Your core products and services aren’t your only way to generate revenue for your business. They may be your bread and butter, but you can create other digital products that help you get more exposure for your brand while also creating an additional income stream.
A popular way to create additional revenue for your business is to create a browser extension, which you can market to your current clients or your target audience. There are many ways to monetize the extension. The ones you choose depend on your revenue or marketing goals. Here are a few ideas for how to monetize your browser extension:
The most common way to monetize your browser extension is to sell advertising for it. Instead of selling static spaces, you should either create a dynamic script for the extension or sign up for a service that offers a coded extension. With the right program, you can change the ads as needed to keep a fresh rotation. This maximize your revenues potential, enabling you to reach more potential customers.
You have many options for the types of ads you can sell. One of the most comment methods is display advertising. Display advertising includes banner ads that can be either graphic or flash. You can also sell text ads, pop-up ads, and video ads to increase your opportunities for generating revenue.
If you code your own browser extension, you’ll need to do a lot of marketing to attract advertisers. Signing up for a service is much easier. However, if you do sign up for a service, make sure you choose one that has access to a large network of advertisers. You’ll increase your opportunities for selling ads and gain access to advertisers that are willing to pay more for their ads.
When users download your browser extension, they’ve actually created an excellent opportunity for you to increase your revenue. Take advantage of this opportunity by offering related apps or software. You have two options: You can either promote your own apps or software to increase your sales, or you can promote related products. If you promote related products, you can charge a flat rate for advertising them or earn a commission for every product that is downloaded. In industry terms, this is known as bundling.
The more carefully you choose the products you bundle, the more money you can earn. If possible, make sure the products you bundle are related to your products, so they should offer great value to your customers. Also, try not to offer more than a handful of products, so you can focus on apps and software that your customers can actually use. As with all things in life, too much of a good thing can ruin everything, so don’t overwhelm your customers with too many bundles. Just integrate enough to be tasteful and profitable.
Charge for the Extension
Of course, your browser extension can be a way for you to make money all on its own. While you won’t be able to charge a huge fee for it, you can generate a lot of income if you succeed in selling many copies of your extension, even at a low price.
One method of charging for an extension is known as freemium. If you opt for this method, you can encourage downloads by offering the extension for free to start. You can offer a trial version for free, or you can offer a free version that has limited features. If users really enjoy your browser extension, they may decide to buy it to continue using it, or to upgrade to a premium version that has additional features. If you choose to offer a free version with limited features, make sure you save the very best features for the paid version.
Soliciting donations is not a common strategy, but it can be effective. You may be worried that offering customers the choice to pay means that they’ll take the browser extension for free. However, several studies have shown that when people are given the choice to make a donation in lieu of payment they are not only likely to make the payment, but they will also pay more than the minimum that is asked. Asking for a donation appeals to people’s sense of integrity, and this often leads them to paying a little more than the lowest amount asked.
You won’t get rich by asking for donations for your browser extension. However, if your primary goal with your browser extension is to raise awareness for your brand, asking for donations can help you make a little extra money while you pursue that goal.
A browser extension may seem like a simple tool for helping your customers get more out of their web browsing experience. However, if you use the right strategies, you can actually generate a strong revenue stream with your browser extension. If you aren’t sure how to monetize your browser extension, these tips can help you start developing a successful strategy. Advertising is a great place to start, but you should also consider alternatives, like bundling your extension with other apps and software, charging for the browser extension and asking for donations. If handled deftly, you can combine all of these strategies to maximize your revenue potential without overwhelming your customers with offers.