I want to start a business
blogging. I don’t want to write the blog. I just want to piggy back
off my buddy who was receiving over 1,000 daily visitors to his L.A. Lakers
blog he wrote for fun. He wasn’t trying to drive traffic to his blog and
he sure hadn’t tried to monetize it. My buddy stopped writing the blog
shortly after starting it, but I know that he has the ability to create some
powerful content and I thought, hey, why not try to make some money doing that?
So, I started poking around for information about monetizing a blog
and found a few key insights worth noting.
Results of a survey of 1500 bloggers who subscribe to Darren Rowse's problogger |
Lots of traffic does not equal money
You must have readership in
order to make money blogging and increasing that readership should result in
larger revenues– no argument there. However, “more traffic” is not
a sufficient answer to how you can make money on your blog. Sonia Simone provides an anecdote of when “Fake Steve Jobs” made little more than one
hundred dollars on a day in which his traffic spiked to more than half a
million visitors. Contrast that with Anthony Feint who says he gets a
“handy payment” on about 200 visitors a day. Now, how much a “handy
payment” equals is obviously unclear, but even if it were as little as ten
bucks a day (and I’m sure it’s a whole lot more), you can see how favorably $10
for 200 visitors would compare to $100 for 500,000 visitors. This leads to
my next point.
Banner advertising is NOT number one
One reason why Fake Steve Jobs
could get half a million visits and potentially make less than Feint’s 200
visitor site is due to click through rate on banner advertisements. Banner advertising begins to become
lucrative as your click through rate increases. What this means is that you don’t get
paid a substantial amount of money until people begin clicking on the
advertisements on your blog. So
even if lots of people are visiting your site, unless they are clicking on the
advertisements you won’t be seeing much money. Feint wrote an article on how he
increased his revenues ten-fold by simplifying his design to have fewer and
more targeted advertisements. Feint
also utilizes affiliate programs who pay him for his
recommendations. Additional
models include ideas from offering access to premium content for a paid
subscription to landing paid speaking gigs as a result of your expertise
established by your blog following. It’s
worth keeping in mind that you only see about half the revenue generated from
ads when you utilize a provider like Adsense who keeps the other half paid by
the client. Check out
David Risley’s Top 10 Blog Monetization Strategies, Ranked in Order for some
other great ideas for how to monetize your blog (Risley puts Banner Ads at
number 8).
No one-size-fits-all
What works for one guy’s tech
review blog might not work as well for another guy’s pet rescue
blog. Your choice of revenue stream should be dependent on the nature
of your blog. Donations may be a great revenue stream to consider for a
blog regarding breast cancer awareness in which you clearly state a portion of
the donations funds blog operations, whereas an affiliate revenue stream is
worth considering if you review books. Don’t be so much concerned with what the other
guy is doing, but what business model makes sense for the content you are
providing and the audience you are addressing.
My buddy doesn’t need me
I won’t
be going into the blogging business any time soon. I'm not interested in providing content and if my friend
wants to make money blogging he doesn't need me to do it. If you are
already blogging there are plenty of options to begin playing around with to
monetize your site. While
Adsense may not be the most effective way to make money blogging it is probably the
simplest. You may not be
able to quit your day job, but maybe you’ll be able to generate a nice
supplemental income. Just don’t let the quest to monetize your blog cause you to lose
sight of why you started blogging in the first place.
References:
1. Darren Rowse, "Can You Really Make Money From Blogging? [7 Things I Know About Making Money From Blogging]", viewed 1/26/2013.
2. Sonia Simone, "Why You Can't Make Money Blogging", viewed 1/26/2013.
3. Anthony Feint, "How I Increased Blog Revenue 10 Fold", viewed 1/26/2013.
4. David Risley, "Top 10 Blog Monetization Strategies, Ranked in Order", viewed 1/26/2013.
I agree with you. Most people don't start blogging because they want the money. Most start because there is a topic they feel passionately about and want to get it out there or simply just want to talk about it. Some of the best blogs are the ones that start for this reason. Although it would be nice to make some money off of a blog, it is important to keep in mind why you started writing it in the first place because that is the reason people are reading it. I often read blogs and the blogs I read are about topics that I feel as passionate about as the blogger does. Posting advertisements like banners on your blog could ruin the feel of it. Placing advertisements that are somewhat related may have a different effect. Either way, the topic and feel of the blog should be considered before implementing some way of making money off of it.
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