If you have managed to build a great blog with some awesome traffic, then the possibilities to monetize your blog can be limitless. If you are really looking at building your blog for profit, then it is important to understand that rushing things up might not help.
Almost all full time bloggers (who use their blog to earn a living), have been regularly blogging for at least three years now. It takes time to build steady traffic that can help you earn a living.
You may choose to run advertisements, use affiliate links or work with brands from day one, but you must remember that the traffic that you get on your blog will ultimately determine your ability to monetize your blog. Therefore, the first thing that you must concentrate on is to ‘Go Slow.’ Stay away from the quick fix money making hacks and focus on the big picture.
Look at how you can create awesome content and ensure that you are building your base of readers. Do not agree to write sponsored posts or host giveaways for products that you are not even convinced about but can get you some quick bucks. Instead, focus on writing content that gets more readers.
Substantial research has been conducted to prove that there is a definite relationship between the number of monthly page views a blog gets and the amount of money the blog owner earns. Let us look at some of the methods that can help you in monetizing your blog (once you have enough readers):
#1. Ad Networks
Advertising networks such as Google AdSense, Media.net , PulsePoint.com , BlogHer, etc. work with a large number of advertisers who pay the network to place their ad on your site.
Depending on the ad network, you could receive a cost per thousand views or a pay per click payment. Sometimes, it is a combination of these two things. Once your advertisements are in place, you do not have to do anything.
You make money by simply sitting there. The only flipside to this is the inconsistent ad traffic. If you happen to be at the right place at the right time, you may earn a lot of money for a while. However, as trends begin to fall, your income may begin to fluctuate.
This implies that revenue from ad networks is incredible when you can capture it. It also implies that you need to exercise caution as you rely on revenue from advertisements. You must diversify your income.
Therefore, if you want to earn profit from your blog, you can let the ad network be your important revenue stream, but you can never let it be your only revenue stream. The highest paying ad network is Google AdSense.
However there are also several AdSense alternatives for low traffic sites that can help you earn a decent revenue.
BuySellAds allows bloggers to sell their ad space, set their own prices, and even reject or accept ads.
As you begin using these ad networks, you must learn to optimize the placement of these advertisements – so that you get maximum clicks and revenue. Research proves that the best placement is directly above, below, or to the left of your primary blog content.
Make sure to use a darker color for ad placements. You can also use content based advertising. Remember, users who visit your blog for its content are more likely to click on the relevant products that you advertise on your blog.
#2. Private Advertising
Private advertising is any paid advertisement or link on your site that is paid directly by the company that is advertising, rather than a network. It is generally a specific ad at a specific spot that stays up for a limited period of time. In order to work with brands directly, you must clearly define your brand strategy and figure out nice, innovative ways through which you could offer private advertising on your website in the most authentic manner possible.
You must be able to determine how you want to work with brands. In order to sell your site to various brands, spend some time packaging your blog.
Create an attractive advertising booklet that provides the brands you intend to work with, with a description of your blog along with the traffic statistics and opportunities available. You may want to consider setting up a specific email address solely for the purpose of advertising requests.
#3. Affiliate Marketing
Affiliate advertising is an ad or a link to a product or a company that results in a commission only if the click on that ad leads to a sale. This could include Amazon links or links through other websites such as Pepperjam Network , ShareASale, ClickBank, etc.
The most successful affiliate sales are a result of creating a relationship of trust with your readers. Your readers will buy the things that you recommend because they trust you – they trust what you write and are happy with the manner in which you keep them engaged.
The payout for Amazon sales is fairly low (around 5%) in comparison to other affiliate programs. However, the best thing about Amazon is their user friendly interface which allows you to link to link to any of their pages or products. Now, imagine somebody clicking on the affiliate link, reaching the Amazon site, and in the process of surfing for a $5 book, buying a $500 coffee machine!
Yes…this is also possible with Amazon – they sell everything under the sun and the person who bought the coffee machine used your affiliate link, which means you get a commission on that. Cool, isn’t it? The only way to increase your affiliate sales is by producing awesome content and paying attention to the kind of things that your readers are using and buying.
Be honest with your readers and share links for things that you actually use or places that you actually visit. Always ensure that your links are relevant.
#4. Sponsored Posts And Brand Promotion
Another popular monetization strategy is to work directly with brands to promote their products within a post or series of posts. These can be posts that are written on a topic provided by the sponsor, product reviews, or paid product giveaways.
#5. Selling products
You could use your blog to sell your e-books, your e-courses or even items such as t-shirts, tote bags, handmade decorative items, etc. And the results are self-explanatory – you get to market your products via your blog, and you also get to earn awesome profits – with practically zero investment.
#6. Selling Services
Depending on the niche that you are comfortable with, you could sell services such as local classes, hobby ideas or even online consulting services such as virtual feng shui and vaastu consultation.
#7. Writing And Speaking Opportunities
Many popular speakers get their first speaking assignment through writing a successful blog post. You never know, you may be the next one in the line!
Let us look at some of the action items from this blog post:
– You must take it slow. Realize that every blogger earns income differently and almost nobody earns it overnight.
– Figure out what resources you would like to use and decide accordingly. You do not have to use all monetization channels. Identify the voice of your blog and see what fits best.
– Be authentic with your readers. Do not advertise products that you do not believe in or would not use personally.