When most people decide to build a WordPress website, hopefully they already have a website business model in mind. There are the SEO business models I mentioned in an earlier article, but now we are choosing the basis for our WordPress website. This can be the first step when you are creating a WordPress website from scratch and this crucial step is often neglected.
People often say “I am starting a website”, and my next question would be, “what type of website?” It is not clear enough to simply state say that you are starting a website when there are so many WordPress website business models available. My next question would be, “How do you plan to make money?”
To tell the truth, not many WordPress website builders do you have a website business model in mind. This would definitely be contributing to the millions of websites that fail every year.
#1. Website business model – Blogging
You can call this whatever you like. It can be blogging or it can be building a WordPress website and building a community. Either way it probably means that you are going to make money from your blog by either advertising, the money is in the list model, or affiliate marketing. Of course you can do all three as blogging is very general and you can have your finger in lots of pies.
If you choose this website business model, the jobs that you take on will be enormous. I am a full time blogger and I recently shared my daily blogging routine which shows nothing but hard work. Don’t get me wrong though, the rewards are enormous.
#2. Business model – Affiliate marketing
Affiliate marketing is simply when you sell someone else’s product and earn a commission. This method can be blended into many different business models. Sometimes you do not even have to have a website as you can choose to simply market affiliate links or affiliate websites. The problem with not creating a website means that you are not building any virtual real estate that might become valuable in the future.
I prefer to blend my affiliate marketing into the blogging business model. Therefore you have a backbone of trust and loyalty from your blogging community.
#3. Business model – Information product
Creating your own information product is a great way to make money. It is even better when you have a home base for your information product as people say that it is better to have a website for each product that you make giving it a unique identity. Of course if you have a main website, there would always be a few different information products that would fit nicely into it.
This is probably the easiest website business model that anyone can get into. Even if you do not know about a certain subject, you can research it on the Internet and create your own information product. Some people even have the product material right in front of their faces. If you think about it, every piece of content that you create can be turned into an information product. I dare say I have produced millions of dollars worth of information to this day. It is up to you on how you use it.
A great way to get into this business model, is to start by creating small reports in PDF file format, and give them away to your website visitors. This can also be a viral marketing strategy to bring you traffic and sales.
#4. Business model – E-commerce store
Building an e-commerce store can involve a number of different business models. For example you could use drop shipping, affiliate marketing, or physical products. Each of these models involve a different job requirement. For example if you were dealing with actual physical products, you would probably be dealing with customer service and also postage of the product.
Using a WordPress website for an e-commerce store is very common nowadays. WordPress has basically taken over everything and you simply install WordPress and then install a theme that will perform the functions of your e-commerce store. For example Elegant themes has one of the best e-commerce WordPress themes available. Creating an intricate e-commerce store is now available to anyone at the push of a button. It no longer cost thousands of dollars to get a fantastic e-commerce website designed.
#5. Business model – Software and plug-ins
Back in the old days software manufacturers used to sell only physical products. However now that Internet speeds have greatly improved, the sales of software have gone through the roof. People can be on their computer and decide to buy a piece of software, and have it on their computer within minutes.
We also have massive sales in WordPress plug-ins and now smart phone apps, both iPhone and android. ” The times, they are a changing”.
As with any information product, you develop the software once, and sell it over and over again. The only difference is, most software and apps require updates to keep up with technology. For example a WordPress plug-in developer has to constantly keep up with the actual WordPress updates. They have to ensure that their plug-in works with the latest release.
#6. Business model – Service based
This website business model is growing fast on the Internet, especially in the search engine optimization sector. This is because many people are building websites and need help with their search engine optimization. This is just one example of a service-based website. You can get articles written, you can get websites built, you can enroll in an educational course, you can even pay for likes on your Facebook page. The services available are endless and new ones are always popping up every day.
Again many people offer a service incorporated into their blogging business model. I am not too keen to do this, as every time I offer a service, I neglect some other part of my business.
Maybe you have an established bricks and mortar business and are looking to provide your service to more customers in your local area. Even a Plumber, Carpenter, Accountant, can gain more business from a website, especially if the website uses Google places optimization. That way you will come up at the top of the search engines as local positions in the search engines are getting filled fast.
Website business model of the future
When we all started building websites we had no idea what path we were going down. In fact we still do not know and cannot predict which website business models will survive for the future.
Can you think of a new website business model for the future?