5 Ways to Monetize A Blog in 2021 + Tips to Maximize Each Method
If you’re new to blogging you may be wondering how you can monetize your blog. Whether you’re just going full-time online or you’re starting a new side hustle. You can absolutely monetize a blog and make money online without all the hustle.
I want to preface this with saying that I have not monetized my blog with 2 out of 5 of these methods. I’ve just never gotten to that level or even desired to.
You should read this knowing there are options available to you but you don’t need to create each of these income streams at the same time.
Don’t make that mistake. Juggling multiple income streams when you don’t fully have one mastered will cause slower growth. Now that’s not the case 99% of the time. But most of us down here in the trenches aren’t going to succeed creating multiple income streams from scratch at the same time.
So let’s dive in shall we?
Most Common Ways to Monetize Your Blog
One of the most common ways to monetize your blog is through display ads. A lot of bloggers only use display ads as a monetization strategy. Display ads are a great way to make an income but the income you make can ebb and flow depending on your niche, time of year and even the content.
It can be frustrating figuring out how to make the most of your ad revenue RPMs.
For display ads you need traffic, a multi-screen strategy & a fast loading website.
Pro Tip: Optimize your website for mobile and make sure your site doesn’t have pop-ups and slide-ins that your audience can’t navigate away from. It lessens the experience for your audience and you won’t make money if they don’t stick around.
Next up are sponsored posts. Now this is a great way to get paid for your content as you create it.
With sponsored posts you can charge varying rates depending on the agreement. So if you create a sponsored YouTube video and social media posts then you can potentially charge for both.
Be aware of sponsors that want you to do things you’re not interested in doing or believe in. Always create sponsored content for things you use and love.
Your audience is aware of sponsored content and it can appear as though the company is buying your opinion on their product.
Some of the metrics you will want to track are:
- Social audience size
- Newsletter size
- Open rates
- Click rates
- Clicks on CTA inside content
- Time on page
Pro Tip: Track your metrics so you know how well your sponsored content did because your brand partner is going to want to know.
My Favorite Ways to Monetize a Blog
This has to be one of the greatest ways to make money blogging. There are so many tips out there for affiliate marketing for beginners.
If you want to make money without ads then affiliate marketing will be a quick starting point. Unfortunately it’s not as easy as dropping links. You still need to provide value otherwise who is going to trust you or even buy from your link?
It’s important for audience retention that you give them a reason to be there.
My favorite way to use affiliate marketing is through product reviews and how to posts. These provide a lot of value that people are searching for while giving them the opportunity to purchase through my link.
Another way you can create a revenue stream from affiliate marketing is by creating a special offer with your affiliate link.
For example, create an opt-in and make the funnel your affiliate link. So in exchange for using your link they get something special, a bonus of sorts.
I’m planning on doing this for Tailwind as part of using my affiliate link to sign up for their service.
Pro Tip: People really don’t mind buying through your links but give them a reason. Create lists, how to and review posts, etc.
One of the biggest ways I monetize my website is through services. People find my website and reach out to me directly after consuming my content to work with our team.
We offer a variety of services including 1:1 management, consulting calls, strategy sessions, graphic design just to name a few.
If you are interested in offering services through your website you will want to reach out to your audience and start doing market research. I started this blog only after validating my offers. Do that homework and it will help you on sales calls.
The most recent example I ran across was a yoga blog offering 1:1 yoga sessions. With yoga studios being closed or hard to get into this is a great way to monetize your blog.
Especially with more people being at home it’s a great opportunity to offer services in exchange for your time.
Pro Tip: Use your content to get people onto sales calls with you. If you can’t sell them your service then ask them how you can help them & use that information in your content & marketing.
Oh how I love digital products. They are an up and coming income stream in my business and it’s definitely a lucrative way to scale your online business.
Having a digital product that your audience wants is the key to succeeding in this particular income stream. You can’t just make a product and expect it to make millions.
Don’t believe all of the ads you see on Facebook.
However, listen to your audience and give them what they want while also providing them with what they really need.
The hurdle you have to jump here is to come up with digital products to sell that aren’t based off of your own desires but those of your audience.
I covered this more in detail when I wrote How to sell digital products in your business.
Most people think they want a Pinterest strategy but what they really need a system before they can actually implement the strategy.
I offer a variety of products:
- Pinterest System
- Perfect Pin Blueprint
- Pinterest Dashboard
- Pinterest Templates for Canva
- Pin Profit Plan (full course)
You can see these range in price and give each person a different starting point. Not everyone needs a full Pinterest course so they have options to learn from me.
Pro Tip: Create educational content that helps your audience with a problem then offer them your product as the solution to take their results even further. Free content right here on this site can get you a full Pinterest strategy but my courses and services can take you even further.
Just remember to start with one stream and get good at it then add in another. If I could tell myself anything 4 years ago when I started it would have been to start with email list building and digital products as well as affiliate marketing if I were trying to monetize a blog.
Listen to your audience and get them involved! You won’t regret it later when you’re trying to create a landing page and you have plenty of their words to use.
PINT IT FOR LATER
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