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7 strategies to monetize your blog for increased profits
When you first get into blogging it will feel like a huge burden to do everything all at once. There are loads of courses out there telling you what to do and digesting all of that could be difficult, all while building up your blog and bringing in targeted traffic to click on your ads, purchase your eBooks, get in the eyes of big businesses that may want to sponsor your blog, etc.How to Monetize Your Blog
We know that blogging will be around for a long time, so getting started now doesn't mean you're going to fall behind due to the thousands of bloggers within your specific niche. Over time you'll become an authority within your niche and have thousands, possibly hundreds of thousands, of subscribers waiting for your next article. Now, in the beginning it isn't as easy as you would think, you can't just make a wish and traffic will appear and money will flow into your account. You have to put in the time before you see anything positive happening
The problem with bloggers trying to make money from their blogs, and failing, isn't because they were posting the wrong content or just running a bad blog in general. The problem is they don't know exactly how to monetize their own blog to increase their profits. For that reason, I've written up this discussion about how you can monetize your blog for increased profits.
We all know there are dozens of ways to monetize a blog, but there really are 8 main ways to do this effectively and get the best results out of what you're doing. You don't have to follow all 8 of these points I'm going to cover when one or two will work just fine.
Posting Affiliate Links
Affiliate marketing is one of the most popular forms of making money online right now because almost anyone is allowed to sign up for a system and push their links across the internet. Have you ever joined one of those "Advertise your business for free" groups on Facebook? Well, I would recommend not joining them because all that is advertised there are affiliate links from people not understanding how to capture an actual client lol.
One reason people like getting into affiliate marketing is because they don't usually have their own products but want to sell something and make a commission from the sale.
What you'll have to do is find a product or service related to your blog and put a few affiliate links to the product on your website. When someone clicks through your link and makes a purchase, you get a commission from that sale.
I'm sure you've come across plenty of websites that have banner ads on their pages. These websites make money for each click that is going through those ads or getting paid a one time fee at the beginning of the month for the banner to show all the time. I personally like the one time up front fee because I can usually get more clicks than if I were to pay for a PPC platform pushing my banners. Basically, my CPC is usually lower if I pay the one time fee compared to paying per click through something like Adwords.
Once you're getting a lot of traffic, at least 10,000 uniques per day, you can start charging a premium for your ad placements. You can easily get $100+ per month if you're getting 300,000 unique visitors to your website every 30 days. And remember, you can have multiple ad spots that will rotate various banners. This means you can have 3 sections for ads that allow different sizes, each ad can rotate 10 different ads and you'll get $100 for each placement. This is just a quick example, you will have to play around with the numbers to get a closer estimate
Newsletters and Email Marketing
When you hear Email Marketing, you probably think you're going to be spamming people, but that's far from the truth. Sure, there are plenty of people out there who scrape together emails and blast out the same message to all these people and have a very low success rate. With proper email marketing you'll need to build up your list and send out newsletters that people will actually want to read. You can use third party services such as MailChimp and Aweber to capture your emails and automate the newsletter process.
You'll be able to build a connection with your readers and bring them back into your blog through these emails. You can also add in some affiliate links to the emails and vouch for the specific service or product and watch the sales roll in if your list is large enough
A good rule of thumb is that you can make roughly $1 per month from each email you have legitimately gained to your list. This means that you have a capture system on your website and people willingly sign up for your newsletters. If you have 1,000 emails on your list, and you didn't add them yourself, you can expect to make around $1,000 a month from these people. Imaging if you had 100,000 emails of 1,000,000
Sell Niche Related eBooks
This is no new method to making money online, people actually did this when the internet started and they still do it today. The only difference is that now you can get your eBook on websites like Amazon and have a broader reach to pull in more buyers
Ebooks are a fairly quick way to make money if you write down how long it takes to compose the book compared to how long it will actually make you money. There are some people who wrote up an eBook 10 years ago and it's still making them plenty of money today
Of course, you'll have to update the book fairly often if you're in an industry that is always changing, like SEO, but that's just something you'll have to deal with in order to stay ahead of your competition.
You'll need a great cover image and you will also need plenty of diagrams, charts, and examples within the eBook in order to keep people interested and eventually they will share where others can get your book. You could always post a 50 page eBook, with no images, but people will quickly stop reading and move on to a different one. Or you could turn that 50 page no image book into a 200+ page eBook and people will pay more than they would for the 50 page book without images lol.
Sell Courses on Your Blog
You can sell your own courses or sell spots to someone elses course, it's up to you. If you're selling spots in someone elses course, you won't be seen as the authority within your niche since you're basically saying "Hey, here's someone that knows a lot about our industry! Listen to him instead of me!" and they will go to his blog and stay there. But it's up to you whether you want to sell your own stuff or someone elses.
If you sell your own courses, you need to make sure they are top notch. You can't have some 10 minute course and expect to make $97 per person. If you have a 1 hour course for $97 and it's jammed full of useful information, people will buy it. You will just need to create some teaser trailers in order to get them interested and then they will sign up
Selling Digital Services or Products
A digital service or product can pretty much be anything. You just need it to have value to your viewers and they will likely purchase it. I have an SEO blog where I promote my own SEO services. Now, the content I post is free but if they want me to actually perform any SEO or marketing no their website, they will need to sign up for my services. This is a great example of selling a related digital service on your blog that will help others who are reading your content. If you run a motorcycle shop that sells various bike parts, start blogging about motorcycles and promoting your business, you'll likely get a wave of customers coming in and purchasing from you because they see you as the authority
Selling your own digital service and products can take up a lot of time. You will have to keep blogging as well as performing tasks for the new clients, and this is why a lot of people will outsource the work as a sort of white label digital service. They can be the middle men while someone else works on the service and when it's finished, all you have to do is send a report
Coaching and Consulting
It's amazing how many people are starting to get into this coaching and consulting niche. I've done it plenty of times over the course of my career and it's pretty good money. I remember one time I didn't even have to leave my house to consult someone, we just did everything over Skype and teamviewer, and I made $3,000 for a week of work
I was actually sick when they wanted to do the consulting and I told them we would have to postpone it a week until I was better, but they didn't want to. I pitched the skype/teamviewer idea and they loved it. I went over everything that was needed to know in order to get their website to the top of the rankings and how they could do it themselves, and I got paid at the end of the week
Consulting and coaching won't make you a decent amount of money in the beginning because you'll need to have a decent following before anything picks up. You don't need thousands of people talking to you each day, but 300 to 500 will be a good start. You can pair up your coaching and consulting service with your newsletters and email marketing to get the biggest bang for your buck
These are some of the main ways you can make money through monetizing your blog. You won't get rich overnight, but if you stick with it, you can make plenty of money to quit your nine to five daily grind
I've written for many blogs, as well as my own, and I've done all of the above methods so I know they work. The bigger you get in your industry, the more you can make from a single ad space or service, so stick with it and be the big man on campus in your niche
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