Your blog is an asset, but is it a good one?
Every good asset makes you money over time. Whether they are stocks, real estate, mutual funds, or a business, you invest in them because you believe they are good assets. Right?
A blog is one of the best digital assets you can own, provided you can make money from it.
This brings us to the core essence of this guide - how to monetize a blog.
Now, your current blogging situation may look like one of these groups:
Whichever group you belong to, you will feel confident in turning your blog into your personal cash cow after this read.
We have scoured the internet to bring you the most comprehensive list of blog monetization strategies, each backed with real, profitable examples and tips to get it right.
It’s time to learn to make some money online.
Your blogging business needs two integral elements - Audience and Monetization Strategies. Let’s learn the importance of each of them.
Your blog's audience includes all the people who visit your website to consume content. They make you money in two primary ways:
So, logically, the more audience (traffic) you can attract to your website, the more money you can make.
Explaining how to increase your blog traffic can be a separate article in itself. In the meantime, here are some excellent SEO tips to help you with your traffic goal.
If people have a wallet to store their money, your monetization strategies are the different techniques you can use to extract money from them ethically.
Figuring out the suitable monetization methods for your blog is fundamental to a successful blogging business. Without a monetization plan, you will fail to extract value from your audience's attention to your incredibly helpful content.
It’s time to dive into this extensive list of potential monetization methods for your blog.
An inspiring example supports every strategy, along with practical tips for maximizing its effectiveness.
Affiliate marketing is a revenue-sharing model where you earn a commission by promoting someone else's products.
The way it works is that you promote a product or service, and then when someone takes the desired action through your link (purchase, form submission, etc.), you get paid a commission.
For 31% of publishers in the U.S, affiliate marketing is among the top three revenue channels. The overall affiliate marketing industry is also expanding, giving you ample opportunities to grow your blog through this channel.
Pat Flynn is one of the most successful affiliate marketers out there, having made over a whopping $3 million in affiliate revenue to date.
After being laid off from his job in 2008, he delved into making money online via affiliate marketing and other sources. Today, he runs a dedicated website, SmartPassiveIncome.com, to help entrepreneurs build successful online businesses.
Valuable tips to make affiliate marketing work for your blog:
Display advertising is a form of advertising where someone can pay to place images or video ads on your website.
These ads are usually sold on a cost-per-click (CPC) or cost-per-1000 impressions (CPM) basis.
Typically, you would implement display advertising on your website through ad networks like Google AdSense, Taboola, and others.
Display ads are a great option to make consistent and effortless income from your blogs if you are already pulling in healthy traffic. Depending on the CPC rates for your blog niche and country, you can make anywhere from $1 to $20 per click.
For example, Ron Stefanski from OneHourProfessor.com, who started his online publishing journey in 2014, makes thousands of dollars in revenue from his online portfolio of websites with a primary focus on display ads.
Valuable tips for using display advertising in your blog:
Online courses are a hot topic in the blogging world right now. They're one of the best ways to make money as a blogger, and they can be an excellent way to establish yourself as an authority in your niche.
For example, partners Alex Nerney and Lauren McManus started first with a health and fitness blog, Avocadu. They were successfully able to grow the blog to six figures in earnings. Riding high on confidence and the intention to help others replicate their success, they launched online blogging courses on Create and Go. They made approximately $480,000 in 2021 just from selling their courses.
Valuable tips to make money from selling online courses via your blog:
Consulting and coaching services are a great way to earn money as a blogger. You can use your expertise and knowledge to help others solve their problems or achieve their goals. This is especially useful at the beginning of your blogging career when you don't have a vast readership and your monetization options are more limited.
Do you believe that your loyal readers can benefit from personalized interactions with you? Then you should launch a consulting service in return for a reasonably high fee to make it viable.
The U.S. personal coaching industry is estimated to be valued at $1.34 billion in 2022 alone.
For example, Maria Killam, a sought-after home stylist, and decorator, offers personalized eDesign consultation services at a profitable price.
