Making Money with Blogs

Blogging started out as a fad. People come online, set up quick websites, and then start posting journal entries. It has taken some time to gain respect. Blogs that deal with news and politics have long been the brunt of jokes from the so-called “official media”. But, most of them will admit they visit blogs regularly because blogs have become not only lightning-fast sources of news, but also a great gauge of public opinion.

But, as blogging moves from fad to standard, the question is: can money be made doing it? The answer is yes. Let’s look at some of the financial benefits to starting a blog.

(1) Advertising
This is the most obvious. All websites which are primarily content based (rather than ecommerce based) will likely need to host advertising in order to generate revenue. Blogs are no different. A blog is a website like no other. If it is traffic, ads will work. Do some research to find an ad network which will accept blog sites. Google’s Adsense will and is a popular choice. BlogAds is also popular. But, look into Vibrant Media’s IntelliTXT, Tribal Fusion, FastClick, Yahoo Publisher Network, among others.

(2) Sponsorship
Another avenue of advertising is the sponsorship. Depending on the subject of your blog, you may be an attractive option to businesses looking to gain some exposure for their product. Typically, sites that would do well with sponsorships are ones which are niche sites. A blog which is general, personal or raw entertainment might not be attractive to potential sponsors. But, if your blog is specific such as Web Development, digital cameras, PC gaming, or other industries which have companies which do internet advertising, you could pick up sponsors.

(3) Affiliate Programs
Use your blog to sell products for others and earn commission. For example, you could join Amazon’s affiliate program and sell books having to do with the subject of your blog. There are also a lot of other affiliate programs out there, including Linkshare, Commission Junction and Regnow.

(4) Sell Your Knowledge
If you routinely blog on a particular topic, you position yourself as an expert. Truly knowing what you’re talking about on a subject others care about is an asset. You can publish your work in the form of an e-book or course. By spreading your knowledge, and your blog positioning you as an expert, you can make some money.

(5) Work with a Blog Network
The idea behind a blog network is to create a large network of bloggers, allow the bloggers to post, then sell ads on the network and make some money for all involved. From the blogger’s perspective, you would earn money from advertising sold on your blog. The type of payment model is dependent on the network. Creative Weblogging is one such network who pays the blogger $10 for every 1,000 page views their blog generates.

(6) Raise Your Reputation
This one is a bit indirect, but still applicable. Blogs serve to raise your reputation as an expert in the field on which you are posting. The benefits to this are many. If you are running a related business already, a blog on your subject matter can position you as an expert and thus earn you business. Also, being positioned as an expert will gain you mini-celebrity status in that arena. It can earn you writing positions with non-blog publications. It can even lead into consulting work or public speaking on your area of expertise. There are people who now make very good money per hour doing consulting work on an area they themselves learned about through the course of blogging on it. They were not trained in that field beforehand. But, through blogging, they themselves become quite expert in the field while also becoming known to others as an expert.

(7) Donations
Some view this as a form of begging or handout, but it really isn’t. If you are providing useful information to a wide audience, many in that audience will see the benefit in helping you financially to keep it going. Trust me, after awhile you will develop your own fan base. Simply ask them to support you and use Paypal or some other similar payment collection medium to collect donations. I would not, however, encourage this as a form of quick fundraising to buy a car or some other personal desire. This kind of revenue only works if you have a large and loyal following. Otherwise, it likely won’t be that successful.

(8) Flipping
Lastly, we have the idea of selling the blog. Now, the sale of any website will gain you some money if the site appraises well to potential buyers. But, just like in real estate where one can flip a house to make money, the same can be done with websites. Obviously, its harder to do with a website because while everyone needs a home, not everyone is willing to buy a website. However, by running the blog effectively and gaining a following, it has a value and could be sold.

I’ve touched on some ways to make money on a blog. Many of them apply to non-blog sites as well, and the list I’ve provided is certainly limited. The ways to make money online are only limited by imagination and demand.

You Might Also Like:

1. Should Bloggers Feel Guilty For Making Money?
2. Promoting Your Affiliate Programs
3. The Use of Blogs
4. Does Making Money With Your Blog Make It Not a Blog Anymore?
5. Starting a Blog In Order To Make Money - Lost Cause?

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