How to Make Money from Your Blog
In this article you will learn how to prepare your blog for monetization and monetization strategies for blogs with small(new blogs), medium, and large audiences.If one of the driving factors for starting a blog was to make money online, then this is the chapter you have been waiting for. Now that you’ve learned how to setup your blog, create great content, and promote your blog, you are ready to start with monetization. For those who work regular full-time jobs, it is a great way to generate a side income. For those who plan to dedicate themselves to the monetization strategies, it is possible to use it as regular income.
Monetization misconceptions
First, let’s clear up a few misconceptions about blog monetization that you may have heard. Passive income is the way to go so you can earn money while you sleep.
This isn’t entirely false, but it’s not as simple as it sounds either. Bloggers who are well
known for their passive income generation did not start their blog one day and earn piles of money in their sleep the next. Just like any other income source, passive income requires a good bit of hard work in the beginning to set up. But if you do it right (and we’ll teach you
how), you can start earning money, even while away from the computer.
Income reports can show you the path
to earning top revenue on your blog.
Income reports are monthly blog posts written by bloggers who make money online, showing exactly how much they earned throughout the month and how they did it. You can see some great examples of income reports from Pat Flynn and Matthew Woodward to get an idea of how bloggers are generating revenue.
What you want to be on the lookout for are misleading income reports - those that show how much a blogger makes, but not how much they spend. Many bloggers invest a lot of money into their blog on a monthly basis in order to earn revenue, but some conveniently leave that fact out in their income reports, making it look like they are earning tons of free
money.
Whenever you craft your own monetization plan, you will need to keep some expenses in mind. These include your web hosting, email marketing software, search and social media tools, mastermind memberships, online advertising, and similar costs.
You should wait to monetize until after you grow an audience.
This one is pretty much false. Although you can only utilize certain monetization strategies with a budding audience, you shouldn’t get your readers used to an advertisement-free blog and then spring into monetization mode as soon as you hit a certain number of visitors. This might surprise and put off your original readership. By putting some monetization strategies in place at the start, you will have the chance to earn a little money from the beginning while letting your audience know exactly what they are going to get. Sure, you can add / subtract monetization methods as an on-going process to test which ones earn the most revenue, but don’t feel like you have to wait to start. Now that we’ve\ debunked a few misconceptions when it comes to making money through blogging, let’s start looking at how you can make money blogging
Preparing to monetize
Before you start monetizing, there’s one basic thing you need to do to ensure your current and future monetization success: start building an email list. We’ve mentioned this before, but it is absolutely essential if you want to earn money in the blogging world. Here’s why it is so essential..
- If you start to capture email addresses at the start of your blog, you will have the chance to retain your first visitors as lifelong readers. No one has to know there’s only one subscriber on your mailing list so far if you don’t tell them. Before you have monetization strategies that need email promotion, you can use your email list to drive traffic to your blog by promoting your content.
- Your email list subscribers have more of a chance to see your email messages than social media updates. Facebook reach is slim, as is other networks, since most people are following hundreds of other people and businesses. Getting in someone’s inbox means that they will at least see your name on a regular basis, regardless of whether they open that email. And when they do open that email, you have their undivided attention.
- Your email list subscribers are yours. You can’t save contact information about fans of your page or followers on your Twitter account. Your email list, on the other hand, is exportable. So if your email marketing provider decides to shut down, you take your list and move it elsewhere as opposed to lose it completely
- When you start utilizing monetization methods such as email list sponsorship, affiliate marketing, or selling your own products, you will have grown a loyal audience that is used to receiving and consuming your emails. When you start utilizing monetization methods such as email list sponsorship, affiliate marketing, or selling your own products, you will have grown a loyal audience that is used to receiving and consuming your emails. This is much better than starting a list and selling to your subscribers right away.
If you have a relatively new blog, or one that doesn’t receive a lot of traffic, then the following are monetization strategies you can put into place to start the revenue generation process. Affiliate marketing Affiliate marketing allows you to generate income by promoting other people’s products for a small commission. This is probably the easiest monetization method to get into at the start because you can apply to most programs with little to no audience. All you need is your blog
Google AdSense
Once you have created some content for your blog, let’s say 10 - 15 blog posts, you can apply for Google AdSense. Google AdSense allows publishers to generate income from advertisers who want to place ads no the Google Network. Once you sign up and get approved, you will be able to customize ad slots for links, banners, images, and video and place the Google AdSense code for each of these ad slots onto your website. After an hour or two, Google will begin to match the best ads to your website. The key to Google AdSense is to follow the guidelines and know where to place your ads for the best results. You can experiment with ad placement in your blog’s sidebar, below the title of individual blog posts, in your blog’s header, and other areas. Google even offers some example site layouts that will help you get the most clicks for
your ads.
