How to monetize your blog?

Nadejda

· 11th November 2021·Blogging

How to monetize your blog?

This is not another article that will reveal the secret of how to become a millionaire on the Internet. In this article we have gathered in one place the basic principles that will help you monetize your personal blog or podcast, step by step, and we will share the different ways to make money from an online project. I do not promise you that it will be quick and easy, but you will lay the foundation for your future successful business.

Why do most blogs disappear?

The word "blog" itself comes from "weblog" or an online diary in which everyone publishes what excites them. In most cases, a major topic takes over and bloggers start posting more material about it. This leads to more readers who are interested in this particular area. The snowball effect is obtained and the blog becomes more popular, more specialized, and more professional.

At one point the creators of these online diaries start wondering if they can make money from their posts, video channels, or podcasts. And they start looking for ways to monetize their work. They read hundreds of articles (like this one) and apply the suggested ways. A small part of them succeed (no more than 2-3%) and turn their hobby into a source of income. Years later, again, a small part turn this side business into a large and profitable company

What happens to other blogs that don't make money?

Unfortunately, they are disappearing. If bloggers don't find a way to monetize what they do, their enthusiasm soon evaporates and their blog dies. This is the main reason for the disappearance of so many good and useful online blogs. Of course, there are people who continue to write for years about everyday things that interest them, such as some stupid TV show, or why their best friend has become vegan, but they eventually give up. Whatever we talk about, if you have a blog and don't monetize it at some point, it will disappear.

Statistics.

What value do you create?

It has already become clear to you that in order to continue writing with the same aspiration about the things that excite you, it is good to start earning some money. You should associate the amount you receive with the value you create for people. Yes, the VALUE. Think about the value and benefit you give to people. Is this just new and interesting information? Is there a different view on a topic? Do you show them step by step how to do something? Or do you inspire them to do great things?

How do you measure this value?

Is it just the number of posts, videos, or podcasts, or is there another way? What is the value of a post for proper pricing, which can bring us profits, if we apply the method correctly?

The results are easy to measure in training and individual consultations, but more difficult in articles. One option is to see how many people have visited your blog. This shows which materials are more readable, but the reason may be in the title, the picture, or something else. The surest way to find out what value we create for our readers, listeners, or viewers is to ask them. Run surveys of email subscribers on the free newsletter (which is already weekly) and carefully analyze the results. The best questions you can ask are "How do my materials help you?" And "What results did the articles on the site bring you?".

Of course, when it comes to things your readers haven't done before, the results don't come right away, and the process is a little more complicated. It is not enough just to describe how to change our diet and record a video with the easiest exercises for weight loss at home. The result will be zero. First, we need motivation and a mental attitude to do something. You have to convince our brain, which wants everything to be old (yes, that's right), that change will not be so difficult and will be worth it. After the motivational materials, you can proceed with some simple principles that can be applied quickly and painlessly. If there are results, even small ones, readers will want more. Then comes the turn of the technical materials, and only after you invite them to buy your individual training program or diet.

Many bloggers accept that people are ready to make some useful change in their lives, but they just don't know exactly how, and if they read somewhere how to do it, they will do it right away. Wrong! The Internet is full of "How to lose weight in 5 easy steps", for example, but it does not help overweight people. If we were to read books and articles, we would all be slim, rich, and in the perfect relationship. We need transformation, not just information. Try to convince a 3-year-old to do something without a carrot and a stick, ie. without rewards and punishments. It will be quite difficult.

Don't immediately think that you have to solve some serious human problems, such as what to do in an earthquake or how to bandage a bleeding wound. In fact, the seriousness of the cases is relative. For a person to teach his dog not to go anywhere in his house and eat his slippers is an important problem and he is actively looking for a solution and would pay for it. For another, it is important to learn how to meet women (men), and for others - how to tie the hook on the rod. The greater the "pain" for the person, the more he is willing to pay you, and the higher the price.

How to monetize your blog?

So how do you make money from your blog?

There are many ways, but for a start, we will suggest you try something that works. Do you know exactly what your readers, listeners, or viewers need? If you are not Henry Ford or Steve Jobs, who knew exactly what to offer their customers and were not particularly interested in their opinion, you (most likely) are far from them and it is better to ask your potential customers how to benefit from you and how much they would give for your products and services (doing such research is not easy and the questions must be carefully selected).

Advertising

Try different ad networks, for example, Google AdSense. Their platform is easy to work with, the ads are relatively targeted and they are honest with the payment.

Many bloggers don't want to let something happen at random. They want to do as many promotions as possible to maximize their chances of generating revenue through their blog.

Affiliate marketing

Affiliate marketing (affiliate program) is a form of cooperation between businesses that sell online and site owners (bloggers) who place links of those businesses’ sites on their sites.

Bloggers who participate in the promotion of products and services on the principle of affiliate marketing are called affiliates.

Businesses pay the affiliates part of the number of sales or a fixed amount for each customer.

Selling digital and physical products

This is one of the more likely ways to monetize a blog. You can sell things like e-books, audiobooks, online courses, manuals, guides, and many other digital products. The good thing is that once produced, they have no additional costs and once you cover the costs, the rest is pure profit. It's not easy.

The other option is to sell physical products in an online store, and you will resell them and earn the difference between the purchase and sale price. At a later stage, you can start producing your own products to carry your brand. This will give you more control over the whole process and higher profits.

Subscription

This is the best business model, not just for a blog. We are used to receiving free quality articles, videos, and podcasts, but making them costs money, time, and effort from their creators. In order to continue to do useful and practical things, they have to monetize their hobby in some way, because otherwise they will give up and we will all lose. Many quality blogs have disappeared in the last few years, and that's the main reason.

Of course, not everyone is willing to give money for something they've received for free before, but that's how people who really need your content and are willing to show their trust.

Nadejda
Nadejda Milanova

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