Posts Tagged ‘advertising’

4 Approaches to Making Money from Blogging

Monday, January 12th, 2009

So, you’ve heard that people can make money from blogging, but you’re wondering “how exactly does that work, and what approach would suit your blog?”.

Text Links

You have a website which has outgoing links, other websites want to rank with search engines, and one of the main measures for page rank is the number and quality of incoming links. So, there is money to be made from selling links on your site, and the advertiser is generally not that bothered if nobody ever clicks on the link.

This can be a reasonable source of income both from aggregators and private sales, but it doesn’t scale that well — after a certain point, you can’t earn more money as your blog grows. The main downside is that it is not at all popular with search engines and you may find your own ranking in searches is lowered as a result.

Ad Networks

You have a website which has visitors who click on links on your website. Other websites are are willing to pay for visitors. There is money to be made from selling advertising space on your website, you either get paid when someone views an ad, or when they click on it.

Making money this way requires a reasonably sized audience, and search engine traffic is considered to click more on adverts than regular readers or subscribers. Ad network income generally scales very well, and it is possible to make this the cornerstone of a money making strategy reliant on a single blog in the right sort of niche. The downside is that unless your website is very large, you’re unlikely to make private sales and will be reliant on an ad aggregator (e.g. Adsense, ). In practice this means that you will give up a fair amount of control over which ads are shown, and there can be restrictive terms and conditions.

Affiliate Links

You have a website where you mention products and services. Other companies are willing to pay commission for leads, inquiries or sales. There is money to be made by linking to the product or service if your visitors are likely to click on the link and follow up with a purchase.

Affiliate links scale well, and there is the potential for using both aggregators and private arrangements. You generally have complete control over which affiliate links are shown on your blog, and existing readers and subscribers are more likely to click on affiliate links than straight advertising. The downside is that making money from affiliate links depends strongly on the niche you are working in. There needs to be an obvious relationship between the topics you write about, and some products or services. So, for example review blogs do very well from affiliate sales, as can blogs related to expensive hobbies, but if you rarely mention specific products or services then you will probably struggle.

Consulting and Sales

You have some skill or product that you wish to sell. Your blog is strongly related to this skill or products. Other people will pay money for your skill or products.

You need to have genuine skills or a product to sell that people are interested in. Your blog needs to be strongly positioned towards making sales, in fact becomes somewhat of a sideline. You need to research any legal issues thoroughly before offering consulting, and ensure that you have back office systems set up for dealing with clients or completing sales. This works very well with business to business internet sales (e.g. selling WordPress themes, or blog consulting services) and fairly well with anything that can be done remotely, it is much harder to do if your skill requires you to be actually present. The biggest downside is that this is not passive income — you’ll actually have to work for the money, as well as blog.

Issues to Consider

You need to have the right set up in order to make money. Some free blog networks like WordPress.com don’t allow their bloggers to run advertising so check your terms and conditions. It is generally easiest to grow your blog’s income with self-hosted web hosting and your own domain name, but other approaches have worked for some people.

It’s possible to use a mix of approaches to making money, but be careful. If you are selling a product or skill then you might not want to use Adsense for example because the ads that come up are likely to be for competitors. As mentioned, selling text links can have a negative impact on your search engine visitors which are the primary source of income for most of the other forms of advertising.

Invariably, making money means paying taxes on the net income. Check out the regulations in your area, but you can usually make deductions for legitimate business expenses like hosting, domain names and Internet access. If you have a tax advisor or accountant already, you should contact them with your plans, often tax departments have phone lines you can call for advice on issues.

Finally, the standing of your blog is always dependent of having good content, and your credibility can be harmed by having a blog design with intrusive advertising. Don’t shoot yourself in the foot by letting your desire to make money overcome your common sense.

Best of luck, and here’s to your first million (or at least hundred)!

Increase Blog Income With CPM Advertising

Wednesday, March 26th, 2008

Many bloggers and webmasters are familiar with AdSense and its potential to generate excellent revenue for blogs and web sites. Unfortunately, many bloggers and webmasters focus too much on AdSense and forget that there are other types of advertising — i.e., CPM advertising — that could help your blog make more money without affecting the existing AdSense income. After all, there’s only so much AdSense optimization that could be done.

Money Monetization

Photo by RichSeattle via Flickr

AdSense is great, but it’s not the only solution for blog monetization

Although AdSense is a good place to start because there’s no traffic or page views requirement, it shouldn’t be the only blog monetization solution. Once your blog or web site reach a more consistent traffic level (i.e., 5,000 to 10,000 page views a month), you should consider adding CPM advertising to the mix — and I am not talking about AdSense CPM ads.

