If your niche doesn’t allow you to promote or build premium products (anything over around $100 per unit) then think about getting a solid mix of offerings and building it up over time. I remember Darren Rowse saying that initially Amazon Associates was a really small source of income but over the years it has really started to add up. Think eBooks, affiliates, consulting, books, etc. and you’re starting to build an income stream.
Hi! This was hands down one of the most helpful posts I’ve ever read about how to make blogging a realistic career path. I love how honest and open you were in both suggesting the good but reminding me of the bad choices out there, some of which I know I would/have made. I found your blog after hanging my head from another post on yet another site saying to forget about blogging as your source of income. Completely ignoring that advice and seeking out some that matched my determination, I found yours and so glad I did! Thank you again for this awesome post – it’s officially made it into my favorites bar to come back to.
Some blogs are focused on getting paid to provide links to news articles, company stores, or other third party websites. The most financially successful of these range from the Drudge, a blog composed almost entirely of conservative-leaning news links, to Smashing Magazine, a site that provides advice and product reviews to help software developers.
Affiliate marketing is a blog monetization method in which you place a link to a product or company on your website or a social media platform in an attempt to make an income from followers purchasing the product through your link (this is called an affiliate link). Affiliate marketing can be a great way to begin making money from a blog because if there is a product or company that you enjoy, all you have to do is review the product and hopefully others will be interested in buying it as well.
OK, I’m going to show my age…a couple of decades ago, the public relations profession was in trouble and thoroughly misunderstood. As a profession, it lacked luster. So, the pros (me among them, though I was a cub then:) worked on a national public relations campaign for public relations. It worked. Public relations became recognized as a true profession, though there were and still are nitwits that don’t get it.
Affiliate marketing works in conjunction with several other online advertising mechanisms. This is the case because affiliates will often use these platforms for marketing purposes. Some of the mechanisms include search engine optimization (SEO), e-mail marketing, paid search engine marketing (PPC-Pay Per Click), display advertising, and content marketing. At the same time, affiliates can also appropriate less traditional advertising methods. An example would be publishing reviews of services or products.
Think of new article topic ideas. I have a long list of over 100 possible article topics that I keep on my laptop as well as on my phone. I think of the many, many topics that you'll find on Making Sense of Cents through life experiences, reader questions, research and articles that I've come across (like if I see a crazy statistic that I find interesting, I'll then turn it into a long article), and so on.
One attractive feature of promoting digital information products is that the commissions tend to be higher than that of physical products; ranging anywhere from 10% to 50% or even higher. As an example, if someone is selling a digital information product for $500 with a 50% commission - you can earn $250 per sale. This is much higher than commissions on physical products due to the high profit margins.
Digital products are another awesome way to make money with your blog. Rather than selling someone else’s product or service, you’re creating something of your own and selling it directly to your tribe. There are many options to choose from when it comes to digital products, but we’re going to look at what we’ve seen and consider to be the top three.
Just be aware that affiliate marketing with the wrong company can damage your brand. For instance, I started my blog w/ Blue Host because of Pat Flynn’s recommendation – which I am sure he was paid for. I am now on day 5 of my site, and e-mail being down, with NO estimate from Blue Host as to when it will be back up. As a consequence, I wouldn’t buy a thing he suggested or endorsed, because of my experience with someone he put his seal of approval on. Blue Host has a HORRIBLE reputation among the community, and I even wonder if anyone would “recommend” them unless they were being paid.
One of the great things about email marketing is that it is extremely cheap. Not only is it cheap, but if done the right way it is extremely effective. It allows you to reach your subscribers to provide them with information about your blog, and you can even choose how often you send an email. It is a great way to bring in customers and experience growth in revenue, whether it gets them to click through to your site, purchase a product or service or take interest in your blog.
And so, I guess my question here would simply be–would a person who follows your blog about TV shows be interested in paying for a TV-related webinar you created? Would a person who follows your blog about vinyl record collecting want to buy an online course from you? Would a person who follows a travel blog you created want to call you up for coaching lessons?
This is fascinating. I´ve been working in illustration for a couple decades now but i always lacked promotion skills over the web i guess. I thought that blogs were dead and gone and facebook and twitter was all that mattered nowadays but now i can see i was wrong to ditch my own personal blog for which i haven´t posted a single thing for five years or so…but even without posting i noticed today that i have around 25.000 visitors and people keep coming back… i definetely need to start paying atention to my blogs…
I want you to have realistic expectations, though. Those results are not the norm. My first month of monetizing my blog I made several thousands of dollars. But that occurred after I had been blogging for eighteen months. But do the math – I’m estimating my business will earn six-figures in ** the second year**. And I’ve never monetized a blog before!
If you want to really make money with your blog, you need to create a mailing list using one of the billions of email service providers out there. I use and love ConvertKit, but if you are just getting started and don’t understand sales funnels, sequences, or tagging you might want to start off with something simpler and free. If that is the case go with MailChimp where you get the first 2,000 subscribers free or Mailer Lite.
If you are new, obviously don’t try to fit all of these income streams in at one time. You should build on it and work on one at a time. Slowly build your income. Think of it in terms of a job. When you start out at a job you don’t usually start making the big bucks right away. After time and experience come into play, then you start making more and more money with raises and promotions. Now you can make a ton more money online than a typical job but it is the same concept!
Have in-depth knowledge in your niche? Package it up into an ebook and sell it on your blog. I'd generally advise against selling it (at least exclusively) on Amazon or Kobo, as you'll probably be able to charge much less. If you've already built up a solid audience, you can probably change anywhere from $5 for a very short one, all the way up to $39+.
These are some of the best I have read in a while Jon. Well, am a blogger in a relatively different online environment – Africa to be precise. Some things just don’t work out over here – ebooks no one buys them, mailing lists, no one joins them and very few people are willing to pay you to teach them anything. Hopefully, over time I will find the right formula to bissect this difficult market.
Of course, offering products and services doesn’t have to be mutually exclusive from using ads. You can do both, but what I see happen is that when you start to make $5 from ads you try to figure out how you can make even more and that becomes your focus. The tactics you use to boost your ad revenues are often the ones that prevent you from building your list and promoting your own products.