Service Income – How to Sell a Service

Fourth Monetization Strategy – Services

Selling services is the fourth monetization strategy. A service is an intangible product that you “rent out” rather than sell. There are two types: manual and automated.

Manual Services

A manual service is one where you trade your time and expertise for a one-time fee. Once you have established yourself as an expert in your niche, you can start to earn money by offering a variety of services related to that area. Though this is not a passive monetization strategy, it can yield a substantial side income while you work on building your passive income streams.

If you want to try out selling services, then start making a list of what services you can offer from your site. Preferably, find ones that are in high demand and require specialized skill, so that you can charge a large fee for them to make it worth your while. Here are some examples of services:

  • Consulting – You can offer consulting services to other people or businesses that could use your expertise.
  • Writing services – Guest writing, professional blogging, proofreading or sponsored reviews.
  • Web services – Graphic design, template design, web development, or website creation.
  • Public speaking – Speaking at events or holding seminars.
  • Support – Allow people to contact you personally for support related to your site or products.

When you have found out what services you want to offer, add a “Hire me” page to your site that informs visitors of what services you provide. You can also sell your services through eBay and other similar sites.

Automated Services

Certain types of services can be automated. Basically, you program a piece of software (or construct a machine) that replaces the work of a human in one area. Instead of selling the software or machine, you allow people to use it for a period of time by paying a fee. Examples of this would be online tools for keyword research or link analysis.

Another type of automated service is where you own something of value that can be rented out through an automated system. The most common example of this in the online world is where you allow people to purchase advertising space on your site, for instance with Google AdSense. Another example is the server resources that web hosting companies rent out.

A third type of automation is a subscription service of some sort – for example, paid memberships, where you allow subscribed visitors to access exclusive content or other special features. The key to a successful subscription service is to offer a consistent flow of value that your subscribers cannot find anywhere else. Providing an exclusive community environment for the subscribers is another important component.

The main benefit of owning a paid automated service is that it provides you with a monthly income from each subscribed customer. As long as a customer remains subscribed to the service, they will keep earning you money. This in contrast to the one-time fee you would receive from selling the automated service as a product. Though the monthly fee may have to be low to stay competitive, the long-term value of each customer is great. Negative aspects include that it is often harder to get a visitor to sign up for a recurring fee than to buy something for a one-time fee. There may also be significant competition from free alternatives to your service.