For newbie entrepreneurs just getting started in the business world, it can be difficult to decide which type of income to promote brands is best for them – website or platform? While the answer might seem obvious at first glance, there are several benefits and limitations to each type of income to promote brands that can make it more or less favorable than the other.
So, what’s the difference between website and platform income streams? Let’s take a look!
Which one is best for you? Signing up on platforms like Amazon, Ebay, Etsy etc, or using an WordPress? Can I earn money right away with WordPress? And how do I monetize a website/app in general anyway? You’re not alone if these questions have been keeping you up at night.
What matters most isn’t which platform you choose, just that it works for your business model and needs. Read this blog to get the answers to your questions:
The website you have created could be your way of being able to serve your customers and to promote brands without having to rely on anyone else. You can work as long as you want, wherever you want.
And if your content and/or products are what makes people come back again and again, then a website can be very rewarding. However, before setting out on building a website make sure you have an audience to target first; otherwise, all that effort could end up being wasted.
One reason people are attracted to platform-based businesses is their potential for making passive income. Many people who start out on platforms are disappointed when they discover how much time and effort it takes to create a successful business through one of these channels (Amazon, Etsy, eBay, and more)
Without fail, more hours spent equals more money earned and there’s no limit on how much money you can earn using a platform-based model. However, that doesn’t mean it comes easily. Since there are millions of other businesses on each major platform, getting customers can be a challenge.
Which one is more expensive?
For someone who’s just starting out, creating a website is more expensive than setting up a platform.
This might seem obvious given that creating a website requires developing and hosting your own site while using a platform simply requires an account with the said platform.
However, if you plan on making money with your business, it will cost you no matter which approach you take.
You can use WordPress and other free content management systems to create a functional website but those options won’t have all of the bells and whistles you might desire or need.
Best Income Stream For You
The platform model has made some big news recently because of its highly scalable and almost infinitely variable nature. But that doesn’t mean there isn’t room for a website, especially in specific niches.
For example, it may be that your target audience really likes to have a one-on-one relationship with you. In cases like these, a platform won’t work nearly as well because most people prefer to purchase online from someone they know.
As long as you have some way of getting around high transaction fees (or find a site willing to pay a nice fee), you can earn more through your own website than through any other option.
Which One Should You Choose?
Many people first think about creating a website to generate revenue, but some may actually be better off starting on a platform. There are two main ways to make money online: selling your own products and services or selling other people’s products and services.
Websites are better suited for selling your own goods or promote brands while platforms are better at facilitating third-party sales.
This depends on whether you have original content that you want to share with readers (your own goods) or if you’re only interested in promoting other people’s goods (their services).
Free Consultation From EcomSaviour
At EcomSaviour, we make every effort to connect with every eCommerce business owner on a personal level. We have discovered that one of our best means of doing so is through offering free consultations.
These quick chats allow us to get to know potential clients better and give them an opportunity to meet us and find out if we can work together. For those who want to scale up their income, we provide consultation on platforms and websites.
We’ll tell you how well a planned strategy will work for your business. If you’re interested in reaching out, just email us here (info@localhost). We’ll be happy to walk you through it!