Blogging can be a profitable investment and is a good opportunity to make money while writing about a concept you are passionate about.
With a strategic plan, anyone can enter the world of blogging and if done successfully, they can rely on their blog as a sole source of income.
Ways to monetize your blog
Whether you have an existing blog or looking to set one up, there are several ways you can monetize it, as we discuss below.
1. Display ads
Google AdSense offers an ad service which selects adverts to appear on your blog, relevant to your content.
This is an effective method of securing a consistent income through advertising and eliminates the need to deal with advertisers directly.
By selecting relevant adverts, more potential buyers are likely to be targetted and more commission will be given to the blog owner.
Google AdSense offers two types of adverts, pay-per-click meaning you are paid every time a visitor clicks on an ad and pay-per-impression which means you are paid every time someone views the ad on your page.
For a successful blog, this is a great way of earning money from the high volume of traffic your blog receives.
Alternatively, if your blog receives a lower volume of traffic there are other platforms available so you can start monetizing your blog immediately.
Shout Me Loud Blog recommends starting with no more than one or two ad units and reminds bloggers to stay focused on the quality of their content.
As an alternative, bloggers can utilise private ads which allows them to set their ad rates. Therefore, there is more potential to earn a higher rate of pay per advert you feature on your blog.
This is likely only to be a possibility with blogs receiving a high volume of traffic and bloggers will often find that advertisers will approach them directly to discuss advertising space. This can be in delivered in the form of banners, links or even sponsored posts.
As suggested by Blogging Basics, a great way to maximise the potential of private ads is to sell space within your email newsletters.
For example, a client we regularly write marketing material for, Leigh’s Nurseries, send out monthly newsletters to clients, which include the parents of children based at three different locations across Newcastle upon Tyne.
Paid advertisements for local children’s events and activities or new baby formula would also be relevant to their client’s needs and requirements.
Therefore, this would be an effective use of privatising advert space and would likely see a high rate of commission, based on how many clients are interested.
2. Affiliate schemes
Another way to make money from your blog is to include links to products and services on your blog.
The advertiser will give you commission based on any traffic that comes from your link.
Your link is unique, therefore, the advertiser can track your affiliate code and identify which customers are coming from your blog.
However, this is dependent on whether the visitor you provide makes a purchase or conversion.
Bloggers often develop partnerships with brands and promote multiple products, increasing the likelihood that their followers will see an item they want to purchase.
Similar to adverts, this can be included in your blog in the form of banners or within your copy.
3. Sell your products
Although the sole purpose of your blog may be to share published content, once established it may be a good opportunity to start selling your products.
The most cost-effective method is to digital products that your followers can download at a cost.
Digital products could be in the form of ebooks, online courses or apps and often hold a lower production cost, so there is more room for profit.
Having established yourself within your field, especially for successful blogs, readers are likely to already value any content and information you can share.
However, it is important you research what would be useful to your readers and what you can be certain they’d spend money on. Therefore, make sure you listen to your followers and develop products relevant to your blog.
To secure a consistent income, it may be worth offering your readers the opportunity to sign up to a membership.
This could grant access to assets such as a monthly newsletter or job board for example.
4. Sponsored content
To secure sponsored content, it is essential you promote your brand by attending network and blogger events and establish connections with other bloggers and companies.
Making yourself more known increases the likelihood of being approached by bigger brands who will pay more for sponsored content.
This can be in the form of blog posts entirely dedicated to a product review or a relevant post with an accompanying ‘Brought to you by X’.
For example, makeup brands will often sponsor bloggers to use one of their products in a makeup tutorial to increase their exposure and the possibility of a purchase.
Again, bloggers receive a commission based on how many of their followers purchase the product.