I want to talk to you today about the most important thing you need to know about yourself and your blog in order to monetize successfully.
Now, first of all, let’s talk about this word “monetize.” People use it all the time. It seems to be the popular terminology that’s used by bloggers when they want to make money.
So, first of all, let’s put this to rest right now. Even though I teach people how to make money with their blogs, I’ll be the first to tell you that I think the word “monetize” is a BULLCRAP WORD.
And why is that?
Well, it tends to be an afterthought for bloggers. They create this thing and their entire focus is eyeballs and traffic and comments. Then they come in there with this after- reaction and think, “How can I make some money with this thing?” That is what monetize usually look like.
That is why most bloggers have a really difficult time monetizing because it’s an after-reaction. They are just blogging about some stuff without really doing it strategically.
See, the whole idea of content marketing and blog marketing is that the stuff that you create actually has a purpose to attract the type of people who want to buy something from you. So, that is why I don’t like the word monetization.
But what is the most important thing you need to know?
The most important thing that you need to know about yourself and what you’re delivering is…
What is the ACTUAL product that you are delivering?
And by that, I’m not referring to eBooks and membership sites and things like that. I’m referring to the ACTUAL OUTCOME that you’re trying to deliver into the lives of people on your site.
What are they there to achieve? What are you trying to provide to them? What is the end product that you want them to have as a result of helping them?
If you have that in mind, and you orient everything you do around solving this problem for them and providing something to them that they need and want on your blog, you now know the most important thing you need to know about monetization.
The Two Conditions
When you understand that, there are 2 things that definitely need to be in place.
One of them is it needs to be valuable. It needs to be perceived as being valuable by other people.
Secondly, it needs to be something that they’re going to buy from you. They need to see it as valuable enough to be willing to pay for it.
If you’re doing something and you’re not getting some exchange for it that is valuable to YOU from your audience, well then you really haven’t arrived. They’re not going to give you anything if they don’t perceive it as valuable and they don’t see that they need to pay for it in some way.
So, here are the two criteria:
1. It needs to be perceived as valuable by people.
2. It needs to be something that people are willing to pay for.
It’s just business 101 here, right?
Alignment Between Your Actions And Your End Product
We want to understand what this product is. I’m just going to call it “X”. It’s just some factor. This is what you want to create in the life of your prospect.
What you want is that everything lines up. Your actions and what you’re providing are going to be the same thing.
What exactly is going to get you paid? You want to make sure that this is going to line up and add up to this and that is where the money is going to come from.
Now, advertising seems to be a really popular way to monetize. But here’s the thing, in order to get paid for advertising, in order to actually make it VALUABLE and EXCHANGEABLE, you need to be making money for the advertiser. What they want is eyeballs and they want sales on THEIR website (not yours).
But here’s Mr. Blogger over here, and you are sitting here working and you’re trying to get eyeballs on your website. You want traffic. You want comments. That’s fine. It’s all well and good.
BUT if you’re just working so much on this, forgetting that you actually have to deliver qualified prospects to the advertisers so they’re going to be willing to pay you… then this is the mismatch
that can happen and that’s why a lot of bloggers have a really difficult time making good money with advertising.
But now, let’s look at something more along the lines of affiliate marketing or product creation…Again, we have the “X” that we’re shooting for which is the product that we’re shooting for and you know what it is that you want.
To get them to that and see the money, actions are going to be a matched up because you can promote affiliate products that are going to help your prospects get that. You can make your own products that are going to help people get that.
Everything is in alignment towards that. You’re not out there talking about something completely different. Everything is pointing to this direction of helping your prospects get this little product X
here and they’re happy about it.
That is how you actually make real money. And here’s the thing… if this is an exchangeable thing, if this thing that you’re helping them provide is something they assign a real world value to… Bingo! You’ve got yourself a business here!
So that’s really what it comes down to. That is the most important thing when it comes to monetizing a blog. The word “monetize”, the way it is traditionally used, is not a very smart word because it tends to be an afterthought.
What you provide on your blog is in alignment toward helping them achieve a certain product X like we’ve got on my screen, and your products, your affiliate products, everything you do is all
aligned around that… and that thing is actually something that people would be willing to pay for, then you’ve got yourself a business model.
Otherwise, you really don’t have a business model. Your actions don’t add up to something that makes money.
So, it really comes down to knowing what it is that you’re providing that is of value.
You’re providing eyeballs on somebody else’s website and that’s what you’re doing if you’re in the advertising business. OR you want eyeballs on YOUR website, in which case the most efficient way to monetize is to provide your prospects with some kind of an outcome that they need and want and you provide them solutions to get to that point, and BAM… you’ve got yourself a good solid business there!
Are you going to be at New Media Expo in Vegas? Well, I am too! I’m actually going to be speaking on Sunday, January 6, doing a blog monetization overview – answering the question of “What are your options to make money with the blog?”
I’m actually going to be covering 11 different ways to make money with your site and we’re going to do the whole thing based on the real solid premise that I just talked about and that is approaching it from the real business standpoint. No fluff, none of the crap that you’ve probably heard from a lot of other places even though we’re going to talk about mainly the business models you’ve seen before.
We’re going to be orienting everything around what it really takes to make money doing it. So, this is going to be down the brass text, we’re really looking forward to talking to you. That’s going to be Sunday, January 6 in Las Vegas at New Media Expo.
I’ll see you then!