Blogging to make money for your small business sounds like a great idea:
- Write about (or hire someone to write about) something related to the product or service you offer.
- Throw your words into cyberspace.
- Wait for new customers or clients to roll in.
Suddenly, your little writing project becomes a significant source of revenue for your business.
It is feasible to earn money online with your blog, but there are a few things to keep in mind to make the most of your efforts. If you want to monetize a blog, you need to be strategic about the niche or market you serve, build your audience, and use your reputation intelligently.
Knowing when and how to make money with a blog is as much a science as it is an art.
Monetizing a blog starts with a strategy
First, we should point out that while an existing or new blog can generate revenue almost directly, there are good business reasons to create one. Successful blogs are at the heart of many online marketing strategies for businesses. Long-form content (e.g., blog posts, white papers, and case studies) can give people the information they want and lead them down the sales funnel.
Just as you need to be strategic about incorporating blogging into a content strategy, you need to be equally strategic about monetizing your blog (and be prepared to put in a lot of hard work). First, you require to choose a niche with a demand for information.
As with any marketing or monetization strategy, you need to know what makes your potential readership tick to decide how best to reach them. Produce quality content that responds to, and make yourself a friend and authority that can eventually convert their interest into paying customers.
And once you have your blog content, you need to develop an effective SEO strategy to go with it. Successful bloggers know that keyword research and on-page content optimization are essential to draw the right traffic to their sites.
When to monetize your blog
To make your business a success, you need to focus on one area and produce valuable content that appeals to your target audience. As you become a well-known authority that attracts more and more visitors, you may wonder if now is the right time to monetize your blog and how to do it.
To monetize your blog, you must have a certain number of visitors. There is no magic number, but common sense must prevail. At the very least, traffic should be constant. If you have a lot of visitors, this is an excellent time to start monetizing your blog.
6 Ways to monetize your blog in 2021
Maybe you started your blog with the vague idea of making it a revenue stream for your business, but you don’t have a clear plan for its long-term profitability. The fantastic news is that there are various ways to monetize business blogs.
Below, we present six ways you can monetize your blog in hopes of generating a consistent revenue stream. Remember that you probably won’t generate revenue overnight; it will take continuous effort to reach that point.
1. Offer subscription-based content
Subscription-based content and services are becoming increasingly popular to charge customers – think video streaming services like Netflix and updated software are available for a monthly fee.
When you start a blog, you can initially offer free content such as articles, infographics, and guides. If the quality of your blog and free content is high, you may be able to increase your traffic enough to set up a paywall. With a paid membership site subscription, premium members have exclusive access to great content, expert advice, special forums, videos, and other benefits. You can charge a one-time access fee or require monthly subscription payments.
2. Start an affiliate marketing program
A common way to make money from blogs is to launch affiliate programs. For example, if you run a design blog, you can sell digital and physical products related to your business. That could include prints from photographers and illustrators you work with or templates from designers that others can use to create their newsletters or business cards. You could receive a small commission for each print an artist sells, which could add up if you get enough website traffic.
A company that uses an affiliate marketing program pays a commission to each affiliate who promotes or sells its products and uses tracking links to track sales and calculate the amount of the commission. For example, you might be a cosmetics company that pays fashion-conscious influencers to promote and sell your products through an affiliate program. This “passive” income has made affiliate marketing a global industry worth more than $12 billion.
Those interested in marketing other companies’ products can work through an existing affiliate network, such as Amazon Associates, which gives content creators access to millions of products they can use to monetize their blog traffic. Once the affiliate products program is set up, you can start earning passive income. You may also be able to contact individual companies looking for affiliates to promote their brand or products.
3. Create and sell an online course
Suppose you’ve worked hard on your blog and established yourself as an authority in a particular field. In that case, you could use your reputation to host a related online course, webinar, or workshop (promoted through your social media channels) that users pay to attend.
For example, if you’re a famous financial planner or small financial business, you could offer courses on preparing for tax season or saving for retirement. Or you could be an online marketer or marketing agency teaching the basics of search engine optimization (SEO).
4. Sell advertising space on your website
Online ads may not be universally popular, but they work – why do they still exist? The most common method to earn online advertising revenue is Google AdSense, which more than 2 million people use worldwide. With this service, you can block unwanted ads, specify where they should appear on your website, and choose which types of ads best suit your website.
If you don’t want to get paid for every click on an ad delivered by Google, you can contact advertisers directly and charge a flat rate for displaying ads. You can set up an “Advertise Here” link on your blog, contact the companies yourself, or use an ad network like BuySellAds.
Note that these solutions require that you have enough visitors to gain clicks or interest from potential advertisers.
5. Offer sponsored posts
As a small business, you might consider paying a well-connected or micro-influencer to write a blog post or review about your product or service if they have enough credibility in their field.
For example, suppose you’re an adventure travel company. In that case, you might ask a travel blogger to take one of your packages (the cost of which you’ll cover) on a whale-watching kayak tour in the Arctic and record his experience in a tagged sponsored post.
The post will only be credible and able to influence the buying behavior of other adventure travelers if the blogger is sincere in recommending your travel services.
Your company and the blogger must also make it clear that the blog post is sponsored. You could get in trouble with the Federal Trade Commission (FTC) if you try to pass off the content created for the sponsorship as organic. You could also be penalized by Google if the content is duplicated and the blog post’s position on search engine results pages (SERPs) drops.
6. Make ebooks available to visitors
One way to add value to readers and potential customers is to go deeper than your blog allows and create specialized, comprehensive content in the form of an ebook. Depending on your marketing plan, the ebook can be given away or charged for rewarding the effort that went into its creation. Either way, the ebook should underpin your credibility in the field of your business and serve as an essential component of your sales funnel.
For example, if you’re the adventure travel company mentioned above, you may have found that your website visitors have a keen interest in eco-friendly travel and technology-free vacations.
So, you could create an authoritative ebook titled “Guide to Sustainable Travel.” Travel methods and companies with the smallest carbon footprint, experiences that immerse visitors in nature but cause minor ecological damage, remote vacation experiences where all communication technologies are turned off, and so on will be part of this detailed guide.
This ebook would help establish you as an authority on adventure travel. Still, it would likely attract new clients as readers turn to you to create similar travel experiences for themselves.
It’s not easy for experienced or new bloggers to create compelling content that readers want to read, which gets them to act in your sales funnel. If you don’t have the time, interest, or skills to write your blog, Read from here: How To Use Blog Post Templates To Save Time On Your Blog