Adding Additional Revenue Streams to Your Website

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One thing most brokers are keen to do is turn their websites from a cost center into a profit center.  Now while most will feel that the only way to promote and drive traffic to their website is by pushing their own products, there could be a number of different ways to add third party revenue streams to a website to make it more profitable.

In this brief guide I want to show you

  • Where to find products
  • How to promote them
  • Some best practice ideas

Where to find products

Finding products to promote on your website can be quick and easy.  The first port of call would be to visit some affiliate networks.  Basically networks that offer other sites the ability to sell and promote products in return for a commission on sales. There are some huge brand name products out there you can be offering to your site visitors or existing customers.

Visit and signup to sites such as

http://www.cj.com/

http://www.shareasale.com

These two sites will give you more than enough ideas for additional products.  Please note: Don’t sign up to any affiliate network that wants to charge you a fee to access.

Why not ask existing partners if they have other products you can promote to your base?  It is amazing how many times advisors purely focus on working with a partner on a single product when they have a few others that a complementary offering. Maybe they have launched a new product or service you didn’t hear about that could be ideal for your customers.

If you are pushing local business, why not look to offer local relevant businesses offers?  Do you attend chamber meetings or work with companies in your community – why not get together and create a cross promotional program?

I hope you can see plenty of opportunity to create new revenue streams easily. But now you have some, how do you take advantage of them?

How to promote products

There are a number of different ways to add new revenues streams without actually detracting from your core business activities – which for some will be key.

If this is you, then think about ways to add links to these other services and products at the back end of your existing processes.  So look at:

  • Enquiry Confirmation  / Thank You Pages
  • Enquiry Confirmation emails
  • Newsletters

If you feel you want to be a bit more aggressive in promoting products, then maybe add a new site section with a number of related pages highlighting each product or services.

Maybe even look to create and send out emails highlighting these new products and services, and build this into your marketing plan.

Look to add content on your company blog or share links on your social media.  Just make sure you disclose the relationship you have.  Which bring us on to best practice.

Best practice

At this point, I hope you can see the potential and are thinking about adding some new revenue options to your site. But before you do, here are some pointers to help you maximize the opportunity but also make sure you are not damaging your website.

  1. Keep revenue elements relevant to your audience.  There is no point a mortgage broker advertising dog food on his website.   It just doesn’t make sense.  So what would?  How about removals companies, home insurance offers, painters and decorators.  Keep it relevant!
  2. Integrate the offers. Where possible add the promotions in such a way that they are part of the site.  Big pages of flashing banners is not a way to go. That kind of flea market page is not going to do you any favors.  If possible, work with a number of selected partners and see what options there are to have blended creative. Or, for some services, maybe even use your own site designs and layouts to build promotions.  Talk to your web team about iframes.
  3. Recommend and provide content.  This follows on from the last one.  Make sure all your offers are recommended and make sure you have used them. Write about the product in your own words and use that to drive sales. Most revenue options will provide content, but that content could be on 50 - 1000 other sites. Take some time to get this done as this will help no end and set you apart
  4. Secure discounts, vouchers, or extra benefits. Where possible try to secure a unique benefit.  This not only helps you to promote but will also give the potential buyer a reason to buy via you.    This is a great way to add value and can reinforce your own brand value.  It also sets you apart from other sites.

I hope this has given you some food for thought and you will take some time to look at ways of maximizing the revenue potential of your website.

About the Author

Jason Hulott is Director of SpeedieConsulting, the internet marketing specialists.  Visit the site now for more useful tips and articles aimed at Insurance and Finance Brokers who wish to use the Internet to take control of their revenue generation online.  Connect with him on Facebook or Twitter.

Topics: advisor websites, brokers, Business Growth, revenue streams