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Today I have a guest post by Lauren, who is the creator of Brit On A Budget where she posts about innovative ways to make and save money. You can follow Lauren on Facebook and Twitter.
Everybody wants to make money, and you might have heard that blogging is an easy way to make some extra cash. Maybe you are looking into making a blog or you already have a blog that you are beginning to drive traffic to? In this how-to guide, I will be exploring some of the ways in which you can profit from running a blog.
One of the most popular ways to monetise a blog is to use affiliate marketing. This is where blog owners can promote other people’s products and earn a small percentage of revenue from every sale. This is useful for when you are just starting out and you don’t have your own products or services to sell. If you have ever seen a disclaimer on a blog that the author will receive a commission if you purchase a product through the links on their page, this is an example of affiliate marketing.
Affiliate marketing works best when you only promote products that will benefit your readers, such as products you would recommend even if you weren’t getting paid for promoting them.
Affiliate programmes are completely free to sign up to, and once you have signed up you will then receive a unique link that tracks your affiliate code. You can earn a commission once someone clicks through to your link or on your banner ads and goes on to purchase one of the products you have promoted. Check out Sue’s in-depth post on how to smash affiliate marketing here.
Another common way that bloggers make money is by placing ads on their site. There are 2 popular types of ads:
The most popular ad network is Google Adsense, although how much you make depends on your traffic and how many people are willing to click on your ads. With Adsense, you simply place one of their banners on your site and Google chooses ads relevant to your content. If you find Adsense doesn’t work for you, there are similar programmes such as Media.net and Mediavine although you need to reach 25,000 sessions per month to be approved by Mediavine.
- CPC: Cost per click ads are usually banners that are placed in your content or sidebar. Every time a reader clicks on the ad, you are paid for the click.
- CPM: CPM ads, also known as ‘cost per 1,000 impressions’ are ads that pay you a fixed amount of money based on how many people view your ad.
Blog coaching and consulting services
Consulting is another popular way to make money through your blog’s traffic. With these services, you charge a fee to give feedback to your readers. For example, if you blog about social media, you could charge £50 for a one-hour Skype session where you discuss your client’s social media strategy. To be successful using this method, you will need to attract loyal customers who are willing to pay for your help.
Create and sell online courses
This monetisation method is becoming more and more popular among bloggers wanting to make money. It’s easier than ever to create and sell courses online using third-party platforms such as Teachable or hosting them directly on your site. Similar to coaching, online courses are a way to turn your knowledge and expertise into passive income. After the initial work of creating the course, you can keep making money providing new students join your courses.
To decide what to create your course on, get an idea of what topics your current blog readers are interested in or want to learn more about. This may involve conducting some market research to determine what your target audience is focused on. With these topics in mind, develop an in-depth course that provides a solution to your blog readers, and make it relevant and useful to them.
By creating an eBook, it means that the information you have written is always accessible to your reader, carries more authority than a blog post and makes the reader more invested in the subject you are writing about as they have paid for the content.
eBooks are simple to create, and you can publish them with Kindle Publishing or PDF Downloads. You can easily promote the eBooks you have written directly through your blog by creating content to draw people in and then entice them with your eBook. You can also build a sales funnel which will sell your eBook on autopilot.
A sponsored post is a blog post that you are paid to publish on your blog. This may be written by you or by the advertisers. Sponsorships are a great way to make money from your blog, however, you need consistent blog traffic to make a decent amount of money. In accordance with FTC regulations, you should always mention it is a sponsored post.
There are a couple of ways you can bag a sponsored post:
- Pitching: You can actively contact and pitch to companies or advertising agencies first and see if they would like to collaborate
- Create a ‘Work with Me’ page: Outline your rates and how much it would cost to write a sponsored post and wait for companies to come to you
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