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The 12 New Media Days of Christmas 2011: 12 Bloggers Monetizing

Author:

During the 12 New Media Days of Christmas, we’re counting down the days until Santa comes by featuring some of the best blog posts of 2011 from awesome writers within the BlogWorld community! Skip to the end to read more posts in this holiday series and don’t forget to leave a comment if you’ve written a post about today’s topic!

To start things off this year, I wanted to highlight a topic that I know is on many of your minds: Monetization.

Monetization can mean a lot of different things – everything selling ads on your sidebar to writing your own ebooks. I’ve gathered some of my favorite posts from 2011 about monetization across a number of topic areas; check them out!

Post too long? Head to the Quick Links section for just a list of the links included in this post without all the analysis and quotes!

1. Looking for Money in the Grass by Tom Webster at BrandSavant

Tom’s story of finding a $20 bill one day as a child perfectly describes one of the biggest problems in monetization today – junk science. In other words, we’re so hungry for an answer to how to best make money online that we don’t take a moment to verify facts or test a hypothesis. Worse yet, in my opinion, is that we’re willing to do what other bloggers tell us is “best” without taking the time to understand how these actions will translate to our own monetization efforts. Writes Tom,

We mine our tweets and retweets, and discover that noon is the best time for us to post. Or we discover that more of our emails are opened on Thursdays. In short, we look at historical data, and we find a $20.00 bill. We watch webinars telling us that we are more likely to find that twenty bucks on a weekend, or after midnight, or on a boat, or with a goat. We accept the easy answer – the “what.” We don’t ask the more difficult question: the “why.”

After checking out Tom’s post, head to @webby2001 to follow him on Twitter. You can also pick up the books he’s written: Twitter Users In America, The Social Habit, The Podcast Consumer Revealed or find him as the Vice President of Strategy and Marketing for Edison Research, a company best known for providing exit polling data for U.S. presidential elections.


 

2. How to Make Money Online Though Blogging and Writing by Kristi Hines at Kikolani

This is a different kind of post, focusing not on making money on your own blog, but on how to make money as a writer for other blogs. This is my main source of income, so it has a special place in my heart! Kristi’s post on making money as a blogger is amazing. I’ve been freelancing since 2005, so it’s rare to come across a post that is totally original and helpful. If you’re interested in making money online this way, this is a post you want to bookmark. She even covers topics like promotion in this post. Kristi writes,

No matter how you decide to make money online through writing, the one thing that you will need to do to make a good impression with the sites you write for is promote your posts. Blog promotion isn’t just for blogging contests. Blog owners and businesses will be more likely to want more content from you if your posts are some of the most popular ones on their site.

Like I said, this is one you’ll want to bookmark if you’re interested in getting paid to write blog posts. You can also find Kristi on Twitter @kikolani, add her to your Google+ circles, and check out her ebook, Blog Post Promotion: The Ultimate Guide.


 

3. My First Product by David Risley at DavidRisley.com

I love it people aren’t afraid to talk about some of the mistakes they’ve made or the processes that led to the success they have now. In this post, David Risley talks about his experiences mailing out CDs loaded with ebooks and software, and how the same ideas behind this product are still relevant today.

Writes David,

I eventually stopped selling that CD because times had changed. More and more people were using high-speed internet connections. And the medium of delivery was very much turning to the Internet rather than CD.

But, it all started somewhere.

With a necessity. And with me simply providing a convenience to my readers.

You can find David on Twitter @DavidRisley or add him to your Google+ circles. He leads The Inner Circle, an exclusive members-only club, as well as offers training programs for bloggers such as 3-Day Money and Blog Masters Club.


 

4. 101 Ways Monetize Your Blog Without Irritating Your Readers by the Inside CRM Editors

Holy list of resources. This is a fantastic post with over 100 links and tips to help you get started making money online. I love it when a post really delivers, and this one definitely does. They writers can compiled a list here that covers a huge number of monetization methods, from RSS ads to merchandizing to sponsored posts. From the post:

Blogging is big business these days, with some bloggers reporting six-figure or even million-dollar incomes. There are a number of ways that these bloggers earn such large paychecks, and the best know how to do it in a way that won’t scare off readers. Check out 101 ways that you can earn money from your blog and learn strategies for using these tools and methods in a way that’s reader-friendly.

Inside CRM is a great resource site for marketers and sales professionals. You can find senior editor analyst Chris Bucholtz on Twitter @bucholtz.


