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Money, money, MOOLAH!!!

Money

Money

Money. It’s what drives our day to day lives, what makes us get up for work in the morning and what makes us have to go back again every day. But, can you make money from Blogging? Sure you can! There are plenty of ways to make a ton of money from your website or blog – all you need to do is implement them. Most of us remember the early days of internet computing in the late 1990’s / early 2000’s – you couldn’t move for flashing ad banners everywhere and, “Click the Monkey!” pop-ups wherever you turned. These methods of monetization still exist of course, but there are much subtler, nicer and less excruciatingly annoying ways to get your audience to generate some revenue for you.

Of course, one of the first things to realise before even considering any kind of money making plans – you need traffic first! Without a stream of incoming viewers of your content, it doesn’t matter if you have concocted the greatest monetization plan of all time – there’s no-one there to click your links or follow your clever strategy. Once you do have a decent audience to sell to though, there are many avenues you can pursue with relative ease.

  • Advertisements: Ah, good ol’ ads. We all know how they work, and a lot of internet companies make a fortune with advertising, either buying or selling ads. However, this is actually a fairly old media revenue model, and even if your site has an incredible, regular volume of traffic, it is still quite possible to earn next to nothing on the ads. This is especially true when you consider the fact that advertising is in fact, one of the most labour intensive ways of monetization on a website/blog. You have to drive a significant amount of traffic to make the ads worthwhile to begin with, and make sure to keep the ads as relevant to the content you’re posting as you can, to ensure a high click-through.
  • Membership Programs: The so-called “Freemium” models that are being widely adopted today. Many websites are offering a certain amount of their content for free, and requiring the rest to be paid for, either with subscription plans or a pay-per-view system. Although this may sound a little off putting, it works surprisingly well – if the prices are reasonable.
  • Affiliate links: If you are posting content about a certain topic and there are products that cater to the audience of your content, you can recommend or advertise those products to your audience – when anyone buys the product you showed, you can receive a cut of the sale. This is also highly effective, and can make a significant income, again depending on the relevance of your strategy (Don’t sell Cat food on a Dog lovers website!).
Example: amazon.com
  • Ask the audience: While not exactly the most reliable or effective method of gaining revenue, there are options to ask for donations, if you feel that advertising just isn’t right for your context, or if you just don’t want to make your audience pay anything more than what they feel like. Often, suggesting that the money is going towards a certain goal, or that they are simply buying you a cup of coffee for your hard work is more effective that just a simple “Donate money here” button.
Examples: www.twit.tv | www.doubletwist.com (in the app, it provides a link to, “Donate Blood!” as a joke)

Monetization is easy. Good monetization without driving away your audience is much more difficult.

Sources:
http://www.davidrisley.com/top-10-blog-monetization-strategies-ranked/
http://www.blogtrafficexchange.com/how-to-monetize-your-blog
http://www.entrepreneurs-journey.com/652/my-top-7-blog-monetization-methods/
http://www.focus.com/fyi/101-ways-monetize-your-blog-without-irritating-your-readers/

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