Having a hobby which brings additional income is a boon, but with enough hard work, a well developed and monetized website has the ability to turn into a well paid full-time job. Keep in mind that a website is a work in progress project and while at start your website probably will not be generating more than the money needed to cover basic expenses for keeping it up. However, with enough time and effort invested, you will be seeing greater gains.
Affiliate marketing or affiliate links
The quickest way to monetize your website is affiliate marketing or affiliate links. While you can read our Amazon affiliate website guide for a detailed explanation, we can say that affiliate marketing works the following way: on your website, you promote or endorse a product or a service that you would recommend. If the promotion is engaging enough, visitors will use the affiliate link and purchase the product or service, with you getting a commission from the transaction. Average commission can be around 30% though for some items it can go up to 50% depending on the product or service in question.
Google AdSense or other Pay per Click Advertising
Pay per Click advertising with Google AdSense is relatively simple, though you will need high organic traffic on your website to be able to generate a considerable income. After you sign-up, you will have to place simple code (provided by Google) on your website which will recognize the content of your website, and start displaying ads appropriate to your website niche. Every time a visitor clicks an ad, you will get paid ($0.50 -$5.00).
Sell Ad space on your website to marketing companies
Side banner, top banner, or any other part of your website can be used to display ads, which you can sell to different companies looking for advertising space online. Depending on how many visitors your website gets and what part of your website you are selling as ad space, so will the price be negotiated. For a well-visited website, it can cost from $500-5000 per month.
With a high content and presentation quality, even with a smaller but engaged visitors community, you can offer visitors to donate funds for keeping the website up and running. PayPal or another online transaction service can provide assistance for integrating such system into your website.
Accept sponsored posts and articles
Once you have built up a community around your website and the visitors have confidence in your product review and presentation, you can review products in an “advertorial” fashion. For example, a company offers you to make a review of their product, that is relevant to your website audience. This kind of “Natural advertising” is appealing as a modern marketing technique, as both you, the product company, and visitors are in a win-win situation.
Build an e-commerce website
With WordPress and few select plugins (WooCommerce, WooZone etc.) even people who do not have any coding skill can build an online shop. However, as there is a great number of online shops available, I would recommend building one around a specific area or a niche that you are well knowledgeable about. Using that knowledge you should provide additional value for visitors, for example, different know-how guides and tips for the specific products.
Follow your website growth using website analytics
There are other ways to monetize a website, and you do not need to be a crack coder to make a decent buck out of it. But you should integrate Google Analytics into your website and monitor your website growth. Be sure to check your website loading speed and if needed improve your website content so your visitors will not bounce due to long loading time. With a decent WordPress theme, and a solid effort into content creation and presentation, after a while, you will be able to turn a decent profit from your website.