 

5. Should You Monetize Your New Blog Now or Wait? by John Chow at JohnChow.com

It’s one of the most commonly-asked questions: when should a blog be monetized. As monetization master John Chow says it best, though, there’s no right or wrong way to answer that question. It depends on your blog. However, just because you can monetize right away doesn’t mean that you necessarily should. In the post, John writes,

The right answer for you depends on what your goals for the blog are. If you’re goal is just to make a few extra bucks, then you can use Google Ads from the get go. If you’re looking to build a solid and lasting blogging business that will allow you to live the Dot Com Lifestyle, then my recommendation is to wait before putting on the ads. John Chow dot Com made no money for the first eight months of its life. There were zero ads on it and no affiliate promotion of any kind.

John then goes on to explain the reasons why waiting made sense for him and why it might make sense for you as well. After reading the post, you can find John on Twitter @JohnChow and like his blog on Facebook, where you’ll find information on how to download his Ultimate Blog Profit Model ebook for free.


 

6. Every Tool You’ll Ever Need To Create and Launch An E-Book by Jonathan Wondrusch at By Bloggers

Dudes. This is a seriously awesome post that really does include all the information you need to know to create your own ebook. It’s a super long post, but well worth the read, even if you’ve created ebooks in the past, because it will make your ebooks better. Even better, Jonathan includes both premium and open source/free products that will help you create your next ebook, so even if you’re on a budget, this post will be beneficial for you. It’s another “must bookmark” link! From the post:

While there are a lot of amazing tools to choose from, I realize that not everyone is going to be able to dish out the money needed for the higher end ones.  Mixed in with the premium products that are used in professional digital publishing, there are Open Source and free options included whenever possible.

Blogging Bootstrappers need to find a balance of keeping their expenses down, but also creating killer products.  With the tools listed, there’s no reason that won’t be possible.

Jonathan is on Twitter @bybloggers and you can also like By Bloggers on Facebook. In addition, he has a free ebook available called Epic E-Book Creation, and if you sign up for his mailing list, you’ll get the Bootstrappers Toolkit, which includes the The E-Book Creation Explorer’s Guide.


 

7. How To Increase Sales For Your Online Store By Tracking Custom Variables by Steve and Jennifer at My Wife Quit Her Job

This post is actually a follow-up to a post they published about using analytics tracking to improve their online store. Both are worth a read if you’re interested in merchandizing. Really, though, I find that their tips and techniques for using analytics to track sales can work for a variety of monetization methods, including affiliate sales and informational product creation. There are some fantastic methods outlined in this post.

Don’t get me wrong. The default tracking of Google Analytics is extremely powerful. But if you want to get down and dirty with specific aspects of your shop, you will need more power than what is provided out of the box with Google Analytics.

By default, Google Analytics spits out too much broad based information for you to interpret correctly. In order to effectively use analytics, you must learn how to filter out only the information you need and focus on what will make you the most money.

Also available on the My Wife Quit Her Job site, you can sign up for their mailing list to receive the free mini-course How To Create A Profitable Online Store In 5 Easy Steps. You can also follow them on Twitter @mywifequit and like the blog on Facebook.


 

8. 10 Quick Steps to Becoming a Virtual Entrepreneur! by Chris Ducker at Virtual Business Lifestyle

No matter how you’re monetizing, you need to start thinking of yourself as a business owner. In this post, Chris goes over nine steps to get started, and his awesome community chips in with lots of comments with more tips. There’s nothing “quick” about building an online business, but in actuality, when you break it down like Chris has in this post, it doesn’t have to be such a daunting undertaking. Writes Chris,

To become successful as a virtual entrepreneur takes more than just building a few niche sites and relying on Adsense (although we do enjoy it, don’t we VBL Niche Site Project peeps!?). I’ve taken a huge journey over the last couple of years, becoming more and more virtual as time has passed. And I’ve loved every minute of it.

So, today I thought it would be a good idea to create a small selection of tips and tactics for everyone to follow, if they are not ‘quite there’ in regards to ‘going virtual’.

You can find Chris on Twitter @chriscducker. He’s the virtual CEO of the Live2Sell Group, Virtual Staff Finder, and YourWebPA. You can also find him on YouTube and get his free ebook, Saving the Day the Virtual Way, by signing up for his mailing list on the Virtual Business Lifestyle sidebar.


 

9. A Counterintuitive Guide to Pricing Your Best Work by Tyler Tervooren at Advanced Riskology

I’m frequently asked how I price my services, and although I think the process is different for every person, I really like the argument that Tyler makes in this post: sometimes, you should give away your very best work for free.

