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How do blogs generate income? 5 proven ways to monetize your blog

“How do blogs make income?” This is a question that I always receive from my friends. Well, I waded through the internet and compiled a useful summation of the different ways to generate income from a blog. You can make good money on the side if you are a part time blogger, but if blogging is all you do, then you should read through and find strategies to increase your blogging income here.

#1. Affiliate marketing

It is the practice whereby you are compensated for helping other businesses or individuals sell their products by promoting them. It involved joining any affiliate program and choose the kind of goods you want to sell or even a referral link with a unique code meant for you (affiliate ID). Most programs have ready-made tools for you such as banner, text links that can help you in your promotion. Besides advertising, research indicates that this is the second most used blogging income stream. Most bloggers have signed up with various affiliate programs such as Amazon Associates, Clickbank among others. If done using the right techniques, affiliate marketing can give you six figure commissions at the end of every month.

Why you need to try Affiliate Marketing

There are various reasons as to why affiliate marketing is
still the best money making ways for most bloggers. Here are the reasons as to
why:
  • It is cheap: – It does not need any startup cost to be an
    affiliate marketer, as you long as you have a blog with good traffic or a large
    following on your social media platforms, you are ready to go with this kind of
    income generation. Additionally, you do not need a typical brick and mortar
    premises since all your product or service promotions will be done on the
    internet.
  • Unrestricted market: – the internet has made the world be a small market place, you can reach people from any continent or country in the world. This gives you the advantage of a wide market from the comfort of your home.
  • No storage or shipping:- If you are promoting a product. Let’s say from Amazon, you do not need to have a place to store the products, you are just required to redirect potential buyers to them, and they will do all the shipping and other requisites.
  • A good source of passive income:- Depending on your skill in internet marketing, affiliate marketing can serve a steady source of revenue for you. For instance, one post on social media can attract several buyers, something that cannot happen in the regular jobs or brick and mortar shop.
  • Work from home:– the beauty of affiliate marketing or blogging is that you can do everything from the comfort of your home. You do not have to worry about the tedious road traffics and getting to your workplace
    late; you just do it at your convenience.

 

#2. Advertising Income

So far, it is the widely used blogging income stream. Just as magazines and newspapers sell ads, you can use your blog or site and show ads and get paid for directing people to other sites or businesses. It is a way of giving exposure to advertisers. This way of making money, however, requires you to have a decent traffic.
There are two categories of ads that you can show on your site:
  • Display Ads
  • Private Ads

Display Ads

These type of ads are offered by advertising companies (ad networks). Google Adsense is one of the most used advertising company; Google owns it. There are several other advertising companies too such as infolinks, Chitika, etc. These companies act as middlemen between advertisers and publishers (bloggers). They take their cut from the revenue generated once your readers click on the ads.

Private Ads

These type of ads are similar to Display Ads in the sense that they also come in the form of visuals (banners) or text. The only difference is that they do not require a middleman, the blogger negotiates with the advertiser personally.
Either the advertiser or blogger initiates contact. If you are uncertain of what to charge to display this kind of ads on your site, you can look around what other people in your niche are charging. If you have decent traffic, you can always check out the kind of ads your competitors or people above you in the same niche are displaying and contact those companies to ask if they’d like to advertise on your blog too.  You should, however create a winning pitch.

#3. Products income stream

Most bloggers do not rely only on advertising or a single income stream on their blogs. You can use your blog two types of products, physical and virtual products. The physical products include merchandise, books, DVDs or even farm products. On the other hand, virtual products include e-Courses, eBooks, Audio, Video, Webinar, Reports, and Software/Apps.blog-income
You can also make money this way through giveaways or reviews. Wondering what these are? Well, have you ever come across blogs which give reviews on certain products and provide purchase links? Typically, a company supplies a product to a blogger; the blogger offers reviews about the product. The blogger is given the product as a giveaway for use and reviewing it. This is aimed at increasing awareness and sale of the product.
The product given to the blogger is always free, and they can keep if for themselves. Other bloggers charge to run giveaways while some don’t charge anything besides the free product. It is a question of debate, though since different bloggers have varied opinions on this. Personally, I think it majorly depends on whether the product is meant for marketing or advertising purposes. Marketing is used by companies to spread the word about their product or services.
With advertising, a company strikes a deal with a blogger or an individual to help them spread the word about the product. In this case, the companies are expected to pay for advertising. For instance, a company may want to market a product by handing out free t-shirts, as a publisher, you will take the shirt if you like it and wear it. Obviously, you would not charge the company for wearing their t-shirt.
In the case of giveaways, I think you need to be compensated if there is nothing else you are getting from the partnership with the company besides the free product. This is because you are spending a lot of your valuable time to write long posts reviewing the product and convincing potential customers to purchase it.

#4. Continuity programs income stream

A continuity program is a practice of setting up some kind of subscription for your readers to buy so as to access something exclusive. In most cases, the readers pay you monthly or annual fees for access to:
  • Forum or community area
  • Exclusive content
  • Coaching/mentoring
  • Products, services or software.

#5. Services Income Stream

Bloggers are also making money nowadays through selling their services. There are many bloggers out there offering services such as consulting, coaching and mentoring services. There are also others who provide freelance services such as social media management, event management, public speaking, web design, and graphic design among others. The key factor here is to reach a greater audience and get potential customers or clients by highlighting your expertise and let people hire you for this. You can also upload your portfolio for better exposure.

Wrapping Up!

There could be several other ways to make money blogging out there, but the once I have mentioned above are the common once, you can easily start your own blog and make money from it using the above income streams. Most bloggers rely only on one method while others combine various income streams to increase the level of income. I would recommend that you read through and find the ones that you find intriguing and combine them for best results.
 
 
Which blog monetization approach works for you best? 

Article written by:

Omari Alex is the founder of Freelance Nuggets. Learn more about him in the "About" page and connect with him on any of these social media platforms.

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