Why can't I Make Money Online?
What am I doing Wrong?
If yes, Then keep reading. This is for you.
Today, we are going to see about why most of the bloggers fail to make money through blogging and what are the best ways to monetize your blog.
How To Monetize your Blog and why most fail?
Table of contents
Why Most Blogger Fail on Monetizing their Blog?As I stated above many people struggle monetizing their blog, Even through they know how to write quality articles, has good readership and decent traffic. They still struggle to make decent Income.
When we check why? The following are the most common reasons bloggers fail.
Lack of InvestmentMany Bloggers start blogging hoping to make money from their blog but they are not willing to make some investment in it. As long as you blog for passion it's okay to do it without investing a single cent.
But, The moment you decided to make money through blogging, you've to treat your blog more than just a passion, Treat your blog like a business. As many already know business needs investment, Just like that your blog also needs investment to make a successful income.
You cannot earn money online (and I mean serious amounts worth mentioning) if you are not willing to spend money online.
The good news is blogging don't need big investments like businesses. It won't even cost more than $100 to get started.
For Example, To Register a WordPress blog, you need a domain and hosting.
- Buying a domain on godaddy.com costs only $2.99 for first year.
- As for hosting lets take Bluehost, you can buy it for only $3.99/month for first term.
In a Nutshell,
You need to spend money to make it.
P.S. The investment for BlogTipsNTricks is only $15/year, Nothing more. ;)
Relaying too much on only One Revenue SourceThere is a famous quote by Warren Buffet, One of the most successful investor of the 20th century.
"Do not put all eggs in one basket"It also applies for monetizing your blog. Do not relay on only one source of revenue.
To be more exact, Most bloggers tend to relay on advertisement as their only source of income. I won't say ad revenues are bad, we can make lots of money through advertising but it's only possible if you have millions of visitors.
Even if you make decent income through ad sales, it won't hurt to have some other source of income to earn more. ;)
Also, Let's say if you are using adsense as your only income source, When your account got banned, you're doomed. Since there is no other source of income.
So, Having different source of revenue is the best way to earn more and keep your income stable.
Expecting Over Night SuccessLet me say it before hand,
Blogging is not an easy way to Make Money Online.
You may have seen advertisements saying "How to earn $72K in just three weeks" etc...
I bet they are all trying to make you buy their product or guide.
Okay, There is nothing wrong about it, if they actually give results. But I guarantee that you won't see any results through those guides.
Even Pro Bloggers who earn six figure income didn't start earning that much right from the start, They also struggled and failed, but they never give up, Remember
The real failure is when you STOP trying.
You need to be patience, never give up and keep trying until you see success.
Not having a Proper PlanNow Let's say you understand and follow the above three tips, There is still a great chance you may fail if you don't have a proper plan.
You have to foresee your future of the blog, you should plan about the future of your blog.
For Example, Ask yourself,
- How much you should earn after one year from now?
- When should you monetize your blog?
- What are best monetizing method that suites your blog?
- What is the best way to reach your goal?
Make a PLAN to reach that GOAL.
NOW STICK TO IT. ;)
Also Read: 5 Reasons Why Bloggers Fail To Make Money
How To Monetize your Blog?There are numerous way to monetize your blog, Today I'm not going to mention all about it because it's not possible to explain everything in a single article.
The following four methods are what I believe as best and personally use.
Ad SalesAdvertising is one of the most popular and traditional way to make money through blogging. As mentioned above the blogs that earn big money from advertising are the ones with massive traffic.
But, Still it is one of the easiest method to earn $100-200/month
There are many ad serving agents out there like Media.net, infolinks, etc.
In BlogTipsNTricks, I'm currently using two ad service, Google Adsense and BuySellAds.
So, For now I Recommend using Adsence, BSA and Media.net
- Best Google Adsense Alternatives!
- Important Things you Must Have to Get Approved by Google AdSense
- Top 8 Reasons Why your Blog is not Approved by Google AdSense?
- How to Boost your Adsense Earnings
Affiliate MarketingThis is a type of advertising slightly different from the traditional advertising. Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products.
You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make.
There are many methods to earn money through affiliate marketing such as
- Placing Banner with affiliate links
- Writing Reviews about the Product
- Creating lead pages, etc...
To get started, you can visit affiliate networks such as: Amazon, Clickbank, Commission Junction, and literally hundreds of others.
Sponsored ReviewsIf your blog is niche enough or big enough (or both) you will be contacted by people wanting to pay you for publishing their post, or writing a post specifically for them and publishing it on your blog.
This can take many different forms. Some offers will sound really good and legit, while some will simply be ridiculous. There's no telling what you'll stumble upon during your web publishing career.
It's recommended to accept sponsored reviews only if its useful for your readers, Don't write reviews just for the sake of making some quick money.
This can be turned into a great revenue source if utilized correctly, The cost to publish a sponsored review can vary from $50 to $500 or more, It mainly depends on your influence. The more your audience is engaged, the more you can charge.
If you want to search for such opportunities actively you can sign up to sites like PayperPost or others.
FreelancingYou may already know if you are a regular reader of this blog. I offer freelance web designing service. It is one of my major source of income.
If you have any freelancing spirit living in you, this might be a good approach to take.
Basically, you're creating a new page on your blog, titled "hire me" or anything else that sounds similar. This page presents the services you offer and all the important info on how to hire you. Essentially, it sells your visitors on hiring you to do whatever it is you can do for them.
For example, you can also check my Service Page.
Some of the most popular freelancing fields are: Freelance Writing, Web Designing, Online Marketing Tasks, Consulting, or whatever makes sense in your niche.
Final WordsMonetizing a blog is all about experimenting, Each blogs need different kind of monetization. The above mentioned methods are the methods which I personally use and works for me.
I hope it'll be useful for you to successfully monetize your blog.
Let me know your experience about monetizing your blog, Which method works for you?
Your feedbacks are much appreciated. ;)