Monetizing Your Blog – More Ways To Get Paid To Blog
The second method or approach to monetizing your blog is to sell your own products and services on it or through it. This is more appropriate if you are trying to turn the blog (and yourself) into an authority in that niche. You can also affiliate yourself to other peoples products and services and sell them too using this approach. I believe this approach has much more potential than merely advertising on your site but it is also more complicated.
Advertising is a simple monetization model. Once the ads are on your site, your only concern is to drive traffic to the site. After that, you get paid. In fact, if you already have plenty of traffic coming to the site, advertising can be a fairly passive way to make money.
The only drawbacks to this are that you are unlikely to make much money just by advertising alone unless your site is one of the most trafficked sites on the internet. And you pretty much have no control over the revenue source.
For instance, if an advertiser gives you a crappy banner to put up on your site which leads to no click throughs they may stop advertising. If their product is rubbish that might also lead to them stopping adverts on your site because they aren’t making any money.
Selling your own products and services (and even affiliated products and services) gets round both of these problems.
In terms of the first point, you can make a healthy income selling your own or affiliated products and services.
For the second point, you have far more control over the products and services if you own them or select which products you want to be affiliated to. You also control the advertising and marketing messages that go out about them. You are in total control or as good as it’s going to get anyhow.
Of course being in total control is good but that means more responsibility and accountability for the money you make.
If your products are crap, you don’t get paid (or it’s unlikely anyhow).
If the marketing you do on an affiliate product misses the mark or sounds like all the other promotion done for the product, you may not get any commission from it.
Creating Products And Services
You may find it easy to create a quality product or provide a great service. Most people, including myself, struggle. All sorts of things can get in the way. Maybe it’s a lack of confidence, not having an inspirational idea, not having money to invest in getting the product created or not having the right contacts in your niche to get the message out about your product.
For me, a lot of these problems can be overcome if you become an authority in your niche. This means knowing it really well and blogging about it. This also takes time in my opinion, which probably puts most people off.
When you have put the time in and developed an authority niche, you will have the knowledge to create a good product. You will probably also have a good idea what people in that niche need. You should also have made some contacts in the niche that can help to promote your new product.
Money may still be an issue but ultimately, if you have put the time in, you should have a bit of self belief and that includes believing in your product. Make some sacrifices now and invest in the success of the product in the future. Sure, it’s always a gamble but it’s probably a better gamble than investing in shares in terms of risk versus reward.
The same applies to affiliating for certain products. If you have developed an authority persona in your niche, people are more likely to trust your opinion on things. You are also likely to know the difference between a good and bad product. If you care about your reputation, you are loathed to recommend rubbish.
Creating your own products is ultimately a bigger commitment than making money from advertising. I think it can also be more rewarding too as you a dealing with people and solving their problems rather than sending your thoughts out into the blogosphere and never interacting with others.