A friend told me that he would like to build a site that earns him income on a monthly basis. It is possible to make money from your site, but it is important to have realistic expectations. Blogging is not a get rich quick scheme. It takes hard work and is not going to happen over night. So be prepared to work smart and to put in the effort in order to achieve your goals.
Most sites will fail to earn any income, so it is advisable to keep your day job and start working seriously on your project in your free time. If you do make it, blogging allows a very flexible lifestyle. You can work from anywhere in the world and you don’t even need to work all the time as your site and content archives can work for you around the clock.
3 ingredients necessary to make it work
These ingredients are needed to be able to bring in the revenue from your site. Make sure you have these sorted first:
- Monetizable topic. The topic you focus on has to have a buying market. Some topics are tougher than others so make sure your topic has an audience interested in spending money if you want to monetize the site. See if there are products on the market that are relevant to your topic. See: How to pick your topic.
- Valuable content. You need to create value for your visitors to be able to retain some of the traffic you get, to have your visitors spread the word about your work and to start building trust with your visitors. This means you need to have expertise in your topic and offer something that people find useful and valuable. See: How to create great content.
- Targeted audience. You need traffic to your site. Without people visiting your site and without having a loyal and targeted audience, it will be very hard to get any revenue from it. Targeted audience is what sponsors want to reach. See: How to grow traffic.
8 ways you can make money on your site
There are several different ways you can earn an income from your site. These are the most popular options:
- Become an affiliate and review products you are using
Find opportunity in markets and products you are familiar with. Are you using a product that makes your life easier? Have you read a book that inspired you? As long as the product is targeted and relevant to your readership, become an affiliate and promote it. There are thousands of companies who will pay you commission for sales that you generate through your content. This is called affiliate marketing and is arguably the best source of revenue.
Finding these affiliate opportunities is simple, just do a Google search for products you like with “affiliate” added on. Or alternatively join one of the larger affiliate networks like Commission Junction, Clickbank or Shareasale. Create valuable content about the product, help people use the product better, show how the product can improve their lives, and get revenue when they click your link and buy the product.
- Pay-per-click ads
Google Adsense is one of the easiest ways of making an income through your site. You place a piece of code on your article and Google automatically lists ads relevant to the topic of your post. Google pays per click and depending on the popularity of the topic you write about, a click can earn you anything from few cents to several dollars. Negative side of Adsense is that many people have banner blindness (many visitors dismiss banner ads as they find them intrusive), tend to find ads annoying and ignore them. You also need a large amount of visitors and clicks in order to earn a decent amount.
- Create your own product
Develop something that is genuinely helpful to people, that solves some kind of a problem that they have. Package the product in a specific format and sell it. E-books, webinars, courses, and membership sites are some of the popular formats. This is quiet similar to reviewing and recommending your favorite products, but the benefit of this is that you keep all the income yourself. It does take more time and effort to create the product though and you also have to consider customer support.
- Sell your own time
You could sell your own time. You can become a consultant and charge for people to have one-on-one coaching with you. You can become a freelancer and get paid to create content for other sites. The negative of this is that you obviously need to work and produce something of value to get a one-off fee. This makes it not as passive as some of the other income options in this post.
- Sell advertising space and get sponsors
You can try your luck and sell banner ads directly to advertisers. Find products relevant to your audience and simply contact the company and ask if they would be interested in sponsoring your site. This normally involved banner advertising but you get paid a fixed amount per month instead of needing to get a lot of views and clicks like you do in Google Adsense for example.
- Paid reviews
There are many opportunities for you to get paid by writing paid reviews. Most bloggers are regularly contacted by companies that will send them products to review. Negative point to this are that you don’t get paid very much and the content you end up creating is of less worth to your visitors compared to the best content. You will also discover that many people will contact you directly asking to buy reviews or text links. Even though many bloggers accept these, I would recommend to ignore these offers as selling links normally ruins your user experience and is not something search engines like and you risk being banned from the search results.
- Ask for donations
Depending on the topic and the readership of your site, a donate button might be the most effective way of monetizing. PayPal offers these and it just might be the way for you to get rewarded for the help you provide to your readers. Ask for donations.
- Use Amazon, YouTube and others
You can use your existing content to earn passive income on other platforms. For example if you produce many videos and upload them onto YouTube, you can become a YouTube partner and monetize your videos. Similar to this, you can add your site to the Amazon Kindle store and get paid when people read your content on Kindle.
It’s not about pushing marketing messages
The best strategy for monetization is to pick and choose several of the methods above in order to diversify your income. Experiment, test and take your time choosing the methods that fit your topic the best. Don’t force it. You will find that the best methods will come to you naturally over time as you build your content archives and your loyal audience.
Don’t oversell either as that will affect your ability to build an audience. Creating sales pitches and marketing product pushes does not make valuable content that people want to consume and share. Best content is the content that relates to your target audience, that brings them value and that includes links you’re trying to monetize naturally within them.
One of the good tips in creating valuable content that can be monetized is to create content with the purchasing cycle in mind. This type of content is not only useful to people but it is also targeting people that are looking to buy something. It can be reviews, it can be comparisons and how-to instructional guides.
On the way to your first $500
Create the best site you can and grow your traffic, readership and trust. Then strategically monetize using one or more of the above methods and you will be on the way to your first $500 in revenue. If you keep working hard on this, work consistently over a longer term, and as long as you never give up, in due time you will become a success and your site will start making even bigger amounts.
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