Transform Your eCommerce Website Into Multiple Revenue Stream

1. Content Subscription

If you have an active blog on your eCommerce website, it’s time to take advantage of the content subscription strategy.

  • Be original: There’s no use in creating content that’s no different from what’s already on the internet. Authentic content helps build trust with your audience and boost your content positioning on the search engines’ results pages.
  • Optimize for search engines: Apart from making your content authentic, you are supposed to research keywords for your piece of writing thoroughly. It helps search engines grasp the overall idea of your content and match it with users’ search intent.
  • Consider your audience: Your content needs to be informative for your target readers. Taking their pain points into consideration and providing answers to their problems will assist you to provide more relevant content. On top of that, determining your audience demographics will properly shape your writing style, tone, and voice.
  • Be authoritative: It’s about showing that you’re an expert in your field. Improving authority can be done with link building and shareable content. When many websites refer to your content as a trusted resource, it will reinforce your content’s reliability.

2. CPC Advertising

Cost Per Click advertising is a digital advertising model that allows site owners to earn some money every time an ad gets a click. Thus, a site owner’s revenue depends highly on the ad’s Click-Through Rate.

3. CPM Advertising

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4. Affiliate Marketing

Affiliate marketing refers to a business partnership between a company and its affiliate marketers. This program lets affiliate partners earn commissions for every customer they bring through their affiliate links.

5. Featured Listings

Vendors of the same niches compete against each other to get their products to stand out. This situation opens up an opportunity for eCommerce website owners to offer featured listings.

  • Sell high-graded products.
  • Have beautiful photographs.
  • Hold a reputable brand image.
  • Be transparent with its business operations and partners.

6. Sponsored Emails

Sponsored emails are emails that a company sends on behalf of its sponsors. This monetization model allows business owners to receive payments from their collaborators, allowing them to use the business owners’ email list for email marketing.

  • Keep your login credentials to yourself: Giving your email access to third parties isn’t the best idea. You don’t know if your sponsors conduct the same level of security precautions as you. If hackers get hold of your credentials, you’ll risk your company’s reputation.
  • Review the email content: Before sending out the emails to your subscribers, make sure there are no typos or fraudulent messages on them. If needed, you can also tweak the wording to improve the readability.
  • Make an announcement: Telling your email recipients about the upcoming sponsorship emails prevents misunderstanding. For this, make sure that the unsubscribe option is accessible if some of them don’t want to be involved in the new program.

7. Strategic Partnerships

Strategic partnerships are about building business relationships to achieve mutual success. For example, a business owner may have suppliers or brokers as strategic partners. Customers can also be strategic partners, as they can become brand ambassadors.

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8. Service Offers

The whole idea of this strategy is about offering products for free and charging a specified amount for additional services.

9. Freemium

Freemium originates from the words “free” and “premium.” It’s a tiered-pricing strategy where the basic product tie belongs in the free category. The more advanced ones fall into the premium.

10. Performance Improvement

On top of everything, it’s recommended to run a regular performance check on your eCommerce website. This is to ensure that your site is always in a healthy state for monetization.

  • Page loading time: Website speed is among Google’s ranking factors. An excellent speed also helps reduce your bounce rate. To improve it, start by running a speed test and working on the factors that slow your website down. Two of the excellent website speed test tools include GTmetrix and Pingdom.
  • Mobile responsiveness: Using a fluid theme helps your site adjust its layout to the screen it’s displayed on. Therefore, it helps improve readability and makes sure your potential customers don’t miss any call-to-action buttons.
  • Cart abandonment rates: One of the most effective approaches to combat cart abandonment is to improve the checkout flow. For that, making the process simple and providing multiple payment options can help.
  • Content quality: As some of the above monetization strategies include blogging, it’s recommended to review how your content performs over time. Also, don’t forget to update your articles every once in a while to keep them up to date.

Conclusion

eCommerce as a source of multiple revenue streams is not just a tall tale. There are many options you can choose to generate more income from it. Throughout this article, you’ve learned 10 strategies to help you transform your eCommerce website into multiple revenue streams.

  • Content subscription: Providing your readers with high-quality content improves the chances of getting them subscribed to receive premium content.
  • CPC advertising: Lets you earn money for each click your web ad gets.
  • CPM advertising: Another web advertising model that lets you receive payouts for every 1,000 web ad impressions.
  • Affiliate marketing: Partner with a third-party company and get a unique affiliate link. By including the link in your articles, you’ll earn commissions for each customer you bring through your link.
  • Featured listings: Offering this functionality brings many benefits, as vendors compete against each other to get their products to stand out.
  • Sponsored emails: It’s about allowing email sponsorships in exchange for promotional activities through your newsletter.
  • Strategic partnerships: By joining forces with another company, adding value to each other’s products may help boost your income.
  • Service offers: This model encourages business owners to give away their products for free while charging for the services that come with them.
  • Freemium: This model can be considered as giving free trials without time limitations. It’s a great introductory offer to persuade customers to buy premium products and services.
  • Performance improvement: Regularly checking how your website performs helps find out its health. The better it carries out users’ requests, the higher your chance to get third-party companies to file business partnership proposals.

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