An Introduction to Monetization for Fashion Bloggers
Whether you started blogging as a hobby or with the goal of turning it into a business, the topic of monetizing your blog is one that can be daunting. When is the right time to monetize? How much should you charge? What tactics can earn you the most money?
While we can’t cover all of those topics in one post, today we’ll go over some of the most common ways to monetize your site and some basics to get you started on the path for each of your monetization options.
One of the most common ways for fashion bloggers specifically to get started in the world of monetization is through affiliate marketing. As an influencer, it’s a natural fit to link to products that your readers can purchase. Even if you don’t have a blog, many social networks (specifically Instagram) have dedicated programs that allow you to link to the products you’re featuring.
So how does affiliate marketing work? Most simply, once you are approved as an advertiser, you are given a unique link to use when linking to any product within that affiliate network. That link tracks purchases made through the link and pays you a commission (aka an advertising fee) that is typically a percentage of the sales generated. The more traffic and sales you drive, the more money you can earn.
Most online retailers offer some type of affiliate program. Amazon, as one of the largest online retailers, has a dedicated affiliate network while other companies may host a program through an affiliate network such as Commission Junction.
By placing ad blocks on your website, you have an opportunity to earn based on the number of impressions or clicks on ads generated by visitors to your website. Typically, you need to be receiving a large number of visitors on a regular basis for this to be worth your effort, but once you have it set up, it can be a steady stream of income.
Google AdSense is one of the simpler ways to get started. You place a piece of code on your site and Google places advertisements on your site through that code. While you have options to blacklist an advertiser who doesn’t meet your guidelines, you don’t have a lot of control about what ad content might appear.
You can also look for a more niche ad network like MediaVine, BlogHer or Federated Media but you need to have a more established site and audience before you’ll be accepted into these networks. All of these networks will take some percentage of the earnings between what they charge the advertiser and what they pay out to the content producer, but the fees are well worth the hassle of trying to manage your own proprietary ad network until you’re a very large brand.
While this is the most complicated way to monetize your site, it is realistically the best way to monetize it. Once you’ve built an audience, there must be something more you can offer them that is valuable. From a service, exclusive content, or physical products, bloggers have been expanding their empires through direct sales.
If a physical product is too daunting at first, consider an online-based service you could provide. Virtual styling sessions, personal online shopper, or beauty tutorials may all be things you can provide with the same resources it takes to run your blog. This is your chance to get creative and launch your own personal brand! And the profits are all yours.
Armed with a little information, we recommend you dip your toe into the monetization waters and find a tactic that you’re comfortable with for your own site. Even if you’re just getting started, you can find some options that will allow you to get a taste of turning your blog into a business.