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You have managed to get your website to that magical point where you have established popularity, traffic, loyalty and a community of fans. Your site contains a wealth of information, resources and services that you provide free because that’s just the kind of person you are. You may not have intended to make money from your site but now that you have an audience you realise that it’s possible, or perhaps you have to start thinking about generating income because your costs to manage the site have increased and it’s starting to hurt.

You have been diligent over the years to build up your community and wonder how to go about making some revenue by leveraging this audience (as the marketers would say, you want to monetise your site). Maybe you have some big dreams and plan to one day generate advertising income from your new web project. This is a very common plan for online business given people tend to expect information and services to be free. Advertising may be one of the only revenue generation strategies available to you.

How much traffic do I have to have to make money?

In my experience once you have about 500-1000 unique visitors per day to your site *at least* before you can start to make real money. You can make chimps change from day one from your 50 hits, but this article is targeted at those that have a larger audience, or perhaps are constructing a business plan (either real or in your head) and would like to know how to go about monetising your website. If you get more then 1000 unique visitors a day chances are you already make money from your site (if not you should be!) but my points are still relevant.

As per usual I will illustrate my article using real world examples from what I did to make money. Over about five years I managed a hobby site that started off as a very local site focusing on people in my area that played the game Magic: The Gathering. I wrote reports and did news coverage for the game. Later I expanded the site to Australia and eventually opened it to the world although it remained mostly Australian with a good chunk of Asians and New Zealanders.

Banner programs

At around the time I was getting 500 unique visitors a day I decided to start playing with advertising methods. This was before the advent of Google AdSense (more on this later) but there were many banner programs available that paid either on cost per click (CPC) or per impression basis. An impression is a banner being displayed to a user once, a click is someone clicking the banner and visiting the site being advertised.

These networks act as a middle man between business that want to advertise and people like me that have an audience and want to make some money by displaying banners. Unfortunately these programs display banners that often don’t match your audience. I tried a few but it was a short lived experiment that made me a few dollars if that.

I recommend you avoid any banner programs. If you are confused about what I am talking about regarding banner programs do a search for Burst Media to get a grasp of how they work. For small sites they just don’t make much money. For large sites there are much better ways to make money. There are people out there that make good money from these programs (I’m sure the program owners do!) but in my experience a little effort to find the right type of advertising can yield much better results.

I decided the best way to make money was to really leverage the demographics of my audience. I had a fairly focused niche, card game playing young males. I started by emailing all the local and international card game shops and asked if they were interested in exposure to my market. Instantly I had responses but I had to come up with a pricing structure first.

How much should you charge?

By this time my site was getting close to 1000 unique visitors per day, with about 300,000 impressions per month. I had done my research and I knew that advertising on websites was usually via the standard 468×60 banner so I would start with that. I also knew that many companies charged by what is called CPM or cost per 1000 impressions. Back then this was by far the most commonly used scale for pricing of web advertising and you could expect to earn anywhere from $0.10 to $10.00 CPM. I never liked this method of advertising because it didn’t guarantee any visitors. Charging by click-throughs is a far better method, but didn’t become mainstream until later. I decided that in order to keep my advertisers I had to offer value so I went for a blanket approach. I started charging a flat rate of $30 per month to have a banner on my site which offered as many impressions that my traffic could provide. I signed up my first few advertisers at this rate.

Banner management software

In order to “rotate” different banners across my site I needed some special software that would dynamically place banners. This allowed me to have more than one advertiser banner in a single location so I could optimise my adspace and make sure my audience didn’t get too bored from seeing the same banner over and over again.

For many years the term Home Business has been considered an oxymoron. Too many people didn’t understand how a business could be run from home. Some still don’t see how home based businesses can be successful.

The ability to earn a respectful income from home has never been easier. With the availability of broadband internet reaching even the most rural areas, some of the best home business ideas are beginning to surface.

Home Based Typists

Thanks to e-mail, home based typists and clerical jobs are being outsourced now more than ever. Small home based businesses are hiring freelancers who work from home. Freelancers and contract workers are beginning to form business opportunities that allow others the opportunity to work from home or start similar businesses.

Home Based Call Centers

Home based businesses don’t have to end with selling products or recruiting people to work for you. Home based call centers are on the rise, especially in the United States. Many of today’s hotlines and order lines are being answered by contractors who work from home. Some of those contractors are looking to start their own home based call center to employ others like them.

Home Based Virtual Assistants

Virtual assistants are becoming very popular among growing businesses and start-up companies. These assistants work for a fraction of the cost of full-time employees. This doesn’t mean they’re inexperienced in their field. It simply means they work when you need them, otherwise they’re working for someone else.

Home Based Counselors

Counseling is one of the best home business ideas to date. These professionals are highly educated leaders in their field of expertise and are readily available at your fingertips; simply a phone call, text message or email away. These professionals generally make themselves available to you 24 hours a day 7 days per week. They could be professionals in virtually any field in which you might require assistance: Network Administrators, Legal Advisors, Tax Advisors or Tutors, for example.

Home Based Hotline Workers

Home based hotline workers are similar to home based call center agents. These professionals are trained to assist in times of crisis and usually have real-world experience with difficult decisions their callers are facing.

These may sound like home based jobs; and they are. That’s how any great business opportunities are born. Someone takes their job expertise and creates a business that allows them to help others achieve similar goals. That’s the beauty of some of the best home business opportunities of this decade; the ability to capitalize on what you do best.

Finding your niche – the best business opportunity to fit your needs – isn’t a simple task. You have to give it a lot of thought and decide what you want to do. Research several before making your final decision which one best fits you needs and personality.

If your dream is to own your own business, you’re going to have to work hard to make that dream come true. Success isn’t achieved over night. Don’t fall for any of the scams that say it is.