One thing to keep in mind about Google AdSense - if you are makinggood money through affiliate marketing or selling your own products and services, the last thing you will want is to encourage someone to leave your website by clicking on an ad. Once you begin making good money through other monetization strategies, you may want to consider removing Google AdSense. It’s better to get a $20 sale than a $0.05 click. Monetization strategies for blogs with small size audiences Once you start building up a loyal readership and a good flow of traffic, you can start looking into additional monetization strategies such as the following.
Selling ads
Depending on your niche, you can generally start selling ad space directly to advertisers once you get a certain traffic volume. You can manually manage ads on your blog, or use platforms like BuySellAds that can help you sell and manage ads quickly through their platform with a snippet of code that goes on your website where you want particular ad sizes and types to be displayed. It’s also a great platform to use in researching your traffic volume versus how much you can
charge for ads.
For example:
An automotive site with 20k monthly impressions charges $50 per month for their 728x90 leaderboard ad space. A site about mythology with 35k monthly impressions charged $3 per 1k impressions per month for their 300x250 top sidebar ad space.
A site on investing with 50k monthly impressions charged $8.75 per 1k impressions per month for their 728x90 leaderboard ad space.
This is a monetization strategy that has the potential to generatecontinually increasing amounts of revenue based on your ability to drive more traffic to your blog. Be sure to create an advertising page on your blog and update your metrics (traffic, social audience, email list subscribers, etc.) regularly so you can continue to increase your ad pricing monthly.
Sponsored reviews
In addition to selling ad space, you can also offer sponsored reviews. This is where someone pays you to write about their product or service on your blog. If you choose only the products your audience will most likely be interested in, you can earn money while creating great content - a win win situation. If you choose any product just because someone is paying you however, you could lose your hard-earned audience as they will not be interested in the content. When you do sponsored reviews, you should always remember Google guidelines about using the rel=nofollow attribute for paid links, or links within a paid review. People will likely offer you more to have a dofollow link - you’ll need to use your own discretion on whether the price advertisers offer for a sponsored review is worth risking the wrath of Google. In order to write a great sponsored review, insist that you want to use the product or service for a trial period to really get some insight into it. That way, you can write a very compelling review. Selling your own products or services If you have a loyal following, then you don’t need a large audience to start selling products or services. All you need is to be able to answer the following questions. The first question will help you determine if there is a paying market for something you can provide for people as a salable product or service, and the second question will help you determine what that product or service is.
- Here are a few quick examples:
People are regularly asking you how you customized your WordPress theme’s functionality or design, and they are asking if you can help them do the same for their blog. You can take this as a sign that you need to create an information product (such as a video tutorial series) on ways
to customize WordPress themes or offer a service where you will customize WordPress themes. People are regularly asking you if you sell prints of your photography. You can take this as a sign
- People are regularly asking you to write content for their business. You can take this as a sign that you need to offer freelance writing / copywriting services. People are regularly asking you how you market your blog and if they can “pick your brain” about it on a quick phone call. You can take this as a sign that you need to offer consulting.
If you pay attention to what people are asking you for most often, you’ll likely discover a great product or service you can offer. Because for every person that asks you about something, there are probably a dozen others who would also ask the same thing.
Selling your blog
It might sound a bit crazy, but if you have a blog that isn’t directly tied in to your own name, products, or services, and mostly depends on ad revenue, you may want to consider selling your blog later down the road. Some blogs - like the 20 listed in this article - have earned over $1 million dollars in a sale thanks to how much traffic received, the quality of content they house, and the advertising dollars they rake in on a monthly basis. The more traffic, quality content, and advertising dollars you earn with your blog, the more you can sell it for later down the road if you so choose.
Conclusion
We hope that you’ve enjoyed this guide to creating a successful blog, from setup to monetization.
There are many other monetization strategies you can try with your own blog - these are just the most
popular ones that tend to generate a lot of income for a lot of bloggers!
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