Due to AdSense revenue fluctuation and general downward trend in March, I decided to add CPM advertising to my personal finance blog this month — despite many warnings that CPM advertising is dead. I am happy to say that I am seeing positive outcome with minimal negative impact on my AdSense revenue.

Why is CPM advertising good for your blog monetization?

I believe the three primary benefits are:

  • CPM advertising provides consistent daily revenue proportionate to your traffic level
  • CPM advertising provides additional daily revenue above and beyond AdSense revenue
  • CPM advertising is great for social media traffic — i.e., Digg, StumbleUpon, etc. — where visitors are unlikely to click on your AdSense ads.

Which CPM network to choose?

While there are many CPM networks to choose from, the two networks that I am currently using are ADSDAQ, BURST Media, and ValueClick Media. However, you should do your own research, or you could simply try them all. Here are a list of articles about CPM advertising that I recommend:

How To Grow A New Blog Efficiently

Tuesday, February 19th, 2008

This article contains some information and ideas that I have about how to grow a small or new blog efficiently. Unfortunately writing good content is not enough — there are so many blogs out there that you have to do some extra work in order to get noticed. These ideas are more effective on smaller blogs so as your blog grows then you can modify or omit items.

promote new blog
Photo by Mtchm via Flickr

Content

It’s been said before and I’ll say it again: without reasonably good regular content then your traffic growth will be sluggish at best. Write about topics that interest you and hopefully you know something about.

A few ideas about content:

  • Focussed or not? — Some people say that blogs with a narrow range of topics are more successful. Personally I don’t worry about it — if something interests you then write about it.
  • Length — When I started on a blog and was posting five times a week I decided to try to do posts that were 300-500 words in length. I didn’t want them too short and I didn’t want them too long. Because if they were, I’d rather split them up and post them over two days. Now that I’m sharing a blog I don’t worry about the length as much, but I do think that posts that are too long might be detrimental to growing traffic since most readers don’t really want to read a book when they are browsing their reader. On the other hand it can be a bit annoying when you check out a new post on a blog and they have written a two sentence reminder to themselves or something equally silly which I’ve seen many times.
  • Think up ideas in advance — It amazes me when I hear about bloggers who regularly sit down in the evening and think up an idea and then write a post on it. I suppose this has to do with individual style but I like to think up most of my ideas in advance and I hate writing last minute posts.
  • Avoid burnout – If you post twice a week for a year then you will have a much larger following then if you post seven days a week for three months. If you want to be a blogger for the long term then you have to pace yourself. Even taking a week off now and again (maybe not right in the beginning however) is not a bad idea.

Posting schedule

This is an interesting topic since not everyone agrees about how often a blogger should post. My blog posts five days a week which is facilitated by the fact that there are two writers so we only write every second day. My feeling on this topic is that you don’t have to post five times a week to grow your audience — two or three times a week should be sufficient.

I would however suggest that you follow a schedule — i.e., for twice a week then post the same two days each week. Avoiding burnout is a key goal of a beginning blogger so if posting three times a week feels comfortable then do three times a week. There is nothing gained if you struggle to post five times a week (or more) and then end up quitting the blog after a frustrating few months.

RSS Icon

See that orange square in the upper right side of the screen? That’s a FeedBurner icon and it allows readers to easily subscribe to your feed. This is very important because making it easier for readers to read your posts when they are published will increase your readership. Get one!

Carnivals

Carnivals are one of the best ways for a new blog to get new readers. I’ve found the Carnival of Personal Finance to be the best for my personal finance blog but Festival of Frugality is also quite good. Other PF carnivals to consider are Carnival of Money Stories, Carnival of Financial Goals, and Money Hacks Carnival.

Whatever your blog is about — there are probably carnivals covering that topic. If not then start one of your own at Blog Carnival!

Some suggestions regarding carnivals:

  • Don’t wait — I don’t care if you only have two posts up — start submitting now!
  • Submit often — Especially in the beginning you should be submitting every week.
  • Concentrate on bigger blogs if you don’t submit regularly — The most traffic the blog gets, the better your chances for some referrals.
  • Submit early — Putting in a late submission means the host may not read your post and will probably “bury” it at the bottom of the list. The higher up the page your submission is, the more referrals you will get.
  • Appropriate topic — Try to pick the best posts for the right carnival. If you are really keen you can even try to write posts with a particular carnival in mind but this is not something I do.
  • Match your post to the host — Take a look at the host blog and see what kind of material they are into. If a host looks like they are not into your favorite topic then try to find something else to submit. If you don’t submit regularly then try to submit a post when the host blog has similar topics to yours. If the host really likes your submission then they will often use it in their “editor’s picks” which will be (hopefully) featured at the top of the page where you will get the most referrals.

