If you’re smart about it, a blog can be more than just a marketing tool. A strategically designed blog can be a monetizable asset that pushes your business forward. Sounds good, right? Well, it requires a concerted effort on all fronts.
First off, you have to start with a specific idea. As entrepreneur Neil Patel says, “When it comes to creating a money-making blog, you don’t need a revolutionary idea. But, your blog should be focused on something specific.”
In order to have any possibility of monetizing a blog, you have to focus on designing and developing a blog that’s quick, engaging, and specifically targets your desired audience. Nail these aspects and there’s no limit to your potential.
Five Specific Ways to Monetize Your Blog
Patel has a lot more to say on the idea of developing a blog, but this article is about monetizing the blog. So, for a moment, let’s assume that you have a strong foundation upon which to build. Here are a few specific ways you could begin generating revenue.
When most people think about blog monetization, they immediately consider PPC ads. We’re putting them first on this list, but that doesn’t necessarily mean they’re the best. In order to really make significant money from PPC ads, your blog readership has to be massive. So, feel free to use them, but don’t expect a huge payoff early on. It’ll take years before you see much traction here.
Whereas PPC ads compensate you based on the number of times a user clicks them, banner ads allow you to charge advertisers for space. Many bloggers feature an “advertise with me” section on their blog and will offer a flat rate for a particular position and length of time. You’ll usually have to show proof of traffic numbers to charge your advertisers, but can generate a steady and predictable amount of revenue each week with this strategy.
Affiliate marketing is hugely popular right now and savvy bloggers can bring some solid revenue by aligning with the right partners. The key here is to be smart about which programs you get involved with.
“Choose your programs wisely,” blogger Angie Nelson says. “Don’t sign up for every affiliate program you come across in hopes you will get to it someday or because you heard someone else makes a lot of money on it. Start with a few trusted merchants you love and can incorporate naturally into your content.”
Premium Content and Courses
If you really focus on developing quality content that adds value to your audience, you may be able to upsell your readers with premium content. Examples of premium content include eBooks, audio books, educational courses, self-help guides, and more. You’ll have to become really good at marketing and sales to continue generating sustainable revenue, but this is a huge opportunity.
Most bloggers view their blog as a gateway sales tool, not the end product. In other words, the blog is what you use to build an audience. You then tap into this audience and sell them something of value. If premium content and courses aren’t your thing, maybe you could sell physical products. It’s easier than you think to find a product, private label it, and then sell it to your audience. Give it a try!
Patience is a Must
Above all else, you need a healthy dose of patience. You aren’t going to pull in four or five figures in your first month. You may not even generate three figures. Stick with it and focus on building your audience. It may take a while, but they’ll come.