Blogging is one of the most common ways to make money online. You’ve likely heard of bloggers who earn small fortunes by writing about their passions and hobbies. So, how did they pull this off? Well, the truth is that they had to go above and beyond what they love in order to make it happen.
Blogging is not really a get-rich-quick scheme: only 14% of bloggers earn a salary from their digital business. Merely producing quality content only goes so far. To strike gold, one has to come up with a sound monetization strategy. In this article, we present you with some of the most effective methods to earn income as a blogger.
Our friends over at DollarSprout have put together an in-depth post of 13 passive income ideas to help you make money around the clock. Make sure to check it out!
Affiliate marketing is a highly efficient monetization tactic. In a nutshell, you endorse other people’s products and services and earn a commission via publishing an affiliate link on your website. This is an amazing way to get the ball rolling because it’s fast and doesn’t require you to develop your own product or service.
This is a passive form of earning an income, but it can be a nice testing ground for future product creation. Just bear in mind that it pays off to be genuine and feature only the affiliate products that you personally approve or that are related to your niche.
Speaking of which, our next strategy revolves around products and services that bloggers crate themselves. Not everyone wants to promote other people’s offerings, and if you fall under this category, sell your own product.
This is a viable course of action, provided that you have a solid plan and target a particular segment of the market. There is a wide range of products you can consider, including e-books, workshops, online courses (using a platform like Teachable), images, videos, apps, plug-ins, themes, etc. Whatever you choose, it must be something that meets real wants and needs of people.
Online side projects
Being a blogger practically means the Internet is your playground, so why not use all it has to offer? One great way to capitalize on your expertise is to teach online courses. There are plug-ins for WordPress that allow you to get started, although established online education sites are a nice solution as well. This brings us to the point: don’t hesitate to branch out and venture beyond your blog to snatch profit.
You can also write an e-book or sell merchandise. If you have some money on the side, invest it in an online business. Start another career by becoming an fx broker or engaging in stock trading. You can also pick up freelance projects on sites like Fiverr and Upwork. These are highly-lucrative options that require some know-how and market prudence, which is why so many business bloggers decide to go down this road.
Those who manage to establish a solid presence in the booming blogosphere tend to receive sponsored post offers on a daily basis. They work as native ads, a marketing technique that allows other businesses to reach your audience in a way that is more organic and non-aggressive.
Of course, as a blogger, you have to ensure that the posts are actually useful and relevant to your audience. Otherwise, sponsored content could actually hamper your reputation. Likewise, it is recommended to always openly disclose the nature of a sponsored post.
Placing ads on your blog is a highly popular monetization strategy that holds great promise. You can either go for PPC/CPC (pay-per-click and cost-per-click) ads that bring profit per every clicks or CPM ads that generate a fixed amount of money once you reach a threshold (usually 1,000 impressions).
Google Adsense is the most renowned platform for placing these types of ads. The great thing about it is that you don’t even have to be in contact with advertisers. And if for some reason this tool doesn’t work for you, there are some other excellent alternative networks, such as Media.net, Infolinks, Chitika, etc.
Consulting and coaching
Building a reputation of a go-to expert can pay off in so many ways. For example, you have a chance to offer consulting services in almost every niche. You are already offering a plenty of advice for free, so why not start charging for it? Many other bloggers are already doing it.
Basically, you can get paid by the hour for investing your time in Skype, phone, and email conversations and correspondence. Coaching is a similar method, but with a slightly different focus. Namely, you provide one-on-one services instead of catering to whole organizations and teams.
Blog your way to financial triumph
Making money with a hobby or business blog is definitely possible, but it is no cakewalk. Yes, blogging can be a great, lifestyle-friendly endeavor that enables you to use your talents as the main vehicle to success. But, the profits don’t come automatically after you have attracted a certain number of visitors and subscribers.
So, decide whether you want your blogging to be a side gig or a full-time career. Be crystal-clear on how you are going to spur income. Know that from selling ad space to your own products, there is a plethora of opportunities to earn some green.
If you really mean to hit it big, set yourself apart, impress your audience, and tap into multiple revenue sources.
Jolene Rutheford is a marketing specialist- turned blogger, currently writing for Bizzmark Blog and Technivorz. Interested in media and social media, digital marketing and psychology. Loves coffee, jazz, dystopian and fantasy movies.