After all your hard work, creating great content and following all the steps to build traffic from multiple communication channels and marketing your business, it’s time to start focusing your attention on how to turn a profit from your business.
If you break down the process of your online business monetization, the following events occur:
- You create a web destination point (blog or website) that people want to visit, possibly on a repeat basis, because of the value it offers. Initially they find the blog or website by following a link from another blog or website, through a referral from friends or colleagues, or they come across the blog or website when it appears in the results of a search-engine query.
- You work to attract attention of your visitors and then sell that attention to advertisers for a fee or use the attention to profit from your own product and/or service sales. There are multiple ways of making money using your business, some of which include profit on a product or service sale, payment of a per-click fee, a monthly rate, and affiliate commission.
The key variable here is “attention”. Attention is traffic, influence and the potential to make money from your business. More attention means more potential to make money.
