Monetization is the process of converting a blog into a revenue-generating asset. Blogs are becoming increasingly popular with more and more people using them to share their thoughts, opinions and experiences. With the right monetization strategies, bloggers can make money from their blogs.
There are many ways to monetize a blog, such as advertising, affiliate marketing, selling products or services and sponsored posts. Each strategy has its own advantages and disadvantages but they all have one thing in common: they can help you generate revenue from your blog.
In this article, we will discuss the different ways to monetize a blog and provide some tips on how to make money blogging. We’ll also look at some of the most popular blog monetization ideas so you can get started generating income from your blog today!
ways to monetize blog
Here are some solid strategies other bloggers have used to monetize their blogs in different niches and show you how to do the same on your blog.
1. Become a freelance blogger in your niche
One of the easiest ways to make money from your blog is to become a freelance writer for a more prominent blog in your niche.
Companies are looking for someone who can create content that makes marketing easier. Hence, it is better to create the content than someone who is knowledgeable about the niche.
You may not be able to collect these fees at first, but the fees will increase as your expertise and reliability increase. However, be careful not to charge too low at first.
Billing $ 10 for an item may seem like an easy way to get customers, but in reality, if you ask for skill, it can turn away quality customers.
Since we are into pricing, it can be difficult to determine how long it will take to complete a task. We, therefore, recommend that you bill your customers per project and not per hour. I just started working as a freelancer.
Invoicing based on the project itself means you will be rewarded sooner for completing the project and your customers will know how much to prepay.
2. Sell your e-book to your audience:
Selling eBooks is one of the most common ways bloggers monetize their blogs. It’s relatively easy to make and perfect because it’s generally good enough for most visitors to purchase.
E-books are also a low-risk way for website visitors to determine the value they can bring before buying a more expensive product.
There wasn’t much traffic on his blog because he was only a consultant at the time, but David was able to make over $ 13,000 on his e-books.
3. Create and sell courses online:
Another way to monetize your blog is to sell your courses online. What stops most bloggers from creating their own courses is that they believe they have to be some kind of expert to offer a course.
But that is not true. All you need to do to actually teach a course is know more than the person you are teaching and be able to present that information in a way that people can appreciate.
4. Start the coaching/consulting business:
Rely on individual coaching (or advice, depending on the type of service being offered) as you may need more detailed and personalized instructions than a book or course can provide.
Coaching, or advice, is a monetization strategy that the most successful blog owners who sell books and courses trust when they want to generate additional revenue streams.
Not only established bloggers, but also consulting can be a monetization strategy from the start.
Like most monetization strategies banks have already covered, they use their skills and experience to help people solve life problems.
5. Offer a paid membership plan:
As companies using the subscription model become more popular, some people are starting to call it the subscription economy.
Netflix, web hosting providers, and membership sites are all part of the subscription economy.
The membership page is the entry-level area of online business where members sign up monthly or annually to receive exclusive benefits.
The people in the community share a common interest and the benefits they pay include exclusive articles, tips, reports, webins, face-to-face meetings, and being around like-minded people.
Not only can you reach more people with membership sites, but you can also give everyone a sense of community and belonging.
6. Make money with display ads:
There is a lot of hatred of display advertising in the blogosphere. Most people can’t do anything decent with it, so talk about how bad a monetization strategy is.
Most of the time, they’ll be right, but there’s a reason display ads are still popular despite all the bad news.
The reason for this is that they work and are the fastest, if not the most profitable, way to start monetizing your website.
In fact, some bloggers start out with digital advertising until they find a more profitable monetization strategy. For some people, the first few dollars are enough motivation to keep blogging.
7. Become an affiliate marketer:
You can’t publish an article about monetizing your blog without mentioning affiliate marketing. This is one of the most common ways bloggers make money online.
In fact, affiliate marketing supports many websites, about 15% of digital media industry revenue comes from affiliate marketing, and affiliate marketing in the US promotes as many e-commerce orders as emails.
Affiliate Marketing receives commissions on all sales that help promote and introduce other companies’ products.
Affiliate marketers work like most marketers. They promote and sell the company’s products and help someone earn commissions on their purchases.
8. Generate income from sponsored posts/reviews:
Making money from sponsored posts and reviews is one of the less common ways to monetize your blog. Probably because a successful blog requires a lot of traffic and reliability.
With sponsored posts and reviews, bloggers charge the company for blogging about their products and giving their opinions. The product will be made available to the blogger audience and the brand will gain more exposure and new customers.
When you think of influencer marketing, your mind will quickly pull up the images of the influencers you know on Instagram and YouTube.
However, writing sponsored blog posts is influencer marketing and is currently exploding. More than 63% of businesses are already using an influencer marketing plan to spend more this year.
Influencer marketing is already experiencing tremendous growth, with a market size expected to reach $ 6.5 billion in 2019.
9. Sell physical products to your audience:
Another way to monetize your blog is to sell your product directly to your audience. Some bloggers can even move on from selling just a few articles to starting an entire eCommerce website alongside their blog.
The popular Beardbrand e-commerce store, for example, began as the blog of founder Eric Bandholz, who wrote about beard care before Beardbrand launched the beard care products we know today.
Eric made his beard blog a business featured in The New York Times’ Shark Tank, which now makes over $ 100,000 a month.
10. Sell digital products to viewers:
Perhaps the best way to solve a viewer’s problem is to use software and digital downloads instead of physical products.
Clay Collins came up with the idea for Leadpages through a blog about landing page optimization. When Clay started offering landing page templates for free, he realized that people wanted more.
If you have skills other than blogging and e-book creation, don’t waste them. If you know how to code, you can create WordPress plugins or software and sell them to your current audience.
You can hire a developer at any time without having any programming knowledge. Omar Zenhom from Webinar Ninja created the first version of his product with a developer hired by Freelancer.
11. Start a virtual summit in a niche market:
If you are up to date on internet trends, you have probably heard of or attended a virtual summit before.
Please note that virtual summits and web conferences are different from webins.
Currently, the Virtual Summit itself is usually free, but only accessible for a limited time. The organizers are maximizing the revenue from the sale of the “All Access Pass,” which allows attendees to view meeting materials at any time.
12. Accept donations on the blog:
You can also monetize your blog by allowing viewers to donate. This is especially effective for nonprofits.
You can accept donations using WordPress plugins like giving, Charitable, and PayPal Donations.
13. Start the podcast:
Podcasting is exploding right now. As of April 2019, there were more than 700,000 active podcasts and more than 29 million episodes, according to Paid Insights. More and more people around the world are listening to podcasts.