The question I am most often asked by budding internet entrepreneurs is “how can I monetize my blog?” While there are a lot of bloggers out there writing for altruistic or creative reasons, I assume that if you’re reading this guide you’re wondering the same thing.
In truth, the hardest part about making a blog profitable is getting traffic to it. Once you have the traffic, things get a lot easier. But you also want your blog to be making money as soon as the the traffic arrives, so we’ll cover monetization before we worry about getting traffic.
While there are literally dozens of ways to monetize a blog, I’ll cover eight core methods below.
Affiliate marketing is the first monetization method on the list because it’s generally the easiest to get started with.
So, what is it?
Affiliate marketing is a process that rewards bloggers for providing an audience with valuable information and showing them products and services that may benefit them, through commissions sent by an affiliate program owner.
This process is especially useful when you’re just starting out and you don’t have products or services of your own to sell.
If you choose to join an affiliate program, just make sure that:
- You promote products relevant to your blog, and
- You only promote products you’ve personally used and recommend.
For example, if you’re running a fitness blog, you could sell health products, vitamins and minerals, or body building supplements. And since you’re knowledgeable enough to write about the topic, you probably have real life experience with products and services, that you’ll be able to share and recommend.
Advertisement’s can sell as high as $55+ per click, if you’re in the right niche (insurance).
Even in less extreme niches, such as Dating, advertisements can sell for as high as almost $3 per click.
This makes advertising a highly lucrative business opportunity, if you have the traffic.
The easiest way to get started with advertising, is to signup for Google Adsense. Google makes it easy to display ads on your blog, and handles payouts and conversion optimization or you.
We’ll discuss methods of getting traffic in the next lesson.
If you’re a blogger, then you already have some in demand skills that can be sold to make a healthy online income. Creating a successful blog requires writing skills, website design, marketing, and social media management, at minimum.
All you need to do is use your blog to advertise those skills, and that they’re for sale.
And, if you have expertise in other fields outside of blogging, then great! Write about them and advertise those skills for sale as well!
You can also advertise your skills on Freelancing platforms such as Freelancer.com and Fiverr. While you can accept work directly from your blog, if you’re just getting started and don’t have much traffic yet, these websites are full of potential customers and can get you earning money straight away.
eBooks are often the first product new bloggers create, and are a very effective and popular way to monetize your blog. They also work for pretty much every niche, as theirs always something to write about!
And with so many self-publishing avenues available, its easy to make your book available to masses through your own site, or major retailers like Amazon.
<Insert Amazon Affiliate Link>
Considering most bloggers are already teaching their visitors something through their blog, creating courses is the next logical step. And since they’re getting so much valuable content for free, visitors are often more than happy to pay a bit to thank you for sharing your knowledge, and to access your best advice.
Courses can either be staggered, where certain time-frames or pre-requisites have to be met before next lessons are released, or full packages can be released at once, allowing participants to view at will.
If you feel that prior knowledge is necessary to understand or get the most out of some of your content, staggered content works best. But if each lesson is relatively independent, participants can appreciate the freedom that full releases bring.
Other Digital Products
Digital products are an all round great way to profit from your blog. They’re instantly accessible to clients, don’t create shipping nightmares, and convert well if their content is related to the information on your blog.
Other digital products can include videos, downloadable guides, software, music or premium podcasts, and more.
If you’re looking for a way to start making money NOW, become a coach.
Data from Disc Insights has found that the life coaching industry brings home $2 billion per year in annual revenue.
That amounts just staggering, and best of all, everyone experiences life, so anyone can coach about it, and a blog is the best medium of advertising for it, since you’re sharing your experiences and expertise with the world.
Inevitably, your readers will face changes in their life. Write posts that strike a cord with them, and when they feel they need help, through the relationships you’ve built with them, they’ll reach out to you.
If you’ve ever listened to a podcast and heard “This eepisode is brought to you by…”, you’ve encountered a spondership in action.
Getting sponsorships for your blog can bring in huge amounts of cash, however you’ll need a decent amount of traffic to attract sponsor interest. Still, definitely keep this option on your radar as you grow your blog.
You can create sponsored posts, but make sure you’re honest and label them as such. Or, in your normal posts you can have a “sponsors” list at the bottom of them.
The FTC cracks down on marketing products and services, including articles, that are sponsored, but are passed off as organic.