A lot of people think that bloggers write witty anecdotes about their cats and somehow money flies out of their screens. Unfortunately, that’s not the case. There are many factors that determine how much a blog can make. That’s why this list is going to demystify five of the most common ways bloggers make money.
1. Ad Revenue
From banner ads to contests and give-a-ways, ad revenue can take a variety of forms. That being said, bloggers don’t just slap on any old ad and call it a day. The ads in question need to be relevant to the target audience or else blog owners run the risk of driving away their readers.
Some less obvious advertisement methods include:
• Sponsored Posts
• Ad Networks
• Newsletter Advertising
• Video Ads
• Text links
• Cross promotion Campaigns
Pay close attention the next time you go to your favorite blog and you might notice a few of these.
2. Selling Products
It’s not uncommon to see bloggers promoting their own products as opposed to promoting someone else’s. That’s because there’s serious money to be made if you’ve got enough traffic and subscribers. Sites like ProBlogger potentially make hundreds of dollars a day by selling things like e-books or T-shirts.
While the products might differ they all share one thing in common: their products complement their respective niches. So if you’re thinking about selling your own line of backscratchers from your music blog, make sure your audience would actually buy them.
3. Affiliate Marketing
This one’s a major money maker for shopping-oriented blogs. Basically, blog owners get paid a small commission every time their readers purchase anything using their link.
Affiliate marketing synergizes well with blogs that get high traffic daily. It’s not unheard of for lesser-known bloggers to make a killing on product referrals alone. So, if you ever wondered why they always pushed so hard for their readers to use their links or discount code, now you know.
4. Providing Service(s)
It’s no secret that small businesses use their websites as a way to supplement their services. But you don’t need to be a business to provide a service to your readers, especially if you’re an expert in your field. Plenty of bloggers offer things like coaching, freelance skills, and consulting services to any and everyone. It’s not uncommon for someone to meet most of their clients through their blog.
5. Capitalizing on Events
If you’re good at what you do, people will notice. When they do, they’ll likely invite you to conferences, take you out to lunch, and pay for you to be a guest speaker. Events like these benefit the blogger in two ways: first, the blogger is compensated in some way to be there. Second, they’re indirectly promoting their blog and increasing their already large audience. It’s almost like they’re getting paid to advertise.
Whether you’re a new blogger or an outsider looking in, remember that the key to online financial success depends on a diversified income stream. A blog should serve as a foundation for this rather than the end goal.