Are you thinking about starting a blog? Are you wondering if running a blog can really generate money? You see, many people blog for different reasons. I’ve had friends who started their blog just for fun. They wanted to share their life with others, but eventually, the idea of making money online will cross your path as a blogger.
There are many ways to monetize your blog and it’s not surprising to see someone monetize with multiple methods. What I noticed from top successful bloggers is that they only use a select few. They only monetize with methods that work for them.
In this article, I will break down different ways to make money on your blog, so you can make a better decision when selecting the methods that best suits you. Without further ado, let’s dive right in!
Method #1: Affiliate Marketing
Affiliate marketing is essentially making money by referring customers to a company. When the customers buy, you earn a percentage of the sale. The nice thing about affiliate marketing is that every industry has products for affiliate marketers to promote and earn commissions.
However, as competition grows, so does your effort to promote their products and services. No longer can you rely on pre-written scripts and a few copies and paste to earn a commission. Believe it or not, people are still relying on copy and pasting pre-written scripts and that’s why the majority are not making money.
When you are trying to increase conversions (sales), you need to think like a consumer. People who are close to the buying spectrum are more likely to search for product reviews to finalize their research. That’s why it’s very effective to write affiliate product reviews.
Before you continue with the rest of this article. Please check out the article that I wrote on affiliate marketing tips for beginners! The tips shared will help you significantly if you want to make money as an affiliate marketer.
Method #2: Contextual Ads
Displaying ads for networks like Google AdSense, Media.net, etc is a great way to monetize your blog. However, I strongly discourage using contextual ads on a new blog.
Here’s the reason why: You’re trying to build an audience, so it’s counterproductive to get visitors and sending them off to an advertiser just to earn a few cents.
In the beginning, you should focus on building a readership. Contextual ads are great only if you have lots of visitors. Without visitors, you will have a hard time earning anywhere close to a decent living online.
Method #3. Sell Ad Space On Your Own
Similar to method #2. You are going to offer up space on your website to display ads. However, when you sell ad space on your own, there is no middleman involved which means you make 100% of the money. There are exceptions though such as buysellads.com. They do take a small percentage of your income. However, they do have a marketplace for you to advertise your ad space.
That’s why I use OiOpublisher! It does the exact same thing and allows my readers to purchase ad space on my blog. I get to keep 100% of the money and have full control when it comes to allowing or rejecting certain ads. The only con I have for OiOpublisher is that they don’t have a sizable marketplace like buysellads.
The price for ad space is up to you, so you get to name the price. There are important factors to consider when pricing your ad space and trust me, your advertisers will do the research first.
- where is your traffic coming from? (United States, Australia, Canada, United Kingdom, etc).
- Also, are you getting targeted traffic? If you’re running a make money online blog, you wouldn’t want people searching for how to lose weight.
When it comes to selling your ad space, it is easier to just with 3rd party platforms because they manage the ads on your blog and helps collect the money for you. Unfortunately, they do take a share of your sales. Then again, they are working for you, so it makes sense to give them a cut of your profit.
Method #4. Make Money From Sponsorship
If you’re popular, money-making opportunities will come knocking on your door. It’s true! You see, companies are always searching for ways to get more customers. If you run a sizable blog with decent traffic, companies will naturally want to sponsor you hoping to leverage your readership, receive good backlinks for SEO, or just branding purposes.
Note: When an advertiser pays you for a backlink, they will almost always ask you to include a dofollow link from your content. Keep in mind, you run the risk of getting penalized by the search engines since you are accepting payment.
Here’s how it usually works:
- The advertiser produces the content for you. All you have to do is click on the publish button.
- The advertiser provides you with the keywords and details. You will have to then produce the content on your own.
How much you can charge per article depends on the size of your blog. The more popular your blog is, the more bargaining power you have.
Method #5. Produce And Sell Your Own Products
You don’t need to be a handy person or tech-savvy to create a product online. If you have an idea and you think it would help many people. Hire a product developer with the right skill sets to turn your idea into reality.
Once your product is ready for launch, you can sell it on your blog or affiliate marketer places and have other affiliate marketers promote your product.
What I would do is to get your product out their during the development stage. Ask affiliate marketers if they would be interested in promoting your product before it’s launched. Offer them a special incentive for being the first few to promote your product.—Give them the beta version and continue to update it as you go.
The hype is what drives sales! Look at Apple products, they sell out on the first day of release. Why? It’s because they’ve built enough hype around it.
Which one of these methods do I recommend? Well, the answer is, it depends. It depends on what kind of blog you’re running. There’s no such thing as a one size fits all money-making method.
Try them all out and see which one best fits you. If you have a lot of traffic, you might see success with contextual ads. You might not get enough traffic, so affiliate marketing might be a better option.
The point is, there are many ways to monetize your website, you just have to explore and see which one is most profitable for you.
Which method have you had success with? My readers and I look forward to hearing back from you. If you have any additional suggestions, comments, questions, concerns, please let them in the comment box below!