Last updated on April 2nd, 2014 at 11:29 pm
Welcome to the seventh part of the Blogging Tutorial Series by KJRocker.com. In this part of the series, you are going to learn about how to create a good monetization plan for your blog.
Blogging is a business. In fact, it will be a big business for you if you can do proper planning for it from the start, especially about how you will monetize your blog later. You can’t just put any ads on your blog and expect money to start rolling in without any more effort on your part. It doesn’t work like that. What you need to do is to pick the monetization method that you’ll use from the start so that you will not get tempted with thousands of ways to make money from your blog later. Here are some tips to set up the monetization plan for your blog:
1. What Is The Focus Of Your Blog?
If you are focusing on broad niche, then there will be a potential of high traffic coming to your blog if you can really expand it to the maximum level possible. For this type of blog, you better put some ads in your blog in which you will get payment per click, such as Google AdSense. But, if you are focusing on narrow niche, then your audience will be centered toward one type of niche. The traffic potential will not be too high, but your audience is laser targeted. If you have this type of blog, it’s better for you to promote affiliate products in your blog in which you will get your commission based on the sales that you make.
2. Do You Want To Offer Your Own Product?
Whatever your blog type, it is possible for you to create your own product and sell it to your blog. The question is whether you want to do it or not. You can even offer your own service to your readers if you want. So, think about it from the start. By offering your own product, you’ll get the full profit out of your sales. But, you have to deal with the customers directly. If you already have a plan to put ads or promote affiliate products in your blog, then selling your own product will be an additional monetization method for your blog. However, you can also make it your primary way of making money with your blog.
3. How Is Your Potential Traffic?
You might not see any good traffic coming to your blog already, but you can decide your monetization model based on your potential traffic. Think about it from now on. Imagine if your blog already get high amount of traffic now. What will you do? How will you monetize it? With traffic, everything is possible. You will always be able to monetize your blog in any way you choose. Your focus should be to earn the maximum income from the traffic that you have.
4. Who Is Your Audience?
Also, based on your audience, you will be able to determine how you will make money from your blog later. If your audience is generally a freebie seeker or a freeloader, don’t bother selling any product to them because they will only pay little attention to it. Just put some ads in your blog and you’re good to go. But, if your audience is looking for something specific, like a way to solve their problem, then it’s better for you to give them the available solution for their problem. There are many specific products that will help them solve their problem.
5. Advertising Versus Selling Your Own Product
It’s always a big debate whether you should sell your own product or put advertising materials on your blog. The answer is that what you earn will depend on various factors. Even though you can create a good product to sell in your blog, it might not be successful because your readers are mainly not interested for such type of product. So, selling your product is not always an easy way to earn big bucks from your blog. What you need to do is to constantly do the trial and error process and analyze your result. This is the best way to determine what’s good for your blog.
So, have you choose the monetization plan for your blog yet? If not, you should start thinking about it today. Of course, you might need to change your plan later, but you’ll do better if you have a plan in mind.
The next part of the series will talk about the basics of blog promotion. This is the way to make your blog popular.
Blogging Money Part 1 : How To Choose Catchy Domain Name For Your Blog
Blogging Monies Part 2 – Basic Guidance To Choose The Right Web Hosting
Blogging Monies Part 3 -How To Install WordPress Without Hassle
Blogging Monies Part 4 -How To Choose The Right Theme For Your Blog
Blogging Monies Part 5 – How To Write Fascinating Blog Content
Blogging Monies Part 6 – How To Be A Productive Blogger And Create Your Content On Schedule
Blogging Monies Part 8- Blog Promotion Basics
Blogging Monies Part 9 – How To Build Your Blog Brand And Increase Your Blog Popularity
Blogging Monies Last Part (10)- Dominating Your Niche And Build A Big Reputation For Your Blog