Blog monetization is one of the most difficult marketing problems for many businesses. Although many blogs bring in thousands of visitors per month, they’re still not being monetized properly. In fact, many blog owners and managers are unaware of just how many ways a blog can be monetized. In this post, we will explore the best ways to monetize your blog and add new revenue streams to your bottom line. Now you can start earning more money with these seven blog monetization techniques.
The 7 best blog monetization techniques
Courses are by far the most lucrative blog monetization technique. When you start a blog, you provide valuable content for your readers for free. After continuously providing value for your readers, you can capture your readers in an email list. Additionally, you can build a brand for your blog. Most blog posts cover the basics of a topic and leave the reader looking for more.
This is why creating courses on specific pain points for readers is such a good opportunity for both your blog and the reader. For the reader, they get access to pre-packaged information and years of your expertise at a fixed cost. In terms of your blog, you get an opportunity to solve your reader’s pain points—all while adding a new consistent revenue stream to your business.
For bloggers, a successful course launch can be life changing. A recent example of a successful course launch is Adam Enfroy. His blogging course generated nearly $200,000 within the first month. Many bloggers spend years building an audience without really recognizing the monetization potential of their blog. With a successful course, you can generate thousands of dollars on the day of the launch and significant revenue over the lifetime of your blog.
Unique benefits of creating courses
Control over your income
As a blogger, your revenue can fluctuate drastically based on the amount of traffic your blog is getting. Everything can be going well in your blog until Google makes a new update that wipes out a fraction of your traffic. Creating a course gives you control over your income because you can control how you market your course and what price you set.
You can continuously create new valuable courses for your audience. It ensures that the revenue from your courses give your blog an extra income cushion. Now you’re not at the mercy of fluctuating traffic.
Your courses are evergreen assets for your blog. As you continue to publish content over the years, new readers will continuously find your courses and purchase them. Instead of trading your time for money, you can create a course once. It will generate revenue for your blog for years to come.
Just having a handful of courses after building a sizable audience can generate tens of thousands of dollars per month passively. There’s little to no maintenance for courses. Plus, the profit margins are extremely high compared to any other monetization methods for blogs.
For blogs that are focused on just creating content, ads can be the easiest and best way to monetize a blog. Ad networks are willing to pay you money each month based on how many visitors your blog has. This is almost 100% passive after you are accepted into an ad network.
Ad networks will typically pay blogs based on RPM (revenue per thousand visitors). Depending on the niche your blog is in and the size of your audience, RPM can fluctuate. Rates can be anywhere from $7-$40 per thousand visitors depending on how lucrative your audience is. If you blog about pop culture, your RPM will likely be much lower than a blog that writes about personal finance.
There are a variety of ad networks. Some of them include Adsenes, Mediavine, Ezoic, and more. Different ad networks have different requirements like minimum page views or monthly sessions to join. It’s best to explore each one to see if you have the criteria needed to join.
3. Affiliate marketing
Affiliate marketing is a great scalable revenue opportunity for blogs. Many bloggers’ online business leverages affiliate marketing to generate significant revenue. With affiliate marketing, you promote a product or service to your audience and you get a commission when someone purchases with your affiliate link. This is a great way to monetize your blog if you are not looking to create your own products.
Not all affiliate programs are created equal. Different affiliate programs pay different commissions to blogs. It’s important to create a list of all of the different affiliate opportunities for your blog based on the content you create. Then you can select the most lucrative and profitable opportunities. The average affiliate commission is anywhere between 5-30% depending on the industry. As your blog gains more traffic, you can negotiate with affiliate managers on what rates you’re willing to accept for your promotions.
Affiliate marketing is a revenue stream that compounds for blogs. The more content you write and the more organic visitors you get from Google, you get more traffic and more conversions for affiliate sales. It’s also very easy to set up, all you need is to create an affiliate account with each provider and you’ll be given a link that you can just add to your content.
What makes affiliate marketing so great as a revenue stream is that it’s extremely passive. For a single affiliate sale, you just need to create content once and get an affiliate link from the merchant. You can start seeing the revenue potential from affiliate marketing when you think of how many blogs you have and how many affiliate opportunities are there in each blog.
Sponsorships are opportunities where companies pay you to write about their brand, product, or service. Typically, a company that provides services for your readers will reach out to you and propose an opportunity. You can seek out sponsorship opportunities for your blog by joining influencer networks and pitching to sponsors.
