Revenue streams are like foundations of a business model canvas, wherein it reveals all the earnings of businesses and methods by which how it is earned.
It also has the capacity to clarify and determine the pricing mechanism when a business starts to generate income. In short, revenue streams are all about knowing how the income of a certain company is being categorized.
Here are some solid revenue streams that bloggers and even businesses must consider.
Affiliate Marketing. Instead of making affiliate marketing only as secondary or the most common way for bloggers to monetize their sites, this should be the primary. In order for you to make affiliate marketing, a lucrative income stream will certainly demand you tons of your effort, time, and care.
Placing Ads on the Site. Google Adsense is an example. It is an advertising program that allows publishers to attach a small amount of HTML to their sites and all the targeted and relevant content of that site will be revealed. It is the easiest way for bloggers and webmasters to generate income using their sites.
Sponsored Content. This is a piece of editorial content placed on websites or in a publication having the intention to disseminate information, entertainment, as well to influence the perceptions of the majority. Such content can generate great opportunity for businesses which likewise enhance your expertise, and educate audiences about your product by positively influencing their behavior.
Sell your Own Product. A perfect example of this would be selling a digital One of the advantages of selling digital products like e-Books is that you no longer need to pay for manufacturing or distribution costs. Bloggers can virtually generate profit by selling digital products. Hence, many people are creating their own digital products and sell them to the buyer online.
Sell Ad Space. It is one way on how to make money with a media website. It is important to remember that when you are selling advertisements online, and in order for you to get the full potential client, you have to know how they offer all the key benefits of media.
Sell Services. It is a way of knowing how to understand and optimize customer needs. Establishing a successful market output, and providing the right market performance for customers, demands a powerful organization.
Speaking Services. This one may not apply to most bloggers. Conferences, seminars, and events usually hire public speakers, if this revenue suits you, then you better start practicing.
Email List and Newsletter. Social networking sites create a less effective sale and communication channel as compared to email That is because your email list can nurture the leads and acquire a lot of sales. When you are running a business, the newsletter is very important because it maintains contact with the customers.
Since these are different revenue streams, it is, therefore, appropriate to claim that having multiple revenue streams would mean you have something more to manage. However, it will keep you away from panicking if one area of your revenue slows down.