Within enough time of operating a website or regularly blogging you will see the fruits of your labor as traffic and your audience following begins to grow. Once you have the attention of your niche, you may also want to begin capitalizing on the popularity.
Advertising products & services on your domain has always been on clear way to earn additional income. Paid social updates and sponsorship have become quite common in these last few years, too.
There are plenty of reasons why you may want to accept these offers but equally so why you wouldnâ€™t.
As someone that has been running multiple websites over the years I would like to give you my two cents about sponsorship, paid social, and advertising opportunitiesâ€¦
Pro: A quick boost in income
There are multiple ways to go about soliciting others so they may be featured on your domain. Through these venues you will find plenty of opportunities to place a sponsored blog post, banner, or share content with your audience for a price. Sign up is quick and easy with these platforms and so is the same with earning money through them which makes for a quick buck.
Con: Tarnishing the reputation/brand
A downside to accepting outside offers is that many individuals do it blindly because all they can see are the dollar signs. The bloggers and site owners are quick to accept offers and place them on the site without thorough research of the company. When it turns out the company has a bad reputation that feeling naturally passes to your brand. Once a brand (and reputation) has been tarnished you begin to lose trust and that makes it very difficult to sell others on products/services at a later time.
Pro: Itâ€™s attractive to buyers
If you were to exit your niche and wanted to make one last bit of funds, a great way to do this is by selling your website. However, most interested buyers want to see that your website is making money because it is an investment. Showing your income reports will create this attraction. Having a money-making website listed on sites like Flippa is just one of the smart ways to cash in on your efforts (there are more ways of doing so outside of just income reports, you can learn the other methods on sources like Hostgator blog).
Paid can take dramatic swings from positive to negative. There are times when you may be offered a great deal of money for your involvement while other times it hits a new low. The market dictates the prices so, at times, paid offers arenâ€™t always the most reliable if you are counting on them as a major source of income. Likewise, a business/individual you do business with may suddenly pull out of the agreement which leaves you bare handed.
Pro: Build relationships
Who you work with in your niche matters greatly because itâ€™s through your networking that you are able to gain smart feedback to improve your efforts, opportunities to work on projects together, and build a better brand by associating with influencers. Paid offers are one such way to open the doors to these opportunities. Once a relationship has been established it may go beyond the need for PR and turn into something beneficial to both parties for the long-term.
Con: Bad link neighborhoods
Domain squatting doesnâ€™t just happen when these companies (or individuals) think of a great name and snag it up before others can use it. Squatting also happens if a domain has expired and some of these companies/individuals may have malicious intent. There are times when a domain is snagged up and reworked into a site that could have malware. The link is now pointing people to a malicious site which will not only set the chance that your site shows as malware to search engines but also that youâ€™re sending your audience to these bad link neighborhoods.
In all, much of it will come down to whether you are willing to trade short-term versus long-term opportunities. Yes, you can make a quick buck by accepting paid offers but at the same time you may alienate your audience. Likewise, pairing paid with your efforts could be what you need to further your goals and reach new levels of traffic, followers, and engagement.
Take these pros and cons into consideration next time you are presented with an offer or find yourself considering one of the many platforms to cash in on your work. Always use your best judgement.