The difference between a blog that’s just created for fun and one that’s created for profit – is monetization. If you’re just starting a blog to journal your daily ramblings and entertain your friends and family, you’ll not need to be too concerned about monetization though you might want to leave the door open for it in future.
Many hobby bloggers decide to monetize their blogs later on once their readership swells. So, having an idea of what blog monetization is about can be helpful.
Monetizing a blog is simply finding ways to make money from it. Generally, there are 6 proven ways to go about it. There are several other ways, but these 6 are more than enough for you to start with.
1. Affiliate marketing
This method is right at the top of the list because it’s relatively easy and profitable. To succeed with affiliate marketing, you’ll need to have links on your blog pointing to products that your readers can buy.
Once they purchase a product, you’ll get a commission. This method is hands-off and the vendor will ship the customer the product, leaving you without any customer support issues to deal with. Since you’re like a virtual sales person, you’ll get a commission.
To become an affiliate, you’ll need to sign up with the affiliate network. Popular networks such as Commission Junction, Rakuten, Shareasale, ClickBank, Amazon Associates, etc. have tons of products for you to promote.
2. Sell your own products
Once your blog gets thousands of visitors, one of the most profitable ways to monetize it will be to create your own products and sell them to your readers. You could create digital infoproducts… or you could make crafts and sell them through Etsy. Print on demand companies makes ecommerce easier than ever before (Custom Cat, Gearbubble, etc.)
The possibilities are endless. As long as your products are congruent to the niche you’re blogging about, your audience will be interested in what you’re selling.
3. Email marketing
Do ensure that your blog has an opt-in form for visitors to sign up to your list. You’ll need an autoresponder software such as ConvertKit, GetResponse or Aweber to collect the emails and automate the process. These software come with a monthly fee, but are a necessary expense to take your business to the next level.
If you’re using Thrive Leads, you can have sticky bars, scroll mats, pop ups and other list building options to help you get more leads. Once you have subscribers, you can email the list regularly and build a relationship with them and promote/sell products to your tribe.
A common way most marketers monetize their blogs is with Google ads (Adsense) or other niche specific ads.
You may also look for sponsors to place sponsored content on your site for a monthly fee. Of course, you’ll need a large audience and your blog content must be excellent to attract sponsors.
Generally, it’s best to try the first 3 points mentioned in this article because they are much more profitable than Adsense or other sponsored ads.
5. Membership site
One fantastic way to monetize your site will be to sell a course/product that has a recurring charge. For example, if you’re in the keto niche, a monthly newsletter that delivers new keto recipes every month for $10 will be an excellent way to generate revenue.
If you have 500 members, you’ll be looking at a monthly recurring income of $5,000.
This is not chump change, and definitely worth the time and effort required to set up a membership site. Don’t panic. It’s relatively easy with all the software options such as WishList Member, Amember, ClickFunnels, etc. available to you for a fee, of course.
6. Flipping the site
This is the last way to monetize your site, and it’s one that has to be an unemotional decision. If you can build a blog and get it ranking and making money (using the methods mentioned above), you can easily sell the blog on sites like Flippa for 8 to 12 times your monthly revenue.
This method will bring you a sizeable influx of cash and allow you to start on a few other projects. You could create 3 new sites that you sell in 9 months for profit too.
Marketers who engage in flipping sites are very logical and methodical in their approach. They have no emotional connection to their blogs and the blogs are not branded around their personality. These blogs are just money-making machines which are sold for profit.
The 6 methods mentioned in this article are real-world techniques of monetizing your blog. Many bloggers make 6 and 7 figure sums just using the first 2 methods.
So, you can rest assured that if you specialize and go deep in any one method, you will generate a sizeable income from your blog. Just get started.