Part 04: How To Earn Money as a Blogger
For most people, the purpose of setting up a website/blog is to make money from it. Businesses will typically set up an eCommerce website, and from that they will sell their products and services online.
There are however a range of methods which I have shown below, that allow all the different types of bloggers, the opportunity to monetise their website/blog.
Is it possible to make money with my blog?
Before we look at the different options available, I want to answer this very important question. Many new Internet Marketers who build a new website/blog want to be able to create an asset that will make them money.
It is worth pointing out from the beginning that almost any type of website/blog has the potential to earn money. There are many factors that will determine the actual earning potential of a website/blog, but almost all of them have some type of potential to be able to generate an income.
What are the different options to monetise your blog?
As I mentioned earlier, there are a lot of different ways to monetise a blog. Just before we look at those, the most important thing to understand is generating one-off money versus generating a passive income. Let’s have a look at the difference as it is crucial to fully understand these two monetisation methods.
The simplest way to understand passive income is to consider the following. If you wrote a book, that would be a one time activity. You do a piece of work one time and that is it finished.
That book will continue to sell for many years and as such will generate what is called a passive income. That is, it will generate sales without you having to do anything else. If you think of artists who produce a piece of music, that is how this model works.
What Is Earning One-Off Money?
On the other hand if you created a website that sold services to a local business, then you will only get paid when one of those local businesses purchase one of your services.
As an example say a local business hired you to create a business plan for them. They would pay you to do that one time only. The only way you can earn money is to do more business plans for more businesses, and that means doing more work.
There is a very big difference between the two methods of generating an income from your website/blog.
In some cases you can have a mixture of both earned income and passive income.
7 Methods of Monetising a Blog
Below I have listed and explained the seven most popular methods for generating an income from your website/blog.
- Product & Service Sales
- Membership Websites
- Selling Your Own Information Products
- Consulting & Coaching
- Flipping Websites
- Affiliate Marketing
Product & Service Sales
This is known as eCommerce. This is a simple concept to understand. If you have a product that you want to sell or a service that you want to sell, then you can build an eCommerce website and sell your porducts and services online.
You would build your website as normal, but will then need to add the eCommerce elements of a shopping cart, checkout and payment options.
All of the bigger businesses will do this and many small to medium sized businesses will do this as well. There are also many small home-based or craft based businesses who do this, so it is a very popular choice.
It depends on the amount of products or services that you are selling, but these types of websites are a lot of work and will require regular updating.
With this method you can set up a website that offers free information to those interested in a particular subject such as “Learning Spanish.” You can then have a paying member’s section where they can get more detailed content.
Typically this will be a monthly subscription. This allows the website owner to set up a good monthly steady income stream.
The good thing about this type of website/blog is that you can get all of the work done and setup. That is a one time activity. The downside is that members will come and go so you will need to work at attracting new members.
Selling Your Own Information Products
This particular monetisation method has grown in popularity. The selling of knowledge is a huge industry. The principle behind this method is to build up your position in a particular market. You can then sell quality information to that market.
For most website/blog owners this information is produced in various formats such as:
- Webinars OR
- A combination of all of the above.
If you are the author and own the product then you keep 100% of the profit. You can also ask other people to promote your product, and share the revenue with them.
Like the membership method you can get all of the work done once. After that all you need to do is focus on promoting the website/blog.
Consulting & Coaching
Similar to method above this one is about establishing yourself in the market. In essence you will use the website/blog to build up your reputation in the market place. Quite often this is referred to as building your brand and attracting an interested audience.
You can then monetise your website/blog by offering your services to offline businesses. So as an example you could own a website/blog that shows small businesses in your local area, how to set up a website, use Facebook etc. You could then offer to do this for them for a fee. This is often referred to as local consulting.
This can be quite a lucrative way of earning money. The downside is that you will always need to try and find work and it will almost always be a new activity, so passive income is not really an option with this method.
A favourite method for many bloggers is to have advertising on their website. This is the first method that many new people start with and I did that myself. It is also the simplest method of monetisation.
With this monetisation method the website/blog owner concentrates on writing good quality content. That will then begin to attract visitors to your website/blog.
Once that happens, the website owner can then begin to place adverts that are relevant to their visitors. There are various network advertising opportunities such as:
- Google Adsense
- Tribal Fusion
You may also be contacted by other businesses that will pay you to place banner adverts on your website. You get paid when someone clicks on one of the displayed adverts. This method really only works well when you can get large numbers of visitors to your website. It is also passive income.
Another popular method to create an income online is to build websites and then sell them for a profit. This is essentially a trading market place. There is always a demand from people who want to buy a website where most of the donkey work has been done.
In this monetisation method you would build a website and do all of the technical set up with the domain name and hosting. You would then add some content. At that stage you would sell (flip) the website for a profit.
The downside of this is that you constantly need to be building new websites. If you don’t then you have nothing to sell.
Last but not least is Affiliate Marketing and it is my favourite method. Affiliate marketing is a great way to build up your income. With this method you offer the products of others to the visitors to your website/blog and you then get paid when they buy the product.
In essence you can write about something that you have an interest in. Then on your website/blog, you recommend a relevant product or service to your visitors, and include an affiliate link on your website. You will be able to see this on the case study website/blog that I have built at theperfectgrind.co.uk.
This is what is called true passive income. You write one piece of content and when visitors come to your website, then they will read that, and a percentage of them will click on your affiliate link and buy the product. You will notice on this website/blog that I use Amazon as my affiliate partner.
I have also included some Google Adsense adverts as they neatly fit in with the structure of the website. I do not use a lot of adverts as that can put visitors off and also become very distracting from your content.
Those are the main methods of monetising a website. The one you decide to go for will depend on the type of online business that you want to do. My preference is as an Amazon Affiliate as I find that the most enjoyable.
I have also discovered that Amazon is excellent at converting visitors into buyers. When you add some Google Adsense adverts to that it can generate two very good methods of passive income.