Whether you started your blog as a business or a hobby you’re going to want to monetise it. Of course if you started it as a business then you need to think about monetisation from the very beginning.
If you started it as a hobby and you’re ready this site, then the chances are that you’re blog has grown and is now starting to cost a significant amount of money and time to run every month. Which means…
…you need to monetise it!
There are many methods of monetisation that are available and some are more suited to different styles of sites than others.
What I’ve put together here is a list of the best monetisation methods across all types of sites.
1. Building A Mailing List
There is no doubt that the number one method of monetisation of a blog is by building a mailing list. While this won’t directly generate revenue, the result is that you can promote whatever you feel is high enough quality to your mailing list.
If people are reading your blog then they want to read your content. If they want to make sure they get access to all of your content then they need to join your mailing list for alerts of when you’ve published a post and for any content that is only available via email.
Anyone who signs up to your mailing list WANTS to read your emails. Which means that if you recommend a service to them then they will buy.
Of course, you want to treat your mailing list well.
Don’t recommend services that are low quality or you haven’t investigated. If you do that more than a few times then you’ll find that your readers stop listening to what you’re saying and move on.
But… if you have a mailing list of people who love your content and trust your advice then there is no better way to monetise your site than using your mailing list to recommend services which you take a commission on.
2. Display Adverts
I’m sure you’ve seen on loads of blogs the adverts that are displayed in the sidebars and above or below articles. Sometimes these ads are even displayed in the middle of articles. Although personally I think that breaks up the content in a bad way.
You can either sell your ad space directly to advertisers, through a bidding platform such as BuySellAds or by using a company like Google Adsense or Chitika.
The question is do they work?
Yes they do. But you’re going to need some serious volumes of traffic to make more than a few pennies .
However, if your site is getting some serious traffic then these can be a very good way of making an extra income from your site.
Another option is to create adverts for your own lead magnets. When someone clicks on the advert it takes them to the optin page for the lead magnet and if they optin then they join your mailing list. This can be a very effective way of getting more leads from the traffic you’re already receiving.
3. Build Your Own Products
If you’ve got a strong audience then there is no better way to monetise them than by creating your own products and services.
You already have an audience of people who love your stuff. Create a survey and ask them what would really help them to achieve their goals.
What you have now is a pre-written list of product ideas that your readers have told you they would be interested in purchasing.
Start with the most popular and build it out. You can then promote it to your mailing list and through the use of adverts being displayed on your site.
There is going to be a lot more work involved in making your own products, but the amount of revenue you can generate from them is going to make it worth your while.
4. Create A Membership Site
You’re obviously already creating content that people love. That’s awesome, keep doing it.
But what are you offering the people who want more than what you write about on your blog?
They want more…
- Details on strategies
- Advanced techniques
- Methods you haven’t shared yet
- Information on the tools you use
- And more…
Well, for these people you can create a paid membership area. Once they join they will get access to all this information which isn’t on your blog.
It’s a great way to provide very high quality content and information as well as build a recurring revenue stream for your website.
5. Use Sponsored Posts
Sponsored posts can be a very good way of making a profit. There are two reasons somebody would pay for a sponsored post on your site:
- For SEO to get more links back to their website
- To gain visibility and reinforce their brand
I wouldn’t recommend that you accept any posts for SEO. This isn’t approved by Google and you don’t want to get hit by them in the future for a little bit of extra of cash right now.
However, for companies that are looking to gain more visibility and want to use your reputation to do that. Then this can be an excellent way to start monetising your site.
Ideally you should employ a variety of monetisation methods on your website rather than rely on one.
Using all the above approaches will give you a rounded approach to generating a revenue from your website. Some can be implemented immediately whilst others will take a bit of time to put into practice.
However, all of the above approaches are some of the most powerful ways to generate a revenue from your website.