How to Make Money With a Blog
It's interesting because I get a lot of my web traffic as a result of people who are searching for monetization models for their blog oriented websites. There is so much hype out there in the online marketing space as you undoubtedly agree, and blogging has gone from being an engine for creative expression to one used by MANY online entrepreneurs to make a pretty sizable income. But, if the truth is really going to be told, late in 2007, as I write this, statistically speaking, most of you won't make a shiny silver dollar this month for ALL of your big buck blogging plans...
Why not? Well - for one - you most likely don't have a CLEAR plan to how to properly monetize your blog! Writing about your Aunt Esther's wedding might be interesting to your family, but to be honest with you, most people simply don't care. And if they do - they are there to read your musings on life, but aren't planning on spending any money while they visit. So if you want to be creative, write about your life. If you want to make money - pick a topic that will draw people with their wallets open.
How about adsense and yahoo ads as a monetization model? Maybe in 2005, but today, with value pricing taking hold - I have found that monetization through contextual ads has become much more challenging, both in the CTR rates I'm getting, as well as in the payouts per click. And in a world driven by incremental increases in the general cost of my online enterprise, I can't afford to LOSE money on the revenue stream - and neither can you! So...Pick alternative monetization models. Sell ad space directly from your blog, post links, banner links and even video ads ( which will unquestionably be the platform for the future) can be EASILY integrated into your site with no tech know how, often for free (or VERY low cost) and is completely price driven by your needs and valuations. Think a month on the front page of your blog is worth $500 to a potential advertiser? Well, with this model - you can charge for it! A pure free enterprise solution.
Hey - if no one else wants to offer big bucks for the top slot there's always Aunt Esther, right. And of course, there is so much more that I simply can't cover here. A blog can be a money making enterprise for you as well - or 5, 7 or even 10! Most can be set up for free, and once you know what you are doing, the sky is the limit!
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