4 Easy Ways to Monetize Your Blog in 2020
Updated: Apr 25, 2020
My blog is less than a month old as at the time I'm writing this post, although I've had other previous attempts at blogging but never saw it through. And I can testify, blogging is one of the most arduous and frustrating tasks.
However, whether you have a hobby blog or a business blog, making money from your blog is possible. It’s not a get rich quick path, but if you plan it and do it right, you could make enough from blogging.
Although I'm yet to implement any monetization strategy as my main goal for starting this blog is to be able to reach out and help more people. However, I know that when the time comes and I feel it's time, there are four broad options available for me and those are what I'll be discussing ion this post.
It is important I state that your blog is just the front facing aspect of your business whether its an online business or offline business, it is just the front facing online potion of that business. And how to monetize it is where the value lies.
How many visitors do you need to monetize your blog?
Fact is that you don’t need millions of blog visitors to make money blogging, if you’ve got just one visitor to your blog, you can make money but you do need a plan. Traffic does not always equal your revenue, but it does have a correlation to your revenue.
You're probably wondering; "but I can't make good money with just a few visitors."
Sure, you probably aren’t going to be making thousands a month with just a few hundred visitors but you can still make money. It all depends on your monetization plan and conversion strategy.
When you consider that only a small fraction of your blog visitors are going to click on an ad, buy a product or fill a lead form, you'll realize you actually need hundreds of thousands of monthly visitors to make good money.
But as you're just starting your blog, focus more on the quality of content and the value you're giving. Every other thing will fall in place. With the right plan of course.
What are the ways I can monetize my website/blog?
When it comes to earning money from your website/blog, there are four (4) options available to you. Let’s dive in and see how you can make a profit with your blog.
Selling Physical products
Everyone is obviously familiar with physical products. And this just means you have a website where you sell products in exchange for money. The two ways this work is either you hold inventory in a warehouse from which you deliver orders or drop shipping - where you have no actual stock on inventory.
For those that have already built up an audience and massive following, one of the most profitable way to monetize it, is to sell products directly to these people. You could start from selling just a few items to launching a full-fledged eCommerce websites alongside the blog.
Or you could start it off as an eCommerce website and then have a blog alongside to generate traffic to your site. Ensure your blog content correlate with your products. You could write on How To's, Tips and Steps, among others . The goal is to first draw traffic, then offer a valuable information and the final step is to present the product that'll solve their pain point or make their life better.
What you did here is that you leveraged on your knowledge of the problem they have to first enlighten them that they have the problem, then telling them how to solve the problem, and finally offered and sold something that’ll help them solve it.
So, either you started the blog to help you drive traffic to your eCommerce store or you have an eCommerce store and then started a blog by the side, this strategy is the way to perfectly combine them to work for each other. Don't make the mistake of having an eCommerce store that sells dog food, and your blog is talking about health & fitness. That is failure already.
Remember you can either stock your own products or you can leverage on drop shipping products.
Selling Digital products
Digital products has to do with selling eBooks, online courses, enterprise software and could be a combination of videos, downloadable guides, resources, PDFs, software components, and others.
There are also services that can be categorized as a digital product such as creating an eBook for someone, selling diet plans, creating marketing strategies for a business.
You can easily promote your digital products on your blog by creating attractive content that will draw people in, then enticing them with your product.
Find what you're really great at and do the due diligence before creating a product out of it. Then make something far better by creating something that helps fill a need or a void
Earning from Commissions
Commissions are broken down into two distinct categories - Lead type of commission and Affiliate commissions.
It just means that when someone visits your site, they will either fill out a form as a lead or you are going to direct them to another website in which you will earn an affiliate commission.
So the first one is where they are paying per lead - every lead is coming from your website by merely filling out a form without necessary carrying out any transaction and the second is affiliate commission and this is where money actually needs to be exchanged in order for that commission to be paid to you - a transaction has to take place and you'll be paid a percentage of the amount.
Earning from commissions is especially useful when you're just starting out and you don't have your own products or services to sell. Rule of thumb is to ensure your blog and the affiliate or lead offers you plan to push are in the same niche, then develop content that are in harmony with the affiliate offers.
Here's an instance, if you're running a fitness blog, you can easily sign up for weight loss or body building affiliate or lead offers. Since the content is already attracting people that are interested in fitness, associating your site with these offers help you to easily earn your audience's trust and create a near-automated stream of income.
This is where the volume of traffic to your site matters. unless you have massive amounts of traffic -- as in 10,000+ visitors per day or more, you'll have a hard time making reasonable money under this monetization plan.
So having being blogging for less than a month, I submitted my site to Google Adsense so I could start having ads on my blog, but it was rejected.
Because I obviously didn't have enough traffic.
So yes, under this method, traffic flow to your site is the central focus. You might want to focus on building your reach and traffic before going this route.
However, you could easily negotiate terms directly with advertisers (could be businesses, event organizers among others) to put up ads on your site. You might want to consider putting only ads that are within your specific niche or industry.
Paying attention to some important factors is a huge determinant to how much money you can make from whatever monetization strategy you implement. Ignore them, and you'll find it nearly impossible to drive any tangible amount of traffic and ultimately monetizing your blog.
Some of these important considerations include;
How niche focused is your blog?
How engaging is your content?
Is your blog delivering any value to readers?
Does your blog have quality content?
How much authority do you have in your niche?
How well-known are you in your field?
If you're able to assess yourself and your blog based on these evaluation points and address areas where you have shortcomings, you'll find it easy to generate the volume of traffic and trust needed to profitably monetize your blog.