How to Get a Standard Rate for a WordPress Website
People are constantly looking for ways to save money. For website owners, it’s vital to find a way to generate revenue while cutting corners. One way is to experiment with different pricing models to see what works best for your business.
In this article, we’ll discuss three ways to get a standard rate for a wordpress website – along with the pros and cons of each method. By understanding what makes up a standard rate for a wordpress website, you can decide which pricing strategy to follow. Let’s get started.
Run A Pay Per Click Campaign
If you’ve ever sold ads on your site, you know how lucrative pay per click (PPC) marketing can be. Essentially, you pay for each click on an ad, but you don’t necessarily have to make a sale to benefit. You can use the AdWords tool to get started with PPC management, which is easy to use and has a free version. Once you’ve set up your account, you can start creating ads and performing keyword searches to find potential customers. You can use the AdWords dashboard to analyze your results and see how your ads performed. Not only that, but you can also set up automated notifications so you’ll know when people have clicked on your ads. Once you’ve gotten a feel for PPC, you can branch out and try other marketing avenues like social media or SEO to grow your business.
Use An Affiliate Marketing Program
There are plenty of affiliate marketing programs to choose from when you’re looking to earn money from a marketing standpoint. You’ll find lots of reputable programs out there, like Amazon Associates and Blue Planet Labs that can be used to promote products on your site. With affiliate marketing, you don’t necessarily have to rely on ads to make a profit. Instead, you get points for people who click on or buy a product that’s promoted on your site. Some good examples of products that could be promoted are:
- digital cameras
- smart watches
- mobiles
- household appliances
- travel gear
- office equipment
- cosmetic items
- electronics
- computers
When someone clicks on an affiliate link and makes a purchase, you’ll be notified and given a small percentage of the sale as a commission. You can use this revenue to fund your lifestyle or invest in future growth.
Offer A Free Trial Of Your Product
One way to make money with a wordpress website is to offer a free trial of your product. When someone clicks on this free trial offer and makes a purchase, you’ll be notified and given a small percentage of the sale as a commission. While this isn’t a traditional route for making money online, it’s a tactic that works well for certain businesses.
For example, if you sell makeup and you want to offer a free trial of your product, you could create a page with a link to your site and a countdown to the end of the trial. When someone clicks on the link and makes a purchase, you’ll earn a modest commission. You can use this tactic to get potential customers to try your product without the pressure of having to sell them something. It’s a win-win for both parties. The person gets what they want (the trial,) and you get what you want (the sale.)
Use WordPress Events To Your Advantage
WordPress events are basically a way to promote certain actions that happen on your site. For example, if you’re an online store and you have an event where users can come together to sell your product, you could use this event to your advantage and earn some extra money. When someone participates in an event on your site, you’ll usually be given a small commission for each product that’s sold during that time. Some good examples of events that could be used to generate revenue are:
- product launches
- anniversaries
- birthdays
- christmas events
- socials events
The advantages of using events for revenue generation are that you don’t necessarily need to rely on traditional advertising methods and it’s a low-risk way to make money. The disadvantages are that you have to start and stop the events manually, which can be a lot of work. Additionally, not all events are created equal. You’ll have to think about which ones would be most beneficial to your business.
Follow The Freemarketing Approach
One way to make money with a wordpress website is to follow the Freemarketing approach. Essentially, this entails getting featured on big blogs or websites that have a large audience. When your product is featured on a big site, you’ll usually be given a small percentage of the profit as a commission. Some good examples of sites that could be used to promote your product are:
- Medium
- ShoeBuyer
- AvaAuctions
- BuzzFeed
- TikTok
- HuffPost
- WP Engine
- WooCommerce
- Shopify
The advantages of this approach are that it’s easy to get started with and there are plenty of places you can promote your product. The disadvantages are that you have to find the right blogs or websites to promote your product and you don’t necessarily have to be able to generate any revenue from them. Essentially, you’re just giving away free content for people to discover your product. If that’s all you do, you might not have to worry about generating revenue from your site. However, if you plan to grow your business, this approach won’t provide you with enough funds to cover your everyday expenses. You’ll either have to find alternative ways to make money or develop more ways to generate revenue.
Try Another Pricing Model
Whatever pricing model you choose, you’ll need to find a way to generate revenue and grow your business. If you’ve explored the above methods and want to find another way to make money with a wordpress website, try experimenting with different pricing models. For example, you could try a freemium model or a discounted pricing model. Some good examples of these models are:
- BuzzFeed Game Ads
- Shopify Affiliate Marketing
- WooCommerce Affiliate Marketing
- Jeeves, an automated digital assistant
The advantages of a freemium model are that you don’t necessarily need to rely on ads or commissions to make money. The disadvantages are that you’ll have to figure out how to convey the value of your product to potential customers without raising the price too much. Developing a freemium model for your product can be costly and time-consuming. It’s also not a guaranteed revenue stream, especially if you want to maintain a traditional pricing structure. For example, if you have a paid version of your product and you want to introduce a new free version, you’ll have to come up with a way to convince people to try your product for free. That’s a lot of pressure.
Discounted pricing models like Batch Processing and Quick Pay are also viable options for generating revenue. Some good examples of these models are:
- Shopify Batch Processing
- WooCommerce Batch Processing
- Jeeves, an automated digital assistant
The advantages of a discounted pricing model are that you don’t necessarily have to rely on ads or commissions to make money. The disadvantages are that you’ll have to find a way to market your product and convince people to try it without using overly high discounts or offering substantial freebies. Developing a discounted pricing structure for your product can be costly and time-consuming. It’s also not a guaranteed revenue stream, especially if you want to maintain a traditional pricing structure. For example, if you have a paid version of your product and you want to introduce a new free version, you’ll have to come up with a way to convince people to try your product for free. That’s a lot of pressure.