Dec 19 2008
4 Ways to Monetize a Web 2.0 Site
Now that you have a spankin’ new Web 2.0 website, isn’t it time you made money from it? A Web 2.0 site is a highly functional mechanism, capable of performing more than older types of sites. You already have the tool in your hands. It would be such a waste if you didn’t make full use of it. Plus, it’s an incredibly flexible tool to use with your business, regardless of whether you’re operating online or off. To get you started, here are ways you can monetize a Web 2.0 site:
Build a social networking website.
Sure, this is a tried and tested way to monetize a site and become the most popular destination online and many have used this route. However, providing a platform for social networking remains as one of the best ways to monetize a Web 2.0 site. Witness how a start up like Facebook went on from a little-known site for people to make friends to become a giant in its field, threatening even the more established similar sites.
With a social networking site, you can start small and build from there. Offer free sign-up accounts for new members and then monetize your Web 2.0 site by offering premium memberships. You can also make more by offering spots on your site for advertisers. As the popularity of your Web 2.0 site grows, so will your earnings.
Start an online auction site.
If you monetize your Web 2.0 site for auction, you really don’t have to go against online auction giants such as eBay. You can actually create your own site that will cater to the type of products and services that appeal to a particular niche.
Start with your hobbies or stuff you are already familiar with because they are easier to sell. Then invite others to use your site. It will take some effort at the beginning to ensure that your site works. However, once it’s running and you’re able to sustain an active participation from users, you will literally be earning money even while you sleep.
Bring in affiliates with your Web 2.0 site.
Affiliate marketing is one of those money-earning ventures that owe a lot to the Internet. Thanks to technology, building and maintaining an affiliate marketing business has not only become easier, it has also become faster. Best of all, location, differences in time zones and distance from the central office are no longer issues. Virtually anyone, anywhere can build and run an affiliate marketing site and monetize it in the process.
If you have a Web 2.0 site, it is that much easier to use for affiliate marketing. The technology allows you to
interact in real time with other people online. It also lets your site visitors use the facilities in your site even
without your active participation. They can browse, sign in, pick the products and services they are interested in, communicate with other affiliates and essentially keep the ball rolling for your business.
Raise the bar for customer service.
A Web 2.0 site is the perfect platform for creating better customer service for your site. It may not directly
monetize your site but it will keep your customers informed about you and your business, especially if there are changes or new offerings. It also helps you keep in touch, something that is essential for promotions and marketing. It’s also a way for you and your customers to communicate either with you directly or with other users through the use of forums and discussion boards.
Here is where this lesson ends for today. We really hope you enjoyed this lesson too.
You will receive the next lesson in 7 days. Next week’s lesson will have the following title:
“Practical Tips for Hiring a Web 2.0 Designer”
Copyright(C) 2008 by John Delavera & Reimund Lube
