Small businesses often struggle to come up with ways to make money online. Of course there are many reasons for this but many do not realize how many solutions are available. The building blocks to create commercial web solutions are now much bigger and easier to use than ever. You don’t need to know code (although it helps) to develop the solutions listed below.
I hope these methods spark some ideas and help you think about some ways to make money in your niche.
Why WordPress Is So VersatileWordPress has grown and evolved since its early days as a blogging system to a fully fledged content management system. The fact that it is open source has allowed enthusiastic developers to mold its capabilities to fit with many different business solutions. With over 69M websites WordPress has established itself as a major platform for websites and blogs alike.
Designers and developers have produced themes that deliver amazing front end designs, and even these can be further customized thanks to the flexibility of WordPress. Whilst themes deliver the look and feel it is the incredible power of plugins which provides the muscle behind WordPress. Plugins provide the functionality and are essentially the tool kit that allow you to use WordPress for your own purposes.
Niche solutions have been created using WordPress that allow you to make money online. Whilst blogging is a popular way of making money online the reality is only a few really make a sustainable living from it. Outside of blogging itself then there are other ways to make money online using WordPress.
The success and revenue opportunities will of course depend on how these methods are applied, the ideas, markets and amount of resources put behind it.
Ways To Make Money Online Using WordPressThe methods highlighted below can obviously be used together and many people do that. However, I wanted to pull out the key reasons for using each method as a form of generating revenue.
#1 – DATING SITEI was surprised when I first came across this as a solution that it had been developed. But here is the thing, the dating market is worth an estimated £2Bn globally. So as you can imagine you only need to have a small slice of that pie to make a decent income.
Whilst dating sites have become very popular there are is a noticeable trend in the market. This trend is the move to arrange local meetups (which plays to our earlier model of organizing events) and which compliments the need to be local. Competing at a local level and building a reputation for being an excellent host at events could deliver a more powerful value proposition than the big players.
WORDPRESS TOOLThere are not many WordPress plugins in this category. The main one is called Dating Solutions
#2 – DIRECTORY SITEDirectories can still be useful to people particularly if they focus on helping businesses connect to their customers or connect with each other. The key is understand the value proposition and what people will get from using. Simply listing businesses will not help. Finding a niche market though can benefit people.
WORDPRESS TOOLThey are lots of WordPress directory plugins but Connections has been around for a while, has the largest number of downloads, some great extensions and is well supported.
#3 – ECOMMERCE SITE
Global e-commerce sales are growing by more than 19% yearly and are expected to be of over total 1,5 trillion by the end of 2014!Do you shop online already? Well you are not the only one and as more people move online to buy products, now is a good time to start an online shop. Besides physical products you can also sell digital products such as ebooks, courses (mentioned above), art and photographs. You can even pre-sell consultancy time, training and much more.
One key factor though that you should consider though is the fact that whilst you can scale selling products you can’t scale selling your own time. So setting up an ecommerce can not only provide a revenue stream but if it is successful it could grow.
WordPress has become a great platform for not only building blogs and websites but online shops as well. You can easily set-up an ecommerce using a good quality ecommerce plugin. I have produced a review of the best six ecommerce plugins.
WORDPRESS TOOLWordPress shops not only allow you to sell physical products but digital products as well. If you are a small business start to brainstorm what products you can sell to gain a revenue stream. The ecommerce plugin that I recommend for people starting out is
#4 – MEMBERSHIP SITE
How many times have you searched for information on how to do something but found no one answer and worst of all had to piece together information from different sources! Finding good quality structured information on the internet can be hard. A winning formula then is for memberships sites is to offer e-courses. If you can successfully add value to your potential customers thorough your experience, knowledge and skills then a membership site could be a brilliant way to generate revenue.Membership sites provide an ideal way to get an audience to pay to have access to your content, knowledge and skills. The key to making a membership site work though is not just getting people in but keeping them. Many online businesses that offer memberships have a high attrition rate. So instead of asking people to subscribe forever you may much better results selling courses for a fixed price. People buy courses that help them save time, make money or improve and area of their life or work. Once one course is finished you can drip feed further courses on top.
WORDPRESS TOOLWordPress has a fabulous tool for creating membership sites because of the way content can be structured and hidden according to user levels. The plugin I recommend for easy setup of a membership site is Membermouse or for those that do not like the idea of paying monthly Wishlist Member.
read full article