5 Best Ways to Make Money Online in 2020
However, be careful — some of those methods can be malicious, as there are many scams or other illegal activities out there.
1. Create a Membership Site
Membership sites have exploded in popularity recently and the idea is easy enough to implement. It does, however, require having an existing audience of some sort.
For example, Mark Manson runs a popular self-development blog. On his site, there’s a membership portion that gives users access to online courses, videos, and additional article commentary. For fans of his work, it’s a great deal.
People are already visiting your website because they like what you write about and how you use your style. So, you can create a membership section of your site that offers premium content.
Now, every single person who visits your site won’t take you up on the offer, but your dedicated fans will find it irresistible.
The type of membership site you create will depend upon the kind of site you run and the level of depth you want to go with your premium content. If you like the idea, check out our guide on how to create a membership website using WordPress.
2. Sell Advertising Space
We’ve all seen sites that use advertising throughout their content. Sometimes the ads are intrusive, but other times they integrate naturally with the content.
Monetizing your site via advertising is usually reserved for when your site is receiving a large volume of traffic. If your traffic numbers are high and only continue to grow, then this option could be worth exploring for some extra cash.
While the amount you’ll get paid will depend upon the network, you’ll usually get paid based upon the number of impressions or clicks.
There are many different ad networks to choose from. Google AdSense is probably the network you’re most familiar with. With it, you apply to the network, and once you’re approved you can start adding ads to your site. Typically, the payout for Adsense ads won’t be great unless your traffic is in the millions of visitors per month.
There are other ad networks like Ezoic and Media. Both of which have an approval process and site evaluation. These networks also have the benefit of working with you to optimize your advertising revenue.
If you don’t want to work with an ad network you also have the ability to sell advertising yourself. If you have a niche audience, this can be a pretty worthwhile option. Let’s say you have a site dedicated to sleep optimization. Instead of using one of the ad networks mentioned above, you could sell ad space to large mattress companies.
You also have the option of creating sponsored content. This is where a company will pay you to create sponsored content that you would post on your site. Sites like Buzzfeed and Millo have taken this approach.
3. Sell Your Services
Selling services from your website is one of the fastest ways to online money making.
There are two different approaches you can take:
Create an Educational Blog and Offer Your Services
Create a niche blog that contains useful information about a certain topic. Let’s say you have a blog about woodworking techniques, and you’ve built a decent sized email list and got a solid traffic number.
You can add a services page to your site where you offer woodworking lessons, whether in person or through mediums such as Skype.
Create a Basic Website and Pitch Your Services
The other method involves creating a WordPress website for the sole purpose of pitching your services to companies and individuals.
Let’s say you want to be a freelance writer. You need to pick a niche and build your website. Then, create a few pages telling people who you are, the services you provide and showcase a few examples of your work.
Then, start generating leads for your new service business by engaging in guest blogging, podcast interviews, or cold outreach.
If you’re looking to take your service-based business to new heights, then combining the two methods will give you great results.
4. Create a Subscription Job Board
Job boards can be a rather profitable way to earn a living with your website.
The process is simple — people looking to hire someone in a specific niche will post a job listing on your site and your visitors will apply for the job.
You can either charge people to post job listings. Or, you could charge your visitors a monthly membership fee to access the job board.
Keep in mind that you do need to have decent traffic in order for such a site to work. A company won’t pay to post a job on your site if you aren’t sending any qualified applicants their way.
For example, let’s look at the ProBlogger Job Board. Here, companies and individuals will pay a fee to post a job listing on the site. Then, it’s entirely free for anyone to access and apply for the job. Since ProBlogger is an authority site with a large audience, businesses who post a job will get hundreds of applications for each listing.
When creating a job board make sure you have a solid audience that has a synergy with companies in your space.
5. Create an Online Directory
Online directories aren’t as popular as they used to be, but they can still be profitable.
They work in a similar fashion to the job board above. But, instead of people paying to post jobs, or get access to the job board, they’ll pay you a monthly fee for a directory listing.
If you have an authoritative site or get a lot of traffic, then these listings are pretty valuable.
Let’s say you run a site that’s dedicated to web development and design. You produce high-quality content and have a solid amount of authority. You could create a directory portion of your site where web developers and agencies can purchase a listing.
This will not only provide them with a solid authoritative backlink, but it could be a nice source of traffic for their business.
Usually, directories work by charging a monthly subscription fee to be listed. You could even charge a premium fee to let businesses list themselves at the top of the directory, getting even more eyes on their listing.
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