There are two types of sponsorship opportunities for most blogs: sponsored posts and sponsorship deals.
Sponsored posts are posts that you will write to your audience advertising a company’s products or services. These posts typically focus on one topic that you write about and you’ll pitch your readers to try out the sponsor. The rates for these posts can be very lucrative and they depend on the size of your audience along with your niche.
Sponsorship deals are longer term arrangements where a sponsor will work with your blog to promote their business. These deals are not very common, but they are extremely lucrative. This generally occurs when you write a few sponsored posts for a sponsor and they generate great results. A sponsorship deal acts as a long term deal between you and the sponsor and it can be a great revenue stream for your blog. You can negotiate for even bigger deals by asking competitors what they would offer for sponsored posts.
Products and services are large revenue opportunities for businesses with blogs. They refer to anything else a business offers besides courses. This can vary drastically based on the niche of the business and the content covered in the blog. It’s also a great blog monetization technique.
For example, a SaaS company can pitch their product or an IT company can pitch managed services to their readers. Converting just one customer from a blog can result in thousands of dollars per month for a business. Pitching your products and services is a tremendous opportunity for any business with a blog, especially if you offer high ticket products and services.
It’s very important to focus on the most impactful monetization method for your business. A SaaS or IT company can get tens of thousands of dollars from pitching their own products instead of trying to use ads or affiliate marketing. Your products and services are generally the easiest and best way to start monetizing your blog audience. You can pitch to your audience in both blogs and emails to maximize conversions.
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6. Consulting or coaching
Consulting is one of the highest ticket blog monetization techniques. When your blog is in its early stages, you will not have the traffic needed to generate significant revenue from ads, affiliate marketing, etc. Consulting and coaching are a great way to start monetizing your blog immediately.
When a visitor from Google lands on one of your blog posts, you are helping them address a specific need that they have. It’s very likely that you have written several other blogs that can provide value to that same reader. If you add a call to action on all of your blogs for readers to book consultations with you, you can build up a clientele fairly quickly.
As a consultant, you will provide tailored advice to your customers. Since you are already familiar with the topics that the reader is seeking help with, you can charge an hourly rate for your readers to consult with you. The success of your consulting will depend on how much value you can bring to your customers. If you can help your customer succeed in their objectives, they are far more likely to become a recurring consulting client and that adds another revenue stream for your blog.
You can charge for consulting and coaching by the hour, by package, or in a payment plan that works for your customers. One strategy you can use to multiply the amount of money you can make from consulting is to target B2B clients instead of B2C clients.
B2B clients are typically enterprises and businesses that are looking for help with the topics that you blog about. They have much more money to spend than your average reader on your blog. If you can land a few B2B clients, this can add thousands of dollars of revenue to your blog each month.
7. Membership plan
One of the most overlooked ways to monetize a blog is to offer a membership plan where your readers pay you monthly for a service. A membership plan is extremely advantageous because it’s a monthly subscription. As long as you provide value for your audience, this will be a recurring stream of income for your blog and your business as a whole.
To have a successful membership plan for your audience, you have to address a specific niche issue. Out of your entire audience demographic, there will be a small percentage of fanatical members who want to know more details about the content you provide. You can use the membership plan to give your readers exclusive information and access to you.
It’s important to understand your audience’s needs to entice them to sign up for the membership plan. The value proposition for your membership plan can include:
Exclusive information and insights
When your audience signs up for your membership plan, they want access to data and information that the general public does not. You can provide significant value by sharing exclusive information on your business or the topics that your blog covers. The type of exclusive information you share will depend on your audience’s needs. Giving insights is a great blog monetization technique to employ. Make it work for you.
The most important value any membership can provide is a community. There’s no way you can interact with all the members in your group on a daily basis. With a community, you can act as an administrator and help delegate other tasks to moderators and other members within a group. This collective effort will bring a lot of value to a single user who signs up for your membership plan.
If you’ve been running your blog for any significant time, you’ll quickly realize that your audience is scattered all across the globe. Many readers who have been fans of your content would love the opportunity to meet you and similar readers and discuss various topics. Meetups can be done either in-person or remotely with tools like Zoom. This is a great way to provide value to your audience that signed up for your monthly subscription product.
These are just some of the ways that you can begin using blog monetization techniques on your blog today. Learn how to get started now by creating an online course for your audience easily with Teachable. You can get started for free here.