This week, I’ve covered a lot of information about passive income and affiliate programs. As we wrap up our talks about passive income, let’s take a quick look at selling advertising space to other companies.
Option 1: Ads on Your Website
Why Add Ads to Your Website?
If you have a standalone website (not Etsy or another marketplace) you can add advertisements to your website. In this type of passive income, you get paid each time that an ad is shown or clicked. The ads shown are generally based on the visitor’s search history. As an example, you can see ads on this website at the top of the any page and in the sidebar on the right hand side.
How to Implement Ads on Your Website
The easiest way to get started with ads on your website is through Google Adsense. Simply visit Google Adsense and sign up for a free account. After being approved as a publisher, you’ll install a piece of HTML code on your website and ads will be shown. After installation, there is no maintenance and you’ll be paid monthly.
Thinking to Your Future Ads
As your website grows and gets more traffic, you might be able to join an ad network. Ad networks install code on your website and manage the relationship between advertisers and your website. When joining an ad network, you typically make more money per ad – but they have minimum traffic requirements.
Option 2: Sell Ad Space to Businesses
If you don’t want to put random advertisements on your website, you can also sell ad space directly to advertisers in newsletters, social media, or your website. In this case, you look at the amount of people in your audience, set a price, and set a duration for the ad length. You then find an interested business and charge them for you to advertise or mention them. Let’s look at a few examples:
- If you make wood signs and have a large Instagram following, you could mention the supplier where you get your wood for signs cut. In this case, you’d get paid to mention your supplier.
- “I’d never be able to get so many signs done if it weren’t for @ABCWOODCUTTER. Here’s what just arrived from them.” #ad
- If you are active with local customers, you could team up with local service providers like realtors, cleaning services, or babysitting services.
- On a flyer advertising an upcoming sign party, advertise for a local ‘Kid’s Night In’ at the local trampoline park. Mention that while the kids are jumping, Mom and Dad can be making signs.
Still looking for more ways to make money in your craft business? Head to this post on multiple streams of income in your business.
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