8 Ways To Earn Revenue From Your Blog Or Website
contributed by media.net
Getting your blog or website up-and-running is a matter of joy and pride.
You’ve put in the effort to build something you love, so why not let what you have built reward you for all that hard work? Earning from your blog can be easy and there are a number of revenue options you can pick from. In addition to the very obvious–selling goods and services–here are eight of the most common ways to generate some revenue to support your effort moving forward.
8 Ways To Earn Revenue From Your Blog Or Website
1. Ads (CPC/CPM advertising)
While many dislike ads, without them many websites and blogs would not exist.
Ads are easy to set up and, if not overdone, not as intrusive as popups or as misleading as poorly-clarified content marketing. It’s not surprising that for bloggers, this source of revenue is the most common. Deploying ads on your website/blog makes great use of the on-page real estate that would normally go blank, so it definitely is as a win-win situation.
The first choice you’ll have to make as a publisher is to decide between CPM (Cost per Mille/Thousand) and CPC (Cost per Click) revenue models. Both models have their benefits and pitfalls, and experimenting with them both over time will help you figure out which revenue model works best for your blog.
Some advertising partners will be adamant about using either CPM or CPC, while others will help you figure out which one will get the job done for you. Other ad revenue models like CTR (Click-Through Rate) and CPA (Cost per Action/Acquisition) can be explored once your blog has grown bigger and you need to supplement your existing revenue methods.
For example, at Media.net (affiliate link–see #7) we offer contextual ads where the ads are related to the content of your blog, and they also bring CPC search advertising budgets to your traditional CPM ad inventory. Do your research and find the right partner to fit your monetization needs.
2. Sell advertising space privately
If you want to have ultimate control over everything that is seen on your blog, including the ads, it makes sense to consider selling advertising space the old-fashioned way, via one-on-one dealings. This will enable you to have a say on exactly which brands and what type of ads can be seen by visitors to your blog.
However, it also has its downsides. For starters, it is a time-consuming process that will have you spending more time in negotiations and less time on actually generating content. Also, there is a serious risk of undervaluing the ad spaces on your blog and getting stuck with long-term deals with a single/few advertisers; this completely blocks other advertisers who are willing to pay more to have their ads on your blog.
The trick with such direct deals is to use them at the right time for the right period of time, like during seasonal traffic slums.
3. Email marketing
When you offer good content on your blog, readers will sign-up for your newsletters.
In fact, a growing trend is for people to only view certain articles that are highlighted in the newsletters they receive—this helps them massively streamline their online reading habit. If you have a sizable database of subscribers, advertisers will gladly partner up with you to gain access to your readers’ inboxes.
By piggybacking on your newsletters, advertisers can ensure that their message is exposed to the right audience, and not cast aside like their promotional emails often are–provided the content you’re delivering to readers is actually useful and meets their expectations. If it’s low fit, low value, and ‘spam-like,’ it’s generally not worth the small amount of revenue it can deliver.
The bigger your subscriber database, the greater your leverage with advertisers. Use emailers sparingly and when the advertising income is worth the extra mail in your readers’ inboxes.
4. Sponsored content
It’s not just ad units that are better off being native these days. Advertisers even want their messaging to be native, and this where ‘sponsored content’ is valuable.
As long as any and all sponsored content is clearly labeled—so that your readers can identify it from your other, non-sponsored content—then you are in the green with regard to any ethical apprehensions you may have about it.
In order to tap into advertisers’ sponsored content budgets, you will have to show a large amount of quality work, with copious readership and social media sharing statistics—so think of sponsored content as a long-term revenue option. The goal of sponsored content is to create transparent content that’s actually useful and expertly-created with very clear details about the relationship between the marketer and marketed.
5. Subscription/Premium content
If you want your content to generate revenue without wanting to go the sponsored content route, then charging for the content itself is a great route. Once you have a trove of content, you can put most of it behind a paywall, with users having the option to buy a subscription and unlock all the premium content. This isn’t a strong fit for most blogs but for the ones it does work for remains a viable way to monetize your site.
A common recent trend is the polar opposite of subscription content: put all the content out there for free and have your readers instead contribute to a Patreon account. Like sponsored content, this too is more of a long-term alternative and depends on how valuable your blog visitors find your content to be.
While that was the original pitch with Patreon, a large majority of the content creators on Patreon work on a freemium model, with their most engaging content only available to donors.
7. Affiliate marketing
When it comes to generating revenue via performance-based marketing efforts, affiliate marketing has experienced a comeback of sorts in recent years. An effective advertising and marketing tool, affiliate marketing leans on—to some extent—the trust built between bloggers and their readers.
Bloggers earn either through a CPA or revenue-share model, depending on the nature of the advertiser’s business or marketing goals. A sizable number of daily visitors is usually considered a must for blogs that want to get on the affiliate marketing wagon.
Whether you choose to deploy ads with an ad partner or prefer to do email marketing or are even considering sponsored content and affiliate marketing, do remember that you can do all of these simultaneously. In the long run, diversifying your sources of revenue will be essential in order to earn more. It is important to find the right mix of revenue streams and the right ad partners.
8. Membership model
A type of ‘subscription’ site, a membership model monetizes the website or blog by creating physical or digital goods and services for a monthly fee. Membership fees also often have community elements to increase client retention and loyalty while also creating more value for all users.
This was created by media.net
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