You've got a new blog – maybe it's been running for a few days or a few weeks. (Or perhaps you're still in the planning stages.)
How should you monetize?
(And if you're wondering whether it's too soon, check out this post from last week where we looked at why you can and should monetize your blog right from day one.)
As I see it, there are two really good options for a brand new blog.
Option #1: Affiliate Links
Although affiliate marketing sometimes gets a bad rap, it's a straightforward way to make money, and (done with integrity) it creates a win-win-win situation for you, your reader, and the product creator.
Many digital products (like ebooks, software and membership sites) offer an affiliate program, where you can sign up to earn commission on any sales you generate. If you own any digital products, look for an "Affiliates" section on their website, or contact the creator to ask if there's an affiliate program. Often, you'll get a 50% cut.
If you want to promote physical products, Amazon will give you a small percentage of sales – this could work out very well if you blog about laptops, cameras, phones, or anything else where readers are likely to buy high-priced products. If you mainly promote books and other low-priced products, though, it can take a long time to make any money like this.
Tip: Only promote products you own and like. Don't sign up as an affiliate for a product you've never used – it could badly backfire if a reader buys on your recommendation. Always be honest when reviewing products, and let readers know any drawbacks.
Option #2: Services
Creating a product up-front is probably going to take more time than you have – but how about selling a service instead?
Hopefully, you have a few skills that relate to your niche. For instance, on my site Aliventures I blog about writing – and I could feasibly sell my services as a blogger, an editor, a proof-reader, a writing coach, and so on. (In fact, I've done all of these in my time.)
Don't underestimate yourself here. Skills that may seem second-nature to you could be very valuable to someone else. Let’s say you've started ten blogs and you're now great at installing WordPress, setting up plugins, tweaking themes, and so on. You could offer blog setup to people who aren't so techy minded.
Tip: Offer your services for free to a few selected people, and get them to give you feedback so you can improve. Ask them for a testimonial that you can include on your website: this will be a big help in persuading potential customers that you're reputable.
So why haven't I mentioned one of the most popular options out there – running adverts on your site? Many new bloggers want to monetize using ads – but it's rarely a good way to make money. You need a lot of traffic to make ads worthwhile, and while they can provide a nice extra stream of income, you're unlikely to make a living from them.
(To give you an example here, it took me 11 months of blogging to get my first $100 from Google Adsense, and just a couple of months to make that much through freelance blogging.)
If you've been blogging for a while, tell us what monetization techniques worked best for you in the early days of your blog. And if you've got a new blog, or you're about to get started, leave a comment to tell us how you'll be monetizing.
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