I get this question a lot. People always seem to wonder how people make money from websites. Most people just assume it’s advertising. But in reality, advertising (google adsense) may be one of the hardest ways to make money. You’ve got to have A LOT of traffic to actually make a living off of a website that way. (You only get a couple of cents per click!) It’s good if you want to make a couple of extra bucks here or there, but unless you have 100,000+ visitors, it’s not really an option to turn it into a business.
There are a number of ways that I’m planning on monetizing the site, but the main option for me at the moment is to make digital products. This will initially come in the form of e-books. And eventually, I’d like to package them into a smartphone app (with in-app upgrades). I’d also like to expand to Korean language products. This is actually a lot of hard work, and it takes quite a bit of time to create professional quality products. But I also believe the reward is the greatest (no shipping/printing/production costs). I want to make it affordable enough so that everyone can make use of these guides. I believe in making it as cheap as possible, as long as I am fairly rewarded
My target audience is people visiting Korea or living in Korea. Here are a few e-books that I’m planning on writing:
- Insiders Guide to Myeongdong / Itaewon / Hongdae / etc.
- Ultimate Guide to Living in Korea (for newcomers)
- Cultural Guide for Exchange Students in Korea
Would you buy these for $5 a pop? If not, how much would you pay? What other kinds of e-books would you consider buying?
I spilled my guts on this one folks (as always :P). If you have any suggestions, help a brother out!