Writes Tyler,

The rule I try to follow:

  • General and insanely useful = Free
  • Specific and insanely useful = Paid

The very best pieces of your work that apply to a general audience should be free and if someone wants it in a format that fits their unique situation, there’s a good opportunity to ask for a sale.

Don’t fret about giving away so much for free. That’s a silly problem, and I think too many people worry about it. Instead, worry about how you can give even more of your very best work away for free. When you do that, you find hordes of people paying when you ask them to even if they can’t personally use what you’re selling; they’re so happy with what you’ve given them already, they want to support you however they can.

Trust me, everyone; this post is worth a read. I’m into making money as much as anyone, but some of the points Tyler makes in this post hit the nail right on the head. After checking out the post, you can find Tyler on Twitter @tylertervooren and like Advanced Riskology on Facebook. He also runs the Guerrilla Influence Formula e-course and has a number of other products for sale at his store.


 

10. The Give Me Society by C.C. Chapman at CC-Chapman.com

On the other end of the spectrum from Tyler’s blog, there’s C.C. Chapman’s post about why you shouldn’t be ashamed to charge money when you have something of value to offer. I actually don’t think the two posts are in competition with one another – they both make the point that it is okay to sometimes do work for free, while other times charging for your time. I like C.C’s assertion that we don’t have the right to judge anyone for charging for a service or product. Writes C.C.,

I’ve been seeing more and more people complaining about individuals or groups deciding to charge for some of what they create. This give ME mentality reminds me of whiney first graders who can’t always get a cookie every time they ask for one. Not only do they want fries, but they want them drowned in gravy, covered in cheese and then fed to them by a half naked waitress with a cute smile. In other words, they want it all and they want it on their terms.

After reading the post, head to Twitter to find C.C. @cc_chapman or add him to one of your Google+ circles. You can also pick up a copy of the book he co-authored with Ann Handley, Content Rules.


 

11. Seven Ways You Can and Should Start Charging for Your Content by David Spark at Spark Minute

So now that I’ve included two posts about whether or not you should charge for your content itself (not just monetizing your blog with ads and the like), I wanted to highlight a post that reviews the different options you have for doing so, should you decide that this is the monetization route for you. This is a fantastic post from David Spark that covers everything from creating content tiers to fabricating scarcity. In his post, David writes,

Now that people are paying for digital content, and we’re making sense of what has value. How have people successfully charged for their content, and how can you do it? Here are seven successful techniques you can use to actually charge people for consuming your content.

Not all of these techniques are going to be right for you, but there are some good ideas here that you should be considering. After checking them out, you can follow David on Twitter @dspark and find out more about his social media company, Spark Media Solutions.


 

12. How to Create an Affiliate Program that Doesn’t Suck by Sean Ogle at Location 180 (Guest Post for Laura Roeder)

Normally, I try to include posts from the blogger’s own site, but this was such a great guest post that I just had to share it! One of the best ways to monetize is to create your own products, whether that’s some kind of informational virtual product (like an ebook or e-course), a physical product (like a print book or t-shirts), or an event (in-person or virtual like a webinar). To help make more sales, having a good affiliate program is key. In this post, Sean talks about how to make that affiliate program attractive. Remember, the more people promoting your products, the more sales you’ll ultimately make. Writes Sean,

Just yesterday I received an email about promoting a product that said this:

“Includes an incredible affiliate offer where you can make nearly 25% off every single sale!”

The product was $47 with a 20% commission and no other incentives.  I’m sorry but $9.40 just doesn’t excite me that much.

The reason most affiliate programs suck is because most owners of these programs care only about themselves.  They don’t want to devote the time and money to doing it right, which results in very few sales for you, and even less money for your affiliates – which let’s face it, is the whole point.

So how do we fix this?

Check out the post for the answer to Sean’s question, and then head to Location 180 to read more of his work. You can also follow Sean on Twitter @seanogle and join his membership community Location Rebel to learn how to build a virtual business. (This guest post’s host, Laura Roeder, is on Twitter too @lkr)


Quick Links

For those of you short on time, here’s a list of the links covered in this post:

