The internet provides a great environment for making money. However, while some people kick ass at it, there are many other bloggers who give up on the endeavor just a few months in. I’d advise you not to give up because while it’s really easy to start a new blog, it takes a lot more time and work to make a substantial amount of money from your blog.
If you take the right direction, have a sound plan and work hard enough, you’ll see yourself make a comfortable living quicker than you think.
With that said, I’ve compiled a list of five ways you can start with to make your blog monetization journey smoother and faster.
Depending on what your blog is about, most – if not all – of the following methods can help you earn a living from your blog. However, some methods might not work for you. And that’s okay. Where one method doesn’t work, another one will. Besides, this is just a handful of ways to monetize your blog.
- Pay-Per-Click (PPC) Advertising
As the name suggests, PPC advertising is a method of earning where you’re paid as per number of clicks.
To start advertising, you find a PPC ad provider that you sign up to. The provider will assign a code that you’re supposed to place on your blog. It’s that code that the provider will use to send text- or image-based ads to your blog. These advertisements will be in the context of the type of content you have on that particular page. For instance, if you’re writing about car insurance, you might get an ad about a local car insurance provider.
Since not every page visitor will click on a particular ad, the amount of money you make is heavily dependent on the average amount of traffic your blog receives.
Another main determinant of the amount of money you make is the Cost-Per-Click (CPC) of the ads. The higher the CPC, the larger the amount of money you’re likely to get from a certain number of clicks. For instance, two blogs, A and B displaying two different types of ads – financial products and children’s toys, respectively – and getting the same number of clicks per ad, will see blog A make way more money than B. This is because of the difference in the price of the products they’re advertising – financial product ads can yield as much as $1 per click while the latter could only average a few cents. This isn’t to say that one product is superior over the other. Remember, the number of clicks matters too and you might find a larger number of people interested in children’s toys than financial products.
To encourage your visitors to click on ads, pay close attention to your blog’s design. Besides encouraging people to stay on your blog and boosting traffic, the design is also about how responsive the ads are. Also, the ad placement – which is largely dependent on your blog layout – is a major factor into encouraging click-through. For instance, the space before and after a blog post is highly visible. Placing an ad there could increase the number of clicks.
- Cost-Per-Mile (CPM) Advertising
This is pretty much the same as PPC advertising. However, instead of being paid by the number of clicks, CPM advertising gets you paid by the number of page views or impressions you get. Calculated as per 1,000 impressions, it means that if you display one $1 CPM ad and your blog gets 300,000 views in a month, you’ll earn $300 for that month.
Just like in PPC advertising, the success of CPM ads can largely be affected by the placement on your blog. Higher-placed ads generate more money. Also, bigger ads will generate more money due to their higher visibility.
Another factor is the traffic. You’ll earn more money if you have a large amount of traffic and a high page-view/visitor ratio.
There are several CPM ad providers out there but the more reputable the provider is, the higher the amount you’re likely to be paid for the ads. This is due to the fact that reputable providers have more access to high quality advertisers that pay more.
- Text-Link and In-Text Ads
Text-Link advertising is where you insert text-based ads in your articles. For example, say you’re writing a post about a certain skin-care product. You can place ads within that post so when a reader clicks on the hyperlinked text, they’re directed to that product.
However, you don’t just link to the product without an agreement and expect to earn for it. You have to first sign up to the particular product’s affiliate advertising scheme (See Affiliate Marketing below). You can also go through a specialized provider that will let you sign up and automate that service for you.
This type of advertising works well because, unlike some other methods, it’s not intrusive to put off your audience.
In-Text advertising is similar to Text-Link advertising. It also involves placing ads in your blog content. Once you sign up to a provider, you allow them to insert sponsored links into your text. To make them conspicuous, the in-text ads are double-underlined and when a reader hovers the cursor over them, a pop-up appears. If that reader clicks on the pop-up, you earn.
Unlike Text-Link ads, In-Text ads a little more obvious and are more likely to put people off.
However, if used properly (sparingly), they can provide you an extra stream of income from your blog.
- Advertising Space
This is another lucrative way to monetize your blog. By selling some blog space to advertisers, you can earn for as long as their advertisement banner is there. This method cuts out middlemen allowing you direct contact with advertisers and giving you an opportunity to charge what you want.
The deal is usually that you display a particular ad on your blog for a specific period at an agreed fee.
Again, the success of this method heavily depends on the amount of traffic you receive on your site. Also, it will require some time investment as you’ll have to co-manage the process with the advertiser.
- Affiliate Marketing
Most of the above advertising methods can be termed as affiliate marketing but one of the most direct ways of affiliate marketing is through product endorsement.
For instance, if you run a beauty blog, a manufacturer could come to you requesting that you promote their product. You could then write a post covering the factors that make a good skin-care lotion and towards the end of the article, you could promote that affiliate product by endorsing it.
Another way to make money through affiliate marketing is through product reviews. Using the example above: You could instead write a blog post specifically about that product i.e. for example “Why I love Skin-Care X”.
With affiliate marketing, you earn a commission for every sale resulting from your recommendation. The commission is usually 10 – 20% of the sale price although sometimes the percentage is more, even going up to 75% in some instances.
There’s No Limit
There are tens of other ways to make money from your blog. Some hinge on one or two of the above methods while others are stand-alone. Once you start with these, you’ll see that it’s indeed possible to make money blogging and welcome any new opportunities. However, keep in mind that, as easy as it seems, it takes a lot of investment (in time, money and effort) to make money from blogging. The important thing is to not give up whenever you’re faced with a challenge.
Do you make money from your blog? What other ways do you recommend that new bloggers use? Let’s talk below in Comments.