Once you have your blog up and running successfully, you might want to monetize it for additional income. There are so many bloggers out there who have successfully implemented different methods of monetizing their blogs so that they can earn money from doing what they love and are passionate about.
There are so many different ways of monetizing your blog and earning that extra money. Some more effective than others.
Some of the most efficient and effective ways of monetizing your blog includes affiliate marketing, freelancing, advertising and sponsorships, creating online course and selling a products amongst others. We will have a look at some of these methods in more detail.
Understanding the different methods of blog monetization
As mentioned there a few well-known and the most effective methods to help you earn money through your blogs. Let us dive deeper into some of those methods.
Affiliate marketing is one of the most common yet efficient method of monetizing your blog. The process of affiliate marketing basically involves promoting other products which results in you earning a commission whenever the recommendation provided by you ends up in a sale. This is tracked and made possible through affiliate links.
The affiliate link is essentially like any other standard link however the affiliate link has an affiliate id added towards the end of the link. This id is what allows and enables the tracking of your recommendation and which is eventually linked with the specific sale as and when it happens.
The commissions that are earned from affiliate marketing are usually anywhere in the range of approximately 5 to 75% of sticker price. If the product in question is a physical product then the commissions are around 5% mark. In contrast for the digital products, the commissions can go as high as even 100%. Here it is important to note that the person who is purchasing the product only pays the sticker price so that no part of your commission is funded or contributed by the buyer.
You can use your freelancing skills to earn money and help you generate funds for yourselves. People who write and compile blogs can acquire various skills such as web designing, writing, marketing, graphic designing or management of social media amongst others.
These freelancing skills can easily translate into good online income. The idea is that you can advertise and promote your specific freelance skill through your blogs. You can attract people to your through the blogs that you post and then showcase your different freelancing skills which will eventually result in you earning money through it.
Sponsorship is another effective method of earning money through your blogs. The basic concept of this is that you can get someone to sponsor the blog that you write which will result in your earning good chunk of money.
The catch here is that you should be extremely good at your blogs and very niche in your subject so that someone will consider sponsoring your blogs in return for your expertise on that niche subject.