  1. Looking for Money in the Grass by Tom Webster (@webby2001)
  2. How to Make Money Online Though Blogging and Writing by Kristi Hines (@kikolani)
  3. My First Product by David Risley (@DavidRisley)
  4. 101 Ways Monetize Your Blog Without Irritating Your Readers by the Inside CRM Editors
  5. Should You Monetize Your New Blog Now or Wait? by John Chow (@JohnChow)
  6. Every Tool You’ll Ever Need To Create and Launch An E-Book by Jonathan Wondrusch (@bybloggers)
  7. How To Increase Sales For Your Online Store By Tracking Custom Variables by Steve and Jennifer (@mywifequit)
  8. 10 Quick Steps to Becoming a Virtual Entrepreneur! by Chris Ducker (@chriscducker)
  9. A Counterintuitive Guide to Pricing Your Best Work by Tyler Tervooren (@tylertervooren)
  10. The Give Me Society by C.C. Chapman (@cc_chapman)
  11. Seven Ways You Can and Should Start Charging for Your Content by David Spark (@dspark)
  12. How to Create an Affiliate Program that Doesn’t Suck by Sean Ogle (@seanogle)

Other posts in the 12 New Media Days of Christmas series will be linked here as they go live:

12 Bloggers Monetizing (this post)
11 Emailers List Building
10 Google+ Users a-Sharing
9 Vloggers Recording
8 Links a-Baiting
7 Community Managers a-Managing
6 Publishers a-Publishing
5 Traffic Tips
4 New Media Case Studies
3 Must-Read New Media Interviews
2 Top New Media News Stories of 2011
And a Partridge in a Pear Tree

You can also check out the all the posts from 2010 and 2011 here , and don’t forget: If you wrote a post in 2011 about today’s topic (monetization), PLEASE leave the link in a comment below to share with the community!

How To Make Money on a Blog Without Banner Ads

Author:

Speakers: Zac Johnson, John Chow, Syed Balkhi
Session: Monetizing Your Blog Beyond the Banner Ads
Date: Wednesday, May 25
Time: 3:45PM
Location: Jacob Javits Center 1A17

… by John Chow

Many bloggers don’t like the idea of putting banner ads on their blogs. They are still stuck with the idea that a blog is just a communications medium and making money from it is somehow evil. Others think putting banner ads on a blog cheapens the look or makes them look like a sellout. I’m not going to debate whether you should have banners ads on your blog or not. What I want to show you is how you can make money from your blog (and a lot of it) even if you have zero banners ads.

Banner Ads Are Not My Blog’s Main Income Source

Many people look at the amount of banner ads on John Chow dot Com and assume that’s how it makes money. The fact is the banner ads account for less than a third of the blog’s monthly income. If I were to become an ad free blog, it would still make five figure every month. How is that possible?

The Real Money Is In The Backend

The majority of my blog’s income does not come from the front end advertising that you see. It comes from the hidden backend sales system. This system is invisible to the reader and doesn’t reveal itself until he subscribes to the blog. And that is the key to majority of the blog’s income.

When a new reader subscribes to my blog, he is pushed through what is know as an auto responder sales funnel. The funnel is designed to do three things:

  1. Build a one on one relationship
  2. Establish my brand and authority
  3. Recommend product that solves the reader’s problems

All this is done with the email auto responder feature of Aweber. When a reader subscribes to my blog, he is sent a series of emails that are custom written to achieve the three points listed above.

The income is made when a reader buys any of the products that I recommend. Because the relationship and trust has been formed, the reader is much more receptive to any solution that I recommend. A good sales funnel can easily make you $1 per subscriber per month.

By using a backend sales funnel that is hidden from the average reader, it is possible to have an ad free blog that makes more money than a blog littered with banner ads. To learn how to create your own auto responder sales funnel, read this post.

The Money Really Is In The List

In my post on How To Make 2011 Your Best Blogging Year, I said you must set up a mailing list if you don’t already have one. Well, this is the reason. Most of my blog income is generated by the mailing list.

Way too many bloggers concentrate on their blog front end banner advertising when in reality, that’s not where the money is. The money is in the list and the sooner you start one, the faster you’ll be in the money. If you don’t have a list, you are potentially losing thousands of dollars every month. Get started TODAY.

Blog Monetization Beyond Banner Ads

Author:

Speakers: Zac Johnson, John Chow, Syed Balkhi
Session: Monetizing Your Blog Beyond the Banner Ads
Date: Wednesday, May 25
Time: 3:45PM
Location: Jacob Javits Center 1A17

You did it! You finally made the decision to start your own blog and have finally made it to the point where you feel like you are an authority site, have a ton of great content to share with your readers and your RSS count and newsletter numbers are growing daily. However your revenue numbers have flat lined and you feel like you are blogging just for the sake of blogging. Why is everyone else making money with blogging and you aren’t?

Let’s cover three quick monetization methods you can use to take your established web site from hobby to potential full time job!

