Consider a long-term strategy
When you think about the best way to monetize your blog, think in the long run. Consider how you want your blog to grow and evolve, to make sure that this monetization tactic is really the way to go forward. For example, you should not use a sponsored post strategy to promote an ebook about your niche if your long-term goal is to write an ebook yourself. Additionally, expecting a windfall, months after you start a blog, is usually unrealistic.
Use multiple monetization tactics
There is no rule saying that you can only use one monetization tactic. Instead, consider all of the strategies you can benefit from. What is crucial when selecting a monetization tactic is profitability. If you realize that several monetization tactics can be profitable, test them all and select those, which give the best results for maximizing your income through blogging.
Focus on your niche
Just like with creating blogging content, choosing a niche of the products you promote is very
important. It gives you a better chance of tailoring your content to your target group. When you use monetization tactics, make sure you only use those that enable you to stay in your niche and keep targeting your blog audience. Relevant products or services you are promoting have more chance of converting your visitors and thus earning you profit.
Build a community
Building a community is a very important step in defining your online influence. A community is more than just blog readers. Those are the readers that are genuinely interested in your content, they respect you, and they take the time to participate in the community. They are also the highest-converting visitors, helping you increase your profit through different monetization tactics. Building a community starts with your blog, but other platforms can be used for interaction as well, such as a comment plugin, Facebook groups, emails, live chat sessions, etc. Community access can be free, with an option to promote content and products to members.
Another way to monetize the community is to create a premium club. The users will have to pay a membership fee to join, after which they get access to specific perks, such as consultation, exclusive materials, downloadable content, discounts, etc.
It is important to have in mind that each of these monetization strategies requires time to plan and implement. Although this is a necessary step, it is not something that should disrupt your blogging strategy. Also, you should not overwhelm your readers with selling all sort of things and a ton of promotional content. They are your blog readers (and supporters) first, and then your customers.
Still, monetization tactics are an essential part of blogging because they enable bloggers to earn their living through blogging and focus all of their time on their blog. They can quit their job that was supporting them as soon as the blog’s monetization tactics can replace this income. This gives more freedom to bloggers and an opportunity to turn blogging into a full-time, profitable career.
