For many people, blogging is a passion and there’s more that comes with it. Aside from providing an ideal platform for one to share ideas on a certain field, with like-minded people, it also creates a slew of avenues through which one can earn some extra cash. But the sad truth is not many know how to monetize your blog.
If your blog gets several thousand or even million unique visitors each month, monetizing it and creating a somewhat steady revenue stream is easy. But how exactly can you achieve that? Well, here are 7 proven ways through which you can turn the massive traffic to your site into revenue:
Selling ad space on your blog is one of the most intuitive and straightforward ways of monetizing your blog. Here, you can work with businesses or advertising network, who will be delivering ads directly to you. The advertisements are typically displayed in the header and/or sidebars of your website.
Advertisements come with different models, which you as a blog owner can leverage. The first one is Pay-Per-Click, which generates income every time a visitor clicks on the ad. Second is Pay-per-Impression, also known as Cost per Thousand (CPM), where you get paid every time a reader views an advertisement on your site.
The third one is pay-per-action, where the advertiser pays you whenever a reader performs a certain action (agreed upon by you and the advertiser) like registration, newsletter sign up and/or contact request.
Affiliate marketing entails promoting third party products or services through a certain link for a commission. Ideally, when a visitor clicks on the personal link(s) given to you by the marketer and makes a purchase, you get a cut on the transaction(s). Affiliate links can be placed anywhere on the website including within a blog post or along the sidebar.
The amount of commissions bloggers receive may vary depending on specific product or service niches and of course, the number of readers they are able to convince to buy. Many forex or online trading companies, for instance, have decent commissions for their partners. So if you’re running a website about finance and have a loyal following, you should definitely consider this.
Another way to increase the revenue stream from your blog is through selling your own products directly to customers or audience. Since you have a niche platform and a decent following, getting the product to the market won’t be that hard. The products here can be physical like apparels, party invites, planners etc or can be in a digital form such as e-books, apps, photos, online courses or digital subscriptions.
If you’re interested in selling physical products though, be sure to have the facilities and channels through which you can fulfil orders. Some of the critical aspects you may need to think about include:
- Accepting payments
- Handling returns
Selling a service, just like selling a physical product, can be lucrative to any blogger. Here you’ll be dealing with intangible stuff. Some of the services in this category that can generate some reasonable amount of revenue include graphic design, copywriting, photography and consulting/coaching. Technical setup for selling the service online is also required to facilitate swift delivery and smooth payments.
The content you write for your blog doesn’t have to free. There are businesses that are actually willing to pay you to publish their content. Some of the content may come in form of paid reviews, branded publicity articles, editorial pieces and more. For you to be favoured by potential clients though, your blog must have some authority in a given niche so as to almost guarantee certain brands of the value they’ll get from your publicity.
If you have a fairly large loyal fan base as a blogger, chances are regular readers or those who love your exceptional content may want to support you by making little donations once in a while. Some of them might not say it but would surely want to contribute. So why not create sort of a ‘donate button’ or a channel through which readers can leave a tip on your blog once in a while. It can be a great reminder to those who would wish to give you a boost in terms of finances.
The good thing with this model to monetize your blog is that there are no strict terms between you and those donating. Hence you don’t have to deliver something in return. But it should come naturally that you need to keep the standards of your content high in order to maintain the loyal readers, who’ll be donating some cash.
Selling Your Blog
Having an established website presents many avenues of making money online and to monetize your blog. And since setting up a website and optimizing it to the brink takes a lot of work, many people (with interest in certain niches) prefer buying websites or blogs that are already up and running.
For a fully established blog with a sizable audience, you can cash in a huge amount when you sell it. You can make several other blogs and sell them if your endgame is really to make money out of creating blogs.
Conclusion on to “Monetize Your Blog”
It is a wrap! Those are the major channels through which you can make extra money on your blog. You can always mix and match some of them in order to increase your revenue base. Try these strategies and you’ll see your blogging transitioning from a hobby into a successful business.