Hosting carnivals

This is a lot of work but it can really raise the profile of your blog because:

  • You will get a lot of traffic and will get noticed
  • Getting links to your blog raises your profile with Google which will help you in the long run

Try to pick carnivals that are appropriate to your subject manner and look for smaller carnivals in the beginning because the more popular ones tend to choose more established bloggers to be their hosts. I have yet to host a carnival but I’ve signed up to do three in the next few months so I shall see how it goes.

Comments on other blogs

This is a great way to market your blog. Some suggestions for leaving comments:

  • Correct info — Make sure you fill in the name of your blog and the correct URL.
  • Usefulness — Write a meaningful comment on the post. Things like “great post” are not going to get you any traffic.
  • Relevancy — The more relevant the post is to your blog then the more likely it is that a good comment will get some referrals. Someone who is reading the comments is definitely interested in the topic so if you look like you are interested in that topic as well then they might check out your blog. On the same idea — focus on blogs that are similar to your own.
  • Blog size — Comment on medium sized blogs. Commenting on large blogs is often a waste of time since there are too many comments and it seems like nobody reads any of them! By the same token, a small blog will not have enough traffic to make it worthwhile commenting if it’s traffic that you want. I’m not suggesting that you shouldn’t comment on very small or very big blogs if you want to but the traffic potential will be less.

Link to other blogs

This is a key tool and is part of networking with other bloggers. Bloggers love to get recognized and praised (at least I do) so if you write a post and include a link to one of their posts then they will often come and check out your blog. Ideally if they like your blog and hopefully start reading it, then they will put some links to your blog in one of their posts which can be an excellent source of traffic. As I mentioned with the comments, medium sized blogs will probably provide the best results for this strategy.

Read other blogs

If you want to comment on, link to and network other bloggers then you have to know what they write about so make sure you read at least a few blogs regularly.

Network with other bloggers

This usually takes the form of emailing other bloggers — you can comment on a post, tell them you like their blog, ask for advice etc. This won’t work with every blogger but it can serve as a great learning tool and can also lead to more links — and you might even make some good friends.

Guest posts

This is another area where I will be venturing for the first time in the next few weeks. From discussions with other bloggers this can be a good source of new readers. Guest posts take time so this shouldn’t be done at the expense of your own content. Again, try to match the subject content of the blog you will be guest posting on to your own for maximum benefit.

Here too I would say try to go for medium sized blogs — they are likely to be receptive to a guest post and if their content is similar to your own then this strategy could be quite beneficial.

Advertisement on your blog

I would suggest that you not bother with any advertising when you start a blog for the following reasons:

  • No money — You need traffic to make money with advertisement on your blog, so until your blog has a chance to grow there is no benefit to having advertising.
  • Aesthetics — Advertisement on your blog almost always has a detrimental effect on the way a blog looks. This is an acceptable trade off for an established blog but for a new blog you are better off without ads. It’s kind of like a first date — you want to look as good as possible!

SEO

Search Engine Optimization is a fascinating subject but for a new blog I would completely ignore it. You will have plenty of time later on to get into this topic. Time spent on SEO is time not spent on content or marketing which is a mistake for a new blog.

Social Networks

Social networks are a great way to generate traffic and new readers. StumbleUpon in particular has been pretty effective for me. I would say that this might not be the best route for a brand new blog but keep it in mind and maybe after a few months, start looking into it.

Summary

If you try to do all of the above items in a big way then that would take a lot of time which doesn’t fit with the “efficient” theme of the post. I would concentrate on the following items for maximum benefit:

  • Content — This has to be the top priority.
  • Carnivals — These don’t take much time to enter so this will help grow your blog efficiently.
  • RSS icon — This doesn’t take long to set up.
  • Link to and comment on other bigger blogs.
  • Networking – It’s hard to go wrong with getting know other bloggers.

None of these suggestions are “all or none” propositions. If you want to enter three carnivals a week then go ahead. If you only want to enter one carnival every three weeks then that is fine too. Whether it’s entering a carnival, adding an extra link to to a post or emailing another blogger — every little bit counts.