Money making site
If you're wondering how you can use your own site to make money, then this tutorial will give you some ideas.
The process by which you turn a regular site into a money making site is known as monetization. It is not an easy process, there are so many factors that need to be considered.
When to monetize
Some people consider monetization before a site goes live, others decide to wait a little to see if it builds traffic overtime, while others decide not to do it until the site reaches some kind of special point (example: 100 unique visitors a day).
If you're going to think about monetizing a site before it goes live make sure it has good prospects. You wouldn't want to set up a site and when launch day comes you have everything laid out perfectly (content + ads) but you end up getting no more than 10 visitors a day.
Monetization is highly theoretical until you see how well you can monetize your site when you have actual traffic. Begin the monetization process when you're getting a steady flow of traffic. You may want to wait for that special point first (see above), but as long as traffic is consistently there and/or constantly increasing, you should monetize.
This way you can see how your visitors are responding to your monetization techniques. You will know what works and what doesn't by actually testing it, and then you can tweak things accordingly for higher profit as opposed to assuming how well your monetization scheme is going to work before launching your site.
Ads from who?
A big question to ask yourself when deciding to monetize your site is what kind of ads should appear and from who?
Not recommended. Banner ads are annoying and most people don't click on them. In fact, some of your visitors may be turned away from your site because of banner ads. If you feel that they will work on your site to get the results you need then go for it, but be cautious.
A popular alternative to banner ads. Text ads are alot less annoying and have a higher chance of being clicked by a visitor. You can make text ads blend in easily with the other text on your site.
Text ad networks:
Sell ad space
Instead of banner or text ads from other companies, why not sell your own ad space? You won't be dependent on anyone else and you won't have to share the profits (with banner and text ads you have to share part of the profit with the advertising network).
NOTE: With banner/text ads, many networks will accept you no matter what your traffic is, while with selling your own ad space, some of the companies you try to sell ad space to will have a traffic minimum requirement.
If you sell your own ad space, it's a big responsibility. You will have to negotiate with companies, inform them of traffic trends, set prices, follow up, and more.
Have you ever gone to a site that has ads all over it? Did you feel that it was too cluttered? Don't let this happen to your site! Ads have the potential to make you, the site owner, lots of money but they also have the potential to turn your visitors away. If you're going to have ads on your site make sure they are not too prominent.
The formula is to have a good balance between ads and content - make sure your ads blend in well with the rest of the page and make sure your content is dominant over the ads on the page (visitors should be concentrating more on content than on ads, but ads should make enough of a presence to be noticeable).
Monitor how well your visitors are responding to the ads, see how you can do things better, try to improve the click-through rate. While it is not an easy task, if you pay attention and remain persistent, over time you will increase your profits.
Making more sites
Once you gain some experience with generating a profit from a website, why not create another site or two and repeat the same process?
If you have a successful formula, follow the same path. It worked once and it should work again. This is especially true if future sites you make are in the same industry/revolve around the same topic. But if this is not the case then things might be a little different as the visitors you get will be a little different - different needs, tastes, and habits which means they will probably react differently to ads.
If earnings are noticeably different between your first site and future sites then follow the same process outlined in the "Increasing Profit" section above.