TIME TO DIVERSIFY
I've realised that just having my main money site as my sole source of income is stupid on two counts:
1. If it goes down, so do I
2. It effects the choices I make for how to run the site
So, to elimiante this issue, I'm diversifying so that I have multiple income streams coming in from 3 major sites:
1. Review website
About 18 months ago, a friend of mine who started a review website 5 years ago decided that he wanted to get rid of it. It was getting roughly 1500 visitors a month with minimal SEO and almost no work put into it (his biggest earning month was $1000).
We're good mates and he knew I'd look after it so he basically gave it to me.
Since then, I've done nothing with it, not even change the affiliate links, and he's kept making money from it. It's time to get this up and running as there's only one other site in this niche and it's making a killing.
SITE SETUP: One of the big things that was stopping me from going ahead with this is the amount of physical work that needs to be put in to getting the reviews up on the site. There's currently 250 on the site that will need to be transferred over to the new website but they only cover about 15 products. There 25 key products that I need to add to the site before launch and another 100 I would like to have up in the next few months. If I'm adding at least 5 reviews for each, that's a lot of work.
To get around this, I've got three guys on board to help me with the transfer. I've promised all three that I'll teach them everything I know about making money online in return for them helping adding the content.
One guy will stay on once all the content is created to manage the site and make sure it's updated and get 20% of all profits.
CONTENT PLAN: The guy who's staying on will continue to create new reviews to keep the site fresh and updated. Users will also be able to submit their own reviews (this is the long term goal).
DESIGN: I've just hired a designer through oDesk and I'm writing up the design brief today. I'm expecting the site to be up in the next month.
MONETISATION: Affiliate links. Accounts are all set up and ready to be uploaded.
SEO: I'm doing very niche specific, white-side-of-grey hat SEO on the site with mostly blog comments, forum links, social bookmarks, press releases and social signals. If that's not getting me high enough, then I'll throw some homepage blog posts at it.
ADDITIONAL TRAFFIC: I have another site in this niche (more of an information site) that I can use to direct traffic at this site so I'll be making use of that as well.
LONG TERM PLAN: Become the number 1 resource in the niche for high quality reviews and information. Have this guy run it or a 20% profit share.
2. Teaching Website
A friend of mine purchased a site on the front page of an education niche and pushed it to number 1. It was making roughly $20k per month before it got a manual penalty and dropped rankings for all major KWs. He's since gotten out of the niche and so I'm pushing into it.
SETUP: The site is already set up and running. There's 26 pages of high quality content (articles range from between 500 and 6k words each of well written English).
CONTENT PLAN: I've got a guy writing 1 article a week of high quality, relevant content and uploading it to the site for $15. This guy knows the niche inside out and writes very well (he's my guest blog post writer).
DESIGN: The site currently has a premium WP theme on it and look good. I recently got a logo designed by the Fiver guy linked above and that really brought the site together.
SEO: This site has the most impressive SEO'd link profile of any site I have. It has niche relevant, contextual, high PR links (2 x PR7, 1 PR6, 1 PR5, and lots of PR4's and PR3's), and then some directory links to give it a big anchor text variation.
I'm currently only building guest blog posts to it from niche relevant sites and then throwing some high powered links at it to push it up.
I'm taking this one slowly and not just rushing in with huge quantities of low quality because I want this site to outlast any algorithm changes.
It's currently sitting on page 2 for on 30k exact match KW and page 3 for an 18k and 50k exact match term. These are only bringing in around 3 - 5 visitors per day but I know there's a lot more on offer when I hit page 1 and the long tails start to kick in.
ADDITIONAL TRAFFIC: Most guest blog posts are bringing in around 20 or 30 visitors when they're on the front page of their respective sites and so I'm going to continue with that.
LONG TERM PLAN: Take #1 for the three major KW's and laugh all the way to the bank.
3. Entertainment Website
Last year, I bought a PR6 dropped domain for $600 with the intent of just using it in a blog network. Once I reinstalled it, I found that it was getting between 80 - 130 visitors per day from organic search rankings and referral traffic.
When I did a bit more investigation, I found that it used to be the home page for a major tourist attraction in Asia and so has around 20k white hat links from lots of very big sites (including lots of links that still refer to it as the homepage for this attraction).
SETUP: Site is set up and running. There's 43 pages of content on the site and everything is in place.
DESIGN: The has a premium theme with a Fiverr logo. Honestly, it's probably one of the best looking sites I've ever created. I still get impressed every time I go there.
CONTENT PLAN: Given that this is an entertainment niche site for a specific Asian country, it's hard for me to find writers to write content. So, I decided to do something different:
I put a page up on the site called 'contribute' to see if anyone who stumbled onto the site would want to 'have your work shown in front of over 10,000 people a month and make a serious contribution to (the niche)'.
I added a contact form and let it run for a month. I didn't get any notification emails so I assumed that no-one was interested. Then I checked the contact form and it turns out that I had the settings wrong. 9 people had applied in that month, including some very good writers, and I've contacted them to see if they're still interested. Only one has gotten back to me so I'm going to set her up as a writer and see how it goes.
SEO: Given that this site already has a backlink profile that would make any webmaster jealous (over 20k links from sites including high PR links wikipedia, DMOZ, and lots of .edu's and .gov's), and the KW's I'm going to start chasing are very low competition (mostly local venues and events), I'm not going to be too aggressive with the link building campaign. It will consist of mostly blog comments, forum links, and social signals and I'll just rely on the authority of the site to get those pages to rank.
MONETISATION: How to monetise this site was a question I struggled with for a while. I tried Adsense and it just looked cheap. I looked at groupon affiliate links and it looked even cheaper, so I decided to look around other sites in the niche. I found one that's doing very well (PR5 with over 30k visitors a month and a big enough income to support 5 or 6 staff) that was selling advertising space on the site for $250/month. With between 10 and 15 ads running at any one point in time, this seemed like a good idea so I'm going with that.
I've set up the advertising platform (OIO Publisher) with a few dummy ads, and once the site content gets a bit thicker, I'm going to contact everyone who's asvertising both through adwords and on the other niche sites to see if they're interested.
ADDITIONAL TRAFFIC: The site already receives traffic from referring sites (including wikipedia) so I don't need to focus too heavily on this. I've set up a facebook page but and I'm going to use this to keep visitors engaged with the site.
LONG TERM PLAN: Get a writer on board who's passionate about the niche and then have them run the site for a small salary.
So, that's the plan. I'll update with how things go.