Prerequisites To Monetize Your Blog
Two things are required, in order for you to start monetizing your blog.
1. Get your blog set up
And when I say set up, what I really meant is to get your own website (self hosted) instead of free blogging platform.
Most of the free blogging platforms do not allow you to monetize your blog and if you breach any of their terms and conditions, they have their rights to terminate your blog account without any prior notice. You can either set it up by yourself or get professional web design agency to do so.
2. Decent traffic to your blog
Without decent traffic going to your blog, it is impossible for you to monetize your blog. If you are the stage where there are not much blog traffic, what I would suggest is that you work out from there, and find out ways to drive traffic to your blog. There are no shortcut in building up blog traffic and it takes time to build it up.
Monetize Your Blog
Here are 3 proven ways to monetize your blog to generate passive income.
1. Affiliate Marketing
What is Affiliate Marketing?
To put it in layman’s term, affiliate marketing is a type of performance based marketing which you promote other people’s product, in exchange of commission. There are no startup cost involved, as you are not selling your own product.
Advantages of Affiliate Marketing
- No startup cost.
- Easy to pick up.
- Passive income.
Disadvantages of Affiliate Marketing
- Choosing the correct Affiliate program.
- Take times to build up credibility.
- Lack of control over the Affiliate program.
Types of Affiliate Program
1) Pay-Per-Click (PPC)
You are getting paid for each click to your advertiser’s web page or landing page.
2) Pay-Per-Sales (PPS)
You are getting paid for each sales of your advertiser’s product or service.
3) Pay-Per-Lead (PPL)
You are getting paid for referring a person who has express an interest in your advertiser’s product or service.
What is Sponsorship?
Sponsorship is a form of direct advertisement where you have to declare the name of company who sponsor this blog post.
Advantages of Sponsorship
- Always in demand.
- Quick boost in income.
- Add value to your readers. (If done correctly)
Disadvantages of Sponsorship
- Might tarnish your reputation if you didn’t research enough about the company or product.
- Active income. (Trading your time and effort for money)
Types of Sponsorship
1) Sponsored post
Publish sponsor content such as product or service in your blog.
2) Paid review
Publish a review on your sponsor's website.
3. Sell digital products
What is Digital Product?
Digital products are intangible products that you can sell virtually. The products are delivered digitally to your customer, usually via downloads or emails. E-books, downloadable musics and graphic designs are great examples of digital products.
Advantages of Selling Digital Product
- No shipping cost.
- No inventory needed.
- Instant delivery.
- High margin due to no production cost.
Disadvantages of Selling Digital Product
- Requires time and effort to create a value added digital product.
- Lots of competition due to the fact that digital commerce is blooming.
- Hard to demonstrate the value of your digital product.
BONUS - Google Adsense
What is Google Adsense?
Google Adsense is an advertisement program run by Google that are targeted to site content and audience.
Advantages of Google Adsense
- Easy to setup.
- Free to setup.
- Passive income.
- Hassle free as Google will provide you with the ads.
Disadvantages of Google Adsense
- Inflexible as if you choose to use Adsense, you can’t use other ad providing network.
- Unable to determine your earnings.
This sums up our tips on how to monetize your blog in 3 proven methods. The secret key to a successful blog is continuous effort. There are no surprise in how some blogs are making tons of money while others are struggling to survive.
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