content. But if you think linking to a book might genuinely be interesting to your audience, do it, and use an affiliate link.
I look at ads as a last resort, but that's because I'm odd. I've only rarely put ads on my site, and only on a direct-sale kind of thing. MTV contacted me asking me if I could link to something of theirs, I wrote back and asked for what I thought was a reasonable price (based off what I made in Amazon and eBay) and they agreed to pay for the link, which I had creative control over, and which featured in my sidebar for a month.
This is both the obvious way and usually the best way to earn money. Don't forget that this includes selling other people's things through affiliate programs.
How much you make on ads depends on your site, your audience, and all that.
Looking at quite a few sites, I see results that are counterintuitive: for instance, you can make more money running ads on a Chevy forum than you can on a Cadillac forum.
You might think that Caddy owners have more money than Chevy owners, however, it turns out that Chevy owners like to trick out their cars with aftermarket parts and Caddy owners (even poor owners of 20-year old Cadillacs) like to have OEM everything... Most of the ad spend is on aftermarket parts... GM isn't going to spend money on caddy forums because the people on Caddy forums know more about GM's products and GM's product plans than the people who make the ads.
I think it's also about supply and demand. Even though people spend a lot on cars, car products and car services, my experience is that there are a lot of topics that pay better than cars. The trouble is that there are too many car sites out there already, so the spend gets diluted Every gearhead and his brother has a web site about cars.
You've got to watch out for "otaku topics" like Anime. Unfortunately, anime fans are weirdos (the kind of ~guys~ who dress up like a purple-haired princess for Halloween) who don't spend a lot of money on stuff, and particularly don't spend a lot on anime because they download it all off bittorrent long before commercial dubbers start negotiating for the rights. 2/3 of the people who like anime already have a website or a livejournal or deviantart page about it, so talk about dilution... Christ, you can't pay for the storage and bandwidth costs for your images...
- Selling data collected to others (and it doesn't even have to be personally identifying customer info. I worked for a company that did speed tests and at one point a company in another country that knew of our speed tests wanted to buy our speed test result data. We never sold it, but sometimes offers come to you!)
- Donations (via paypal, etc.)
Can it generate enough money from Ads? Not as well as it used to be able to, but yes it is possible. Is it likely without much effort? Depends on amount and kind of site traffic and content of the Ads.
You need to have confidence in what product or service you are selling, though, and have a potential/real customer feedback loop setup from the beginning. You shouldn't rely on Ads alone. If no one is coming to your site, they won't click on the Ads.
When you say "website", is it content-driven or a web application/tool? Either way, ads would be a good (only?) option.
If it's content-driven, you can do premium content stuff (like eBooks, downloadables, etc.)
And when you say "enough money," how much are we talking about? It's all relative: the more traffic you get, the more money you get. I would focus on growing your community and audience before even thinking about monetization. Have that behind your head, of course, but you're not going to make money if you don't have traffic or a community. You're not going to make anything significant if your product sucks. Focus on the product first, the money will come eventually. It's an investment of time and a bit of money (web hosting on a VPS is like $20 a month and you just scale when you need to).
It really depends on the kind of business. If it's user-generated content, you're going to have a tough time with ads.
Instead, you should talk with your customers (or potential customers) to see what their needs and pains are and base your business model off of that research.
Are we talking about Google Ads or accepting my own ads directly from vendors?
At what traffic rate, will I be in a position to get my own ads from vendors?
This will be a niche website.
You could make money off of ads but you'll need some serious traffic (ideally, within a niche) to command decent CPMs.
A better strategy (and one that I'm using on NotaryCRM.com) is to sell the audience something else that's useful. In my case, notary publics get a free listing in my directory but I try to sell them on a CRM system to make their lives easier.
Can anyone provide some examples of businesses that have successfully used more than one of these methods? We all know about Facebook, but let's look at businesses who fall under the Radar.
I want to see what people say before I provide my example...
My answer is Woot.com... they sell the products of others in a very unique method. Additionally, they sell the attention of their audience with advertisements.
Targeted niche sites can do pretty well with direct ads even without a lot of traffic. 50k+ pgviews is a great start.
Quick pitch - I work at isocket, a company that makes it easier to manage your direct sales. We take care of billing/invoices, scheduling campaigns and stats. You can focus on the human part - selling - which we can help advise you on.
There are something like five things you can sell via or over the Web:
i) sell products which you buy or make yourself (ecommerce)
ii) sell services which you generate (x-as-a-Service)
iii) resell other people's products or services on commission (affiliate marketing)
iv) sell your audience's attention (advertising)
v) sell your audience's behaviour (usually to advertisers or publishers so they can sell more advertising – behavioural targeting)
That's what you've got. Only two of these directly require you to take payment, but they're the easy ones to understand...