It’s called “lead generation” and every time a financial site recommends a bank, credit card, insurance company or most financial advice, those sites receive a referral fee from the company they are recommending.
They also profit from an advertising core model in most cases.
Financial statements reveal that most of their income is derived from advertisements and referrals. But do these sites receive a percentage of the total sale or a fixed fee for each referral?
The financial niche is a growing one as more and more people are constantly seeking advice these days to manage their finances.
These sites’ owners are making positive impacts on their readers by assisting them in making better and more informed financial decisions.
However, financial site owners don’t always make money from the site. It takes months or years of persistence to start making a considerable amount of money from financial sites.
If you’re interested in building a financial site and you’re wondering how these platforms make their money, this detailed article will point out some of the ways money is made by financial bloggers out there.
This is one of the top ways many financial bloggers make money off their site.
How does this happen? Putting an ad on their blogs and then making some money every time a visitor visits one of the webpages.
The most popular form of advertising is AdSense, and it works with different niches and blogs.
All that is required for bloggers is to sign up with Google AdSense and then copy the codes made available to their blogs; this allows financial site owners to make some money every time someone visits their site and clicks on an ad.
As the money you make on this site increases, Google updates bloggers to ads that pay more.
Exploring Affiliate Marketing
Another way financial sites make their money is by partnering with different brands to mention their products in articles posted on the site.
This is called affiliate marketing and is achievable when you have gotten a traffic level to your site.
This earning method has been around for a very long time and isn’t going anywhere any time soon.
Financial sites make money through this medium by adding affiliate links on their platform and then earning some payment every time they click on one of the links.
To make money through this medium, it is best you look for a brand that will benefit your reader and then partner with them.
Many websites make their income from affiliate sales alone, so this is a top option for many financial websites.
By Selling Financial Products
While there are AdSense and affiliate marketing, financial sites make a lot of money by selling financial products.
How do they go about this? This is by creating online courses on finances or eBooks to help with finances; any product you know will be beneficial to your readers and visitors of your page.
It will help you diversify your income from the site rather than depending on the unpredictable income that comes with advertising.
If the products you are selling are unique, readers will be willing to pay for it, and you can even choose to affiliate with other financial bloggers to drive traffic to you.
Take Sponsored Post
When a company or brand reaches out to you and is willing to pay you to write on a specific topic on your platform, that’s a sponsored post.
Financial sites which are well-established on the internet make much money from a sponsored post.
Marketers and brands are willing to do this because they hope the blog owners will add a link to their content, which links back to their platform.
If you have a large reading audience, a brand may want to sponsor a post on your site to expose their product and services to your audience.
The money made from sponsored posts depends on how large your audience is and the niche you’re targeting.
By Getting Readers to Subscribe
For many financial sites, this is the best way of making money on their sites.
However, to successfully achieve this, a blogger needs to ensure that users get the best value from the platform and are willing to pay for the content they get from the site.
The best way to achieve this is by providing unique content on the platform that readers cannot freely get from other platforms.
The fee can be divided into monthly or annually; some platforms offer free content for readers and then require them to pay for access to more premium content.
You can implement this strategy in your financial site to make money.
Search Engine Optimization
Of course, we were going to talk about this.
This is the most common way of making money on your site, and that is by getting your financial site optimized on search engines in order to drive traffic to your site.
Many factors work into getting your website optimized like unique content, images and videos, internal and external linking, meta description, and several other factors.
When your website is optimized, contents from your site pop up when people search-related topics, and you get to make money from visits on your site.
This is just connected to search engine optimization.
To get content on your website optimized on search engines, you need to write on topics frequently searched.
There are several sites to check out keywords to write on and then properly infuse these keywords into your content without overdoing it as that might attract Google’s punishment.
If your financial site is filled with contents that are regularly being searched on the internet, then more readers are bound to visit your site.
Another method of making money by financial sites is by writing for other websites as well.
When you’ve fully established your platform, you can also write for upcoming websites that don’t know how to go about this.
This is a way to make income on your financial site as you can direct potential clients to check out your writing style on your page.
Your financial site can serve as your portfolio when you source for jobs, and freelance writing can help you earn a steady income while working flexible hours.