- Blogging is an inexpensive and low-risk way for creators and business owners to build an online audience.
- Depending on the size of your audience, you can partner with different advertisers to run display ads.
- Another profitable way to monetize your blog is to sell your products or services.
There are a million single business ideas that any aspiring founder can pursue. However, I think blogging is one of the best options due to its ease of getting started, low startup cost, and scalability.
When I started my blog, all it took was getting my domain and hosting set up and then choosing a CMS provider so I could start creating content. Running my blog for the past two years has been an exciting journey. You have learned a lot about the field of digital marketing and what drives traffic to a website. One of the important lessons I learned is that no one will visit your website in the first few months of its existence. If you are facing something similar, feel free. Create a consistent production schedule, see if you can get some writers to help for free, and try guest posting on other blogs to boost your credibility.
I also learned that when starting, make sure you don’t start too wide. For example, if you want to start a blog about plants, start with a blog about dandelion plants for example. The more specific, the easier it is to categorize the terms you want and the less pressure you will feel to cover multiple topics.
Besides the beginners tutorials, here’s what I learned about how to monetize a blog. You can use display ads, affiliate sales, or sell a product or service.
1. Ad display
Display advertising, which can be set up with Google Ad Sense, is the fastest and easiest way to start monetizing your blog. The problem with this approach is that it is also the least profitable approach. Your revenue per thousand visitors will be between $0.30 to $2.
As your blog grows, you can start partnering with more exclusive ad networks like Mediavine, which requires a minimum monthly traffic of 50,000 people, or Ad Thrive, which requires a minimum of 100,000 people monthly traffic. Depending on your niche, these networks will pay you anywhere from $10 to $40 per 1,000 visitors.
2. Affiliate sales
The second method, affiliate sales, is when you get a commission every time you sell another company’s product. This is the recommended approach for most people in the blogging space, as you don’t need to get past the hurdles of creating a product on your own. Also, you don’t need as much traffic as you might need from display ads to make a living.
The disadvantage of this approach is that you have no control over the product or service you provide. At any time, the company you are promoting can discontinue their product or lower their commissions.
3. Sell a product or service
The last way you can monetize your blog is by selling a product or service. This is the most profitable approach but it comes with the most risks. When you start your blog, you will not have any traffic. So not only do you have to go through the time and financial commitment to build a product or service, you also need to do all the necessary steps to grow your traffic.
The most common approach you will see is to start with affiliate marketing. Then, once you have solid cash, build your product or service in the same space and direct your visitors to your offer rather than your affiliate offer.