Valuable tips to make money selling consulting services as a blogger:
Sponsored content is advertising where businesses pay you to write about their products or services. Writing reviews of products and services is one of the common types of sponsored posts.
For example, Alexis, who runs the blog Fitnancials.com, makes $3000+ per month from writing sponsored posts. She typically charges between $750-$1500 per post and $100 per social media share.
She has been so successful with this strategy that she also offers a course teaching others to make money with sponsored content.
Valuable tips to make money with sponsored content:
A paid membership is exactly what it sounds like - people paying money for exclusive access to content and resources from you.
Paid memberships are also a great way to build a community around your blog. It's one of the fastest ways to grow your email list and create loyal readers who will stick with you for years to come.
For example, Dean Bokhari makes $100k a month from his membership platform, DeanBokhari.com, which offers members exclusive access to self-improvement resources like articles and podcasts. He uses a subscription model charging $10 a month for unlimited access to his resource library.
Valuable tips for running successful membership programs on your blog:
E-books are digital books that you can download from the internet and read on a computer or mobile device. They have become increasingly popular among bloggers in recent years, with some of them even earning thousands of dollars per month from their e-books alone.
Some bloggers write e-books because they want to make more money from their blogs. In contrast, others simply want to share their expertise without going through traditional publishing companies and agents, which could take months before your book gets published.
For example, Carol Tice runs MakeaLivingWriting.com helping freelancers achieve their monetary goals with writing. She has made $45k selling multiple e-books and explains her journey in a self-authored piece.
Valuable tips to make money selling e-books:
Digital or information products are essentially any digital content you can download or access online.
These include, but are not limited to:
For example, Maliha has been running The Side Blogger's website since 2018. She started selling Canva templates in early 2019 and now makes $2,000+ every month just from selling this digital product. She has set up a fantastic shop on her website for her readers to browse and buy Canva templates.
Valuable tips to make money selling digital products:
Donations are a social form of monetization for bloggers. In this type of monetization, you get paid when your visitors donate any amount to your blog. Please note that it is not a high-income method.
The majority of bloggers who accept donations do so because they want to earn an income from their blog without relying on methods of monetization that might affect the quality of their content, like ads. These bloggers usually provide some kind of value for free on their blogs (like tutorials). They then offer a donation option so that people who like what they do can show their appreciation by giving them a small amount of money.
Valuable tips for raising money for your blog via donations:
Since you blog about your niche, you already would have gained specific skills. Offer these skills to others as a freelancer. You can make a pretty healthy income depending on what type of services you can offer.
Here are a few freelance service ideas as a blogger:
For example, Elna Cain used her blog, ElnaCain.com, to build an online presence, then started offering freelance writing services.
Valuable tips to make freelancing work for you as a blogger:
Related Read: How to make a breakthrough in freelancing
While physical products require much more logistical effort to sell than digital products, they have a lot of potential to make you good money via your blog's storefront.
Here are a few reasons you should consider selling physical products via your blog:
For example, MensXP from India started as a content company in 2009 and, as of 2022, is one of the most-visited men's lifestyle publications. They have leveraged this audience base and launched a series of products under their website's sub-domain, shop.mensxp.com.
Valuable tips to make money selling physical products as a blogger:
It's a common practice among serial bloggers to sell their blogs. It's done all the time, and it's not unusual to find sold blogs on sites like Flippa. In fact, some people have sold their blogs multiple times over the years, making millions of dollars.
For example, Marc Andre sold his first blog for $500,000 in 2013 by scaling it for 6 years before that. You can read more about this fascinating story from him here.
Valuable tips to get the best deal when selling your blog:
Now you know how super-profitable blogs are making money online. They’re using the same monetization techniques that we shared above with you.
It’s time to act on this valuable knowledge and work toward turning your blog into a cash cow.
Remember to be patient and persistent in this exciting journey.
And don't forget to help some fellow bloggers by sharing this guide with them.
Write 10x faster, engage your audience, & never struggle with the blank page again.