A lot of people look into blog monetization. They’re looking at different ways that they can do it, they’re downloading all these pdfs and insights.
If you stick to the basics you stick to the core.
There’s just really 3 main ways that you can monetize your blog.
If you think of this from the foundational concepts, it’s really simple.
1. Advertising and Sponsorships
This is really where most people start out from. They get google ads or add sponsorships.
It’s kind of like putting the sidebars on your website and page and get x amount of dollars for every thousand views.
Some industries pay you a little bit more other industries pay you a little bit less.
That’s kind of the easiest approach to get started with.
2. Sell a product or service
So selling your own product or service is probably the opposite spectrum.
It’s one of the most difficult ways to monetize your blog because there’s a lot of creation process.
Whether you write an e-book, create a video course, build a membership platform out and you have recurring members.
There’s all kinds of different ways but anything that it’s your own that’s under your control this would be considered kind of selling your own product or service.
3. Selling someone else’s product or service
By selling someone else’s product or service, you get a cut or commission.
Many people know this as affiliate income.
That’s kind of a great starting point to make a little bit more per sale, especially if you don’t have your own product or service, rather than getting paid for advertisements .
With advertisements, you need a huge amount of traffic when it comes to selling your own product. You need to put a lot of leg work into it and have a production line.
This is a good way to test your own product or service to see if that’s even going to pan out or work.
It’s kind of an in-between way where you don’t have to create the product but you still get a cut of the sale.
Those are the three ways and anything else that you kind of think of, it fits into one of these methods.
Everything else kind of stems in between or in these sections.
No matter what you’re doing, you’re gonna be in one of these sections and that’s really the way that money is made online
Don’t over complicate it the from going here forward.
It’s like, let’s say, coaching one-on-one, coaching well that’s one-on-one. That’s yours. But if you’re selling someone else’s, then you’re getting an affiliate. So it goes to someone else’s.
It all fits into these three sections.
Keep it kind of simple and from there, you can really stem things out.
Do you want to spend a lot of legwork creating your own product?
If you’ve never done it before, try selling someone else’s product first.
If you can’t sell that, well in that case, why are you going to waste your time creating your own product?
If you can’t get the traffic and make a little bit of money from the sponsorships or advertisements, well then, you probably won’t be able to sell your own product.
So there’s a lot of different pros and cons to doing one or the other.
I’d say the easiest is the advertising or sponsorships because you need traffic.
Once you have some traffic, you probably are building a newsletter list, a client list, a customer list and a visitor list.
Then you might be able to also market and target some larger products.
In selling someone else’s product, you don’t have to put the legwork in granted you might only make 10%, 20%, 50% of the sale.
You’re not controlling the price but you’re making some healthy revenue from another larger product that you don’t have to make.
The third way is if you have a production or you are able to sell your own product, you’ve created something that you can really control and dictate things because you have your own pricing.
You can upsell things if you have multiple products.
Bundle things together and that’s really where the power is.
Now you’re bringing the full amount of the sale or purchase price.
Those are the three ways to expand your business.
Think about where you fit in, where you’re at in your blog journey.
But think about growing and stepping things up further to the next step each and every single time.