This is absolutely one of the most important considerations when launching a niche site. If you can’t answer the question, “How will this site make me money?” you’re in trouble. Having great content is one thing, but if it doesn’t translate into advertising revenue, commissions, or sales of your own product, you’re wasting your time.
There are a lot of ways to monetize a site, and not all of them are practical or even necessary. There are sites that make money 20 different ways and earn less than sites that only have one way of monetizing traffic. Based on your niche, it’s up to you to figure out which method is most effective. Sometimes it’s obvious – other times, it requires a bit of trial and error, with constant tweaks until you find that perfect recipe for success.
I wasn’t originally planning on writing about my monetization strategy as my 2nd update for the niche site duel, however I realized (via the comments on my niche site duel introduction post) that I made a huge mistake regarding my plans to monetize my niche site. I’ll discuss it more below.