It’s the first month of the New Year. Already a great number of new bloggers are starting their blogs with the vision of success in their mind. But what actually defines success in the blogging world? Is it the number of followers or the quality of content? Is it being happy in helping people or generating a 5-figure income?
No matter which side you choose, money is a big factor in how successful your blog is. Generating a steady stream of revenue, however, isn’t as easy as it seem to be. In a year, less than half the bloggers who start their blogs give up too soon because of disappointing results. Their blogs fail.
But we’re not here to discuss that. Instead, we’re going to talk about how you can make it into the small percentage of bloggers who do make good bucks from their writing. The word you need to focus on is monetization. This refers to converting your blog into a source of income.
Here are 6 ways you can successfully monetize your blog. If you keep at it consistently and don’t lose hope, you’re sure to succeed. Patience is crucial.
- Affiliate marketing:
Affiliate marketing is the first step in blog monetizing, because it is generally the easiest and simplest to start with. It is the process where you become an affiliate for a product. When it makes a sale because of you, you get a commission. This commission depends on the deal between the affiliate and the product creator and/or seller.The first step in affiliate marketing is to decide the product. Once you do, you have several options to choose from. You can either be a direct affiliate which involves a personal deal between affiliate and seller. You can work with affiliate networks, which connect you with people who want to get their products affiliated. You can also consult shopping sites i.e. e-commerce websites that offer affiliate programs.The final step is to devise a plan to promote the product. This is where your blog comes in. It’s the toughest part of the whole process. Many variables such as your blog’s content (theme) and its relevance with the promoting product, traffic, audience’s interest in the product, etc. play a part.
However, this poses a problem. The consumer’s bad experience could result in a bad name for your own blog because it was recommended by you. A workaround for this is that every product you affiliate yourself with, should be relevant to your blog’s content. Also, you should promote a product which you yourself would or have used and genuinely like.
Another way to monetize your blog is through advertisements. In fact, it’s one of the first options that come to people’s minds when they think about blog monetization.Put simply, people interact with ads on your site and you earn money through that. This interaction can happen in many ways. These include seeing the ad, clicking on the ad, clicking and completing a procedure given by the advertiser company etc. Similarly, there are many such deals which you can make with the advertiser.However, due to complexities, you’ll have to create a proper plan for setting up and running these ads. The process may seem easy, but it takes time, patience and hard work to get to the point where you have regular, steady traffic that can help you earn a good amount of revenue.
Ad networks like Google AdSense, Infolinks, and Media.net can be used to get these ads on your site. The networks can be used solely, or even in a combination with one another for maximum revenue.
A sponsorship is basically a direct, public advertisement. Sponsorships are highly effective for making money. They can also make your blog more famous and direct more traffic than before.The usual procedure is to approach someone to sponsor your blog. But sometimes a sponsor may approach you too, if they like your content and want to work with you. Either way, it benefits both parties in earning money and getting more audience, especially the smaller one.The best sponsors for your blog are those, which are relatable and relevant to the content you make. For example a blog about health could be sponsored by sports brands, equipment companies, nutrition brands, etc. It may seem tough in some specific niches, but if done right, has unlimited potential for your blog’s exposure.
The one thing you must be careful about is to clearly mention your sponsor. Hiding it can be problematic for your credibility and sometimes, your blog’s.
- Exclusive products:
A great option for making money is to create and sell exclusive (also called premium) products. As the name implies, these products are basically products that you create specially. You make them available to, and sell exclusively to your audience.These could be physical and/or digital.
For physical products, it could be as simple as fun merchandise to a series of books related to your content.
For digital products, it could be a digital copy of a book you wrote, mobile phone apps, resources etc. Any downloadable content that you could make money from works.
Though it depends on the audience you’re targeting, digital material is preferred in today’s age. It has shown exponential growth over the last few years. Selling the product is very simple. You could sell it yourself directly and handle all the process. Or partner with a seller to forward it to your consumers.
Nevertheless, it is a process that takes time. Good reputation and a large number of loyal audience who find your material credible and worthy enough to be paid for are important.
- Freelancing and services:
This is another effective approach towards making money. This is easier for bloggers who have niches that can be freelanced. You advertise your skills to your audience and are then hired for specific jobs that your client needs.This is also one of the options that you can utilize right from the start. It’s highly helpful in advertising your blog in the aforementioned case.Another strength you’ll have in this case is that you won’t have to worry much about the material. It will be from the content you’re comfortable and confident about, making it easier to deliver the best possible material. This would ensure that your clients would come back to you for more, once they get familiar with the quality of your work.
The only thing you need to be careful about in this option is to work on your blog with the same dedication. This ensures that you gather potential clients from your blog’s content too.
Creating courses is generally considered to be the toughest option in blog monetization. You create and sell specific courses related to your blog content.
To attract clients, your material should be better and more helpful than your competitors. It is then sold to audience who pay for it. These courses could be completely paid from the start, or could be “unlockable” content. This refers to something that is free for a time period or for specific material but then is to be paid for.
The best advantage about selling courses is that they’re successful in almost every niche. This makes them a potentially profitable monetization option. The only problem with creating courses is that it takes a lot of time and effort to create a close to perfect course that is applicable and useful to everyone who buys it.
But even with all the issues, it is a very productive option for potential revenue.