It’s a mistake to build blogs as products: blogs should be utilized as a means to an end, and not the other way around. It’s rare for a blog to succeed as a standalone business, and even then it’s a steep climb for anyone gunning for this prestige. Oddly enough, you’ll successfully monetize your blog if you employ your blog as a marketing tool.
It’s likely your blog runs like clockwork, with tried-and-tested tricks employed to the fullest. Banner Advertising, Paid Posts, and Job Boards are proven effective, depending on the blog’s nature, niche, and setup. The tides are always turning and thus there are strategies you should prioritize if you want to squeeze more revenue from your blog.
These five strategies transform blogs into marketing tools. The goal is to attract target customers and then lead them to products and services you offer. This presumes your blog is highly relevant to its niche, adding value to its community.
Use Memberships to Monetize Your Blog
This strategy monetizes your blog as a product, but it’s also a promotional tool that cultivates a following. As the blog becomes a recognized authority in the niche, membership and revenue should snowball. The terms may vary, but in the case of monthly membership fees, your blog’s cumulative earnings increase as more people sign up for a subscription.
If your blog is an in-demand resource, you can capitalize on this by offering premium, paid content. Paid subscribers should get what they pay for, though, receiving content of exclusive value.
In-depth Information Products
The blog can also be used as a springboard to sell full online courses. Modern education has gone beyond the confines of universities, with specialized courses now available at niche sites. If you’re an authority on a subject matter, then the right people will pay for your course. This proves to be a very effective way to monetize your blog.
You can sell information products in a variety of formats, in course installments (audio or video), also through e-book releases. The blog will be your promotional tool for these products, with posts aimed to convince readers there’s value in paying for the digital content.
You’re paid for your personal service, which may seem counter-intuitive to the purpose of many blog products: as passive income. You can’t deny the street credibility you’ll earn by providing your expertise, though. That, and you’re justified to charge higher fees for the service.
Information products appeal to the DIY crowd, but many would rather leave the dirty work to the experts. Double your earnings then, and pair consulting services with the sale of digital content.
Maximize your reach in the community, and catch the windfall of earnings from your network. In affiliate programs, you earn commissions when people click links on your blog to purchase products from affiliate sites. It’s an easy way to make money, especially if you’re part of an elaborate network.
Affiliate marketing shouldn’t be your bread and butter, though. You barely have control of the transactions, and you have to be picky with the products you promote. Unscrupulous affiliates are like strange bedfellows, proving you guilty by association.
This requires a different approach to branding, and your target market will include event organizers. No doubt, the reputation you’ll build will culminate into opportunities for speaking engagements, especially if you’re the leading authority in the niche.
You have to be elaborate in branding yourself, extending your reach far beyond the borders of the blog. Consider social channels, email lists, published books, referrals, anything that confirms you’re the go-to resource in the community. In this sense, the blog is promoting you as the product, as a brand and will be a catalyst to monetize your blog.
Your blog should be dynamic and updated; many blogs only pay lip service to the products and service they offer, which explains their inability to bridge the gap between promotion and revenue.
Building a blog can be complicated, often overwhelming. It is often very frustrating work, but you’re better off knowing that blogs are there to pitch what you really have to offer, what your business is all about. Appeal to the crowd, and lead the traffic to the avenues where your wares are sold. Happy monetizing!