This is a guest post by Sunil at ExtraMoneyBlog.com. Before I turn it over to Sunil I wanted to add my input and say that I think this is a great strategy for certain types of niche sites. I currently am monetizing one of my niche sites using the method he describes below in addition to adsense on the site. This one additional method made me approximately $400 last month on that one site. So, I fully endorse this idea! As a caveat, this method will not work on all niche sites, as some keywords just don’t make sense to do this for. However, Sunil has some great strategies that I hadn’t thought of before which I actually hope to implement in the near future. Sunil will take it from here:
Like Spencer, I too have a deep interest in niche websites. Currently I own a portfolio of 20 niche websites, some of which are monetized as much as 5 other ways aside from Google Adsense.
Four of those ways are through affiliate commissions (marketing relevant affiliate products), private advertisement revenue (vendors who pay me a fixed fee to slap an ad on my site), lead generation and Amazon store integration (adding a retail component to your niche site).
Although all of these have proved out lucrative for me, there is one specific method I want to discuss in this post that can instantly boost your niche site revenue and at the same time is just as passive and residual in nature as making money from Google Adsense. This method is the sale of your own information product on your niche website.
Selling Information Products on Your Niche Site
Because a niche site focuses on a very narrow niche or topic, you know that your audience is interested in that topic and nothing but that topic. Whereas an affiliate product may or may not be an exact match, or whether a vendor exists who provides a product or service relevant and very specific to your niche, you can customize an information product to be very specific to your niche.
I am not recommending creating a DVD set or some sort of a digital behemoth. Rather I am suggesting putting together a simple report or ebook that you can sell on your niche website. What I like about ebooks is that they are relatively easy to create and are fairly passive in nature. In fact, for some of my niche sites that are in the 100 page range, I have compiled all the pages in a chronological manner to form an ebook.
Since the quality content has already been created once, I am simply repackaging and rearranging it in a book / report format. In addition, if you write an ebook on a somewhat evergreen topic, you may never have to update it again, but yet benefit from the residual and passive sales each time someone buys it. It can’t get more passive than that.
Leveraging Big Name Platforms
What I like even better about producing and selling an information product on your niche site is that there are several platforms today that allow you to submit your ebook where it gets instant exposure to a brand new readership base who are always waiting for the next new release. I am referring to platforms such as Google Books, Amazon Kindle and Barnes and Noble nook.
Once your product is created, you simply need to distribute it through these networks at no cost to you. Each takes just a few minutes of your time. The rest of the process works on its own on a fairly automated basis while you sit back and collect your royalties as your books sell over time.
Let me open my kimono and show you how I have specifically implemented this monetization method. Below is an image of how my ebook looks when marketed on my niche website. As you can see, the ebook is always advertised on the right hand column regardless of what page of the website the reader is on. This ensures maximum exposure for my ebook to the traffic my website generates. This ebook is hosted on the ClickBank platform, therefore a fairly automated sales, fulfillment and accounting process for me.
What’s even better is that ClickBank has its own army of affiliates that are waiting for the next product to market. Since I offer a generous 75% commission on most my products, I get a fair share of sales from affiliates. You can view the full page on my Dubai Information niche site.
Once successfully on my site, I take the same ebook and submit to Google Books through the Google Partner Program, a program launched recently to compete with the Kindle platform. Here is how one of my ebooks looks on the Google Books platform.
Once submitted to Google, the next stop is Amazon Kindle. Here is how one of my ebooks looks on the Amazon Kindle platform:
Amazon keeps 70% of every sale and remits 30% to the publisher. In comparison, Google has a much higher payout . Barnes and Noble on the other hand gives roughly 40% to the publisher. Below is an image of how one of my ebooks looks with the Barnes and Noble Nook platform.
Is submitting to each platform worth your time and effort? You bet. You can just imagine the exponential growth in sales you can derive from this initiative because each platform has its own loyal reader base. There are a group of Kindle readers, then there are a group on Nook readers, and then those that prefer reading on various Android devices.
Readers: How do you feel about adding this monetization method to your niche sites? Since you already have the content, why not repackage it and create a brand new stream of income coming from several sources? Since you already have targeted traffic coming to your niche site, why not expose them to what they are looking for? After all, a $19.99 ebook sale can mean much more than hundreds of Adsense clicks. What do you think?
All the best,
Sunil owns a portfolio of profitable niche websites and is the author of “How to Go from $0 to $1,000 a month in Passive and Residual Income in Under 180 Days All in Your Spare Time“, a FREE report you can download instantly from his Extra Money Blog, where he discusses expedited wealth building through solid personal finance, entrepreneurship and internet marketing. You can read more about him here.