Create Your Own Product

You’ve already built a successfully blog ton of original content, why not expand on the same concept but with premium content or a learning course. Creating the perfect product for your web site will vary depending on what niche you are in, but it will also provide you with a completely new source of revenue that will be from something you created and own.

Build a Membership Web Site

If you’ve already created your own ebook or product, then a premium membership might be a great idea for your site. Memberships can be anything from a private forum, to having a members area filled with your best premium content that you don’t offer publicly on your blog. A membership can provide your blog with a nice monthly recurring income.

Sell Advertising & Review Products

If the idea of building your own products or membership programs seems too complex or overwhelming, you always have to option to sell advertising spots on your web site and review products that are related to your blog topic. Selling advertising on your web site is easier than you may think; you can sell directly or outsource to a third party. When promoting or review products or services in your niche, you can do this through affiliate marketing, which will allow you to earn a commission on every referred sale or lead from your web site.

These are just three simple ideas that could drastically expand the growth and revenue of your blog, while still offering a great deal of quality to your blog readers and not tarnishing their web site experience. If you are unsure which path is right for you, are scared of the idea of making money with your blog, feel free to ask you blog audience what they would like to see from the blog and if they would partake in “premium” services.

Learn More About Blog Monetization at Blog World New York

If you would like to learn how you can take your blog to the next level, and will be attending Blog World NY during May 24-26, 2011, please visit my session with John Chow and Syed Balkhi where we will be covering everything from beginner blog mistakes to full blog monetization.

Monetization Super Panel: John Chow Ad-Free Blog But Still Make Money!

Author:

In this two hour super-session, monetization experts offered the secrets of their success! Led by Jim Kukral, the speakers included Anita Campbell, Darren Rowse, Jeremy Schoemaker, and John Chow.

John Chow showed us how to have an ad-free blog but still make money!

He started off by giving us a glimpse at the Average Blog Business Model:

  • Produce content. Add Google AdSense
  • This business model doesn’t work
  • It requires too much traffic
  • The ad rates are too low

The main issue – when someone clicks on an ad, they leave your blog!

John’s Ultimate Blog Profit Model that he uses on JohnChow.com:

  • Capture the lead!  Get the email first and foremost (RSS, Twitter, Facebook are secondary).  Get leads with free incentives and start the list from day one.  John obtains leads by collecting newsletter subscribers and encouraging people to purchase his Free Ebook via a one-time Lightbox Popup and the Ultimate Footer Ad.
  • Build the relationship.  Have an automatic auto responder and then set up a series of emails to send out as a tie in to your free incentive.  Establish trust by building yourself as an authority.
  • Put the lead through a sales funnel.  Find targeted products to recommend (could be your own products or affiliate products) … but recommend … DON’T SELL!

Monetization Super Panel: Jeremy Schoemaker Shares His Strategies

Author:

In this two hour super-session, monetization experts offered the secrets of their success! Led by Jim Kukral, the speakers included Anita Campbell, Darren Rowse, Jeremy Schoemaker, and John Chow.

Jeremy Schoemaker (ShoeMoney.com) provided us with details on how he began making money and grew his income to over a million dollars annually.

Getting Started:

  • Don’t Expect to Make Money!
  • What’s Your Passion?
  • Focus on Building Your Content!
  • You Don’t Need Google!
  • Don’t Kill Your Site Before it Starts!

John says that he thinks his success is due to his connection with his audience by being open about his personal life!

Ways to Monetize:

  • Contextual Ads: Use Adsense as a starting point
  • Donations: Many people ask for/accept donations for hosting, etc.
  • Subscriptions: He collects emails and provides premium content/videos
  • Physical Goods: Selling products, books, e-books, etc.
  • Affiliate Marketing: Jeremy uses Amazon for any book/video links and a variety of other affiliates depending on the topic or email.
  • Direct Ad Sales: How do you determine a price for your ads? Jeremy says to start off by just charging $1! Nobody wants to be the first advertiser. If a site already has advertising, others are more apt to join. If you know who your target advertiser should be – just grab their banner as an affiliate marketing link.
  • Text Links and Paid Posts

ShoeMoney.com Income:

  • 30% Direct Ad Sales
  • 50% Affiliate Commissions
  • 20% Misc

Jeremy’s blog income for 2010 (as of October 1st) 1,832,342.23!!

Recommendations:

  • Prepare a media kit
  • Make it easy for advertisers to contact you
  • Follow up with everyone who is interested in advertising
  • Provide as many sizes and pricing as you can handle!

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