How to monetize a tax website?
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This was a query passed on to us. How to monetize a tax website? Here I go really fast, please add your thoughts to it.
Look at the website:
- Is it only a portfolio website belonging to a company? If yes then try to bring trust, put ads to bring more business.
- Does it have an informational part? Try and make the information really practical, allow people to ask more queries regarding every post so that it can made really help for the readers. Information can spread, information can make your website talkable. At the current stage, I feel there is a lot of information already on the web, now one need to arrange the information for the right segment. Information can bring related ads to your site at really high cost, it can also bring affiliate to bring more money in terms of lead or conversations (Cost per Action, this can be really high)
- Does it have a community aspect to it? Great opportunity here. Building a community is an art but a community is worth a lifetime investment. Community has a bargaining power and also community can do a lot of your work at almost no cost, we call it crowdsourcing.
- Does it have a web app, Saas format? It surely can bring in a lot of regular money.
Now the real question – How to monetize a tax website?
- Ads: Obvious one, if you have enough related traffic you can get good ads for good money. Adsense is very cheap, there are businesses that are selling their ads for a visibility, links and sales. You can produce videos and can have video skin ads. There are plenty of options for ads and plenty of platforms that can be used to put ads on your website.
- Leads: You can also collect leads and sell it at a higher price. There are many who does it. Even you can place an intelligent layer in-between. Right leads going to right vendors, example, personal tax going to vendor A and corporate tax going to Vendor B.
- Writing reviews: Once you have an established website, there are many who will like to buy a review from your site.
- Sending email to community: Sites charge anything between INR 1000 to INR 4,00,000 for one email that they send it to their community members. So a good community and a good newsletter can be money minting business.
- Integrating with portals and other services When you have a website with good visitors and community, you can integrate it with other services. Example, you can integrate with a tax planning application and offer discounts to your community members. Since you have a bulk buying bargaining power, you can get things at really lower prices.
- Survey:
- Premium memberships: There can be some content or section that can only be available to paid members. It can bring some good money.
- There are more and more options, one can keep digging deeper into it to get more revenue sources.
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