For every successful and profitable blog out there, there are hundreds if not thousands of struggling blogs lost in the shadows. This is usually due to poor blog management, but also a loss of direction on how a blog should be monetized.
There are many different ways that you can make money with a blog, but it’s important to understand each before going forward. Let’s outline three different methods of for generating revenue on a blog, helping you choose which option is best for you.
On Site Advertising
One of the most popular ways to make money with a blog is to serve banner advertising on your site. Before placing any advertising on your site, you should have at least a few thousand visitors per month. You also need to consider the amount you will charge per month for each banner spot. A business related blog about internet marketing should be charging more money per ad spot versus a mommy blogger than writes about her children and daily experiences. In the end it really comes down to your advertisers, how much they will pay and the return on investment they are seeing. Make sure to always keep your advertisements relevant to your blog audience.
Consulting, Products & Business Growth
While a lot of blogs like to focus on selling direct advertising on their blogs, others like to keep all of the potential business for themselves. When people visit a blog with a lot of advertisements on them, they are sometimes turned off by all of the ads or distractions. One way to make money off your blog readers, is to offer consulting or selling your own products. Not only does your blog stay clean of third party advertisements, and clean only with your own content, but what you are offering to your readers is actually a product of your own and more personable.
Affiliate Marketing Possibilities
Whether you like selling ad space on your blog, or building your own products or offering consulting… it’s all about finding the right mix for your blog and your audience. If you have a blog that talks about books or individual products, you can use the Amazon.com associates program. You would then earn a commission on every sale generated from your blog. This is referred to as affiliate marketing, which is another revenue source outside of direct ad sales and consulting/product sales. This same practice can be found for almost any product or service online.. The more relevant your blog advertising is to your audience, the better results you will see. Using affiliate marketing on your blog can be very unobtrusive, as you would only link to specific products and services that you were planning on blogging about in the first place.
Mix up your advertising efforts to see what works best, while providing quality content and resources. Don’t feel limited to just one revenue source, but don’t get too carried away at the same time. Make sure that your blog has a custom theme that is built to cater to both your advertisers and readers. Without the perfect mix and attention to both your readers and advertisers, your blog will have a hard time succeeding.
With all of that said… how are you monetizing your blog and it’s audience?