Making money blogging is not an easy task, like any real business It requires a lot of time and effort to build and attracts readers and advertisers. One of the most popular ways to make money blogging is through affiliate marketing.
Affiliate marketing is when you promote products or services on your website and earn a commission when someone purchases them.
You can use affiliate links in your posts or add them to the sidebar of your site.
You will need to sign up with an affiliate network like Amazon Associates or Commission Junction before you can participate in this type of program but it’s worth the time investment because it’s one of the easiest ways to make money blogging with little effort on your part!
Make Money Blogging in 2023
You have just started a new blog or you are planning one. You want to learn about making money from it but don’t know where to start.
Well, this article will help you understand the basics of starting an online business and some ways to earn money by blogging.
What is a blog? A blog (short for web log) is a website that publishes content regularly. The content can be text-based like articles or videos or both.
There are several blogging platforms on which you can create a blog. These range from free WordPress sites to premium ones offered by web hosting companies.
There are many methods to generate revenue through a blog. Let’s look at the three most common types.
1. Affiliate Marketing
The first method involves selling other peoples’ products via links inserted into posts.
This approach allows bloggers to leverage their existing audience’s interest in those products. For example, if someone reads your post about dog food or cat litter and then visits Amazon to read more about those products, they may click on a link that takes them straight to Amazon instead of yours.
When they do so, Amazon pays you a commission based on whatever product they buy. If your blog has tens of thousands of readers, you might get hundreds of dollars per month doing this.
But there are drawbacks to consider as well. First, because you’re not directly involved in the sale process, it takes longer than usual to receive payment. Second, you need to keep track of all sales made via that particular affiliate program.
Finally, you must ensure each product meets company quality standards before promoting it. Altogether, this means it can take months to begin generating real revenue. In addition, affiliates typically pay lower commissions compared to other options available on this list.
2. Display Ads
In contrast to affiliate programs, with display ads, advertisers place advertisements on your site. They usually appear alongside your regular posts.
Advertisers pay you a fee every time somebody clicks on their adverts. As your traffic grows, so does the amount of money earned per visitor.
However, you should note that advertising can be costly depending on what kind of advertiser you choose to work with. Generally speaking, banner ads and video ads cost less than text or image ads.
On the downside, banners tend to annoy visitors since they often cover up part of the page’s main content or obstruct navigation.
Video ads are better alternatives but require higher production costs. Still, considering the option exists, we recommend displaying any type of advert. Just remember to check its payout rate beforehand.
3. Freelancing Work
While working as an employee requires hours spent sitting behind a computer screen, freelancers use their own tools and equipment to complete tasks.
Therefore, they are able to set their own schedules, although this comes at a price. With freelance jobs, you generally won’t see steady progress toward achieving financial goals unless you invest considerable amounts of time upfront.
Moreover, once hired, clients expect quick turnaround times. To succeed, you’ll likely need to put in extra effort beyond normal workloads. Also, you risk losing clientele due to poor performance.
That said, freelancing offers greater freedom over scheduling and choice of projects. Most importantly, however, it provides faster returns on investment compared to traditional employment avenues. Since you control the entire workflow, you reap full benefits when earning a profit.
It’s worth noting that you can combine two or even all three approaches above. For instance, you can promote certain products and services using affiliate links while simultaneously offering them yourself for a small monthly fee. Or, you can run paid promotions on your blog during specific periods.
Now let’s discuss why blogging alone isn’t enough to sustain a living without outside funding.
Blog Income Requirement
If you plan to build a successful career with a blog, you must think about whether it generates sufficient revenues. Otherwise, you cannot afford to continue operating the blog indefinitely. Here is a rough estimate of the annual earnings required to support your lifestyle. Remember, these figures assume you already have millions of views and hundreds of followers.
To reach this level, you’d need around 10 million total unique viewers who spend 30 minutes viewing your blog per day. And yes, these numbers only represent the bare minimum needed to stay afloat; you would probably need much more.
So how else can you make money with a blog? One way is to offer consulting services related to your niche. Many professionals prefer hiring experts rather than trying to solve problems themselves. Because you possess valuable knowledge in your field, you can provide solutions to various issues.
Such opportunities abound everywhere. Consider running workshops, seminars, or coaching sessions. Alternatively, you can become a virtual assistant to businesses or individuals.
Another popular idea among bloggers is to join networks designed specifically to connect aspiring entrepreneurs with mentors willing to share expertise. Popular examples include Upstart U, Bevelo, TopTalent, BigCommerce Academy, Entrepreneur Institute, Startupbootcamp Global, etc.
By joining such organizations, you gain access to professional mentorship and resources along with networking events. Plus, you can ask questions and seek advice from experienced leaders whenever necessary.
Perhaps you’ve heard about startups known as Patreon pages. Essentially, users pledge a specified sum of money to creators on a recurring basis. They then receive rewards in return. While this concept sounds interesting, it still needs refinement to become mainstream.
Currently, it mostly appeals to hobbyists and enthusiasts. Nonetheless, Patreon did manage to raise nearly $12M within six years despite being founded in 2011.
Wrap Up
Finally, you can try building multiple streams of income simultaneously. For starters, you can develop apps to sell on app stores. Afterward, turn your attention to developing ebooks and courses to teach others. Lastly, consider publishing books and launching podcasts.
Even though these ideas seem farfetched, history proves that anyone can achieve success even with limited funds.
Take Elon Musk, Jeff Bezos, Bill Gates, Mark Zuckerberg, Richard Branson, Michael Bloomberg, Jack Dorsey, Tony Hsieh, Tim Ferriss, Larry Page, Sergey Brin, James Dyson, and many other famous names, for example. Their stories prove that almost anything is possible if you believe in yourself.
We hope our guide helps you decide which path to follow next year. We wish you good luck!
